đź’° Scrap Gold Calculator

Calculate the Value of Your Scrap Gold

Wondering how much your old or broken gold jewelry is worth? Our Scrap Gold Calculator provides an instant estimate based on the live market price of gold. Simply enter the weight and purity (karat) of your gold items to determine their melt value. It's the perfect tool for anyone looking to sell scrap gold and wanting a fair price.

Scrap Gold Calculator

Calculate the value of your scrap gold based on current market prices. Enter the weight and purity of your gold items to determine their melt value. This calculator helps you understand what your gold is worth before selling to refiners or dealers.

Gold Market Price

$ per troy oz

Gold Items

1

Advanced Options

%
Typical dealer payout is 70-95% of melt value

Understanding Scrap Gold Value

Scrap gold value is calculated based on the pure gold content (also called "fine gold") in your items. The value depends on three main factors: the current market price of gold, the weight of your items, and their purity (karat).

Gold Purity and Karats

Gold purity is measured in karats (K), with 24K being pure gold (99.9%). Lower karat gold contains alloys mixed with pure gold to increase durability:

  • 24K Gold: 99.9% pure gold - Soft and rarely used in jewelry
  • 22K Gold: 91.7% pure gold - Common in Asian and Middle Eastern jewelry
  • 18K Gold: 75.0% pure gold - Popular for fine jewelry
  • 14K Gold: 58.3% pure gold - Most common in American jewelry
  • 10K Gold: 41.7% pure gold - Minimum karat to be called gold in the US
  • 9K Gold: 37.5% pure gold - Common in European jewelry
Weight Units in Gold Trading
  • Troy Ounce (oz t): The standard unit for precious metals; 1 troy oz = 31.1035 grams
  • Gram (g): Commonly used worldwide; 1 gram = 0.03215 troy ounces
  • Pennyweight (dwt): Traditional jewelers' unit; 1 dwt = 1.55517 grams
  • Ounce (oz): Regular ounce (avoirdupois); 1 oz = 28.35 grams (lighter than troy ounce)
How Melt Value is Calculated

The melt value formula is:

  1. Convert the weight to troy ounces (if not already)
  2. Multiply by the purity percentage to get pure gold content
  3. Multiply pure gold weight by current gold price per troy ounce
  4. Formula: Melt Value = Weight (troy oz) Ă— Purity (%) Ă— Gold Price
Dealer Payout

Dealers typically pay 70-95% of the melt value when buying scrap gold. The percentage depends on:

  • The dealer's refining costs and profit margins
  • The quantity of gold you're selling (larger amounts often get better rates)
  • The purity of your items (higher purity items may command better rates)
  • Market conditions and competition
  • Your negotiating ability

Always get quotes from multiple dealers and compare their payout percentages before selling.

Important Considerations
  • Hallmarks: Look for stamps like "14K", "585", or "750" indicating purity
  • Testing: Professional dealers will test your gold to verify purity
  • Antique Value: Some items may be worth more as antiques than as scrap
  • Gemstones: Remove valuable stones before selling for scrap
  • Market Timing: Gold prices fluctuate daily; timing can affect your payout
Tips for Selling Scrap Gold
  • Separate your gold by karat before getting quotes
  • Weigh your gold yourself first to verify dealer scales
  • Get multiple quotes from reputable dealers
  • Understand the dealer's payout percentage before agreeing to sell
  • Consider selling to online refiners for potentially higher payouts
  • Never feel pressured to sell immediately; take time to compare offers

Scrap Gold Calculator Overview

The Scrap Gold Calculator helps you quickly estimate the value of your gold items based on their weight, purity, and the current market price of gold. It provides a reliable way to understand how much your scrap gold is worth before you visit a dealer or refiner. This tool gives you both the melt value (the value of pure gold content) and the potential dealer payout after typical fees or percentages are applied.

Melt Value Formula:

\( \text{Melt Value} = \text{Weight (troy oz)} \times \text{Purity (\%)} \times \text{Gold Price per Troy Ounce} \)

How the Calculator Works

The calculator estimates the melt value—the raw worth of the gold after refining. It uses standard industry conversions and purity levels to make the process simple for everyday users. You can enter your gold’s details, and the calculator automatically performs the math for you.

