Spelling
Britain writes “carat”, abbreviated ct. Karat with a K is the American spelling for the same measure.
Gold spot price
$4,392.72 per troy ounce
$141.23 per gram of pure gold · $105.92 per gram of 18K
Figures show melt value — the market value of the recoverable gold content. They are not an offer, an appraisal, or investment advice. Buyers pay a percentage of melt that varies by business model.
United Kingdom · GBP · grams
UK Gold Price and Scrap Value Guide
Value British gold in pounds per gram, using carat rather than karat, with 9ct as the practical floor and compulsory hallmarking as your best evidence of purity.
Input
Weight & purity
Max input: 999,999 per item.
Pure gold
0.0000 oz
Price / oz
£3,294.54
Price / gram
£105.92
Formula: weight in troy ounces × karat purity × gold price per ounce. Dealer offers may be lower than this market-value estimate.
Live market estimate
Spot-based UK estimate in GBP per gram
9ct · 375 fine · the British floor for gold
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This is an international spot-based melt estimate, not an official local jewelry retail or buyback rate.
Calculated from XAU/USD spot and the selected currency exchange rate.
Open with these settingsThe floor
9ct (375) is the lowest fineness sold as gold in the UK. It is not legally saleable as gold in the United States, where 10K is the minimum.
Hallmarking
Compulsory on gold articles over 1 gram, under the Hallmarking Act 1973.
How to calculate UK gold value
- 1Read the hallmark: UK pieces carry millesimal fineness, so 375 is 9ct, 585 is 14ct, 750 is 18ct and 916 is 22ct.
- 2Weigh in grams, which is how every British buyer quotes.
- 3Select GBP so the troy ounce spot price is converted before the per-gram calculation.
- 4Compare the melt figure against the offer. Melt is the ceiling, not the payment.
To put this into practice, use Gold Price Per Gram, check the assumptions with Scrap Gold Calculator, and compare the result in 9K Gold Price & Calculator.
Why 9ct dominates British jewellery
9ct gold is 375 parts per thousand, or 37.5% gold, and it is the mainstay of the UK high street in a way it simply is not in the United States. Because 9ct is only just over a third gold, its melt value per gram is roughly 40% of a 24ct gram, which surprises people selling inherited pieces.
The practical consequence is that a heavy 9ct chain can be worth less than a light 18ct one. Always calculate fine gold weight - grams multiplied by the fineness - rather than comparing gross weights.
Reading a British hallmark
A full UK hallmark is a record, not just a purity mark. It carries the sponsor or maker mark, the millesimal fineness in a shaped shield, the assay office town mark, and often a date letter that identifies the exact year of assay.
Four assay offices remain: London (leopard head), Birmingham (anchor), Sheffield (rose) and Edinburgh (castle). Because the system is compulsory and centrally recorded, British pieces are among the easiest in the world to date and attribute, which occasionally matters far more than the metal value.
VAT, and why investment gold is different
Investment gold - bullion bars and coins meeting the statutory fineness and form tests - is exempt from VAT in the UK. That is why a sovereign or a Britannia is quoted close to its metal value rather than with tax on top.
Jewellery is not investment gold, so VAT applies when you buy it new. It does not apply to you when you sell scrap to a dealer as a private individual: you are selling an asset, not making a taxable supply. Treat any offer that mentions deducting VAT from your scrap payment with suspicion.
What British buyers pay
The same spread applies as anywhere: specialist refiners and mail-in buyers sit at the top, high-street jewellers in the middle, and pawnbrokers lowest. Ask for the offer in pounds for your specific weight, the spot price used, and the fineness assigned to each group.
Because 9ct is so common in the UK, sorting matters more than usual. A mixed British lot weighed as one pile will often be priced near 375, and a 750 piece hidden in it is then worth exactly half what it should be.
Primary sources and further reading
- The Assay Office — UK hallmarking requirements — Primary source for compulsory hallmarking and the four UK assay office marks.
- Hallmarking Act 1973 — The statute governing which articles must be hallmarked in the UK.
- HMRC — VAT on investment gold (Notice 701/21) — Primary source for the UK investment gold VAT exemption.
Common questions
What is 9ct gold worth per gram?
9ct is 375 fine, so a gram contains 0.375 grams of pure gold. Multiply the pure-gram price by 0.375. At a spot price of £3,200 per troy ounce that is roughly £38.60 per gram of 9ct before any buyer deduction.
Is carat the same as karat?
Yes, for gold purity. Britain writes carat and abbreviates it ct; the United States writes karat and abbreviates it K. Confusingly, carat also measures gemstone weight, which is unrelated - a 1 carat diamond in an 18ct ring uses the word twice with two different meanings.
Does my gold have to be hallmarked?
Gold articles over 1 gram sold in the UK must be hallmarked under the Hallmarking Act 1973. Older, lighter or imported pieces may lack one, which does not make them fake - it just means you should test rather than assume.
Do I pay VAT when I sell scrap gold?
Not as a private individual selling your own property. VAT applies to buying new jewellery. Investment gold - qualifying bullion bars and coins - is VAT exempt in both directions.
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