How much is your gold jewelry worth? Most people have no idea — and that's exactly why they accept an offer that's too low. Yet there's nothing mysterious about the value of your gold: it can be calculated down to the gram, with a simple formula you can apply yourself in two minutes.
| Karat | Purity | Price per gram (spot, USD) | Jayma Or buy-back price |
|---|---|---|---|
| … | |||
How much is my gold worth? Whether you have a forgotten ring, a broken chain, old earrings or some broken gold at the back of a drawer, all of these have a precise value. By understanding how it's calculated, you arrive at the sale already knowing what your gold is worth — and no one can underpay you anymore.
At Jayma Or, we buy gold jewelry, broken gold, scrap, coins and bars in Dakar every day. We test, we weigh in front of you, and we pay cash, the same day, based on the global price. Here, with full transparency, is the exact method to estimate what your jewelry is worth.
In this guide, you'll learn:
- the exact formula that determines the value of your gold;
- a worked example, step by step, to practice with;
- the #1 mistake that makes people think their gold is worth more (or less) than it really is;
- the value of each type of jewelry: rings, wedding bands, chains, bracelets, earrings, broken gold.
The formula to find out how much your gold is worth
The buyback value of your gold rests on three things, and three only:
- The purity (the karat). 24-karat gold is 99.9% pure. 21-karat gold contains 87.5% gold, 18-karat gold 75%, and 14-karat gold 58.3%. The higher the karat, the more pure gold the piece contains.
- The exact weight. Your piece is weighed to the gram, and even to a tenth of a gram, on a precise scale.
- The day's rate. The price of gold changes every day according to the global market. It's what sets the value of a gram of gold for each karat.
So the formula is: weight × purity × today's price per gram = the value of your gold. The day's buying rate is shown in real time on our homepage, karat by karat. That's your reference point: check it before any sale.
A concrete example to run the calculation
Let's take an 18-karat gold chain that weighs 10 grams. How do you estimate its value?
- The karat: 18 karat, meaning a purity of 75%. The chain therefore contains 10 g × 75% = 7.5 grams of pure gold.
- The day's rate: check the price per gram of 18-karat gold shown on our homepage that same day.
- The value: multiply the weight of the chain by the day's price per gram for 18 karat. The result is the buyback value of your chain.
The principle is identical for 21 karat (87.5%), 14 karat (58.3%) or 24 karat (99.9%): you just take the right purity and the right rate. Do the calculation yourself: take one of your pieces, find its karat, estimate its weight, and multiply by the day's rate. You'll already have a realistic range before you even contact us.
The #1 mistake: confusing purchase price with resale value
It's the mistake almost everyone makes: believing that gold is bought back at the price paid in a jewelry shop. In a shop, you pay for the gold + the craftsmanship + the brand + the seller's margin. At resale, only the gold the piece actually contains counts — the craftsmanship and the brand are not bought back.
Another trap: stones and non-precious elements. A diamond, a colored stone or a steel clasp is not gold and doesn't enter into the price-per-gram calculation. The value is based solely on the gold actually present. To go further, read our guide on selling your gold jewelry in Dakar.
How much each type of gold jewelry is worth
The good news: the same formula applies to everything. Here's what we buy, and what matters for each:
- Rings, wedding bands and engagement rings. Yes, we also buy your gold wedding bands and engagement rings. If they have a stone, it's the gold alone that's weighed and valued.
- Chains and necklaces. Often the heaviest pieces: their weight makes them good-value jewelry.
- Bracelets. Weighed to the gram like everything else, according to their karat.
- Earrings. Even unmatched or without the pair, they keep their gold value.
- Broken gold and scrap. A damaged, bent or broken piece is worth exactly the same as an intact one for equal weight and karat. It's the amount of gold that counts, not the condition.
Unsure about the karat? Look for the hallmark (24K, 21K, 18K, 14K, or 999, 875, 750, 585). If it's illegible, a quick test determines it; discover the methods for checking the purity of gold.
How to check that the estimate is fair
An honest estimate is done in front of you and is explained. Here's how to make sure you're not being underpaid:
- Insist on a weighing in front of you, on a precise scale. Be wary of an "eyeball" estimate. Our article on how gold is weighed at jewelers explains how it should happen.
- Ask for the day's rate used for your karat, and check it.
- Have the calculation broken down: weight × purity × rate. If they refuse to show it to you, be wary.
Frequently Asked Questions
How much is my gold worth if I don't know the karat?
No problem: a quick test determines the purity precisely before the weighing. You can also look for the hallmark (750 for 18 karat, 875 for 21 karat, etc.). Once the karat is known, the formula weight × purity × day's rate gives the exact value.
Are my gemstones counted in the price of the gold?
No. The calculation is based solely on the gold actually contained in the piece. Stones and non-precious elements are not valued as gold; only the pure gold content enters into the buyback price.
Is a broken piece worth less than an intact one?
No. For equal weight and karat, a broken piece is worth as much as an intact one. It's the amount of gold that determines the value, not the condition. We buy broken gold, scrap and old jewelry on exactly the same basis.
Do you buy wedding bands and engagement rings?
Yes. We buy your gold wedding bands and engagement rings, whether they have a stone or not. In that case, it's the gold alone that's weighed and valued; the stone is assessed separately if it has any value.
Why is the buyback price lower than the price paid in a jewelry shop?
Because in a shop you pay for the gold + the craftsmanship + the brand + the margin. At resale, only the gold counts. It's normal: the buyback price reflects the real value of the gold contained in the piece, at the day's rate.
Take action: get your free estimate
You now know the exact formula: weight × purity × day's rate. You can estimate your jewelry yourself... and we confirm it for free.
Get a free, no-obligation estimate: send a photo of your jewelry by WhatsApp to +221 78 111 66 87, or book an appointment. We test, weigh in front of you and pay cash the same day — and if you can't travel, we send a trusted courier to you.
Do the calculation, check the day's rate, then write to us: in a few minutes you'll know how much your gold jewelry is really worth.