Gold Value Guide: Karat, Weight, Spot Price & Selling Tips
Learn how gold value is calculated by karat, weight, current market reference price, condition, testing, and item type before you sell or evaluate gold locally.
Last reviewed July 2026. Gold prices change often, so use live market references and contact Larsen's before making a special trip.
Most people selling gold for the first time have the same question: how much is my gold worth? You may have jewelry, inherited items, broken gold, dental gold, class rings, coins, Black Hills Gold, or mixed precious metals, and you want to understand the basic math before bringing anything in.
This page explains how gold value is calculated. It is different from our more direct payout guide, How Much Does a Pawn Shop Pay for Gold?, which focuses more on per-gram payout examples. For the main local service page, visit Cash for Gold in Mobridge. At Larsen's Jewelry & Half Interest Pawn, we test and weigh items in front of you, explain what we are seeing, and let you decide with no pressure.
How Gold Value Starts: Karat and Weight
Every gold evaluation starts with two basic numbers: purity and weight. Everything else, including design, age, brand, condition, resale demand, or whether the item is broken, can affect how a piece is handled, but purity and weight are the starting point for understanding the metal value of gold jewelry.
Karat — Gold Purity
Karat tells you how much of the piece is actually gold. Pure gold is 24 karat. Most jewelry is made from gold alloyed with other metals for durability, which is why 10k, 14k, and 18k stamps are common on rings, chains, earrings, and bracelets.
To find the karat stamp on a ring, look inside the band. On chains and bracelets, check the clasp. On earrings, check the post or the back. Common stamps include 10k, 14k, 18k, 22k, 24k, 417, 585, 750, 916, or 999. The numbers are decimal equivalents. For example, 585 means roughly 58.5% gold, which is close to 14k. If you cannot find a stamp, we test the piece in store.
Weight — Troy Ounces and Grams
Gold prices are commonly quoted in troy ounces, but jewelry is usually weighed in grams because individual pieces are small. One troy ounce equals about 31.1 grams. At Larsen's, we weigh items in front of you so you can see the reading before any calculation is explained.
How the Gold Value Math Works
Once the karat and weight are known, the basic metal-value math is straightforward. Here is the simplified version:
in grams
karat %
per gram
A Real-World Example
Say you have a 14k gold ring that weighs 5 grams. The math starts by figuring out how much pure gold is actually in the ring.
Example — 14k Gold Ring, 5 Grams
We do not publish a fixed example price here because the gold market changes daily, and showing an outdated number can mislead readers. What we can tell you is that we use current market pricing as a reference, then explain how purity, weight, condition, item type, and the item itself affect the final offer.
Melt Value vs. Payout vs. Resale Value
These terms often get mixed together. Understanding the difference helps you know why two gold pieces with the same gram weight can receive different offers.
| Term | What It Means | Why It Matters |
|---|---|---|
| Melt Value | The estimated value of the pure gold content based on karat, weight, and market price. | This is the starting point for scrap gold, broken chains, single earrings, and many ordinary pieces. |
| Offer / Payout | The amount a local buyer offers after testing, weighing, and accounting for costs and resale or refining risk. | This is the real number you can accept or decline in store. |
| Resale Value | The value of a wearable, signed, collectible, antique, designer, or regional piece as jewelry instead of scrap. | Some Black Hills Gold, signed jewelry, coins, or estate pieces may be reviewed above ordinary melt value. |
How Much Can I Get for Scrap Gold?
“Scrap gold” is the industry term for gold jewelry, fragments, and mixed pieces that are evaluated primarily for their metal content rather than for their design, brand, or resale demand. This is one of the most common gold-selling scenarios, and it is worth understanding the category on its own.
What Counts as Scrap Gold?
Common scrap gold examples include:
- Broken gold chains — bent, kinked, or unusable
- Single earrings — where the matching earring was lost
- Damaged rings — cracked shanks, missing stones, bent settings
- Class rings and school rings — usually 10k or 14k, high metal content
- Old wedding bands — inherited or no longer worn
- Dental gold — old crowns, bridges, or fillings from dental work
- Miscellaneous “junk drawer” gold — mixed pieces of unclear origin, no matching set
How Is Scrap Gold Evaluated?
Scrap gold is evaluated the same way as any other gold: karat is tested, weight is measured in grams, and the total is calculated using the formula shown earlier on this page. The main difference is that scrap pieces are not reviewed for resale value beyond metal — the offer is based purely on gold content, current market conditions, and the buyer’s refining or handling costs.
