Most gold jewellery sold in Mississauga is 22K, especially pieces bought in India, Pakistan, Dubai or from South Asian jewellers in the GTA. Its value per gram is simple arithmetic once you know three numbers.
The formula
Value per gram = spot price of gold (per gram, in CAD) × purity.
Spot price is the world market price for one troy ounce of pure gold, quoted in US dollars. A troy ounce is 31.1035 grams, so the CAD price per gram is the USD ounce price, converted to Canadian dollars, divided by 31.1035. How we price your gold explains how that number becomes an offer.
Purity is what the karat stamp tells you. 24K is essentially pure (99.9%). 22K is 22 parts gold in 24, or 91.67%. So a gram of 22K contains 0.9167 g of gold.
A worked example
Example: if pure gold is $150 per gram, 22K is worth about $137.50 per gram of pure-metal value (150 × 0.9167). A 10 g bangle therefore carries about $1,375 of pure-metal value (10 × 0.9167 × 150). The market price changes daily, so check it on the day you sell.
That is the melt value: what the gold content is worth on the market. It is not the offer. Every buyer, including us, pays a percentage of melt value. The gap covers refining, assay, the risk that the market moves before the gold is refined, and the buyer's margin.
Why 22K jewellery and 24K coins are treated differently
- Coins and bars such as Canadian Maple Leafs (99.99%) have a known weight and purity, so they need little testing and can be resold as bullion. They earn the highest percentage of melt value.
- 22K jewellery is usually refined rather than resold, so it earns a little less than bullion but more than lower karats, because there is more gold per gram to recover.
- Stones, clasps and solder are not gold. We weigh the metal only, or deduct for stones, and tell you which we are doing.
Three things that change your number
- The day's price. Gold moves every day. If you are not in a hurry, a glance at the trend before you sell can be worth a few percent.
- Accurate weight. A kitchen scale is close enough for an estimate. We weigh on a calibrated scale in front of you for the actual offer.
- Actual purity. Stamps are usually right, but not always. We test every piece, and a 22K stamp that tests at 21K will be priced as 21K.
Estimate before you visit
Look up today's gold price per gram, multiply by your weight and purity to see the pure-metal value, then bring it in. How we price your gold explains the rest. There is no obligation and no appointment.