  • Weight: Input the weight of your gold items using grams, ounces, or other supported units.
  • Purity: Choose the karat rating (e.g., 24K, 18K, 14K) or enter a custom purity percentage.
  • Gold Price: Enter the current gold price per troy ounce to reflect the latest market value.
  • Dealer Payout: Adjust the payout percentage to see how much you may receive from a refiner or buyer.

Why Use the Scrap Gold Calculator?

This tool empowers you to make informed decisions when selling or valuing your gold. By showing both total and itemized results, you can easily compare the worth of different pieces and understand how purity and weight affect value. It’s particularly useful for:

  • Estimating the value before visiting a gold buyer.
  • Comparing offers from multiple dealers.
  • Learning how purity affects price.
  • Converting weights between grams, ounces, and troy ounces.
  • Getting transparent, easy-to-understand calculations.

Step-by-Step Guide

  1. Enter the current gold market price per troy ounce.
  2. Add each gold item by specifying its name, weight, and purity.
  3. Adjust dealer payout percentage if you want to estimate how much a buyer might offer.
  4. Click Calculate Value to see total melt value, dealer payout, and weight conversions.
  5. Review the item breakdown for detailed results.

Understanding the Formula

The calculator uses a straightforward formula to estimate melt value. Here’s how it works:

  • Convert your gold’s weight into troy ounces, the standard unit for precious metals.
  • Apply the purity percentage to find the amount of pure gold in your item.
  • Multiply by the current gold price per troy ounce to get the melt value.

For example, if you have 18K gold weighing 10 grams and gold is priced at $2,000 per troy ounce:

\( \text{Melt Value} = (10\,g \times 0.03215) \times 0.75 \times \$2000 = \$482.25 \)

Benefits of Using This Calculator

  • Transparency: Know exactly how your gold’s value is determined.
  • Accuracy: Uses precise conversion factors between grams, troy ounces, and pennyweight.
  • Flexibility: Add multiple items with varying purities and weights.
  • Convenience: Calculate from home without relying on dealer estimates.

Frequently Asked Questions (FAQ)

What does “melt value” mean?

Melt value represents the value of pure gold in your item if it were melted down and refined. It excludes craftsmanship or collectible value.

Why is dealer payout lower than melt value?

Dealers typically pay 70–95% of melt value to cover refining costs and business overhead. This percentage can vary depending on market demand and item quantity.

Which unit should I use to weigh my gold?

You can use grams, ounces, or troy ounces. The calculator automatically converts weights for consistent results.

Can I enter multiple gold items?

Yes, you can add multiple items and get both individual and total values. This is helpful for comparing several jewelry pieces or batches.

Does the calculator include gemstone value?

No, it calculates gold value only. Remove gemstones before weighing to ensure accuracy.

Is the gold price updated automatically?

You can manually enter the current market price per troy ounce. Many financial sites and commodity tickers publish daily gold prices.

Conclusion

The Scrap Gold Calculator is a valuable online tool for estimating the true worth of your gold. Whether you’re selling old jewelry, comparing dealer offers, or simply curious about your collection’s value, this calculator offers clarity and confidence. With just a few simple inputs, you can understand the relationship between gold weight, purity, and market prices—helping you make informed decisions before you sell.

More Information

Calculating Gold Value:

The value of your scrap gold depends on three main factors:

  • Weight: The total weight of your gold items. You can measure this in grams, ounces, or pennyweights (DWT).
  • Purity (Karat): Gold is rarely 100% pure (24k). Jewelry is often 18k (75% pure), 14k (58.3% pure), or 10k (41.7% pure). Select the correct karat for an accurate valuation.
  • Current Gold Price: The calculator uses the live market price of gold (spot price) to determine the value of the pure gold content in your items.

Our calculator does the math for you, converting the weight and purity into a real-time dollar value.

Frequently Asked Questions

What does karat mean?
Karat (k) is a measure of the purity of gold. 24-karat gold is pure gold, while 14-karat gold contains 14 parts gold and 10 parts other metals, making it 58.3% pure.
How do I weigh my gold accurately?
For the most accurate measurement, use a digital jewelry scale. If you don't have one, a kitchen scale can work, but it may be less precise for small items.
Does this calculator include the buyer's fee?
No, this calculator provides the melt value based on the live gold price. Gold buyers and pawn shops will typically offer a percentage of this value, as they have processing fees and need to make a profit.

About Us

We aim to bring transparency to the process of selling scrap gold. Our tools are designed to empower consumers with accurate information, so you can be confident you are getting a fair deal when you decide to sell your precious metals.

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