You have a box of old jewelry, a handful of coins, maybe a gold chain you haven’t worn in years. You know it’s worth something — but how much? The answer depends on a few straightforward factors that anyone can understand, and knowing them will help you sell your gold with confidence anywhere in Canada.
The Four Factors That Determine Your Gold’s Value
Every gold buyer in Canada uses the same three inputs to price your gold:
- The live gold spot price in CAD — The international price of pure gold, converted to Canadian dollars per gram. This changes every second during market hours. You can check it at Kitco.com anytime.
- The karat (purity) of your gold — How much of your item is actually gold, expressed as a fraction of 24. 18K = 18/24 = 75% gold.
- The weight in grams — How heavy the item is. Heavier = more gold content = higher value.
- Markup – How much to process the company charges for the transaction.
The formula is: Value = Spot Price per gram × Purity % × Weight in grams x Markup.
Example: A 10-gram 18K gold bracelet = Spot Price × 0.75 (purity) × 10 (grams) x Markup = your offer.
Live Gold Spot Price — What Is It and Why Does It Matter?
The spot price is the global market price of gold at any given moment. It’s set by international commodity exchanges and reflects the world’s collective buying and selling activity for gold. It changes throughout every trading day.
You can check the live spot price any time at Kitco.com or by Googling “gold price today CAD.” Knowing the spot price before you visit a buyer gives you a useful reference point — but the best way to know exactly what your specific items are worth is to bring them in for a free appraisal.
Understanding Gold Karats — The Purity System Explained
The karat of your gold determines what percentage of it is actually gold. Here’s how the karat system works:
- 24K — 99.9% pure gold. Used for bullion bars and coins. The highest-value gold per gram.
- 22K — 91.7% pure. Used for bullion coins like the Canadian Maple Leaf.
- 18K — 75% pure. Common in fine jewelry and European pieces.
- 14K — 58.3% pure. The most common karat in North American jewelry.
- 10K — 41.7% pure. The most affordable gold jewelry; still worth buying.
- 9K — 37.5% pure. Common in UK and European jewelry.
How to Identify the Karat of Your Gold
Look for a small stamp or hallmark on your gold item. Common markings include:
- 10K, 14K, 18K, 22K, 24K — Common in North America
- 375 = 9K | 417 = 10K | 585 = 14K | 750 = 18K | 916 = 22K | 999 = 24K
- European pieces often use the numeric system — for example, 750 instead of 18K
If you can’t find a stamp, or you’re not sure, a reputable buyer will test your gold using acid or electronic testing equipment — always in front of you.
What About Silver? Is It Worth Selling in Canada?
Silver is absolutely worth selling, and with silver prices near multi-year highs, many people are surprised by the value sitting in their silverware drawer.
- Sterling silver = 92.5% pure silver (marked “925” or “Sterling”)
- A 12-piece sterling silver flatware set can weigh 400–600 grams — potentially worth a significant amount depending on the current silver spot price
- Silver Canadian Maple Leaf coins (1 troy oz each) carry full bullion value based on the live silver price
Should You Sell Your Gold Now?
Gold prices are currently near historic highs. While no one can predict future prices with certainty, current conditions are favourable for sellers. Global economic uncertainty has pushed investors into gold, central bank buying has added demand, and the CAD/USD exchange rate amplifies the gold price for Canadian sellers.
If you’ve been holding onto unwanted gold jewelry or inherited pieces, current market conditions represent compelling value for sellers. Whether prices continue rising, stay flat, or correct — today’s prices are excellent by any historical measure.
Get a Free Appraisal at East Coast Buy and Sell
East Coast Buy and Sell offers free, no-obligation gold and silver appraisals at two locations in Canada — Sault Ste. Marie, Ontario and Halifax, Nova Scotia. Walk in any time during business hours. We test everything in front of you, explain the calculation, make an offer, and pay you in cash on the spot if you accept. No appointment, no pressure, no obligation.
Frequently Asked Questions
How much is 14K gold worth per gram in Canada?
14K gold is 58.3% pure gold, so its value per gram is 58.3% of the current 24K spot price. The exact dollar amount changes daily. Visit East Coast Buy and Sell in Sault Ste. Marie or Halifax for a free, precise quote — no obligation to sell.
How much is 18K gold worth per gram in Canada?
18K gold is 75% pure gold, so its per-gram value is 75% of the current 24K gold spot price. Since spot prices change daily, bring your items to East Coast Buy and Sell for a free, up-to-the-minute appraisal.
Where can I get my gold appraised for free in Canada?
East Coast Buy and Sell offers free, no-obligation gold appraisals in Sault Ste. Marie, Ontario and Halifax, Nova Scotia. Walk in any time during business hours — Monday to Friday 10am–6pm, Saturday 10am–4pm.
What is the current gold price in CAD per gram?
Gold prices change every trading day. Check Kitco.com for the live spot price, or call East Coast Buy and Sell at our Sault Ste. Marie or Halifax location for today’s buying rate.
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