How Much Is Your Gold Really Worth?

There’s a ring in the drawer you never wear. A chain inherited from your grandmother. A pair of earrings that have been tucked away for years. Before you sell them, you need to know one thing: what they’re really worth.

The problem is that most websites give you vague answers — or worse, they want you to accept an offer without understanding how it was worked out. That isn’t transparency. That’s pressure.

In this guide we walk you, step by step, through how the price of gold is determined. So that when you receive an offer — ours or anyone else’s — you know exactly whether it’s fair.

1. Karats determine the purity of your gold

Not all gold is the same. Karats (abbreviated “k” or “kt”) indicate what percentage of the metal is pure gold versus other alloying metals. It’s the first variable that defines the value of your piece.

• 24 karat (99.9% pure gold) — The highest standard. Too soft for everyday jewellery; reserved for bullion and investment pieces.
• 18 karat (75% pure gold) — The standard for fine jewellery in Spain. You’ll find it in the vast majority of quality rings, chains and bracelets.
• 14 karat (58.5% pure gold) — Widespread in international jewellery, especially in the United States and much of Europe.
• 9 karat (37.5% pure gold) — Common in British and Irish jewellery. More affordable pieces, but still gold.

2. Weight in grams: every tenth counts

Gold is bought by weight. To get a rough idea at home, a digital kitchen scale works as a rough reference. But the official weight is always taken on a calibrated precision scale (0.01 g) during the professional appraisal. When you’re talking about precious metals, tenths matter.

3. The LBMA price: gold’s real-world benchmark

The price of gold fluctuates daily. The global benchmark is the LBMA (London Bullion Market Association) price, set twice a day in London and published in US dollars per troy ounce.

To find the value in Spain, it’s converted to euros per gram using the current EUR/USD exchange rate. At OroSeguro, our online calculator syncs automatically with the LBMA price so it always shows you a realistic indicative figure.

4. This is how your offer is calculated

The final offer from any buyer will be slightly lower than this gross value. Real costs are deducted: refining, logistics, shipping insurance and a commercial margin. What matters isn’t that the deduction exists — what matters is that someone explains it to you.

How much is a gold ring worth? A worked example with an 18k band

The formula makes more sense applied to the commonest piece of all. A plain 18-carat wedding band about 4 mm wide weighs between 3 and 5 grams depending on finger size and the thickness of the ring. Take 4 grams, the most typical weight, and use the same example price as the section above.

That €255 is the value of the gold the band contains, not the offer you would receive: refining, logistics and insurance still come out of it. And there are two things the scale cannot tell apart on its own. A ring set with diamonds or cubic zirconia weighs more than it is worth in gold, because the stones are not gold and their weight is deducted. And a hollow ring — common in wide bands and in some modern wedding rings — weighs far less than it looks.

5. The warning signs

Be wary of anyone who won’t show you the calculation. If a company won’t tell you which price they use, what purity they determined or what your piece weighs, you have no way of knowing whether the offer is fair.

Check it for yourself

Want a quick estimate before deciding anything? Use our online gold calculator — choose the karats, enter the approximate weight, and instantly get an estimate based on the day’s LBMA price. No obligation. No sign-up. No phone calls.

When you’re ready for a professional appraisal from a GIA-certified gemologist, request your free pack and receive it at home in 24–48 hours. Insured with Generali from the moment it leaves your door.