Most people have a rough idea that their old gold is "worth something," and stop there. A tangled chain from a decade ago, a ring that stopped fitting, single earrings with no match, they sit in a drawer because nobody's put an actual number on them. With gold trading at roughly $6,120 CAD per ounce as of mid-September 2026, up sharply over the past couple of years, figuring out the real gold value for Fraser Valley sellers is worth ten minutes of reading before you decide whether that drawer is worth a trip anywhere.
How Gold Valuation Actually Works
Three numbers decide what your gold is worth: karat, weight, and the current spot price. That's it, there's no secret formula and no reason a jeweller can't explain exactly how they landed on a number. At Lanka Jewels, an in-house gemologist tests purity and weighs each piece in front of you, typically within 48 hours, so the offer you get is based on an actual assessment of your actual jewellery, not a rough guess or a flat rate for "scrap gold" regardless of what you bring in.
Karat, Explained Properly
Karat measures purity, how much of a piece is actually gold versus other metals alloyed in for strength, and it's the single biggest lever on value per gram. Here's what the numbers actually mean, not just the percentages:
24K is 99.9% pure gold. It's soft, almost buttery, which is exactly why you rarely see it in rings or bracelets meant for daily wear, it dents too easily. 22K, 91.6% gold, shows up in some traditional and South Asian jewellery styles where richness of colour matters more than everyday durability. 18K, 75% gold, is the middle ground: noticeably richer in colour than 14K, still holds up reasonably well day to day. 14K, 58.3% gold, is what most North American jewellery is actually made from, durable enough for a ring you never take off. 10K, 41.7% gold, is the toughest of the five and the least valuable by weight, common in class rings and pieces built to survive rough handling.
Higher karat means more gold content, which means more value per gram, but also a softer metal. None of that changes what your specific pieces are worth, it just explains why two rings that look similar can be priced completely differently.
Today's Gold Value by Karat
(Note: pull this table from a live gold price feed rather than hardcoding it. Figures below are calculated from Kitco's CAD spot price and will be out of date within days.)
|
Karat |
Purity |
Per Gram (CAD) |
Per Troy Oz (CAD) |
|
24K |
99.9% |
$196.81 |
$6,121 |
|
22K |
91.6% |
$180.28 |
$5,608 |
|
18K |
75.0% |
$147.61 |
$4,591 |
|
14K |
58.3% |
$114.72 |
$3,569 |
|
10K |
41.7% |
$82.07 |
$2,553 |
These are indicative melt values only, based purely on weight and purity. Your actual offer factors in the specific piece and is always confirmed in person against that day's live price, not the numbers in this table.
What Actually Affects the Price You're Offered
Weight and karat carry most of the calculation, but a few other things matter. Diamonds and other stones above a certain size aren't melted down with the gold, they're assessed on their own, often through a program like Diamond Plus, since a real stone is frequently worth more evaluated separately than lumped into a gold price. Condition matters less than most people assume, a snapped clasp or a missing side stone doesn't change what the gold itself is worth, though a piece generally needs to be in reasonable overall shape to qualify for buyback. And because gold price moves daily, sometimes by a meaningful amount, the same ring can be worth a noticeably different number two weeks apart. If you've been sitting on a decision, that's one more reason not to sit on it indefinitely.
Why a Local Jeweller Beats a Mail-In Gold Service
Mail-in gold services ask you to do something a little strange when you think about it: package up jewellery, often with real sentimental or family history attached, send it to a stranger, and wait for a cheque based on an evaluation you never see happen. If the number feels low, there's no one to ask why. If a piece gets lost in transit, good luck proving what it was worth.
Selling locally flips all of that. Your gold is weighed and tested in front of you, at a business with a physical address and a history in this exact community, not a P.O. box. You can ask exactly how the number was reached, push back if something doesn't add up, and walk out with the piece still in your hand if you decide not to sell. For jewellery you've owned for years, sometimes decades, that difference is worth more than whatever a stamp would have saved you.
Find Out What Your Gold Is Actually Worth
The only way to know for certain is to have your specific pieces weighed and assessed in person. Book a free valuation through our Sell Your Gold in Abbotsford page, or bring your gold into our Mission showroom, serving Abbotsford, Chilliwack and the wider Fraser Valley. No obligation, no pressure to accept.
Contact us to Book Your Free Gold Valuation
Gold Value FAQs
How much is my gold jewellery actually worth?
It depends on weight, karat, and the current gold price, plus separate value for any diamonds or gemstones. There's no way to give an accurate number without seeing the piece. Book a free valuation to get an exact figure rather than an estimate.
Does the condition of my gold jewellery affect its value?
Barely. A broken clasp or a missing stone doesn't reduce the gold's melt value, since that's calculated from weight and purity, not appearance. Items generally just need to be in reasonable overall condition to qualify for buyback in the first place.
What karat is most common for gold jewellery in Canada?
14K, by a wide margin. It balances a meaningful gold content with enough durability to survive being worn every single day, which is why it dominates North American jewellery.
Is it better to sell gold locally or through a mail-in service?
Locally, in almost every case. You see the weighing and testing happen, you can ask questions in real time, and you can walk away with the piece still in hand if the offer doesn't sit right, none of which a mail-in service allows for.
What if my gold piece has a diamond in it?
The diamond is assessed separately from the gold. Larger stones often go through our Diamond Plus Program instead, since they're frequently worth more evaluated on their own than folded into a straight gold sale.
Lanka Jewels has served Mission, Abbotsford, Chilliwack and the wider Fraser Valley for over 45 years. Book a free valuation when you're ready, or read about the alternative to selling in How to Turn Your Old Jewellery into a New Custom Piece.
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