24K scrap gold calculator

Identify 24K before weighing

24K gold is pure gold — at least 99.9% fine — and it is the reference grade on which every international spot price is based. It has a deep, warm yellow colour and does not tarnish. Look for the stamps 999, 9999, 24K or 24ct. Investment bars also carry a refiner's mark and serial number. Genuine 24K is noticeably heavy and slightly bendable in thin pieces. Read the complete stamp: a plated or filled qualifier means the full weight cannot be valued as a solid 24K alloy. A worn mark is not a laboratory result. If the construction is unclear, ask for appropriate professional testing before relying on a calculation.

Use net metal weight, not the whole object

Because pure gold is very soft, 24K is used mainly for investment bars, bullion coins such as the Canadian Maple Leaf and Austrian Philharmonic, and for traditional jewellery in parts of China, India and Southeast Asia where purity is valued above durability. Stones, watch movements and unrelated steel parts contribute gross weight without adding the same gold content. Keep each purity in a separate group. If you have a mixed lot, use the main scrap calculator to add individual lines instead of applying 24K to everything. Record the scale unit and its precision; grams and pennyweights are not interchangeable.

How this 24K calculator works

The nominal factor is 0.999, so each net gram contains about 99.90% gold. We divide the fine-gold spot ounce by 31.1034768, multiply by your weight and then by this factor. A common 999 stamp and an exact karat fraction can differ slightly; for a binding settlement, an accepted assay is more precise. The default payout is 100%, which displays metal reference rather than predicting a buyer's offer.

Compare offers without guessing a standard percentage

Change the payout field to a percentage you are considering. It is your assumption, not a rate measured from dealers. Request the final net payment, accepted grams, tested purity and all fees from the buyer. Since the price of 24K is essentially the spot price, the difference between what you pay and the melt value is pure premium. Compare premiums per gram across dealers, and for selling, expect the best percentage of spot for recognised refiner bars. Jewelry with a desirable maker or intact stones may be better sold second-hand, so investigate that route before authorizing melting or destructive testing.

Practical checks for a 24K sale

Photograph the marks and item, weigh it with suitable precision and keep purchase or inheritance records where available. Compare written offers made at a similar quote time. A pawn loan is not a sale: its interest, redemption charges and deadline need separate assessment. Taxes depend on location and circumstances; the reference is not a tax-inclusive retail price or financial advice. Live responses are cached for five minutes, and the timestamp—not the page refresh—is the freshness check.

24K gold price per gram and unit tables · How to sell gold · Read gold hallmarks