Selling or exchanging old gold: what you actually get back, from a 9K ring to a 22K bangle
Every piece of gold jewellery has two prices: what you paid, and what the gold in it is worth. The second one is what any jeweller's counter can give you. It is lower than the first by exactly the things that were never gold: the making charge, the stone, the design, the GST. Below, a real listing shows that gap in its own numbers, and then we walk through what happens when you bring old gold to us.
Comes back
The gold, at today's rate for its purity.
Never comes back
Making charge, design, GST, brand premium.
How much is gold
22K: 91.6%. 14K: 58.5%. 9K: 37.5%.
A real listing, and what its own bill admits
This is the price breakup of a 9 karat ring listed online on 13 September 2026, exactly as the seller published it. We have not named the brand and we have not changed a digit. The ring costs ₹50,622. The gold in it, 0.66 grams of 9 karat, is ₹3,899 of that. The rest is sapphires, making and tax.
Drag the slider. Every line except the gold shrinks away, because a counter can only pay for metal it can melt and sell on.
₹50,622 paid. What a gold counter can give back for this ring.
Figure at this point of the slider
₹50,622
Gold in the piece
₹3,899
Share of the price
8%
- Gold, 0.66 g at 9KT₹3,899comes back
- Sapphires₹40,500does not
- Making charges₹4,749does not
- GST 3%₹1,474does not
Figures from the listing above. Small coloured stones carry little or no resale value; a stone with a real market is assessed separately. The gold line moves with the day's rate; its share of the price does not.
None of this makes the ring a bad buy. It is a design purchase, and a fair one if that is what you wanted. The trouble starts when a piece like this is bought as savings, or gifted as one.
Why 9K and 14K are everywhere now, and what that means later
With gold at record prices, the trade has moved to lighter pieces with less gold in them, so that a ring or a chain still fits a budget. Since July 2025 a 9 karat piece can carry a BIS hallmark like any other. Nothing wrong with any of that, as long as you know what the number means. The karat is the share of the piece that is gold, and resale follows that share.
- Gold 91.6%
- Alloy 8.4%
- Gold 75%
- Alloy 25%
- Gold 58.5%
- Alloy 41.5%
- Gold 37.5%
- Alloy 62.5%
| One gram of jewellery | Pure gold in it | What a counter values |
|---|---|---|
| 22K | 0.916 g | 0.916 g at the 24K rate, less a small melting cut |
| 18K | 0.750 g | 0.750 g at the 24K rate, less a small melting cut |
| 14K | 0.585 g | 0.585 g at the 24K rate, less a small melting cut |
| 9K | 0.375 g | 0.375 g at the 24K rate, less a small melting cut |
A plain 22K bangle is the opposite case. Almost all of what you paid was gold and the making charge was a small slice, so almost all of it comes back. That is why families have always treated 22K as savings, and why the counter can pay well for it.
Send a photo of the piece and the stamp on it. We reply with a rough value for today and what to expect at the counter. No obligation.
Send a photo for a rough valueSell for cash, or exchange for new?
Selling
- The purity we read, times weight, times the day's rate, less a small cut.
- Paid the same day, by cash, transfer or cheque, with a government photo ID.
- Best when you need the money, or the piece will never be worn again.
Exchanging
- The same reading and the same rate; the value goes against the new piece.
- Old 22K into a lighter new design is the most common exchange at our counter this year.
- Ask which works out better for your piece; it depends on the purity and on what you are buying.
At the counter, in four steps
Step 1
Weigh
On the counter scale, in front of you. Stones and enamel are noted before the weight is taken.
Step 2
Test
The purity machine reads the gold in about a minute, with no cutting and no acid. You see the figure on the screen and get it on paper.
Step 3
Price
The purity it read, times the weight, times the day's rate, less a small cut for solder and melting. The making charge you once paid is not part of it, because it was never gold.
Step 4
Choose
Take the value against a new piece, or as payment the same day. Either way, no obligation once you have the number.
What comes off the value
- The weight of stones, enamel and wax, noted before weighing.
- Solder at the joints, which the purity reading already allows for.
- A small cut for melting and refining, listed on our old gold exchange page.
What does not change the value
- Where you bought it. Any jeweller's gold is gold.
- Whether you have the bill. It helps; the test decides.
- A KDM stamp or a missing hallmark. The reading decides.
Old gold, valued in front of you
Swarn Shikhar Jewellers, Shop No 6, Aashirwad Building, Narayan Gajanan Acharya Marg, Chembur, Mumbai 400071.
A free purity test, the reading on paper, and the day's rate, for over 40 years.
Frequently asked questions
If I sell my gold, how much will I get?
The gold in it, at the day's rate. The counter weighs the piece, checks the purity, and multiplies weight by purity by rate, less a small cut for solder and melting and less the weight of any stones. Everything you paid on top of the gold, the making charge, the design, the GST and any brand premium, does not come back. On a plain 22K piece that means most of the price comes back. On a 9K or 14K piece it means a fraction.
Does 9K or 14K gold have resale value?
Yes, for the gold in it. A 9K piece is 37.5% gold and a 14K piece is 58.5%, so the gold is worth that share of the weight at the day's 24K rate. On a light piece with stones the gold is often a small part of what you paid, as the listing on this page shows. Bring it in and we check it like any other gold.
Can I sell or exchange gold without a bill?
Yes. A bill helps, because it shows the purity and weight you were sold, but the test decides the value, not the paper. Bring a government photo ID. We need one for any gold we buy, with or without a bill.
Is it better to sell old gold or exchange it for new?
The reading and the rate are the same either way. Exchange puts the value against a new piece, selling pays it out. Which works out better depends on the purity of what you bring and what you plan to buy, so ask us with the piece on the counter rather than going by a rule of thumb.
Do you buy jewellery with stones or diamonds?
We value the gold and note the stones separately. Small coloured stones and cubic zirconia add nothing; we can return them to you after removal. Diamonds and gemstones with a real market are assessed on their own, so ask before you assume they are worth nothing or worth what the bill said.
What is the old gold exchange rate today?
It follows the day's gold rate for the purity we read, less a small cut, so it moves every day. Send a WhatsApp message with a photo and the stamp and we reply with today's figure and how we got to it.
Do you buy KDM or non-hallmarked gold?
Yes. A KDM stamp or a missing hallmark does not lower the value by itself. The purity we read does. Old KDM pieces sometimes read a little below 22 karat because of the solder at the joints, and that reading is what we price.