Key takeaway: Your gold jewellery is worth its gold: how much the piece weighs once stones and fittings are set aside, how pure it is according to the hallmark, and the live gold price on the day you sell. You can read the hallmark and spot what is not gold at home. What you cannot do at home is confirm the purity, which is why a buyer tests the metal in front of you before making an offer. Valuations at The Gold Avenue in Illovo, Sandton are free and carry no obligation.
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. This guide shows you how to read the hallmark, what is and is not gold, what a buyer deducts, why the insurance valuation is not the answer, and what can lift a piece above its metal value.
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 how a piece is judged, 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.
What is deducted before your gold is priced
A buyer pays for gold, not for everything on the scale. Stones, clasps, springs and solder are taken off the weight first, so a ring with a large stone weighs a good deal less as gold than it does in your hand. Steel springs inside clasps are common, and a diamond or cubic zirconia can be a noticeable share of a small ring’s weight. Diamonds and quality stones are then valued separately on their own merits, so nothing of value is lost, it is simply priced as what it is.
Bring everything, including single earrings, broken links and pieces you think are too small to matter. Small pieces add up, and each one is weighed and paid for on its own carat.
The figure a buyer reaches is not the full market value of the gold. Refinery and smelting costs and a commercial margin come off, because second-hand jewellery has to be melted, refined and sold on. What a seller is actually paid, and why, is explained in 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 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.
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 Founder and Managing Director of The Gold Avenue, the gold, diamond, Krugerrand and luxury watch buyer he established at Illovo Point, Sandton in April 2022, and a Finalist in the Absa Eric Ellerine Entrepreneur Award 2024. He built The Gold Avenue as a secure, professional and transparent alternative to the traditional pawn-and-gold-buying trade, and works with an extensive local and international dealer network to pay sellers more competitively for their gold, diamonds and watches.