Does a broken gold chain still have value? How

Mark Kurkdjian
Dec 20, 2025
2 min read

You found a broken gold chain in a drawer and wondered if it's worth anything. Short answer: yes — almost always, but how much depends on a few things.

The real issue

Gold's value comes from two sources: melt value (the metal itself) and resale value (brand, design, stones, fixability). A broken chain still contains the metal. If it's solid gold, the grams and the karat drive the base value. If it's plated or gold-filled, the metal value can be negligible and the shop will treat it like scrap or costume jewelry.

Damage changes the resale path. A chain with a snapped link and no stones is easier to fix and might sell as jewelry. A chain missing hallmarks or with non-gold repairs will be treated as melt first. Shops price with resale-first thinking: they ask, "Can I turn this into cash quickly?" If yes, offers are higher. If not, expect an offer anchored to melt value minus handling and risk.

The pawnshop play (Vancouver)

First, a pawnbroker will check for hallmarks and test the metal to confirm karat. Testing and weighing are how the shop converts the piece into a grams × purity number. In Vancouver, offers track local spot gold and the shop's need to cover refining, inspection, and resale effort, so the offer is a fraction of spot rather than full market price.

Second, the shop separates repairable pieces from scrap. If the chain is repairable and the style or maker has resale demand, the shop will price for resale and may pay noticeably more than scrap. If it's heavily damaged, mixed-metal, or gold-plated, the shop treats it as scrap and bases the offer on melt value minus processing costs.

Third, you can choose how to extract value. Sell for scrap for the fastest cash but accept a lower percentage of spot. Ask for a resale-based offer if the chain looks fixable or has a known maker. Or use the chain as collateral for a pawn loan if you want cash now but might want the chain back.

Counter checklist

Find and show any hallmarks or karat stamps; they matter to the price.
Weigh the piece if you can; grams give you a ballpark before you go.
Know it may be paid as scrap (lower %) or resale (higher %); ask which the shop is using.
Check for plating or mixed metals; plated pieces rarely have melt value.
Save any receipts, appraisals, or provenance — they boost resale.
Get at least two offers: one scrap-based and one resale-based.
Consider a pawn loan if you want cash now and the option to reclaim the chain.