🥇 Scrap Gold Calculator
Calculate the value of your scrap gold
Common: 24K (pure), 18K (jewelry), 14K (jewelry), 10K (jewelry)
Current market price of gold per troy ounce
How to Use This Calculator
Weigh Your Gold
Weigh your scrap gold items using a scale. Enter the weight and select the unit (grams, ounces, or troy ounces). Jewelry scales typically measure in grams.
Determine Karat
Check for karat stamps on your gold items (10K, 14K, 18K, 22K, 24K). If unmarked, have it tested by a professional. Higher karat means more pure gold.
Enter Current Gold Price
Enter the current market price of gold per troy ounce. You can find this on financial news websites, gold dealers, or precious metals exchanges. Prices fluctuate daily.
Calculate Value
Click calculate to see the value of your scrap gold. Note that buyers may pay 70-95% of melt value depending on the buyer and market conditions.
Formula
Value = (Weight × Purity) × (Gold Price per Troy Ounce ÷ 31.1035)
Where:
• Weight = Total weight of gold item (in grams)
• Purity = Karat ÷ 24 (e.g., 18K = 18/24 = 0.75 or 75%)
• Gold Price per Troy Ounce = Current market price
• 31.1035 = Grams per troy ounce
Example Calculation:
If you have 10 grams of 18K gold, gold price is $2,000/troy oz:
• Purity = 18 ÷ 24 = 0.75 (75%)
• Pure gold = 10g × 0.75 = 7.5 grams
• Price per gram = $2,000 ÷ 31.1035 = $64.30
• Value = 7.5g × $64.30 = $482.25
About Scrap Gold Calculator
A scrap gold calculator helps you determine the melt value (intrinsic value) of your gold items based on their weight, purity (karat), and the current market price of gold. This is useful when selling old jewelry, gold coins, or other gold items for scrap. The calculator shows you the theoretical maximum value (melt value) of your gold, though actual prices from buyers will typically be 70-95% of this value, depending on the buyer, market conditions, and the form of your gold.
When to Use This Calculator
- Selling Gold: Calculate value before selling scrap gold
- Jewelry Evaluation: Determine melt value of old jewelry
- Investment Planning: Understand gold value for investment decisions
- Insurance: Calculate gold value for insurance purposes
- Comparison: Compare offers from different gold buyers
Understanding Karats
- 24K (100% pure): Pure gold, too soft for most jewelry
- 22K (91.7% pure): High purity, common in some regions
- 18K (75% pure): High-quality jewelry, durable and valuable
- 14K (58.3% pure): Most common in US jewelry, good durability
- 10K (41.7% pure): Lower purity, but still valuable
Why Use Our Calculator?
- ✅ Accurate Calculation: Precise melt value calculation
- ✅ Multiple Units: Works with grams, ounces, and troy ounces
- ✅ All Karats: Supports all common karat values
- ✅ Current Prices: Use current market gold prices
- ✅ 100% Free: No registration or payment required
Tips for Selling Scrap Gold
- Know the Value: Use this calculator to know melt value before selling
- Shop Around: Get quotes from multiple buyers (jewelers, pawn shops, online buyers)
- Expect Less: Buyers typically pay 70-95% of melt value
- Clean Gold: Clean items may fetch slightly better prices
- Verify Karat: Have unmarked items tested by professionals
Frequently Asked Questions
What's the difference between karat and carat?
Karat (K) measures gold purity (24K is pure gold). Carat (ct) measures gemstone weight (1 carat = 200mg). They're different units for different purposes.
Why do buyers pay less than melt value?
Buyers pay less because they need to make a profit, cover refining costs, and account for market risks. Expect 70-95% of melt value depending on the buyer and market conditions. Refined gold or gold coins typically fetch higher percentages.
How do I find the current gold price?
You can find current gold prices on financial news websites (Bloomberg, CNBC), precious metals exchanges (LBMA, COMEX), gold dealer websites, or by calling local jewelers. Prices are quoted per troy ounce and update throughout the trading day.
What if my gold isn't marked with a karat stamp?
If your gold isn't marked, have it tested by a professional jeweler, pawn shop, or gold buyer. They use acid tests or electronic testers to determine karat. Unmarked gold may be lower karat or plated, so testing is important.