For real per-gram payout ranges by karat — 10k, 14k, 18k, 22k, and 24k — see our companion payout guide, How Much Does a Pawn Shop Pay for Gold?. It shows what scrap gold typically pays at current market prices and explains the math behind each karat.
What Not to Do with Scrap Gold
- Do not clean or polish scrap pieces. Cleaning does not raise metal value and can waste your time.
- Do not attempt to remove stones yourself. Many stones have little value on their own, and prying them out can damage the piece and reduce even the scrap offer.
- Do not sort by karat before bringing pieces in. We test every piece regardless of the stamp — sorting at home wastes your time and can miss unmarked pieces.
- Do not weigh at home on a kitchen scale. Kitchen scales use avoirdupois ounces, not troy ounces, and undercount gold weight by roughly 10%.
- Do not sell scrap gold to the first buyer you see. A second opinion from a store that tests in front of you is worth the 15-minute drive.
When Scrap Might Not Be the Right Category
Some pieces that look like scrap at first glance may actually have resale value beyond metal content. Before you commit to selling as scrap, consider:
- Is the piece signed by a recognized maker (Tiffany, Cartier, Landstrom’s, F.L. Thorpe, Coleman, Stamper, etc.)?
- Is the piece vintage, antique, or Art Deco?
- Is the piece part of a matching set that might be worth more together than separated?
- Does the piece have documented provenance, an appraisal, or original packaging?
- Is the piece Black Hills Gold with intact maker marks?
When in doubt, bring the piece in as-is. We will help separate ordinary scrap from pieces that deserve a closer look before anything is treated like plain melt gold.
What Else Affects a Gold Offer?
Market pricing and purity get you to the starting point, but several other factors can affect the final offer, especially for certain types of gold items.
Broken and Scrap Gold
Broken jewelry is one of the most misunderstood categories. A broken gold chain, a bent ring, a clasp that no longer works, or a single earring can still have metal value. Gold does not lose its metal content just because the piece is damaged. If you have broken gold sitting in a drawer, text us a photo before you make the drive. For the full scrap-gold breakdown, see the section How Much Can I Get for Scrap Gold? above.
Dental Gold
Old dental crowns, bridges, and fillings can contain valuable metal and are worth evaluating. Dental gold can contain a mix of metals, so testing matters. Bring it in and we can test and weigh it the same way we evaluate other precious-metal items.
Unmarked or Unknown Gold
If a piece has no visible karat stamp, or if you are not sure whether something is actually gold, we can test it in store. We do not rely on guessing from appearance alone.
Black Hills Gold, Designer, Vintage, and Collector Pieces
In some cases, a piece may have value above its metal content. Examples may include signed designer jewelry, certain vintage pieces, collectible coins, Black Hills Gold with intact maker marks, or items with documented provenance. These cases are less common with everyday jewelry, but they are worth mentioning if you believe the piece may have resale or collector value beyond its gold content.
Gold-Plated, Gold-Filled, and Solid Gold Are Different
Not every gold-colored piece has the same kind of gold content. This is one of the most common surprises when customers bring in older jewelry, estate boxes, watches, chains, or mixed pieces.
- Solid gold — usually stamped 10k, 14k, 18k, 417, 585, or 750. These pieces are evaluated by karat, weight, testing, condition, and the item itself.
- Gold-filled — has a layer of gold bonded to another metal, but it is not valued the same way as solid gold jewelry.
- Gold-plated — has a thin surface layer of gold over base metal and often has little precious-metal value by itself.
- Costume jewelry — may still be worth checking if it is signed, vintage, or part of a larger estate group, but most pieces are not valued like gold.
What About Gold Coins and Bullion?
Gold coins and bullion can be different from ordinary jewelry because recognized bullion products may trade with a premium above melt value. American Gold Eagles, other recognized bullion coins, bars, and older collectible coins should be reviewed separately from scrap jewelry. Do not clean or polish coins before bringing them in.
For official context on U.S. bullion products, see the United States Mint bullion program reference.
What About Silver?
The same basic logic applies to silver: purity, weight, item type, condition, and current market conditions all matter. Common silver items include sterling silver jewelry stamped .925, silver flatware, silver rounds, silver bars, and pre-1965 U.S. silver coins.
See our Silver Bullion & Coins page for full details, or read the silver bullion guide for more context on spot price, rounds, bars, coins, and sterling markings.
What to Bring for a Gold Evaluation
- The pieces themselves — gold or silver jewelry, coins, bullion, or broken pieces you want evaluated.
- Valid government-issued photo ID — useful and often needed for selling precious metals or completing certain in-store transactions.
