What we pay for your gold
Cash value of your gold
Gold prices tend to rise along with economic worries, war or inflation. With the latest events in the world’s economic climate, the gold prices have dramatically increased which means it may be the best time to get cash for your unwanted or broken gold.
When you send in your gold jewellery to us, we calculate the cash value of it based on these factors:
- The karat content of your jewellery which is a percentage of 24 karat. The higher the gold content, the higher the value. Pure gold is 24K – nearly 100% gold. It is very rare for jewellery to use pure gold. In most cases, the gold in your jewellery is mixed with copper, silver or zinc – called the alloy. The percentage of gold to its alloy is what determines its purity. Most gold jewellery is 10K, 14K or 18K. For example, if you have two chains of equal weight – one that is 14K and one 18K – the 18K chain would be more valuable – that is why determining the karat content of gold is so important. You can refer to the table below for the percentages of gold to its alloy depending on its karat content.
KARAT AND PERCENTAGE 1 karat equals 4.17% 6 karat equals 25.00% 8 karat equals 33.33% 12 karat equals 50.00% 14 karat equals 58.33% 18 karat equals 75.00% 22 karat equals 91.67% 24 karat equals 99.99%
- The weight of your gold jewellery. We use precise tools to measure the weight of gold in grams.
- Current market price of gold – for transparency of our transactions and your convenience, we have developed a gold price calculator that you can use to find out an estimated amount of cash you could get for your gold. Please keep in mind that even though these prices directly influence the amount of money we can offer for your unwanted gold, they are guidelines only.
If the gold price increases within 14 days after the offer is accepted by you, we will pay the difference!
That’s right – although the gold price has been gradually decreasing over the past few weeks, it sometimes goes up slightly (and we adjust our prices according to that) which means that at times our customers may think they could have gotten paid more if they had sold their unwanted gold for cash to us a few days later than they actually did.
We have found the perfect solution for this: every time a payout offer is accepted, we will wait 14 days and if the gold price goes up on day 14, we will re-evaluate your gold and pay the difference! Having this unique, unprecedented guarantee in place ensures the fairness of the Goldwise process in case the price increases.