Almost every karat of real gold can be sold: 10K, 14K, 18K, 22K, and 24K all have buyers in Canada. If you want to sell gold from an old jewellery box, the real questions are what each karat is worth and whether you are being paid fairly for it.
Most of us have a drawer holding a broken chain, a single earring or a ring that no longer fits. The good news is that it is rarely worthless. This guide explains which karats sell, how value is worked out from purity, weight and spot price, and how to sell gold in Canada without being underpaid.
What Does “Karat” Actually Mean?
Karat (K) measures gold purity on a scale of 24 parts. Pure gold is 24K. An 18K piece is 18 parts gold and 6 parts other metals, which makes it 75% gold. Those alloy metals, usually copper, silver or zinc, add strength and change the colour.
Karat vs carat
The two words sound alike but mean different things. Karat is gold purity. Carat (ct) is the weight of a gemstone, such as a diamond. A ring can be 14K gold with a half-carat stone.
How to read the karat stamp on your gold
Look inside the band or on the clasp for a small hallmark. You will see either the karat (10K, 14K, 18K, 22K) or a number showing purity in parts per thousand: 417 for 10K, 585 for 14K, 750 for 18K, 916 for 22K and 999 for 24K. A magnifying glass or phone camera helps.
Which Karats of Gold Can You Sell?
All solid-gold karats sell: 10K, 14K, 18K, 22K and 24K. Buyers also take dental gold, scrap, single earrings, tangled chains and broken pieces. Condition barely matters, because a refiner melts the gold and pays for what is in it. Damaged items are not a problem, and pieces you would never wear again still carry full gold value.
Can you sell gold-plated or gold-filled jewellery?
Usually not for its gold content. Gold-plated pieces carry only a microscopically thin coating over base metal, so there is almost nothing to recover. Gold-filled items have a thicker layer but are still mostly base metal, and most buyers will not pay for them. Items marked GP, GEP, HGE or “rolled gold” fall in this group.
What buyers will and will not accept
A reputable buyer tests your gold and pays by actual gold content, whatever its style or condition. Solid gold in any karat is accepted. Plated and filled pieces are normally declined, and a good buyer will tell you so rather than make a low offer. If a piece has no stamp, ask for it to be tested.
How Much Is Each Karat Worth?
Payout rises with purity: the higher the karat, the more pure gold in each gram. Prices move daily, so this section shows how value is worked out, not a live figure.
| Karat | Gold purity | Typical use |
| 24K | 99.9% | Coins, bars, investment gold |
| 22K | 91.7% | Traditional and ceremonial jewellery |
| 18K | 75% | Fine jewellery |
| 14K | 58.3% | Everyday jewellery, the most common in Canada |
| 10K | 41.7% | Durable, lower-cost jewellery |
How much is 10 karat gold worth?
Ten karat gold is 41.7% pure, so a gram of 10K holds about 0.417 g of real gold. Its value is that purity share multiplied by the current spot price, minus the buyer’s margin. It is worth less per gram than 14K or 18K, but it is still solid gold and worth selling, especially in bulk. Check the live rate on a spot-price chart before you sell.
How melt value is calculated
Melt value is the gold content of a piece at today’s spot price per troy ounce (31.1 g). The formula is simple:
weight in grams × purity × spot price per gram = melt value
For example, a 10 g chain in 14K holds 10 × 0.583 = 5.83 g of pure gold. Multiply that by the spot price per gram and you have its melt value. A buyer then pays a percentage of it to cover refining and profit, so ask for that percentage.
Separate your pieces by karat before you sell. A mixed lot is sometimes graded at the lowest karat in the pile, which costs you money.
Selling Gold by Form
The karat question is the same for every form, but how you are paid differs.
How to sell gold jewellery
If you want to sell gold jewellery, expect to be paid by weight and karat, not by what you originally paid at retail. Brand, style and sentiment rarely add value, with the exception of signed designer or antique pieces, which a jeweller may price above melt. Remove loose stones and weigh each karat separately.