- Estate paperwork, boxes, or appraisals — helpful context when available, but not required for most evaluations.
- Visible karat or quality marks — such as 10k, 14k, 18k, .925, 417, 585, 750, 916, or 999.
- Estate or inherited pieces — bring everything and let us sort through it with you.
- Dental gold if you have it — old crowns and bridges are easy to overlook but may still be valuable.
Local Gold, Silver, and Jewelry Questions Near Mobridge
Larsen's Jewelry has served Mobridge since 1941. Today, Larsen's Jewelry & Half Interest Pawn is a practical regional option for customers who want to sell gold or silver, get a pawn loan, repair jewelry, shop Black Hills Gold, or buy and sell silver bullion in north-central South Dakota.
Customers visit from Mobridge, McLaughlin, Selby, Timber Lake, Gettysburg, Herreid, Pollock, Glenham, Isabel, Wakpala, Little Eagle, and surrounding communities. Every gold and silver evaluation is explained clearly before you decide. Find directions from your community.
Helpful Gold & Precious-Metal References
These outside references are included to help explain market-price references, precious-metal quality markings, bullion context, and local pawnbroker/transaction context. Final local offers are confirmed in store after testing, weighing, inspection, and current market review.
- World Gold Council gold spot prices — gold spot and reference-price context.
- FTC: Buying Platinum, Gold, and Silver Jewelry — official consumer guidance on karat marks, solid gold, gold-filled, gold-plated, and sterling silver terms.
- FTC Jewelry, Precious Metals, and Pewter Guides — federal jewelry and precious-metal marketing guidance.
- United States Mint bullion program reference — official context for U.S. bullion coins.
- South Dakota Codified Law Chapter 37-16 — South Dakota pawnbroker statute reference.
Gold and silver market prices change frequently. This post is informational only and does not constitute investment, tax, or financial advice. Final local offers are confirmed in store after inspection, testing, weighing, and current market review.
Gold Value FAQ
How much is my gold worth in Mobridge, SD?
Gold value depends on karat, weight, current market pricing, condition, testing results, and the item itself. Larsen's tests and weighs items in store and explains the offer before you decide.
How much can I get for scrap gold?
Scrap gold offers are based on karat, gram weight, and current market pricing. Common scrap items — broken chains, single earrings, class rings, damaged rings, wedding bands, and dental gold — are all evaluated the same way: we test purity, weigh in grams, and calculate against current market pricing. For per-gram payout ranges by karat (10k, 14k, 18k, 22k, 24k), see our companion guide, How Much Does a Pawn Shop Pay for Gold?.
Is broken jewelry evaluated the same as wearable gold?
Broken gold is evaluated primarily for its metal content. Wearable and intact jewelry can also be considered for resale value depending on the piece. If a broken piece has a recognizable maker's mark, is signed by a known designer, or is antique, it may be worth reviewing separately before being treated as ordinary scrap.
What does karat mean when selling gold?
Karat describes gold purity. For example, 24k is pure gold, 22k is about 91.6% gold, 18k is about 75% gold, 14k is about 58.3% gold, and 10k is about 41.7% gold.
Does broken gold still have value?
Yes. Broken chains, damaged rings, single earrings, old class rings, and other damaged gold pieces can still have value because of their metal content.
Do you pay spot price for gold?
No. Spot price is a market reference point, not the final payout. Offers also account for purity, weight, testing, condition, handling, resale or refining costs, and market movement.
Can I text photos before selling gold?
Yes. Use the Contact page to send clear photos before driving in. Final offers are confirmed in store after testing, weighing, and inspection.
Is gold-plated jewelry worth anything?
Gold-plated jewelry usually has only a thin surface layer of gold and often has little precious-metal value by itself. Bring it in if you are unsure, especially if it is part of an estate group, signed piece, watch, or mixed jewelry box.
Should I clean gold before bringing it in?
Usually no. For scrap gold, cleaning is unnecessary. For Black Hills Gold, designer jewelry, old coins, signed pieces, or estate pieces, cleaning or polishing can remove clues or affect resale context. Bring items in as-is.
Can gold be worth more than melt value?
Yes. Certain signed pieces, Black Hills Gold, collectible coins, designer jewelry, antique pieces, or items with strong resale demand can be reviewed beyond basic melt value.
Have Gold, Silver, or Jewelry to Review?
Text photos first or walk in during business hours. We test and weigh in front of you, explain the numbers, and you decide with no pressure and no obligation. For full local service details, start with our Cash for Gold page. 211 N Main St, Mobridge, SD — Mon–Fri 11am–6pm, Sat 11am–3pm.
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