How Much is a Gold Ring Worth
It’s no secret anymore that gold prices have been increasing year on year for the last 10 years. With prices shooting for the $2000 an ounce barrier, it is mind-boggling to think that back in 2001, gold was less than $300 an ounce. That is an almost 7-fold increase in price. Small wonder people are starting to scramble arond their homes rustling up any scrap gold jewelry and trinkets they can get their hands on. Cashing in on your gold seems to all the rage nowadays with newspaper ads, TV spots and ‘sell your gold’ websites popping up every other day.
You may even be wondering how much a gold ring is worth. After all, gold rings are a very common form of jewelry not only bought for personal use but also presented at special occasions such as class graduations, engagements and weddings. They can even be given as investment gifts such as in the case of gold sovereign rings which feature a full or half 22kt gold sovereign coin mounted within the ring’s face.
Instant ‘How Much is a Gold Ring Worth’ Calculator
The specially designed and easy to use ‘How Much is a Gold Ring Worth’ calculator shown here will allow you to quickly and easily find out how much your gold ring is worth. You will need to know the weight of the ring and its purity.
Want to Cash in on Your Gold?
If you have figured out how much your gold ring is worth and are looking to sell it, click on the ‘Cash in On my Gold‘ link to see how you can easily turn your ring into hard US dollars at a good price.
Simply weigh your ring but bear in mind that if it is embellished with a gemstone or any other non-gold feature, you will have to estimate the weight of the such elements and deduct it from the total weight before you can figure out how much gold is worth.
Look for a hallmark on the inside of the band. This will generally be a three digit number which should be entered into the field ‘Millesimal Fineness’ on the calculator below. If you know for sure the karatage of the ring you can alternatively use the ‘Karats’ field.
Other Gold Ring Worth Calculators
By Ring Type
- How Much is a Gold Class Ring Worth
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- How Much is Gold Engagement Ring Worth
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- How Much is Gold Wedding Ring Worth
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- How Much is Gold Sovereign Ring Worth
More than the band, what really counts is the gold bullion coin that is enthroned within it.
By Ring Purity
- How Much is a 9k Gold Ring Worth
- How Much is a 14k Gold Ring Worth
- How Much is a 18k Gold Ring Worth
Using the ‘How Much is a Gold Ring Worth’ Calculator
For example, lets say you have a solid gold ring that weighs half an ounce. At a gold price of $1600 an ounce, this calculates to a gold worth of $800. So any scrap dealer that offers you significantly less than that is ripping you off.
You will know what a significant amount is. It is when you get offers like $400 and $500! The best offers you get may be anywhere between 20 and 30% less than how much your gold ring is actually worth.
What About Gold Rings with Stones
Note that the above discussion is relevant to plain gold rings like class rings and wedding bands for example that do not contain any precious stones or in the case of sovereign rings, ones that do not contain any actual gold bullion coins!
Gold engagement rings on the other hand for example normally feature a precious gemstone such as diamond. Clearly if this is the case, your gold ring is going to be worth more that just its melt value. In fact depending on the quality and size of the diamond, it could easily be worth twice or thrice the amount calculated based on the bullion content alone.
In such case, you have two options if you are looking to cash in. You can still sell it as scrap in which case the gold content and diamond gemstone will be priced individually.
Or, you can visit a jeweller and see what quote you are given based on the ring in its entirety because a jeweller will be interested in aeshtetic and resale aspects of the ring as well as its core value. In other words, you could easily get a better price than scrap since your ring will be carrying a jewelry premium as well.
Does Color Affect How Much my Gold Ring is Worth?
If you intend to sell as scrap, then the answer is no. Color is an aesthetic attribute and not one that governs purity. In other words whether you have a 14k white gold ring or a 14k yellow gold ring or even a 14k rose gold ring, what matters is not the color but the fact that it is 14k.
If you intend to sell to a jeweller though, the color will make a difference as it will affect how much the jeweller can expect to resell it for based on current fashions and trends.
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