Scrap gold calculator

How scrap gold value is calculated

Scrap gold value depends on only two things: how much pure gold the item contains and today's spot price. First multiply the weight in grams by the karat purity to get the fine gold weight, then multiply by the spot price per gram. The calculator above repeats this for each piece and adds up the total.

Example with today's price ($133.38 per gram of pure gold): a broken 14K bracelet of 12 g contains 12 × 0.5833 = 7.0 g of gold, worth $933.62. A pair of 18K earrings weighing 4 g adds $400.14, for a combined melt value of $1,333.76.

What buyers actually pay

Melt value is a fine-metal reference, not a promise about the maximum resale value of a finished item. Buyers may deduct assaying, processing and margin; collectible or desirable jewelry may have another resale market. Compare accepted weight, tested purity and final written payment rather than assuming a standard buyer percentage.

Using hypothetical payout assumptions on the example above, an 80% offer would be about $1,067.01, while a 90% offer would be $1,200.39. Knowing the melt value lets you compare offers objectively.

Identifying the karat of your gold

Look for a hallmark: 375 or 9K, 417 or 10K, 585 or 14K, 750 or 18K, 875 or 21K, 916 or 22K, 999 or 24K. Marks such as GP, GF, HGE or RGP mean gold-plated or gold-filled, which have very little scrap value. If there is no hallmark, a buyer can test the item with acid or an XRF analyser.

Remove gemstones before weighing if you can; buyers usually do not pay for stones in scrap. Separate items by karat so each group can be valued correctly.

Tips for selling scrap gold in 1970

Get at least two or three quotes and ask each buyer what percentage of spot they pay and which spot price they use. Weigh your items at home first and watch the item being weighed. Avoid buyers who only quote a price per item rather than per gram.

Prices change daily, so check this page on the day you sell. Coins and bars with collector value may be worth more than melt — check the coin and bar price pages before scrapping them.

Prepare an offer comparison before handing over jewelry

Create an inventory with photographs, markings and separate gram weights. Use a scale suited to small objects and check that its empty reading is zero. A whole-gram kitchen scale can be too imprecise for a light earring. Keep unfamiliar, plated or filled constructions apart from the solid karat groups. A hallmark suggests a grade but is not an authenticity certificate; a buyer may test the metal and adjust the accepted fineness. Ask whether testing is destructive, especially if the piece could have a second-hand market.

Do not remove gemstones or dismantle a watch yourself simply to make the calculation easier. Record gross weight, then ask how the buyer determines net payable metal. Request a written quote naming accepted weight, purity, source reference, fees and final payment. Use the same reference time when comparing buyers. A hypothetical 80% or 90% payout in an example is only arithmetic, not a promise about what any buyer should pay. A desirable brand or collectible coin may be worth more outside the scrap channel.

If posting a lot to a buyer, confirm that the insurance explicitly covers precious metals, who holds custody and what happens if you reject the valuation. Photograph the parcel contents and keep tracking and condition records. Read any return fee or settlement-delay terms before sending. A local transaction reduces shipping concerns but still needs transparent weighing and testing. Never leave the ownership and payment conditions vague.

A pawn loan differs from an outright sale. Its advance is not a scrap purchase offer, and redemption charges, deadlines and default terms must be assessed separately. Tax treatment also depends on your location, records and circumstances. Keep receipts and consult the relevant authority where necessary. Recheck the displayed source timestamp on the day you decide; the website caches live responses for speed and does not measure your item or certify a buyer’s offer.