Scrap Gold Calculator
Calculate the melt value of your gold jewelry, coins, or bars.
Enter weight, karat purity, and current spot price to find what your scrap gold is worth.
Scrap Gold Value
The melt (intrinsic) value of scrap gold depends on three things: the weight, the purity (karat), and the current spot price of gold per troy ounce.
Formula:
Melt Value = Weight in Grams × Purity Fraction × (Spot Price / 31.1035)
Where 31.1035 grams = 1 troy ounce (the standard unit for precious metals)
Gold karat purity:
| Karat | Purity | Gold fraction |
|---|---|---|
| 24K | Pure gold | 99.9% |
| 22K | Jewelry gold | 91.7% |
| 18K | Common jewelry | 75.0% |
| 14K | US standard | 58.3% |
| 10K | Minimum US legal | 41.7% |
| 9K | UK/Europe common | 37.5% |
What you actually get from a dealer: Scrap dealers and pawn shops pay below melt value — typically 70–90% of the calculated melt value. Refiners (for larger quantities) pay closer to 90–95%.
What affects the price:
- Current spot price: gold prices fluctuate daily
- Dealer buy rate: varies from 70% to 95% of melt value
- Weight measurement: troy ounces vs grams vs pennyweights (dwt) — 1 troy oz = 20 dwt = 31.1035 g
How to weigh gold at home: Use a digital jewelers scale that reads in grams. Kitchen scales are often not precise enough for small amounts. For pieces with stones, the stone weight reduces the actual gold weight.
Important: The melt value is the floor — not what you would receive retail or from a certified dealer. Collectible coins or antique jewelry may be worth much more than melt value.