The more you know...
How Gold Buying Works: Understanding the Value of Your Jewelry
Published: Jun 12, 2026
Understanding Gold Buying: How We Determine a Fair Value for Your Jewelry
One of the most common questions and phone calls we get is "Do you buy gold?" And the answer is "YES!" But we know it can be a complicated situation and we want to help! If you've ever searched "gold price today" online and wondered why an offer for your old jewelry doesn't match that number, you're not alone. Gold buying can be confusing, and we believe our customers deserve a clear understanding of how the process works.
At Saxons Fine Jewelers, we're committed to offering fair, transparent evaluations when purchasing unwanted gold jewelry. Here's what goes into determining its value.
The Gold Price You See Online Isn't the Price of Most Jewelry
When financial websites report the daily gold price, they are almost always referring to 24-karat gold, which is considered pure gold. It is also most commonly reported in ounces, while we weigh in grams.
Most jewelry is not made from pure gold. Instead, it is alloyed with other metals to increase durability and wearability.
Common gold purities include:
10K Gold – 41.7% pure gold
14K Gold – 58.5% pure gold
18K Gold – 75% pure gold
24K Gold – 99.9% pure gold
Because of this, a gram of 14K gold contains significantly less pure gold than a gram of 24K gold. The value of your jewelry must first be adjusted based on its actual gold content.
Weight Is Only One Part of the Equation
When evaluating gold, we consider:
The current daily market price of gold
The purity (karat) of the item
The weight of the gold
The amount of recoverable precious metal
This helps us determine the intrinsic value of the gold contained within the piece.
Why Refining Costs Matter
Once gold is purchased, it doesn't immediately become usable gold again.
The jewelry must be sent to a professional refiner, where it is melted, assayed, separated, and processed to recover the precious metal. Refiners charge fees for this service, and there are additional costs associated with shipping, handling, and processing the material.
These necessary expenses are part of every gold-buying transaction throughout the industry and are factored into the final offer.
Our Commitment to Transparency
We understand that selling jewelry can feel personal, and we want you to feel comfortable throughout the process.
When you bring your gold to Saxons Fine Jewelers, we'll explain what you have, identify its gold content, weigh it, and review how we arrive at our offer. Our goal is for you to leave with a clear understanding of the valuation—not questions.
There is never any pressure to sell.
What to Bring
If you'd like to sell unwanted gold jewelry, simply bring:
Your gold items
A valid government-issued photo ID
If you choose to sell, payment is issued by check.
Turn Unwanted Gold Into Something New
Whether you're cleaning out a jewelry box, sorting through inherited pieces, or simply ready to part with items you no longer wear, selling your gold can be a great way to turn unused jewelry into cash.
We're always happy to answer questions and provide a professional evaluation. Stop by Saxons Fine Jewelers and let our team help you understand the value of what you have.
One of the most common questions and phone calls we get is "Do you buy gold?" And the answer is "YES!" But we know it can be a complicated situation and we want to help! If you've ever searched "gold price today" online and wondered why an offer for your old jewelry doesn't match that number, you're not alone. Gold buying can be confusing, and we believe our customers deserve a clear understanding of how the process works.
At Saxons Fine Jewelers, we're committed to offering fair, transparent evaluations when purchasing unwanted gold jewelry. Here's what goes into determining its value.
The Gold Price You See Online Isn't the Price of Most Jewelry
When financial websites report the daily gold price, they are almost always referring to 24-karat gold, which is considered pure gold. It is also most commonly reported in ounces, while we weigh in grams.
Most jewelry is not made from pure gold. Instead, it is alloyed with other metals to increase durability and wearability.
Common gold purities include:
10K Gold – 41.7% pure gold
14K Gold – 58.5% pure gold
18K Gold – 75% pure gold
24K Gold – 99.9% pure gold
Because of this, a gram of 14K gold contains significantly less pure gold than a gram of 24K gold. The value of your jewelry must first be adjusted based on its actual gold content.
Weight Is Only One Part of the Equation
When evaluating gold, we consider:
The current daily market price of gold
The purity (karat) of the item
The weight of the gold
The amount of recoverable precious metal
This helps us determine the intrinsic value of the gold contained within the piece.
Why Refining Costs Matter
Once gold is purchased, it doesn't immediately become usable gold again.
The jewelry must be sent to a professional refiner, where it is melted, assayed, separated, and processed to recover the precious metal. Refiners charge fees for this service, and there are additional costs associated with shipping, handling, and processing the material.
These necessary expenses are part of every gold-buying transaction throughout the industry and are factored into the final offer.
Our Commitment to Transparency
We understand that selling jewelry can feel personal, and we want you to feel comfortable throughout the process.
When you bring your gold to Saxons Fine Jewelers, we'll explain what you have, identify its gold content, weigh it, and review how we arrive at our offer. Our goal is for you to leave with a clear understanding of the valuation—not questions.
There is never any pressure to sell.
What to Bring
If you'd like to sell unwanted gold jewelry, simply bring:
Your gold items
A valid government-issued photo ID
If you choose to sell, payment is issued by check.
Turn Unwanted Gold Into Something New
Whether you're cleaning out a jewelry box, sorting through inherited pieces, or simply ready to part with items you no longer wear, selling your gold can be a great way to turn unused jewelry into cash.
We're always happy to answer questions and provide a professional evaluation. Stop by Saxons Fine Jewelers and let our team help you understand the value of what you have.