How Much Is Your Gold Worth? Sell Gold in Mobridge, SD | Larsen's Jewelry
If you've got gold jewelry sitting in a drawer — a class ring you never wear, a broken necklace, an inherited piece you're not sure about — you're probably wondering what it's actually worth. The honest answer is: it depends on a few specific things, and once you understand how gold is priced, you'll walk in knowing exactly what to expect. At Larsen's Jewelry & Half Interest Pawn in Mobridge, we've been buying gold since 1941. Here's how it works.
1. Gold Price Is Set by the Market — Not the Shop
The first thing to understand is that gold has a live market price called the spot price — the same number every gold buyer in the country references. It changes every business day based on global commodity markets. You can check it anytime by searching "gold spot price today."
When you bring gold into Larsen's, your offer is calculated directly from that day's spot price. We don't set an arbitrary house price — we show you the math. The offer is a percentage of spot based on the purity and weight of your piece, minus a margin that covers our costs and risk. That's how every legitimate gold buyer operates.
2. Karat Tells Us How Much Gold Is Actually In the Piece
Gold jewelry is never 100% pure gold — it's an alloy mixed with other metals for durability. The karat stamp tells you what percentage of the piece is actually gold. Higher karat means more gold content, which means a higher offer.
Also stamped 417
Also stamped 585
Also stamped 750
Pure gold — rare in jewelry
Look for stamps on the inside of rings, on clasps, or on tag attachments. Common marks include 10K, 14K, 18K, 417, 585, 750, and 999. If you see 925, that's sterling silver — not gold — and is priced separately at current silver rates.
Don't see a stamp? Bring it in anyway. We test purity directly using acid and electronic testing — we don't rely only on markings. Older pieces, estate jewelry, and international items often have no visible stamp but still contain real gold. A missing stamp is not a dealbreaker. We'll tell you exactly what you have before any offer is made.
What About Gold-Filled and Gold-Plated?
Gold-filled items have a thicker layer of gold bonded to a base metal — they have some value but significantly less than solid gold. Gold-plated items have an extremely thin surface layer and generally have little to no melt value. We'll identify which you have during testing, so there are no surprises at the counter.
3. Weight Is the Other Half of the Equation
Once we know the purity, weight determines the final value. We weigh every piece on a calibrated gram scale — in front of you, so you see the exact reading. Gold is typically priced by the troy ounce on the market, but weighed in grams or pennyweights (dwt) in-store. We'll convert and explain everything so the math is clear.
This is why it's worth bringing in everything — even small pieces add up. A single broken earring, a thin chain you'll never wear, an old clasp sitting in a jewelry box. Broken gold has the same metal value as intact gold. The spot price doesn't care whether a ring is bent or a chain is snapped.
| Item Type | Does Condition Affect Value? |
|---|---|
| Gold chains and necklaces | No — broken chains have full melt value |
| Gold rings | No — bent or damaged rings weigh the same |
| Gold earrings | No — mismatched or single earrings still count |
| Gold with gemstones | Stones may add value — evaluated separately |
| Gold coins | Condition matters — numismatic value may exceed melt |
| Black Hills Gold | Design and collectibility may add above melt value |
4. What Gold Items We Buy at Larsen's
If it contains gold, we're interested. Here's what we buy most often:
Gold Jewelry — Any Condition
Rings, necklaces, bracelets, earrings, pendants, and charms in 10k, 14k, 18k, and 24k. Broken, tangled, missing stones, or no stamp — bring it all in. We evaluate every piece individually and explain what we're seeing.
Black Hills Gold
Black Hills Gold is unique — it has both metal value and collectible value based on its distinctive tri-color design and South Dakota heritage. We evaluate Black Hills Gold pieces differently than standard scrap, taking both factors into account. If you have inherited Black Hills Gold or pieces you're considering selling, bring them in for a proper assessment before assuming it's only worth melt value.
Estate and Inherited Jewelry
Inherited collections are one of the most common situations we see. Someone passes away and family members find drawers full of jewelry they're not sure about — what's real gold, what's costume, what's worth selling. We go through collections piece by piece and explain everything clearly. No charge for the evaluation, no obligation to sell anything. See our full gold selling guide for more on handling inherited jewelry.
