How Much Is My Gold Worth in 2026?

If you've got gold jewelry sitting in a drawer, whether it's a class ring you never wear, a broken chain, or pieces from a relationship that's over, you've probably wondered what it's actually worth. The answer depends on a few key factors, and understanding them will help you get a fair deal when you sell.

How Gold Value Is Calculated

The value of your gold jewelry comes down to three things: karat purity, weight, and the current spot price of gold.

Karat purity tells you how much of the item is actually gold. 24K is pure gold (99.9%). 18K is 75% gold. 14K is 58.3% gold. 10K is 41.7% gold. Most jewelry in the United States is 10K or 14K. The higher the karat, the more gold content, and the more it's worth by weight.

Weight is measured in grams or pennyweights (a pennyweight is about 1.55 grams). Heavier pieces obviously contain more gold.

The spot price is the current market price for gold per ounce on the commodities exchange. This changes throughout every trading day. As of early 2026, gold has been trading at historically elevated levels, which means it's a particularly good time to sell if you've been thinking about it.

What About Diamonds and Gemstones?

If your jewelry includes diamonds or gemstones, those add value beyond just the gold content. However, diamonds in jewelry settings are typically worth less than loose, certified diamonds. A reputable buyer will evaluate the stone separately from the metal, looking at carat weight, cut, clarity, and color.

What Affects Your Offer?

Different buyers will offer different amounts. Here's what can affect what you're offered:

Pawn shops and gold buyers typically pay a percentage of the melt value (the raw gold content value), usually ranging from 60-85% depending on the buyer and the item
Brand-name jewelry (Tiffany, David Yurman, etc.) may command a premium above melt value because it has resale value as-is
Damaged or broken jewelry is still worth the gold content. A single earring or broken chain is still buyable
The more transparent the buyer is about their evaluation process, the more confidence you can have in their offer

Tips for Getting the Best Price

Know the current spot price before you go. A quick search for "gold spot price" will tell you what gold is trading at that day
Get evaluations from more than one buyer if possible
Ask how they test purity. Professional XRF testing is the most accurate method
Ask what percentage of spot price they're paying. A good buyer will be upfront about this
Don't accept the first offer if it feels low, but also understand that no buyer pays full spot price because they need margin to operate

Where to Sell Gold in Missoula

Cash 1 Pawn evaluates gold and jewelry every day during business hours with no appointment needed. We test karat purity, weigh your items, and calculate an offer based on that day's market rates. The whole process takes a few minutes, and you walk out with cash if you accept. If you'd rather get a pawn loan against your gold instead of selling, that option is available too.

Stop by our store at 8720 Roller Coaster Road or call 406-728-2274 with questions.