Updated: 1 August 2026 · By Rajesh Londe, Managing Partner, Londe Jewellers Gold & Diamonds · 3rd generation jeweller, since 1989
Quick answer. The value of old gold is decided by four numbers and nothing else: the net weight of gold once stones and any lac filling are excluded, the purity established by testing, the rate applied to that purity on the day you walk in, and the deduction the counter subtracts before paying you. Multiply the first three, subtract the fourth.
Almost every rupee that goes missing on an old gold transaction goes missing in the fourth number, because it is the one people do not think to ask about. In Nagpur today, 1 August 2026, the counter rate at Londe Jewellers Gold & Diamonds is Rs 13,240 per gram for 22K and Rs 14,270 per gram for 24K, and the deduction on both is 0 percent.
This table applies at any counter, in any city. It is worth reading before you walk into one, because each row is a place where the final figure can move and only one of them is genuinely outside anybody's control.
| Number | What it means | How much it can move |
|---|---|---|
| Net weight | Gross weight of the piece minus stones, beads, thread and any lac or wax filling inside hollow work | Large on kundan, meenakari and hollow bangles. Small on a plain chain. Always ask to see the piece weighed before and after stones are accounted for |
| Purity | The actual gold content, established by test rather than by the stamp on the piece | Moderate. An old unstamped piece can read anywhere from 14K to 22K. This is why the test method matters more than the argument |
| Rate applied | The per gram rate used for your metal on the day | Large, and this is the one that hides. Some counters credit your old gold at a lower rate than the rate they sell to you at on the same slip |
| Deduction | A percentage subtracted before payment, usually called melting, refining or wastage | Largest of the four. Commonly 5 to 15 percent. On a 20 gram piece this dwarfs anything a making charge negotiation will ever recover |
Percentages are easy to nod along to and hard to feel. So here is the same 22K piece, 20 grams, valued at today's Nagpur counter rate of Rs 13,240 per gram, run through the deduction bands you will actually be quoted around the city. Gross metal value is Rs 2,64,800 before any deduction.
| Deduction quoted | What you are credited | What it costs you |
|---|---|---|
| 0 percent (Londe Jewellers, 22K and 24K) | Rs 2,64,800 | Rs 0 |
| 5 percent | Rs 2,51,560 | Rs 13,240 |
| 8 percent | Rs 2,43,616 | Rs 21,184 |
| 10 percent | Rs 2,38,320 | Rs 26,480 |
| 12 percent | Rs 2,33,024 | Rs 31,776 |
| 15 percent | Rs 2,25,080 | Rs 39,720 |
Read the bottom row against the top one. That difference is not a discount you negotiate at the end, it is decided the moment you accept the deduction percentage, usually in the first two minutes of the conversation and usually without a number being written down.
Gross metal value at the live counter rate as of 1 August 2026, before any deduction, so you can sanity check whatever figure you are quoted. These are the rates published on our own today's gold rate in Nagpur page and they move daily.
| Weight | 22K at Rs 13,240/g | 24K at Rs 14,270/g | 18K at Rs 10,990/g |
|---|---|---|---|
| 5 grams | Rs 66,200 | Rs 71,350 | Rs 54,950 |
| 10 grams | Rs 1,32,400 | Rs 1,42,700 | Rs 1,09,900 |
| 20 grams | Rs 2,64,800 | Rs 2,85,400 | Rs 2,19,800 |
| 50 grams | Rs 6,62,000 | Rs 7,13,500 | Rs 5,49,500 |
| 100 grams | Rs 13,24,000 | Rs 14,27,000 | Rs 10,99,000 |
Karats other than these three are accepted and valued proportionally at the counter, 14K included. If a piece carries no stamp at all, which is common on inherited jewellery, the machine reading is what decides, not a guess about its age.
Three methods are in use around Nagpur and they are not equivalent. This is worth knowing before you hand a piece across a counter, because the test happens first and everything else follows from its result.
| Method | What happens | Verdict |
|---|---|---|
| XRF machine | An x ray fluorescence reader gives a percentage reading in seconds without damaging the piece | Ask for this. Non destructive, repeatable, and you can watch the reading appear |
| Acid or touchstone test | The piece is rubbed on a stone and acid is applied to the streak | Removes metal from your piece and produces a judgement call rather than a number. Refuse it |
| Eyeball estimate | Someone looks at the piece and states a purity | There is nothing to check it against afterwards. Refuse it |
Insist the test happens in front of you. A piece that leaves the counter and comes back with a number attached has had something happen to it that you did not see. Our full explanation of purity marks and what a BIS HUID does and does not prove is in the gold purity guide.
