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How much is your
scrap gold worth?

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How to check your gold

Find the hallmark. Look inside rings, on clasp tags, or chain links for a stamp: 375 (9ct), 585 (14ct), 750 (18ct), or 916 (22ct). Use a jeweller's loupe if needed.
Weigh it accurately. Use a digital scale that reads to 0.01g. Kitchen scales aren't accurate enough.
Beware of plated items. "Gold plated," "gold filled," "gold tone," or "GP" stamps mean NOT solid gold.
Get multiple quotes. Online dealers pay 90–95% of melt. High street shops offer 60–70%.

Typical weights of gold items

Wedding band3–8g
Signet ring4–12g
Fine chain3–8g
Heavy chain15–40g
Bracelet5–20g
Bangle8–30g
Earrings (pair)2–6g
Full Sovereign7.98g (22ct)
Half Sovereign3.99g (22ct)

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Frequently asked questions

How is the melt value calculated?

Melt value = weight × purity fraction × spot gold price per gram. For example, 10g of 9ct gold (37.5% pure) at £80/gram: 10 × 0.375 × £80 = £300.

What do the hallmark numbers mean?

375 = 9ct (37.5% gold), 585 = 14ct (58.5%), 750 = 18ct (75%), 916 = 22ct (91.67%), 999 = 24ct (99.9%). These are stamped by UK Assay Offices in London, Birmingham, Sheffield, or Edinburgh.

How much will a dealer actually pay?

Online dealers like BullionByPost pay 90–95% of melt value. High street "cash for gold" shops offer 55–70%. Always compare at least 3 quotes.

How do I know if my gold is real?

Look for hallmark stamps. Use an acid test kit (£15 on Amazon) for confirmation. Real gold is not magnetic — but passing the magnet test alone does not prove authenticity.

Do I need a licence to buy and sell gold?

No. Gold and silver are exempt from the Scrap Metal Dealers Act 2013 in England and Wales. Register as a sole trader with HMRC if trading regularly.

Is gold plated worth anything as scrap?

No. Gold plated items have a microscopic layer of gold over base metal. The gold content is negligible and dealers will not buy plated items as scrap.

What is the best time to sell gold?

Gold prices fluctuate daily. Use this calculator to check the current value and sell when you are happy with the price. Historically, gold tends to rise during economic uncertainty.