Gold Stater is a platform for following gold prices in Egypt that shows the buy price and the sell price clearly so you know your piece's real value. This guide explains the difference between new and used gold and how to compute a fair price.
What is the difference between "new" and "used"?
New gold is freshly fabricated pieces in the shop display with a guarantee stamp. Used gold is a piece previously worn and returned to the market, either through the dealer (as "scrap") or sold directly by the customer.
Workmanship: the biggest gap
When buying a new piece you pay: the value of the gold (weight times the karat gram price), the workmanship (fabrication cost, 30 to 300 EGP per gram depending on complexity), VAT on the workmanship, and sometimes hallmark and testing.
When selling your piece as "used" or "scrap," the dealer computes: the gold value at the buy price (1% to 3% below the sell price), then deducts the workmanship entirely, and may deduct a small percentage for assay reserve.
The result: if you bought a piece for 10,000 EGP (1,500 of it workmanship), you will sell it used for 8,000 to 8,500 EGP, even if the gold price did not move between buying and selling.
How do you value a used piece before buying it?
1. Know the weight (weighed in front of you on an electronic scale).
2. Know the karat (stamped on the piece or acid tested).
3. Multiply weight times the karat gram price from the price page.
4. Subtract a 3% to 5% dealer margin.
That is the reasonable price. Pay above it and you lose the moment you buy the piece.
What is "scrap"?
Scrap is used gold the dealer buys to re-melt and refabricate. The scrap price is below the price of resaleable used pieces because the dealer absorbs the melting and fabrication cost, usually a 2% to 4% difference from the official buy price.
When is used gold a good deal?
- A "lightly used" piece from a known dealer at a fair price.
- A re-melted and re-stamped bar with an assay certificate.
- A piece from a relative or acquaintance below shop price.
When is it a bad deal?
- Any "street gold" with no hallmark and no assay.
- A piece priced close to new (you pay the workmanship premium twice).
- Very old gold that may be worn or contaminated with other metals.
A tip for selling old gold
Compare at least three dealers before selling. Differences between dealers can reach 5%. Large dealers often pay more than small shops because their trading volume is higher.
How do you tell genuine gold from a fake?
Three quick checks before an official test: a magnet test (gold is not magnetic; if a magnet pulls it, it contains mixed metal), a density check (pure gold density is 19.3 g/cm3), and a documented acid test at a trusted dealer. For full certainty, go to the Assay and Weights Authority for an official test; the fee is nominal and the certificate is legally recognized.
A practical example with 2026-04-29 prices
Assume you have a 21K ring weighing 8 grams, bought two years ago for 24,000 EGP. The 21K gram price on 2026-04-29 is 3,635 EGP. Selling it as used: the raw gold value is 8 times 3,635 = 29,080 EGP; the dealer uses the buy price (2% lower) at 8 times 3,562 = 28,496 EGP, then deducts 2% margin, leaving about 28,000 EGP. Net you receive about 28,000 EGP, a 4,000 EGP profit on your original purchase even after losing the workmanship, because the gold price and the pound moved during the holding period. Check historical prices on the archive page before selling to pick a peak.
A tip: do not sell on a weekend afternoon. Global markets are closed, so the dealer cuts the price defensively. The best time to sell is Tuesday or Wednesday morning when global markets are fully active.
Conclusion
Workmanship is never recovered on sale, so treat it as the cost of an elegant object rather than an investment. When the goal is savings, bars beat jewelry. Track the live price on the gold price page before any sale.
Sources
- Federation of Egyptian Chambers of Commerce, Gold Division (indicative prices, 2026-04-29)
- Egyptian Assay and Weights Authority (inspection and testing)
- World Gold Council: gold recycling statistics in emerging markets
- LBMA: international karat testing standards
- goldapi.io: ounce reference price