Key takeaway: Your gold jewellery is worth its fine gold content, which is the weight in grams multiplied by the purity shown on the hallmark, priced against the live gold price for that day. You can get close at home with a magnifying glass, a kitchen scale that reads in grams and the purity table below. What you cannot do at home is confirm the purity, which is why a buyer tests the metal before making an offer.
Almost every seller asks the same thing before they walk through our door: what is this actually worth? A chain that no longer leaves the drawer, a bangle that snapped, a ring from a parent. Gold jewellery has a real, calculable value, and once you know how the figure is built you can sell with confidence instead of guesswork.
At The Gold Avenue in Illovo, Sandton, we value gold jewellery for sellers from across Gauteng every day. This guide shows you how to read the hallmark, weigh the piece, work out the gold content and understand what the number means, before you go anywhere near a buyer.
How much is a gram of gold worth?
It depends on what kind of gram it is. A gram of 24ct gold is almost pure, so it is worth close to the full gold price for a gram. A gram of 9ct jewellery is only 37.5% gold, so it is worth a little over a third of that. The live gold price is quoted in dollars per troy ounce, which is 31.1035 grams, and converted into rand at the exchange rate of the day.
That means there is no fixed answer to “how much is a gram of gold worth” in South Africa. It changes every trading day with the metal price and the rand. What stays fixed is the method, and that is what you can learn.
How to read the hallmark on your gold jewellery
Look inside the band of a ring, on the clasp or tag of a chain, or on the back of a pendant or earring. You are looking for a tiny stamped number or carat mark. A magnifying glass or your phone camera zoomed in makes it much easier.
| Hallmark | Carat | Pure gold in the piece | Other marks you may see |
|---|---|---|---|
| 375 | 9ct | 37.5% | 9K, 9ct |
| 585 | 14ct | 58.5% | 14K, 14ct |
| 750 | 18ct | 75% | 18K, 18ct |
| 916 | 22ct | 91.6% | 22K, 22ct |
| 999 | 24ct | 99.9% | 24K, fine gold |
Most jewellery sold in South Africa is 9ct, so 375 is the mark you will see most often. Treat any stamp as a guide rather than proof. Stamps wear away, get lost when a ring is resized, and are occasionally wrong or faked. Testing settles it, and no reputable buyer prices on the stamp alone.
What is not gold: plated, filled and the marks to watch for
A heavy, yellow, shiny piece is not necessarily solid gold. Gold-plated and gold-filled items carry a thin layer of gold over a base metal, and their gold value is negligible. The marks give them away:
- GP or RGP: gold plated, rolled gold plate.
- GF or 1/20: gold filled, a slightly thicker layer but still a fraction of the piece.
- HGE: heavy gold electroplate.
Two quick checks help at home. Gold is not magnetic, so a piece that pulls towards a fridge magnet is plated or base metal. And worn edges that show a different colour underneath point to plating. Neither test proves a piece is gold, but both can tell you when it is not. Our guide on how to check if gold is real goes deeper.
How to weigh gold jewellery at home
A kitchen scale that reads in grams will get you close. A small jewellery or pocket scale reading to a tenth of a gram is better. Weigh each piece separately, and write the carat next to the weight, because a 9ct chain and an 18ct ring have to be worked out on their own.
Then take off what is not gold. Stones, clasps, springs and solder are deducted from the gold weight by every buyer, so a ring with a large stone weighs a good deal less as gold than it does on your scale. Steel springs inside clasps are common, and a diamond or cubic zirconia can be a noticeable share of a small ring’s weight. Estimate generously on the deduction side and you will not be disappointed later.
Working out the gold content: the calculation
This is the whole method in three lines.
- Gold weight = weight on the scale, less stones and fittings.
- Fine gold = gold weight multiplied by the purity for the hallmark. A 10 gram 9ct piece holds 3.75 grams of pure gold.
- Melt value = fine gold multiplied by the day’s gold price per gram of pure gold, converted to rand.
People also search for tiny amounts, like what half a gram of gold is worth. The same sum applies. Half a gram of 9ct holds well under a quarter of a gram of pure gold, so on its own it is worth little, but it is still weighed and paid for when it comes in with the rest. Small pieces add up, which is why we tell sellers to bring everything, including single earrings and broken links.
Your melt figure is not the offer. A buyer starts from that number and deducts refinery and smelting costs and a commercial margin. To see how that works in detail, and what a seller is actually paid, read our guide on how much you can get for gold jewellery in South Africa.
