If you’ve ever brought jewellery in to sell, you’ve probably wondered: is this just scrap gold, or is it worth more?
At Canada Gold, this is one of the most common questions we hear, and it’s an important one. Not all gold jewellery is valued the same way, and understanding the difference between Premium and Premium Plus pieces can make a meaningful difference in your offer.
This guide will walk you through how we look at jewellery when it comes across the counter, and what factors can move a piece from basic melt value into something more.
What Is Scrap Gold?
Scrap gold is exactly what it sounds like: jewellery that’s valued primarily for its metal content.
This includes:
- Plain gold items with no gemstones
- Broken chains or bracelets
- Single earrings
- Outdated or heavily worn pieces
In these cases, the value is based on three things:
- Weight
- Karat (purity)
- Current market price (spot price)
These pieces are typically melted down and recycled, so the design or original retail price doesn’t factor into the offer.
What Makes Jewellery “Premium”?
Some jewellery carries value beyond just the gold weight.
In general, a piece may be considered Premium when it includes natural diamonds or higher-quality craftsmanship that can be resold rather than melted.
Examples include:
- Natural diamond rings with a noticeable centre stone
- Tennis bracelets or necklaces
- Earrings or pendants with multiple natural diamonds
- Well-made, modern or timeless designs
That said, not every natural diamond piece automatically qualifies. Very small accent stones (for example, a few tiny diamonds under ~0.10ct total weight) often don’t add significant standalone value. In those cases, the item may still be evaluated closer to Premium.
The key difference is this:
Premium pieces are assessed as jewellery, not just as raw material.
When a Piece Goes Beyond Premium into Premium Plus
There’s another category most people don’t realize exists.
Some items carry additional value because of brand, craftsmanship, and verified authenticity. These are pieces from well-known luxury houses, often supported by original documentation or strong identifying features.
Examples of Premium Plus include jewellery from:
- Tiffany & Co.
- Cartier
- Van Cleef & Arpels
- Graff
- Harry Winston
- David Webb
- Buccellati
As well as certain high-end watches.
For these items, value isn’t just about gold or natural diamonds, it can also reflect brand recognition and resale demand. When everything checks out, offers may be stronger than standard jewellery pricing.
Authentication matters here. With counterfeit items becoming more common, experienced testing and verification are essential before assigning any additional value.
Why This Difference Matters
Two pieces with the same gold weight can have very different values depending on how they’re categorized.
A plain 14K chain and a natural diamond ring of the same weight won’t be treated the same way, and neither will a designer piece with proper documentation.
This is why a proper evaluation matters. At Canada Gold, everything is tested and assessed in front of you, so you can see exactly how we arrive at an offer and ask questions along the way.
What You Can Bring to Help Maximize Value
If you think your jewellery might fall into a higher category, it helps to bring:
- Original boxes or packaging
- Certificates or appraisals
- Purchase receipts (if available)
Even if you don’t have these, it’s still worth bringing the item in. Many pieces can be assessed on the spot.
Still Wondering What You Have?
Selling jewellery shouldn’t feel confusing or uncertain. Once you understand the difference between Scrap, Premium and Premium Plus pieces, the process becomes much clearer, and you’re in a better position to decide what’s right for you.
If you’re unsure where your items fall, the best next step is simple: bring them in and have them looked at. There’s no pressure to sell. We provide free, no-obligation testing and will present you with a clear understanding of what you have along with a competitive offer.
Curious what your jewellery is worth? Visit your nearest Canada Gold location or check current gold prices online before you come in.