With record-high gold prices and strong levels for silver and platinum, many Australians may be unaware of just how much latent wealth lies within old jewellery, coins, or bars tucked away at home.

Current Spot Prices (per troy ounce, latest available)

Gold (spot AUD): Approximately A$5,260 per ounce, as reported by the GoldCompany on 31 August 2025

Platinum (spot AUD): Around A$2,194.51 per ounce, according to the GoldCompany as of 2 September 2025, 08:26 am

Silver (estimated): While an exact spot rate wasn’t listed, high-quality silver sells for approximately A$58–68 per ounce at The GoldCompany

By comparison, gold is more than twice the price of platinum and many times higher than silver—even in its bullion form.

What’s in Your Pile?

Here’s how much value typical precious metal items might hold at today’s prices:

Item Approx. Content (oz) Metal Value (AUD)
14K wedding ring (~3 g ≈ 0.096 oz) 58.5% (~0.056 oz) Gold ~$5,260 × 0.056 ≈ A$295
1 oz old gold coin 1 oz Gold A$5,260
Platinum chain (~10 g ≈ 0.322 oz) 95% (~0.306 oz) Platinum ~$2,194 × 0.306 ≈ A$670
Silver coin (1 oz) 1 oz Silver ~$60 (estimated)

Old gold rings, necklaces, or coins may be worth hundreds—if not thousands—depending on weight and karat.

Platinum jewellery, often overlooked, can fetch valuable returns, especially since its price is still strong relative to historical averages.

Even silver pieces, while less valuable per ounce, can add up if you have several.

Why Prices Are So High Now

Gold prices in the U.S. recently surged to an intraday high of US$3,477, boosting Australian rates via exchange rate shifts

The weakening of the U.S. dollar and global economic uncertainties have driven investors toward safe-haven commodities like gold and platinum

What You Can Do Next

Weigh your items and check their purity.

Calculate approximate precious metal content (e.g. a 10 g 14K gold piece = 58.5% pure = 5.85 g gold).

Multiply by current spot rates – remember, retail dealers offer buy-back prices slightly lower.

Shop around – dealers like The Perth Mint offer live buy/sell rates; for instance, today The GoldCompany would offer A$1,996.79 for a 1 oz platinum coin

Final Thoughts

Australians may be overlooking real value in their households: a single gold coin or old piece of jewellery could be worth enough to cover a weekend getaway or a month’s groceries. Given gold sits at roughly A$5,260 per ounce, platinum at A$2,194, and silver around A$60, it’s well worth doing the math or taking items to a trusted bullion dealer.