If you have old chains, rings or a bracelet you no longer wear, the first question is simple: how much is it worth? The answer depends on three things you can work out yourself, and one thing only a proper test can confirm. This guide explains how gold is valued in South Africa, how to estimate your own pieces, and what to expect when you sell.
The three numbers that decide what your gold is worth
- The gold price. Gold is traded internationally in US dollars per troy ounce (31.1035 grams), with benchmark prices published by the London Bullion Market Association (LBMA). The rand price depends on that dollar price and the rand exchange rate, so it changes during the day. You can see today’s figure on our live gold price per gram page.
- The purity (carat). Most jewellery is an alloy. 9ct gold is 37.5% gold, 14ct is 58.5%, 18ct is 75% and 22ct is about 91.6%. The rest is other metals such as copper or silver.
- The weight of the gold. Buyers weigh in grams. Stones, springs, steel parts and solder are not gold, so the gold weight of a piece can be lower than its total weight.
A simple formula
Spot value of your gold = weight in grams x purity x price of pure gold per gram.
For example, a 10g chain in 9ct gold contains 10 x 0.375 = 3.75g of pure gold. Multiply that by the day’s price per gram of pure gold and you have the market (spot) value of the metal. Our gold value calculator does this for you using a live price feed.
| Carat | Hallmark | Gold content | Gold in 10g of jewellery |
|---|---|---|---|
| 9ct | 375 | 37.5% | 3.75g |
| 14ct | 585 | 58.5% | 5.85g |
| 18ct | 750 | 75% | 7.5g |
| 22ct | 916 | 91.6% | 9.16g |
| 24ct | 999 | 99.9% | 9.99g |
Why a buyer’s offer is below the spot price
The spot price is the value of pure gold on the international market. A buyer has to test, handle and refine your jewellery before the gold can be sold on, so offers are normally below spot. What matters is how far below, and whether any fees are taken off afterwards. For longer-term price history, the World Gold Council publishes gold prices in many currencies, including the rand.
At Zeek Gold we do not deduct any commission or evaluation fees. The offer we make is the amount you are paid. As an example, in October 2026 a 10g 9ct gold chain was worth about R8 000 at Zeek Gold. That figure moves with the gold price, so always ask for a current quote.
Things that can change the value
- Tested purity. A hallmark is a good start, but older or imported pieces are sometimes different from their stamp. We confirm purity with an XRF analyser, which does not damage your jewellery.
- Diamonds and gemstones. These are valued separately from the gold. Certified diamonds (for example GIA or EGL) are easier to value. See selling diamonds.
- Coins and bullion. Krugerrands contain one troy ounce of fine gold per 1oz coin and are valued on gold content. See selling Krugerrands.
- Branded or designer pieces and luxury watches. These can be worth more than their metal value. See selling watches.
How to get the best price
- Check today’s price per gram first so you know the market value.
- Ask how the offer was worked out: weight, purity and price per gram.
- Ask whether any commission, testing or admin fees will be deducted.
- Make sure your items are weighed and tested where you can see them.
- Remember you are never obliged to sell. Get a second opinion if you are unsure.
Where to sell gold with Zeek Gold
Visit our Alberton or Springs branch (9am to 5pm daily, walk-ins welcome), book an appointment at Sandton or Cape Town, or sell by insured courier from anywhere in South Africa. Bring a valid ID or passport and a proof of address.
Frequently asked questions
How do I calculate the value of my gold?
Multiply the weight in grams by the purity (0.375 for 9ct, 0.585 for 14ct, 0.75 for 18ct, 0.916 for 22ct) and by the price of pure gold per gram. Zeek Gold’s live price page has a calculator that does this for you.
Why will a buyer pay less than the spot price?
The spot price is the value of pure gold. Buyers have to test, handle and refine jewellery before the gold can be sold on, so offers are normally below spot. Zeek Gold does not deduct any commission or evaluation fees.
How much is a 10g 9ct gold chain worth?
It depends on the day’s gold price. In October 2026, a 10g 9ct gold chain was worth about R8 000 at Zeek Gold.