Ask for the rate you are being credited at and the rate you are being sold at, written down side by side on the same slip. If those two numbers differ, that gap is the true cost of the exchange, and it is almost always larger than the making charge everybody spends their energy arguing about. Ask it at any counter in Nagpur, ours included.
A counter that uses one rate for both has nothing to hide in that answer and will write it down without hesitating. A counter that will not write it down has told you something useful anyway.
None of these five questions is rude and none of them should slow anything down. A counter that answers all five in under two minutes is the counter to deal with. If you would like to model the numbers before you visit, the gold exchange value calculator for Nagpur runs the same arithmetic on your own weights.
Every term below applies at all four Londe Jewellers Gold & Diamonds showrooms in Nagpur, on the same day, with no branch to branch variation.
| Term | What applies at Londe Jewellers Gold & Diamonds |
|---|---|
| Deduction on 22K and 24K gold | 0 percent |
| Karats accepted | 24K, 22K, 18K, 14K and any other purity, valued proportionally |
| Gold bought from another jeweller | Accepted on the same terms |
| Rate used for your old gold | The same prevailing Nagpur counter rate we sell at that day. There is no separate lower rate for gold you bring in |
| How purity is established | XRF machine test, done in your presence, non destructive. No acid test and no estimate |
| Melting charge | None |
| Refining charge | None |
| Wastage charge | None |
| How you are paid | By bank transfer or UPI. Never in cash |
| Turnaround | Same day. You can choose new jewellery and walk out with it |
| GST | Flat 3 percent on the total invoice value of what you buy. Your old gold credit is shown as a separate line |
| Valuation with no obligation | Bring a piece in, get it weighed and tested, take the number away. No obligation to buy |
Four showrooms across the city, all open every day 11 AM to 8:30 PM, all on identical terms and identical pricing. Walk in to whichever is nearest you.
| Showroom | Address | Phone |
|---|---|---|
| Sitabuldi | Modi No. 2, Opposite Datta Mandir, Sitabuldi, Nagpur 440012 | 090755 12053 |
| Gokulpeth | Plot No. 175, N Bazar Road, Gokulpeth, Nagpur 440010 | 084460 90383 |
| Manish Nagar | Beltarodi Road, Near Shanti Park, Manish Nagar, Nagpur 440037 | 080101 48427 |
| Nandanvan | Tiranga Square Road, Azamshah Layout, Nandanvan, Nagpur 440024 | 088579 83767 |
Londe Jewellers Gold & Diamonds has been serving families across Nagpur and Vidarbha since 1989. The full exchange terms, including the callback form, are on the gold exchange in Nagpur page, and if you need a written valuation for insurance or family division rather than for a sale, that is a different service and it is covered on the jewellery valuation in Nagpur page.
Four numbers decide it. The net weight of gold after stones and lac filling are excluded, the purity established by testing, the rate applied to that purity on the day you walk in, and whatever percentage the counter deducts before paying you. Multiply the first three and subtract the fourth. Every argument about old gold value is really an argument about one of those four numbers, and the fourth is where most of the money is lost.
It is a percentage subtracted from the gross metal value before you are credited, usually justified as melting, refining or wastage. On a 20 gram 22K piece at today's rate, a 10 percent deduction costs you Rs 26,480, which is far more than any making charge negotiation will recover. At Londe Jewellers the deduction on 22K and 24K gold is 0 percent, with no melting, refining or wastage charge.
It should not, and here it does not. Purity is what a machine reads, not where the piece was originally bought. Gold from any other jeweller is accepted on the same terms, and all karats are accepted and valued proportionally. A counter that pays less for another jeweller's gold is pricing your inconvenience rather than your metal.
GST applies to what you buy, not to the old gold you bring in. It is a flat 3 percent on the total invoice value of the new jewellery. Ask for the invoice to show the old gold credit as a separate line from the new purchase, because a single netted figure makes it impossible to check afterwards what rate your old gold was actually credited at.
Bring it if you have it, because it makes the paperwork faster. Most inherited jewellery arrives without one and that is normal. What matters at the counter is the weight and the machine reading, both of which are established in front of you on the day.
By bank transfer or UPI, never in cash, and the turnaround is same day. You can bring a piece in for a valuation with no obligation to buy anything at all. All four Nagpur showrooms are open every day 11 AM to 8:30 PM.
Bring it in and find out. Weighed and XRF tested in front of you, a number in your hand, no obligation to buy anything. Four showrooms across Nagpur, open every day 11 AM to 8:30 PM.
Sitabuldi 090755 12053 · Gokulpeth 084460 90383 · Manish Nagar 080101 48427 · Nandanvan 088579 83767
Londe Jewellers Gold & Diamonds · Golden Bonds of Trust