How to sell gold coins
To sell gold coins, start by separating bullion from numismatic coins. Bullion coins, such as the Canadian Gold Maple Leaf, are priced close to the spot. The Royal Canadian Mint lists the Maple Leaf at .9999 fine. Rare or collectible coins can sell above melt, so have them appraised before they go to a scrap buyer.
How to sell gold bars and bullion
Bars are the easiest form to sell because their purity is stamped on them. Keep the original assay card or packaging, as it speeds up verification and often earns a better price. Weight and purity (usually .999 or .9999) set the payout, and buyers check both before quoting.
Dental gold, watches and broken pieces
Dental gold is usually 16K to 22K, and old gold watch cases are often 14K or 18K. Both are bought on gold content. Take out any non-gold parts, such as watch movements, if you can, and keep broken pieces rather than throwing them away.
How to Sell Gold in Canada: Step by Step
Here is how to sell gold in Canada, from drawer to payment.
- Identify the karat. Read the hallmark (10K, 14K, 18K, 417, 585, 750).
- Weigh it in grams. Use a kitchen scale that reads to 0.1 g, and weigh each karat separately.
- Check the spot price. Look up today’s gold price per troy ounce and convert it to grams.
- Work out a melt estimate. Use grams × purity × spot price per gram.
- Compare offers. Get at least two quotes, and ask what percentage of melt each buyer pays.
- Get paid. Accept the offer only once it is written down and the payment method is clear.
Bring government-issued photo ID. Buyers are required to verify who you are, and a reputable one will ask.
How to test or verify your gold’s karat
Start with the hallmark stamp. If it is worn or missing, an acid test scratches the metal and shows how it reacts to acid. At a dealer, XRF (X-ray fluorescence) testing is faster and does not damage the piece. Ask to watch the test.
Where to Sell Gold (and Who Pays the Most)
Where to sell gold depends on whether you value the best price or the least effort. Payouts are quoted as a rough percentage of spot value, and they vary by buyer, form and amount.
| Buyer type | Typical payout | Trade-offs |
| Bullion dealer | Highest for coins, bars and pure gold | Often wants larger or higher-purity items |
| Jeweller | Moderate | Convenient; may pay more for resaleable or designer pieces |
| Pawn shop | Lowest | Fast cash, but the widest margin |
| Online or mail-in buyer | Varies widely | Convenient, but you lose sight of the weighing and testing |
How to avoid getting lowballed
Work out a melt estimate before you walk in. Get at least two offers, and ask each buyer what percentage of melt they pay. Watch the testing and the weighing, and make sure the scale is zeroed and shows grams. Be cautious of anyone who offers a price before testing, or who pressures you to decide on the spot.
Do You Pay Tax When You Sell Gold in Canada?
Possibly. If you sell gold for more than you paid, the profit may count as a capital gain, and a portion of capital gains is generally taxable in Canada. Selling at or below your purchase price usually does not create a taxable gain. Keep your purchase receipts, since they establish your cost base. This is general information, not tax advice; confirm your situation with a tax professional or the Canada Revenue Agency.
Final Takeaway
Almost every karat of real gold is sellable. What you are paid depends on purity, weight and the spot price on the day. Before you sell, confirm your karat and weigh each piece, then ask for a quote based on melt value so you can see how the offer was built. A little preparation is usually all it takes to be paid fairly.
Frequently Asked Questions
It varies by buyer type, but most pay somewhere between half and the mid-nineties as a percentage of melt value. Pawn shops tend to sit at the low end and specialist gold buyers at the high end. Ask for the exact percentage so you can compare offers.
Multiply the live spot price per gram by your karat purity (for example, 0.585 for 14K). That gives melt value per gram. A buyer will then pay a percentage of it. Because prices move daily, always use a live figure.
Look for a hallmark such as 10K, 14K, 18K, or numbers like 417, 585, and 750. A buyer can confirm it with an acid or XRF test. If there is no stamp, ask for a test in front of you.
No. Only the gold content is paid. Gemstones, non-gold clasps and other parts are removed from the weighed total, so ask to see the net gold weight.
