Buying and Selling Gold in Lebanon: Practical Tips
Many Lebanese families keep part of their savings in gold, and it is still the default gift for engagements, weddings and births. Gold itself is easy to price. Problems come from everything around it: workmanship you can't get back, unclear weights, coins that aren't what they seem, and selling at the wrong place. These tips are about avoiding those mistakes. If you first want to understand karats and how the gram price is calculated, start with our guide to gold prices and karats.
Before you go: know today's price
Open our gold page before you walk into a shop. Today the 21k gram is $109.37 and the 18k gram is $93.74. Write down the gram price for the karat you want. With that one number you can check the metal part of any quote yourself.
Keep in mind that jewellers update their boards on their own schedule, and the international price moves during the week. A difference of a dollar or two per gram is normal. A difference of ten dollars or more needs an explanation.
When buying
1. Decide what the gold is for
- To wear: design matters, and you'll accept paying workmanship.
- To save: choose bars, plain coins or simple pieces with the lowest workmanship you can find. Every dollar of workmanship is a dollar you won't see again when you sell.
2. Check the stamp
Most gold jewellery carries a small stamp showing its purity: 750 for 18k, 875 for 21k, 916 for 22k, 999 for 24k. Some pieces show the karat instead (18K, 21K). A stamp isn't a guarantee on its own, but a piece with no stamp at all deserves a question, and a reputable jeweller will explain it.
3. Watch the weighing
Ask for the piece to be weighed in front of you, on a scale you can read, after any tags or boxes are removed. Write down the weight to two decimals. On a 20-gram set, a 0.3 g rounding is several dozen dollars.
4. Get the price split into three parts
Ask the jeweller to break the price down:
| Line | How it's worked out |
|---|---|
| Gold | weight × gram price for that karat |
| Workmanship («المصنعية») | per gram or per piece |
| Stones or other parts | priced separately, not as gold |
If the quote is a single round number, do the arithmetic yourself: subtract the metal value, and the rest is workmanship and margin.
Example: a 21k ring of 6 g is offered for $760. If the 21k gram is $112 (example), the metal is 6 × 112 = $672, so $88 is workmanship, about $14.70 per gram. Now you can compare that with another shop.
5. Don't pay gold price for stones
Stones, pearls, enamel and clasps add weight but aren't gold. Ask for the gold weight without them, or ask how much of the total weight is gold.
6. Get a proper receipt
Ask for a receipt (fatoura) with the shop's name, the date, a description of the item, its karat, its weight and the price. It helps when you resell or exchange the piece, and it is your record if something turns out wrong. Many jewellers will buy their own pieces back more readily with their receipt.
7. Coins: ask exactly which coin
"Lira" can mean the 8-gram 21k piece many jewellers quote, the English sovereign (7.988 g, 22k) or the Ottoman Rashadi (7.216 g, 22k). They contain different amounts of gold. Ask which one, check the weight on the scale, and expect to pay a premium above the metal value.
When selling
1. Know the buy-back gap
Jewellers sell at one price and buy at another. When you sell, you get:
- the metal value at the jeweller's buy price, which is usually somewhat below the market gram price;
- no workmanship, however recent the purchase.
Example: you bought a 10 g 18k chain a month ago for $1,050, of which $90 was workmanship. The 18k gram is still $96 (example). A jeweller buying at, say, $93 per gram (example) offers $930. You lose $120, and gold didn't move at all.
2. Get two or three quotes
Buy prices differ more between shops than sell prices. Visit more than one jeweller, ideally including the one you bought from if you have the receipt. Ask each for a price per gram for your karat, not just a total.
3. Weigh and test in front of you
When you sell, the shop will weigh the piece and may test it (acid test, electronic tester). Stay with the piece. Make sure the weight they write down matches what you saw on the scale.
4. Old or broken jewellery is sold as scrap
Broken chains, single earrings and old designs are bought for their gold content only. Don't expect more because of the design. Sometimes it is worth exchanging old pieces for new ones at the same shop instead; ask how they price an exchange.
5. Watch the dollar if you're paid in lira
Jewellers generally deal in dollars. If a shop offers to pay you in lira, check the rate it uses against today's market rate on our home page. A rate a thousand pounds below the market on a $2,000 sale costs you about $22.
Safety and common sense
- Carry less, pay electronically when possible, and avoid counting large sums on the street.
- Be wary of "too good" offers: gold sold well below the market gram price by a private seller or online is a warning sign, not a bargain.
- Don't rely on a magnet or a bite. They don't prove gold content. A jeweller's tester or a lab does.
- Keep photos and receipts of valuable pieces in a safe place, separate from the gold.
Quick summary
| Buying | Selling |
|---|---|
| Know the gram price for your karat | Know the gram price for your karat |
| Weigh in front of you | Weigh and test in front of you |
| Split gold / workmanship / stones | Expect metal value only, no workmanship |
| Get a receipt with karat and weight | Bring the receipt; compare 2–3 shops |
| For savings, choose low workmanship | Ask for the buy price per gram |
The price on our gold page is the international benchmark converted per karat. It tells you what the metal is worth; the shop's quote adds workmanship when you buy and removes its margin when you sell. Knowing both sides is the best protection you have.