Gold purity and how it affects value
How the gold market affects an offer: the wholesale gold market moves during trading, while jewellery contains different proportions of gold. Payable metal weight, confirmed purity and the condition or collectability of the item determine how that market relates to your offer. GoldPaid does not publish a price list or calculator. Send photos for a rough estimate where possible; your written offer follows inspection of your own items.
| Carat | Mark | Fine gold content |
|---|---|---|
| 9ct | 375 | 37.5% |
| 12ct (historic UK) | 500 | 50% |
| 14ct | 585 | 58.5% |
| 15ct (historic UK) | 625 | 62.5% |
| 18ct | 750 | 75% |
| 21ct (not a UK standard) | 875 | 87.5% |
| 22ct | 916 | about 91.7% |
| 24ct | 999 | 99.9% |
Got the piece in front of you? Get a figure for it
Send a photo of the piece and any stamp on WhatsApp. We will reply with a rough estimate for it. No obligation, and nothing needs posting.
No WhatsApp? Call 07944 014111, 8am to 9pm.
Not sure what the mark says? Use the hallmark lookup. Final offers depend on inspection, item weight, purity, hallmarks, stones, non-gold components, condition and the live precious-metal market.
The short answer
How carat drives scrap gold value
Scrap gold is valued by how much fine gold it contains. 9ct is 37.5% pure (marked 375), 14ct is 58.5% (585), 18ct is 75% (750), 22ct is 91.7% (916) and 24ct is 99.9% (999). A gram of 18ct holds roughly twice the fine gold of a gram of 9ct, so, weight for weight, it is worth about twice as much. Mixed carats are separated and weighed on their own before valuing, so each part of a lot is paid for what it actually is. GoldPaid confirms the purity by XRF and shows the calculation in a written offer before you decide.
What moves the UK scrap gold price
A UK scrap gold rate starts from the international gold price converted into pounds. GoldPaid’s margin is already inside the figure you are offered, so nothing further is taken off. Two markets set the gold price between them. One is gold itself, benchmarked by the LBMA Gold Price, set twice each London business day. The other is sterling. Because gold is quoted in dollars, a fall in the pound lifts the rate a UK seller gets even on a day when the dollar price has not moved at all.
- Central banks and jewellery demand. Reserve buying by central banks and jewellery demand across Asia are the heaviest pulls on supply, with recycled scrap flowing back the other way.
- Interest rates and the dollar. Gold pays no income, so when real interest rates fall or the dollar weakens, investment demand tends to firm the price.
- Nervous markets. Geopolitical events, banking stress and inflation expectations all push money towards gold as a perceived safe haven.
- The pound. Sterling does as much work in your final figure as gold does.
None of which is an argument for waiting. Gold falls about as often as it rises, and calling the turn is a different job altogether from clearing out scrap you have no use for. Your offer is priced against the rate on the day the parcel is assessed, and that rate is printed in the written breakdown.
Why the firm offer follows an XRF test
A market rate is a starting point, not an offer. Real scrap rarely matches its own hallmarks. Solder at a clasp joint is usually a lower carat than the body of the chain. Repairs were done over the years in whatever alloy the jeweller had to hand. Stones and base-metal fittings add weight that is not gold at all, and an unhallmarked piece can turn out to be solid 22ct or plated brass. That is why a firm GoldPaid offer only ever follows an XRF assay of the items themselves, and why a buyer willing to commit to a figure without seeing what you have is either guessing or planning to revise it later.
A worked example on a mixed parcel
Mixed carats are separated before anything is priced, so take a worked example: 18.4g of 9ct (a snapped curb chain, a bent signet ring, two odd earrings) and 6.2g of 18ct (a broken pendant). At 37.5% pure the 9ct portion holds 6.9g of fine gold. At 75% the 18ct portion holds 4.65g. Each portion is weighed and assayed on its own and priced against the live market for its own carat, then the two figures are added. Nothing is averaged into one blended figure for the parcel. Your written breakdown shows both rows, the weight, the rate used and the total, before you are asked to decide anything. The full method is on how we value gold, with a deeper walkthrough on scrap gold value.
Checking the underlying price yourself
You do not have to take a buyer’s word for where the underlying price sits. The LBMA Gold Price is set twice each London business day, at 10.30am and 3pm UK time, in an electronic auction administered by ICE Benchmark Administration, and the LBMA website publishes it with a delay, to midnight London time on the day it is set. GoldPaid prices against the live gold market rather than that benchmark, converted to pounds at the prevailing GBP/USD exchange rate. Divide a per-ounce figure by 31.1035 and multiply by your carat purity and you have the fine-gold value any buyer is working beneath. Assay, refining, carriage and margin account for the gap. The rate in your written scrap offer is the rate on the day your items are assessed, not last week’s and not a headline figure quoted to win the enquiry.