Gold Coins and Bullion
American Gold Eagles, foreign gold coins, and gold bars. Gold coins can carry numismatic value above and beyond their melt value depending on rarity and condition — we assess both. If you're also selling silver, see our silver bullion page for how we handle coins and rounds.
Dental Gold
Dental crowns, bridges, and fillings contain real gold and have genuine melt value. Bring them in — we test and weigh them the same as any other gold piece.
Scrap Gold
Old clasps, broken findings, bent chains, mismatched pieces — anything that's gold but no longer wearable. Scrap has full melt value. Don't throw it away and don't leave it sitting in a drawer.
5. How to Get the Best Offer Before You Come In
A few things you can do before walking in that make the process faster and help you understand what you're working with:
- Check for karat stamps. Look on the inside of rings, on clasps, and on tag attachments. Note what you see — 10K, 14K, 585, 750, 925, etc.
- Check the gold spot price. Search "gold spot price today" for a current baseline. This gives you context for the offer you receive.
- Bring everything at once. Multiple pieces evaluated in one visit is more efficient and gives you a clearer picture of your total value.
- Don't clean pieces with harsh chemicals. A light wipe is fine — aggressive cleaning can damage stones or surface details on pieces that may have value beyond the metal.
- Text photos first if you're driving from out of town. Send 2–4 clear photos to (605) 850-9455 and we'll give you an honest preliminary read before you make the trip from McLaughlin, Selby, or Timber Lake.
6. You Are Never Obligated to Sell
This is worth saying clearly. We test your gold, weigh it, show you the math, and make an offer. If you don't like the number, you take your items and walk out. No fee for the evaluation. No pressure. No awkward moment. Many people come in just to find out what they have and decide another day. We're comfortable with that.
If you want the cash but aren't ready to permanently part with a piece — especially something with sentimental value — ask about a pawn loan instead. You get the same cash up front, keep the option to reclaim the item, and decide later whether to repay or let it go. Our pawn loans guide explains exactly how that process works if you want to compare both options before you come in.
7. Bring Your ID — It's Required by Law
South Dakota law requires a valid government-issued photo ID for all gold-buying transactions. Driver's license, state ID, or other valid government-issued photo ID. This applies to everyone regardless of the amount — it's the same at every legitimate gold buyer in the state.
What to Bring — A Quick Checklist
- Valid government-issued photo ID (required by South Dakota law)
- All gold and silver pieces — including broken, unmarked, and mismatched items
- Class rings, school rings, and estate jewelry
- Gold and silver coins if you have them
- Dental gold — crowns, bridges, or fillings
- Any appraisals or documentation you have — helpful but not required
No appointment needed. Walk in any time during business hours: Mon–Fri 11am–6pm, Sat 11am–3pm at 211 N Main St, Mobridge. For large estate collections, calling ahead at (605) 845-3759 helps us set aside enough time to go through everything properly.
Frequently Asked Questions
How much is my gold worth right now?
It depends on the karat and weight of your specific pieces and that day's gold spot price. Search "gold spot price today" for the current market rate, then bring your items to Larsen's in Mobridge for a free in-store evaluation. We'll give you an exact number based on your actual pieces.
Do you buy broken gold jewelry?
Yes. Broken gold has the same melt value as intact gold. Bring in broken chains, bent rings, mismatched earrings, and old clasps — condition doesn't reduce the metal value.
How do you test gold?
We use acid testing and electronic testing to verify purity — in front of you, so you see exactly what we're doing and why. We don't rely only on karat stamps.
Do I have to sell if I get a quote?
No. Evaluations are free and there's no obligation to sell. Many customers come in just to find out what their gold is worth and decide another day. We're fine with that.
What's the difference between selling gold and a pawn loan?
Selling is final — you receive cash and the item is ours. A pawn loan lets you use the item as collateral to get cash, then reclaim it when you repay. If the piece has sentimental value, a pawn loan gives you flexibility selling doesn't. See our pawn loans guide for the full breakdown.
Do you buy gold coins?
Yes. We buy American Gold Eagles, foreign gold coins, and gold bars. Gold coins may carry numismatic value above melt — we assess both before making an offer.
Free in-store gold evaluation — no appointment, no obligation.
Larsen's Jewelry & Half Interest Pawn — 211 N Main St, Mobridge, SD 57601
Mon–Fri 11am–6pm • Sat 11am–3pm
