All around the world, gold is the go-to metal for wedding bands and for good reason. They are a valuable metal, they can be easily crafted into stunning designs, and come in a number of shades that offer options for both the bride and the groom to pick a style they like.
When buying retail, you can expect to pay more than the actual value of the gold. But how much more? And how much can you sell it for if you need to?
This is an update on our previous post on how much you can sell your gold wedding ring for.
The Different Karats Of Gold
Before we jump into specifics about the value of gold wedding bands, the first thing to know is that gold in its purest form is too soft a metal to craft any long-lasting jewelry out of. So, despite being highly valuable, you’ll almost never find pure gold rings or any other kind of pure gold jewelry. Gold is combined with other metals to strengthen its structure and make it a viable choice for jewelry.
This is especially true for gold wedding bands, since they are typically worn daily (or all the time). This means that most wedding bands you’ll find will fall into one of the following categories:
9 Karats
With only 37.5% gold in them, any 9k jewelry isn’t sold as “gold” jewelry, as there is a requirement of at least 10k for any jewelry to be considered “gold”. While it has very little pure gold in it’s makeup, it is the strongest for this very reason, as it has quite a high percentage of other alloys.
14 Karats
14K jewelry has 58% gold in their make up. Passing the 10K requirement for “gold” jewelry and having enough other metals in it to make it reliable, 14k jewelry is one of the top choices for wedding rings. It does not scratch as easily as an 18k ring, making it an attractive option for people with active jobs. 14k gold also lends itself to complex ring designs, rings featuring a high number of tiny inlaid diamonds, or rings with larger stones, because of the strength of its composition.
18 Karats
At 75% pure gold, 18k jewelry is another common choice for wedding bands, and a more ‘valuable’ choice at that. Whereas 14k gold is stronger, 18k gold boasts a richer, more intense color. Though it can be shaped into a variety of designs, 18k gold is most often used for simple wedding bands. 18k gold is also heavier than the 14k rings, and as such, people who want a more weighty ring pick 18k gold rings.
22 Karats
While 24k gold is not a good choice for jewelry, 22k gold (with 91.67% gold) can be used to make gold wedding bands, as long as it does not have any complex details. It isn’t strong enough to hold gemstones, either, and is used mainly for plain gold jewelry.
Despite the fact that gold wedding bands can be made out of different karats of gold, most often they are made of either 14k gold or 18k gold. Which is important to keep in mind as we discuss the worth of gold wedding bands.
For more information on gold purities, including how to test your gold, read our article with 11 different tests for gold purity.
Weighing Your Gold
The weight of a wedding ring can vary depending on the type of metal, the style of the ring, and the size of the ring. Typically, the weight of a gold wedding ring can range from around 2 to 10 grams, while a platinum wedding ring can weigh anywhere from 5 to 20 grams.
As you may guess, men’s rings tend to be a little bit heavier than women’s wedding bands.
Getting an accurate measurement on the weight of the wedding ring is very important in determining its value. You’ll want to scale that goes out several decimal places on gram weight, so you’ll either need a high-quality home scale (higher quality than most people have), or you could take it to a jeweler to have it weighed.
The Different Colors Of Gold
Both 14k and 18k gold wedding bands can also come in a variety of colors. Gold is usually available in the following ‘shades’:
Yellow
Yellow gold is made of pure gold mixed with alloy metals such as copper, zinc, and sometimes silver. Whether 14k or 18k, this color is what comes to mind when we usually think of gold.
White
White gold is made by mixing pure gold and white metals such as nickel, silver and palladium, and it is usually coated with rhodium to allow for a more brilliant and polished white shine. The plating also makes the gold more resistant to scratches.
Rose
Rose gold is the result of mixing pure gold with copper (and sometimes silver). The more copper there is, the more ‘rose’ it will be. This will mean that 14k rose gold wedding bands will have a more ‘rose’ hue than 18k rose gold wedding bands.
Black
While ‘black gold’ can be achieved by electroplating or laser treating gold, it can also be created by mixing gold with metals like cobalt at a 3:1 ratio. Recently popular for its unique look, black gold is a less common, but still viable choice for gold wedding bands.
While there are many shades of gold, the good news is that more often than not, the shade of gold will not have a major impact on the value of the gold wedding band — except in cases where a valuable metal is used in the composition of the gold. As long as the amount of gold remains the same, the price will be based mostly on the karats.
The Value Of Gold Wedding Bands
Having all of this information, we can jump into the question of just how much gold wedding bands are worth. Luckily, it’s simple: as long as we’re just considering the gold wedding band and not it’s make or brand, gold wedding bands are worth just as much as the amount of (pure) gold it carries.
Pure Gold Content = Purity x Weight
Then the value of that gold is the pure gold content times the current market rate of gold
So, if you have a 14k gold wedding band that weighs 4 grams, the math would look like this:
Pure Gold Content = (14/24) karats x 4.000 grams
Pure Gold Content = 2.333 grams of pure gold = 0.082306 ounces
Since the price of gold is currently $2,013/ounce (April 18, 2023), that would make the value of your ring $167.
This means that:
14k gold wedding bands (2-10 grams) are worth between $83 and $414.
18k gold wedding bands (2-10 grams) are worth between $106 and $533.
The price is obviously subject to change depending on the fluctuating price of gold, but this method is an easy way to determine how much you should pay for your gold wedding band or conversely, how much you should sell your gold wedding band for.
Selling Gold Wedding Bands
While purchasing gold wedding bands is quite easy and straightforward, selling them is not. Whatever the reason you are selling them for, you often don’t have a lot of attractive options in terms where you can sell them. We’ve talked to customers that had pawn shops offer them less than 20% of the value of their gold before, so make sure you know what it’s worth before you walk in!
If you are selling them to a trusted, reputable buyer, you’ll find that you can make a lot more for your gold jewelry. At Express Gold Cash, we offer you up to 90% of the value of gold bullion and up to 85% of the refined value of gold jewelry. Other gold exchanges may pay significantly less. We’re always open and upfront about what we pay so you can estimate the payout you’ll receive for your gold before even sending us the gold.
We’re able to operate on lower margins because we don’t have the overhead of local shops, and we’re able to source from all over the country. That said, in some big cities there are reputable local gold buyers who do enough volume to give you a good price as well. Just make sure you do your calculations and understand the actual value of gold before walking into a shop so you can negotiate effectively.
If you choose to sell to us, you’ll see how we’ve made our process extremely simple for your convenience. In fact, you can even sell your gold without leaving your home. We’ll mail an insured package, schedule a FedEx pickup, and handle both offers and payments online. The whole process can even take less than 24 hours!
By selling your gold wedding bands now and taking advantage of the current high gold prices, you can make a fair amount of money quite easily. Whatever prompts you to sell your gold wedding band, having cash in hand is better than a gold ring that you don’t want or need. And if you are looking to upgrade to a better ring, even better, because you’ll already have a good amount of the money you need towards it!
Request a kit and get started now!
