What 24K gold actually is
Karat is a ratio out of twenty-four, so 24K is twenty-four parts in twenty-four: pure gold. In practice it means 99.9% or better, stamped 999 or 9999 in fineness terms.
Pure gold is soft enough to dent with a fingernail, so it is rarely used for everyday rings. It is the form of gold that bars and many bullion coins come in, which is why the spot price is quoted for 24K. At this purity the melt value equals the spot price multiplied by the weight in troy ounces, with no purity reduction. For coin and bar premiums, see gold coin value.
What 24K is worth right now
At the spot price this page loaded with, $4,072.10 per troy ounce, 24K works out to:
| Weight | Melt value | Roughly |
|---|---|---|
| 1 gram | $130.92 | A tiny gold bar or a small pendant |
| 5 grams | $654.61 | A small bar or coin |
| 10 grams | $1,309.21 | A 10 gram bar |
| 1 pennyweight | $203.61 | The unit a pawn shop will quote |
| 1 troy ounce | $4,072.10 | One troy ounce bar or coin |
These are melt figures: the metal only, at 100% of spot, before any buyer’s margin and before deducting stones.
24K against the other karats
| Karat | Gold content | Value vs 24K | Where you see it |
|---|---|---|---|
| 10K | 41.67% | −58.3% | Class rings, budget chains |
| 14K | 58.33% | −41.7% | Most US jewelry |
| 18K | 75.00% | −25.0% | Fine jewelry, watch cases |
| 22K | 91.67% | −8.3% | Gold Eagles, South Asian jewelry |
| 24K | 99.9% | — | Bars and investment coins |
A piece stamped 24K, 999 or 9999 is the same product at slightly different fineness. For 999.9 bars, enter 99.99 as a custom purity on the main calculator.
Where you will find 24K gold
- Bars and ingots. From one gram to one kilogram, usually stamped 999.9 with a refiner’s mark.
- Investment coins. The American Buffalo and the Canadian Maple Leaf are 24K coins.
- Traditional jewelry. Some Chinese and other Asian jewelry is sold as 24K.
- Dental and industrial gold. Often lower purity, so check before assuming 24K.
Plated and filled pieces to rule out
These marks can sit next to a karat number and mean the piece is not solid gold. They are worth close to nothing as scrap:
- 24K GP — gold plated. A microscopically thin layer.
- 24K GF or 1/20 24K GF — gold filled. A bonded layer, typically 5% of total weight, and rarely worth refining in small quantities.
- 24K HGE or RGP — heavy gold electroplate and rolled gold plate. Still plating.
- 925 with a gold colour — vermeil: gold-plated sterling silver. The silver has value; the gold layer does not.
Solid 24K is stamped 24K, 999 or 9999, with nothing else appended. Not sure? Read how to tell if gold is real.
Before you sell 24K
- Weigh it yourself first, on a scale that reads to 0.01 g, and note the number.
- Separate 24K from other karats. A mixed pile gets priced at the lowest karat in it.
- When you sell a bar or coin back, a dealer pays the bid price, which is below spot, so budget for a round-trip spread. Bars with their original assay card usually sell more easily.
- Ask for the quote as a rate per gram or per pennyweight at 24K, not as a lump sum, so you can check it against the melt figure above.
- Get three quotes. The spread between a pawn shop and a refiner on the same piece is routinely double. The full process is in how to sell scrap gold.
24K gold questions
How much is 24K gold worth per gram?
24K is the full spot rate: divide the spot price per troy ounce by 31.1035 to get the per-gram value. The headline rates at the top of this page show today's figure before any dealer margin.
What is the difference between 999 and 9999 gold?
999 is 99.9% pure and 9999 is 99.99% pure. For melt value the difference is a tenth of a percent, which is tiny, but investors sometimes prefer the higher purity bars.
Can I wear 24K gold?
You can, but it is very soft and scratches and bends easily. Most jewelry uses 14K or 18K for strength.
Why do coins and bars cost more than the 24K melt value?
Buyers pay a premium over spot for minting, distribution and dealer margin. When you sell back you receive the bid price, which is lower. See the gold coin value page for typical premiums.
Is 24K the same as the spot price?
The spot price is for pure 24K gold, so a 24K piece's melt value is spot times its weight in troy ounces. Lower karats are scaled down by their purity.