Scrap Gold Calculator
Find the melt value of scrap gold jewelry by karat and weight in grams, pennyweight or troy ounces at the current spot price, plus the pure gold content and what a buyer is likely to offer.
Scrap gold calculator
How scrap gold value is calculated
Melt value = weight in grams × purity ÷ 31.1035 × spot price per troy ounce. Gold is priced per troy ounce (31.1035 g), not the 28.35 g ounce used for food scales. 1 pennyweight (dwt) = 1.555 g; 20 dwt = 1 troy ounce.
Example: 10 g of 14K gold (58.33% pure) holds 5.833 g of pure gold, 0.1875 troy oz. At an example spot price of $4,000, melt value is $750.18; at 80% payout, about $600. Use the live spot price on the day you sell; the default is only an example.
| Karat | Gold content | US stamp |
|---|---|---|
| 10K | 41.7% | 10K, 417 |
| 14K | 58.3% | 14K, 585 |
| 18K | 75.0% | 18K, 750 |
| 22K | 91.7% | 22K, 916 |
| 24K | 99.9% | 24K, 999 |
Getting a fair price
Refiners and dealers pay a percentage of melt value, commonly 70% to 95% depending on volume and buyer; pawn shops and mail-in buyers often pay less. Weigh your gold on a gram scale first, separate it by karat, remove stones, and get two or three quotes. Under US law, gold marked 10K or more must be within 0.003 of the stated fineness (FTC jewelry guides).
Common questions
How much is 14K gold worth per gram?
Spot price ÷ 31.1035 × 0.5833. At $4,000 an ounce, about $75.02 per gram.
How do I calculate scrap gold value?
Grams × purity ÷ 31.1035 × spot price per troy ounce.
What is a pennyweight?
1.555 grams; 20 pennyweights make a troy ounce.
How much do gold buyers pay?
Usually 70% to 95% of melt value.
Is a troy ounce the same as an ounce?
No: a troy ounce is 31.1035 g; a regular ounce is 28.35 g.
Sources
- NIST Handbook 44, Appendix C: Troy weights
- FTC: Guides for the jewelry, precious metals and pewter industries (16 CFR 23)
Related
General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.