Step 1: Weigh Your Scrap Gold
Enter the total weight of your scrap gold in grams. Most household kitchen scales measure in grams and can provide a rough estimate. For better accuracy, a digital gram scale is recommended—especially for small or lightweight items such as rings, chains, or broken jewelry.
- Remove non-gold components such as stones, clasps, or fillings before weighing when possible.
- Tip: Accurate weight is critical—small differences can significantly affect the final scrap gold value.
Step 2: Select Gold Purity (Karat)
Choose the gold purity (karat) that matches your item. Common gold purities include:
- 24 karat (99.9% pure gold)
- 18 karat (75% gold) – common in fine jewelry
- 14 karat (58.5% gold) – very common in U.S. jewelry
- 10 karat (41.7% gold) – minimum karat legally considered gold in the U.S.
Most gold jewelry is stamped with a karat mark such as 10K, 14K, 18K, or 750. If your item is not stamped or you’re unsure, consider testing it before relying on the calculation.
Step 3: Live Gold Price
The calculator automatically uses the current live gold price per troy ounce, updated in real time.
- Gold prices are quoted in troy ounces, not standard ounces.
- One troy ounce equals 31.1035 grams.
- The calculator converts weight and purity into a melt value estimate based on the current spot price of gold, ensuring your scrap gold value reflects real market conditions.
Important Notes About Scrap Gold Value
- The calculated value represents the theoretical melt value, not a guaranteed payout.
- Most buyers (pawn shops, gold buyers, refiners) pay less than 100% of melt value to cover refining costs, risk, and profit margins.
- Typical payouts range from 70% to 95% of melt value, depending on volume, purity, and market conditions.
- Always compare multiple offers before selling scrap gold.
Tools That Help You Value Scrap Gold Accurately
- Digital Gram Scale
- Provides more accurate weight readings than most kitchen scales
- Widely available online, often priced under $10
- Essential for weighing small gold items
- Gold Testing Kits
- Helpful for confirming purity if your gold is not clearly marked
- Basic acid testing kits are inexpensive; electronic testers offer greater accuracy
- Testing is especially important for mixed lots or unmarked items
With a simple scale and testing kit, most individuals can evaluate scrap gold with reasonable accuracy for under $30 total.
Why Use a Scrap Gold Calculator Before Selling?
- Helps you avoid underpricing your gold
- Gives you leverage when comparing dealer offers
- Allows you to decide whether selling now or holding makes more sense
- Provides transparency during periods of high gold price volatility
Whether you’re selling broken jewelry, old coins, or unused gold items, understanding your scrap gold value starts with accurate data.
Disclaimer
This calculator provides estimates only based on current market prices. It does not constitute financial advice or a guaranteed offer to buy gold. Actual payouts vary by dealer and market conditions.