Scrap Gold Calculator
Enter your gold weight, karat, and the current spot price to find out exactly what your scrap gold is worth. The calculator shows the gross melt value, the weight of pure gold in your piece, and an estimated dealer payout at any percentage you choose. Switch between grams, troy ounces, pennyweights (dwt), and grains to match your scale.
How scrap gold value is calculated
Scrap gold value comes down to three numbers: the weight of your item, its purity in karats, and the current gold spot price. First, the gross weight is converted to troy ounces (the standard unit for precious metals, equal to 31.1035 grams). That figure is then multiplied by the purity fraction: a 14K piece is 14/24 = 58.33% pure gold, so only 58.33% of its weight is fine gold. Finally, the fine gold weight in troy ounces is multiplied by the spot price to produce the gross melt value. What a buyer actually pays is a percentage of that melt value, typically 70-92% at online buyers and 50-65% at pawn shops.
Understanding karats and purity
Karat is a measure of gold purity expressed as parts per 24. Pure gold is 24 karat (24K), meaning 24 out of 24 parts are gold. A 14K piece contains 14 parts gold and 10 parts alloy metals such as silver, copper, nickel, or zinc, giving it 58.33% purity. The alloy metals are added to increase hardness and durability: pure 24K gold is quite soft. U.S. jewelry is most commonly 10K or 14K; British and European jewelry often uses 9K or 18K; Middle Eastern and Asian fine jewelry is frequently 21K or 22K. Gold is always stamped with the karat number or millesimal fineness (375 for 9K, 585 for 14K, 750 for 18K, 999 for 24K) inside rings, on clasps, or on a small tag.
Weight units for gold
Gold is traded and weighed in troy ounces (ozt), not the avoirdupois ounces used for everyday goods. One troy ounce equals 31.1035 grams, while a standard avoirdupois ounce is 28.3495 grams, about 9% lighter. Jewelers in North America often use pennyweights (dwt): 20 dwt = 1 troy oz, or about 1.555 grams per dwt. Grains are another historical unit: 480 grains = 1 troy oz. When weighing your items, confirm whether your scale reads in grams (most kitchen scales) or pennyweights (many jewelry scales) and select the matching unit in this calculator.
Getting the best price for scrap gold
The price you receive depends heavily on where you sell. Pawn shops typically offer 50-65% of melt value because they carry inventory risk and pay for testing. Local coin and jewelry shops may offer 60-75%. Online gold buyers (such as cash-for-gold mail-in services) usually pay 70-92% because their overheads are lower and they process high volumes. Refineries pay the most, 88-98%, but usually require minimum weights or industry accounts. Before selling, get quotes from at least three buyers and always weigh your items yourself on a calibrated scale so you can verify the buyer's measurement. The gold spot price changes every business day, so check an up-to-date source such as Kitco or Gold Price before you accept an offer.
Gold purity and value by karat
| Karat | Purity (%) | Millesimal fineness | Melt value per gram (at $3,300/ozt) |
|---|---|---|---|
| 9K | 37.50 | .375 | $39.77 |
| 10K | 41.67 | .416 | $44.19 |
| 12K | 50.00 | .500 | $53.03 |
| 14K | 58.33 | .583 | $61.87 |
| 15K | 62.50 | .625 | $66.29 |
| 18K | 75.00 | .750 | $79.55 |
| 20K | 83.33 | .833 | $88.38 |
| 21K | 87.50 | .875 | $92.80 |
| 22K | 91.67 | .916 | $97.23 |
| 24K | 99.90 | .999 | $105.90 |
Purity percentages, millesimal fineness, and approximate melt value per gram at $3,300/troy oz spot price.
Frequently asked questions
What is the difference between melt value and scrap value?
Melt value is the theoretical maximum a piece of gold is worth based purely on its fine gold content at the current spot price. Scrap value (or scrap payout) is what a real buyer will actually pay, which is always less than melt value. Buyers deduct a margin to cover refining costs, assaying, transportation, overhead, and profit. That margin is typically 8-50% of the melt value depending on the buyer type.
How do I find out what karat my gold is?
Look for a hallmark or stamp on the piece: inside a ring band, on a clasp, or on a tag. U.S. pieces are stamped with the karat number (10K, 14K, 18K, 24K). European pieces use millesimal fineness: 375 means 9K (37.5%), 585 means 14K (58.5%), 750 means 18K (75%), 999 or 9999 means 24K. If there is no stamp, or you suspect the stamp may not be accurate, a jeweler or refiner can perform an acid test or XRF assay.
Why do I need a troy ounce instead of a regular ounce?
Gold spot prices are always quoted in troy ounces (ozt), which equal 31.1035 grams. Regular (avoirdupois) ounces weigh only 28.3495 grams, about 9% less. If you use a kitchen scale reading in regular ounces and forget to convert, you will overestimate your gold weight by roughly 10%. This calculator handles the conversion automatically when you select the right weight unit.
What payout percentage should I expect?
Pawn shops: 50-65%. Local jewelers and coin shops: 60-75%. Online gold buyers and mail-in services: 70-92%. Precious metal refineries: 88-98%. The wide range exists because buyers have different overhead costs, testing methods, and minimum volumes. Getting multiple quotes before selling is the single most effective way to maximize your return.
Does the karat stamp guarantee the gold content?
In the United States, the Federal Trade Commission requires that karat markings be accurate within 0.5K, and they must be accompanied by a maker's mark or trademark. However, counterfeit or mislabeled jewelry does exist, particularly on imported pieces bought from unverified sellers. Reputable buyers always test gold before paying, using acid tests or XRF analysis, so you will be paid for the actual content rather than the stamp.
Can I use this calculator for gold-filled or gold-plated jewelry?
No. Gold-filled and gold-plated items have only a thin layer of gold bonded to a base metal core. The gold layer is too thin to recover economically at most scrappers, and the piece has essentially no scrap gold value. This calculator applies only to solid karat gold items where the entire piece has the stated purity throughout.
How often does the gold spot price change?
The gold spot price changes continuously during market trading hours, Monday through Friday. It can move several dollars per troy ounce in a single session and sometimes hundreds of dollars over weeks or months. Always check the current spot price from a live source such as Kitco.com or GoldPrice.org immediately before accepting an offer, and use that same-day price in this calculator for the most accurate estimate.