How much is a gold necklace worth?

Step 1: find the stamp

Look at the clasp and the small tag next to it. Common marks are 10K or 417, 14K or 585, 18K or 750, and 22K or 916. A mark followed by GF, GP or RGP means gold-filled or plated, which is worth only a small fraction of a solid chain. See gold hallmarks explained.

Step 2: weigh only the gold

Weigh the chain in grams. Take off pendants with stones if you can, and remember that many clasps have a small steel spring inside. A kitchen scale that shows 0.1 g is fine for a rough idea.

Hollow chains weigh less than they look

Some chains are hollow inside. The FTC Jewelry Guides say products with a hollow center should disclose it and should not be called “solid” (16 CFR 23.3). A hollow chain can look as thick as a solid one but contain much less gold, so the weight matters more than the look.

Step 3: compare offers

One refinery that publishes its terms, Northern Refineries in the US, says it pays 96% of the fine gold it recovers from karat gold for lots of 3 troy ounces or more, and 94% for smaller lots, based on the market price on the day the order is completed (Northern Refineries settlement terms, checked October 19, 2026). That is a refinery price for people who ship scrap to them. Jewelry stores, pawnshops, cash-for-gold shops and mail-in buyers set their own prices, which are not published in the same way, and they can be much lower. The only way to know is to ask several buyers for a written price per gram for your karat.

Necklaces by known designers, antique chains and pieces with good stones can be worth more than their gold. Get those valued before selling them for scrap.