Spot price is for pure gold in bulk. Buyers cover assay, refining, overhead, and price risk, so they pay a percentage of melt value. That margin is normal as long as it is disclosed.
Check the live price, know your karat and weight, and collect several offers. Ask each buyer for their spot price and payout percentage, and avoid anyone who pressures you.
You can sell 10K, 14K, 18K, 22K and 24K gold in any form, including jewellery, coins, bars, scrap, broken pieces and dental gold. Buyers pay for the actual gold content. Gold-plated and gold-filled items are generally not worth selling for their gold content.
Ten karat gold is approximately 41.7% pure. Its melt value per gram is calculated by multiplying the current pure gold spot price per gram by 0.417. The actual amount you receive depends on the buyer’s payout margin and any applicable deductions.
You can try, but most gold buyers will decline gold-plated jewellery because the plating contains very little gold. Gold-filled pieces may contain more gold, but acceptance depends on the buyer. If an item has no karat stamp, ask to have it tested first.
Yes. 10K gold is solid gold and has resale value based on its gold content. It generally pays less per gram than higher-karat gold. Keep 10K pieces separate from 14K or 18K jewellery so each group can be tested and valued accurately.
Know your gold’s karat and weight, estimate its melt value, and get at least two offers. Ask each buyer what percentage of melt value they pay, and watch the testing and weighing process. Bullion dealers may offer competitive prices for eligible coins and bars, while specialist jewellery buyers may be better for other items.
A profit from selling gold may be subject to capital gains tax in Canada, depending on your circumstances and the applicable tax rules. Keep your purchase records and sale receipts. This is general information, so consult a qualified Canadian tax professional about your situation.
It varies by buyer type, but most pay somewhere between half and the mid-nineties as a percentage of melt value. Pawn shops tend to sit at the low end and specialist gold buyers at the high end. Ask for the exact percentage so you can compare offers.
Multiply the live spot price per gram by your karat purity (for example, 0.585 for 14K). That gives melt value per gram. A buyer will then pay a percentage of it. Because prices move daily, always use a live figure.
Look for a hallmark such as 10K, 14K, 18K, or numbers like 417, 585, and 750. A buyer can confirm it with an acid or XRF test. If there is no stamp, ask for a test in front of you.
No. Only the gold content is paid. Gemstones, non-gold clasps and other parts are removed from the weighed total, so ask to see the net gold weight.
Spot price is for pure gold in bulk. Buyers cover assay, refining, overhead, and price risk, so they pay a percentage of melt value. That margin is normal as long as it is disclosed.
Check the live price, know your karat and weight, and collect several offers. Ask each buyer for their spot price and payout percentage, and avoid anyone who pressures you.
You can sell 10K, 14K, 18K, 22K and 24K gold in any form, including jewellery, coins, bars, scrap, broken pieces and dental gold. Buyers pay for the actual gold content. Gold-plated and gold-filled items are generally not worth selling for their gold content.
Ten karat gold is approximately 41.7% pure. Its melt value per gram is calculated by multiplying the current pure gold spot price per gram by 0.417. The actual amount you receive depends on the buyer’s payout margin and any applicable deductions.
You can try, but most gold buyers will decline gold-plated jewellery because the plating contains very little gold. Gold-filled pieces may contain more gold, but acceptance depends on the buyer. If an item has no karat stamp, ask to have it tested first.
Yes. 10K gold is solid gold and has resale value based on its gold content. It generally pays less per gram than higher-karat gold. Keep 10K pieces separate from 14K or 18K jewellery so each group can be tested and valued accurately.
Know your gold’s karat and weight, estimate its melt value, and get at least two offers. Ask each buyer what percentage of melt value they pay, and watch the testing and weighing process. Bullion dealers may offer competitive prices for eligible coins and bars, while specialist jewellery buyers may be better for other items.
A profit from selling gold may be subject to capital gains tax in Canada, depending on your circumstances and the applicable tax rules. Keep your purchase records and sale receipts. This is general information, so consult a qualified Canadian tax professional about your situation.