How Does Pricing Work for Scrap Jewellery?
At Guardian, pricing is based on the spot market price for gold and the exchange rate for the Canadian dollar, to get the Canadian gold spot price. Our Commission is 1.5% of the spot price. If the spot price is $2300 per ounce, we will pay 98.5% of that amount at $2265.50 per ounce.
Jewellery comes in different karats. The higher the karat, the higher percentage of gold there is. An easy way to calculate the percentage of the karat is taking your karat value whether it be 10, 14, 18, 20, or 22K, dividing it by 24, and then multiplying it by 100.
For example, if you have a piece of jewellery that is 10K, it would be 10 divided by 24 multiplied by 100, which equates to 41.6%, the amount of gold in 10 karat pieces. Pricing scrap gold for each karat is done by multiplying our spot price by the karat percentage and dividing by one troy ounce (31.1035). This allows us to also provide the price per gram for each karat value.
Guardian will be happy to assist and answer any questions you may have regarding pricing for scrap gold jewellery!
Ready to sell your metal?
contact us at 416-861-1888