If you’re digging through a jewelry box and find an old 14k gold necklace, your first instinct is probably to look up the price of gold on Google. You see a number like $4,618. That’s the spot price for an ounce of gold right now in January 2026. But here’s the kicker: your 14k gold is not worth $4,618 an ounce. Not even close.
Honestly, it’s a mistake almost everyone makes. They see the "spot price" and think they’re sitting on a gold mine. In reality, that big number refers to 24k gold—pure, 99.9% investment-grade bullion. Your 14k jewelry is a beautiful, durable mix of gold and other metals like copper or silver. It's basically a "diluted" version of the pure stuff, and the price reflects that.
The Math: How Much is 14k Gold Actually Worth?
To find the worth of 14k gold per ounce, you have to do a little bit of grade-school math. 14k gold is 58.3% pure gold. The other 41.7% is alloy.
So, if the current spot price is $4,618 per ounce, you multiply that by 0.583.
$4,618 \times 0.583 = $2,692.29$
That’s your "melt value." It is the raw value of the gold inside that ounce of 14k metal. But don't expect a buyer to hand you a check for that exact amount. They’ve got bills to pay, too.
Why You Won’t Get the Full Price
Gold buyers—whether it’s the guy at the local pawn shop or a high-end refinery—are in business to make a profit. They have to melt the gold down, refine it back to 24k purity, and cover their overhead. Most reputable buyers are going to pay you somewhere between 70% and 90% of that $2,692 figure.
If you walk into a pawn shop, they might offer you 50%. That’s just how it goes. They’re providing instant cash for a risky commodity. On the other hand, online refineries like The Alloy Market or specialized buyers might get you closer to 90% because they deal in higher volumes.
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Watch Out for the "Troy" Ounce
Here is a weird detail that trips people up: the "troy ounce."
A standard ounce (the kind you use for flour) is 28.35 grams. A troy ounce, which is what the gold market uses, is 31.1 grams. If you’re weighing your jewelry on a kitchen scale, you’re probably using standard ounces. You’ve got to convert that. If your scale says you have one ounce of jewelry, you actually have about 0.91 troy ounces.
It feels like a scam, but it’s just 500-year-old tradition.
Market Trends: Why Prices are Sky-High in 2026
We are living through a massive gold bull market. Since late 2025, gold has been on a tear. Central banks in places like China and India have been buying up gold like crazy to diversify away from the dollar. Plus, with inflation still feeling a bit sticky and geopolitical tensions acting up, everyone wants a "safe haven."
J.P. Morgan recently suggested that we could see gold hit $5,000 an ounce by the end of the year. If that happens, the worth of 14k gold per ounce (melt value) would climb to nearly $2,915.
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That’s a huge jump from just two years ago.
Is Your Gold Worth More Than Its Weight?
Before you rush to melt everything down, look at the piece. Is it a vintage Tiffany & Co. bracelet? Is it a Cartier Love ring?
If the jewelry has a "designer" name or significant historical value, the worth of 14k gold per ounce is irrelevant. You should be looking at resale value, not melt value. A designer piece can sell for 2x or 3x the price of the raw gold inside it.
On the flip side, if it’s a broken chain or a single earring with a lost mate, scrap value is your best friend.
How to Get the Most Cash
- Know Your Weight: Buy a cheap digital scale that measures in grams. It’s more precise than ounces.
- Check the Stamps: Look for "14k" or "585" (which is the European decimal version of 14k). If it says "GF" or "HGE," it’s gold-filled or electroplated. That means it’s basically worthless to a gold buyer.
- Shop Around: Never take the first offer. Get a quote from a local jeweler, a pawn shop, and an online buyer.
- Follow the Spot Price: Use a site like Kitco to watch the live market. If the market drops $100 in a day, wait for a rebound.
Actionable Next Steps
Start by gathering all your yellow gold and sorting it by karat. Use a magnifying glass to find those tiny stamps on the clasps. Once you have your 14k pile, weigh it in grams. Take that total weight, divide it by 31.1 to get troy ounces, and multiply by $2,692 (based on current rates). This gives you your "ceiling" price. When you go to sell, aim for an offer that is at least 80% of that number. Anything less and you're leaving real money on the table.