Why the insurance valuation is not what your gold is worth
An insurance valuation is the most misleading number a seller can carry into a buyer’s office. It is written to replace the piece new at retail, so it includes manufacturing, design, branding, the jeweller’s mark-up and replacement cost. The receipt from the shop includes the same. None of that survives when a piece is sold second-hand, because a buyer pays on the underlying gold, not on what a jeweller would charge to make it again.
Keep the valuation certificate. It usually records the carat and the weight of the piece and describes any stones, which makes your own calculation easier and helps a buyer see what deserves more than melt value.
What can lift the figure above melt value
Most gold jewellery is worth its metal. A few things change that.
- Brand and craftsmanship. A recognised designer piece in good condition has resale appeal as jewellery, not just as gold. Boxes and paperwork help.
- Diamonds and quality stones. These are valued on their own merits, separately from the setting. Because The Gold Avenue also buys diamond jewellery, one valuation covers both the metal and the stones.
- Condition. A broken chain is still full value as gold. A wearable piece from a known maker may be worth more intact than melted, and we tell you which applies.
Why online gold calculators only get you halfway
Plenty of websites will turn a weight and a carat into a figure. They are a fair starting point and no more. They rely on you knowing the exact gold-only weight, they cannot test the purity, and they cannot see stones, fittings, brand or condition. The accurate figure comes from a piece being weighed and tested in front of you by someone who buys gold every day.
At The Gold Avenue that test is a Niton XRF analyser, which reads the purity of the metal without damaging the piece. The reading sits next to your own hallmark estimate, and the two usually agree. When they do not, the analyser wins, and you see the result on the screen.
Frequently asked questions
How do I find out the carat of my gold jewellery?
Look for a small stamp inside a ring band, on a chain clasp or tag, or on the back of a pendant: 375, 585, 750, 916 or 999, or a mark such as 9K or 18K. If the stamp is faint or missing, the only reliable way to confirm the carat is to have the metal tested, which is part of every valuation we do.
How much is 9ct gold worth per gram?
A gram of 9ct jewellery contains 37.5% pure gold, so it is worth a little over a third of the day’s price for a gram of pure gold, before refining costs and margin. The rand figure changes daily with the gold price and the exchange rate, which is why we do not publish one.
Do you pay for the stones in my jewellery?
Stones are deducted from the gold weight and then valued separately. Diamonds are assessed on carat, colour, clarity, cut and certification. Cubic zirconia and most small coloured stones add little, but they never reduce what you are paid for the gold.
Is a heavy gold-coloured chain always worth a lot?
No. If it is marked GP, GF, HGE, RGP or 1/20, or it sticks to a magnet, it is plated or gold filled and has negligible gold value no matter how heavy it feels. Solid gold of any carat, however worn, is always worth its weight and purity.
Do I have to sell once my jewellery is valued?
No. Valuations at The Gold Avenue are free and there is no obligation. Many sellers work out a rough figure at home, come in to have it confirmed, and then decide.
Get your gold jewellery valued at The Gold Avenue in Illovo, Sandton
The Gold Avenue was founded in April 2022 as a modern, professional alternative to the pawn-shop trade, and has served more than 3,000 clients since. We are a registered Credit Provider with the National Credit Regulator, NCRCP16307, and a member of the Jewellery Council of South Africa. Our Google rating is 5.0 from around 400 reviews.
Your visit takes place in a private consultation booth on the 8th floor of Illovo Point. A Purchasing Consultant weighs and tests every piece in front of you, explains the offer, and if you accept, you sign a one-page Sale Agreement and are paid by immediate EFT or cash, subject to ID and compliance. The whole visit usually takes 10 to 15 minutes. Bring your SA ID, passport or SA driver’s licence and proof of banking details.
We are at Office 804, 8th floor, Illovo Point, 68 Melville Road, Illovo, Sandton, 2196. Hours are Monday to Thursday 08:00 to 17:00, Friday 08:00 to 16:00 and Saturday by pre-booked appointment only. Closed Sundays and public holidays.
Call 010 109 0080, WhatsApp 076 393 5429, or book a free valuation at https://thegoldavenue.co.za/request-a-quote/.
Written by Trent Saldsman, Founder and Managing Director, The Gold Avenue.
Trent Saldsman is the owner and managing director of The Gold Avenue, the luxury watch, gold and diamond exchange he built in Illovo, Sandton, and a nominee for the Eric Ellerine Entrepreneur Award in 2024. He founded The Gold Avenue to offer a transparent, five-star alternative to the traditional pawn-and-gold-buying trade, and works with an international dealer network, particularly in the UAE, to pay local sellers more competitively for their gold, diamonds and watches.