A Comprehensive Guide to Selling Old Jewelry

If you have old jewelry sitting in a drawer and you're wondering what it's worth and where to sell it near you for cash, the short answer is that most pieces are valued on their gold and stones, and who you sell to matters as much as what you're selling. With gold prices at record highs in 2026, offers for the same gold chain can range from about half its melt value at a pawn shop to more than 90% at a specialist buyer. Here's how to estimate what your jewelry is worth, which jewelry buyers near you tend to pay the most, and how to avoid lowball offers.

Who Pays the Most for Old Jewelry

One industry comparison of a 15-gram, 14-karat gold chain worth about $1,125 in melt value shows how much offers can vary:

Buyer	Typical offer for that chain	Best for
Pawn shop	About $450 to $675 (40% to 60% of melt)	Cash today, or a loan instead of a sale
Local jeweler	About $845 to $955 (75% to 85%)	Designer, antique, and wearable pieces they can resell
Gold and coin buyer	About $955 to $1,035 (85% to 92%)	Everyday scrap gold jewelry and coins
Refiner	About $1,070 to $1,085 (95% or more)	Large estate lots of scrap gold

No buyer pays 100% of melt value, because they have to cover refining, overhead, and profit. But the gap between the lowest and highest offer is often several hundred dollars, which is why getting more than one quote matters.

How to Estimate What Your Gold Jewelry Is Worth

For most gold jewelry, the starting point is melt value: the value of the pure gold it contains at today's price.

Find the karat stamp, usually inside a ring band or near a clasp (10K, 14K, 18K, or 585, 750, and so on).
Weigh it in grams on a kitchen or jewelry scale. Separate pieces by karat.
Multiply: weight in grams × purity × the current gold price per gram.

Karat	Gold purity
10K	41.7%
14K	58.3%
18K	75%
22K	91.7%
24K	99.9%

Gold is quoted per troy ounce, which is about 31.1 grams, so divide the ounce price by 31.1 to get a price per gram. That number is your benchmark; a fair offer from a reputable buyer is usually 70% to 90% of it.

What About Diamonds, Gemstones, and Silver?

Diamonds: resale offers are usually far below what was paid at retail. A grading report from a recognized lab, such as GIA, helps you get a fair number for larger stones.
Colored gemstones: value depends on the stone, quality, and treatment; small accent stones often add little.
Silver: sterling (marked 925) is worth far less per gram than gold, but heavy pieces, flatware, and coins can add up.

When a Piece Is Worth More Than Its Gold

Some jewelry is worth more intact than melted, and those pieces deserve a different buyer:

Signed designer pieces with a maker's mark or original paperwork.
Antique and vintage jewelry from collectible eras such as Victorian, Art Deco, or mid-century.
Fine-quality stones in good settings that a jeweler can resell as is.

For these, ask a local jeweler, an estate jewelry buyer, or an auction house, and tell them you want a resale offer, not a scrap offer. If you're curious which styles have held their value best, see 10 jewelry pieces that have increased in value over time and what to know about jewelry as an investment.

Where to Sell Old Jewelry Near You

Local jewelers: convenient, can recognize quality, and may pay more for wearable pieces. Some offer free evaluations.
Gold and coin buyers: often the best price for scrap gold and coins, with transparent pricing tied to the daily gold price.
Pawn shops: fastest cash, and you can take a loan instead of selling, but usually the lowest offers. Use their quote as a floor.
Estate jewelry buyers and auction houses: best for antique, designer, or high-value pieces.
Consignment: a shop sells the piece for you and keeps a cut. It can net more but takes longer.
Mail-in buyers: some pay well, but only use insured shipping, and make sure you can reject the offer and get your items back free.

How to Get the Best Price

Sort and weigh your pieces by karat before you go.
Check the day's gold price so you can estimate melt value.
Get at least three quotes, including one from a gold and coin buyer.
Watch the testing and weighing. A reputable buyer tests purity and weighs in front of you on a certified scale.
Ask for the offer as a percentage of melt so you can compare buyers.
Don't take the first offer; many are negotiable.
Bring your ID, since many states require it for gold and jewelry sales.
Keep sentimental pieces aside until you've decided, since a sale can't be undone.

Red Flags to Avoid

Buyers who won't tell you the karat, weight, or price per gram they're using.
Pop-up "gold buying events" in hotels or temporary locations that pressure you to sell on the spot.
Mail-in offers with no insurance, or that keep your jewelry if you decline.
Lumping all karats together into one weight, which can lower your payout.

Appraisal vs. Selling Price

An insurance appraisal estimates what it would cost to replace a piece at retail, which is almost always much higher than what a buyer will pay. If you need a written valuation for insurance or an estate, use an independent appraiser who isn't also offering to buy the piece.

The Bottom Line

To sell old jewelry near you for the most cash, know your melt value, separate scrap gold from pieces that are worth more intact, and get quotes from at least three buyers, including a gold and coin buyer. With gold near record highs, even broken chains and single earrings can be worth more than you'd expect.

Shopping for jewelry instead? See our diamond jewelry clearance tips.