Are scrap gold prices the same everywhere in the UK?
The wholesale rate is national. There is no London versus Manchester versus Glasgow rate for the metal itself. Buyers differ on their margin, on whether they assay at all, and on how transparently the figure is shown. A high-street shop has rent, staff and rates that come out of what it can pay; a postal-only buyer carries less of that overhead and that often (not always) shows up in the figure. The honest comparison is whatever rate you see in your written offer. That is the figure to compare, and why gold recycling prices differ between buyers sets out the five variables that produce the spread.
GoldPaid serves every UK postcode by post. Your scrap goes by Royal Mail Special Delivery on a prepaid label, you receive a written offer back, and you decide. The full UK-wide route is on sell gold by post UK and the specific scrap process is on sell scrap gold.
Common questions
How much is a gram of 9ct scrap gold worth?
9ct gold is 37.5% pure gold, commonly marked 375. A selling value cannot be established from that stamp alone: we also check the item’s composition, payable weight, stones and fittings. Send a photograph for a rough estimate where possible; the final figure follows inspection and appears in your written offer.
Is my offer just a rate times the weight?
Once the purity and weight are confirmed, broadly yes: the figure reflects the live market for the confirmed carat, with our margin already inside it, so nothing further is taken off. Real scrap often differs from its hallmarks, so the XRF test and the scales decide the carat and payable weight, and the written breakdown shows every figure, including the rate used.
How often do scrap gold prices change?
The wholesale gold price moves continuously, so what you are paid moves with it. Your firm offer is priced against the market on the day we assess your items, not the date of this page. How often does the scrap gold price change? separates the wholesale market, the twice-daily LBMA benchmark and a buyer figure.
Should I wait for the gold price to rise before selling scrap?
Honestly, that is impossible to call. Gold moves both ways and timing the market is a separate skill from selling scrap. If you have items you no longer want, the rate today is the rate you can act on.
Is the margin taken off after you quote a figure?
No. The margin is already inside the figure you are offered, not a wholesale number with a deduction still to come out of it. Your written breakdown shows the rate applied to your assayed weight and purity so the arithmetic can be checked.
Do scrap rates change between high street and postal buyers?
The wholesale rate is national. Buyers differ on margin and on how transparently the figure is shown. A postal-only buyer carries less rent and staff overhead than a high-street shop and that often (not always) shows in the figure. Compare the written offer, not the headline.
How do I get a rough idea of what my scrap gold is worth?
Send a photo of your scrap and any stamps on WhatsApp and we will give you a rough estimate. It is only ever an estimate until an XRF assay confirms the purity and weight. Final offers depend on inspection, item weight, purity, hallmarks, stones, non-gold components, condition and the live precious-metal market.
Can I sell scrap gold by post without visiting a shop?
Yes. GoldPaid is postal-only. Send a photo on WhatsApp for a rough estimate, request a free tracked label, and post when ready. Your parcel travels on Royal Mail Special Delivery Guaranteed, tracked and signed for. Royal Mail cover may be available up to £2,500 depending on the postal method and cover level used. GoldPaid can confirm the appropriate postal option before you post, and a larger lot can be split across more than one prepaid label at no charge.
What counts as scrap gold?
Any gold item sold for its metal content rather than its wearability or design. In practice: broken chains, odd earrings, misshapen rings, worn-out bands, tangled lockets, dental crowns, bent charms and anything that no longer earns its keep as jewellery. Hallmarked and unhallmarked both count; condition does not change the per-gram figure, only how obvious the gold is before an XRF test.
Is broken gold worth less than wearable gold?
No — not on metal value. 9ct is 9ct whether the chain still clasps or not; the per-gram rate is the same for a worn-out bracelet and a wearable one. A rare designer piece can carry a wearable premium above metal (we flag those), but the baseline figure for scrap is identical.
Is unhallmarked gold still scrap gold?
Yes. Many foreign-bought pieces, pre-1973 British items (hallmarking became compulsory on new items under the 1973 Act) and under-weight pieces (below the hallmark threshold) are genuinely gold without a UK hallmark. XRF assay confirms the content either way, and the written offer records what the test found rather than what any stamp claims.
Can I send mixed carats in one parcel?
Yes — mixed parcels are the normal case. Each item is XRF-assayed individually and the written breakdown shows the rate used per carat, so a parcel with 9ct wedding bands, 18ct chain and a 22ct Sovereign-mount gets three separate rates applied, not one blended figure.
Not the question you had? The full GoldPaid FAQ covers the rest, from postal cover and ID checks to what happens if you decline the offer.
Speak to us before you post
Please send us photos on WhatsApp, and we will help you. We give a rough estimate where possible and arrange postage with you after our conversation. Your final offer follows inspection.