Scrap Gold — Smart Financial Analysis
Calculate the melt value and dealer payout for your scrap gold. Weight × (Karat ÷ 24) × Spot price per gram.
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Scrap gold value = Weight × (Karat ÷ 24) × Spot Price per gram. 24K = pure gold (99.9%). Typically 70-90% of melt value. When gold prices are high (check historical charts), selling broken or unworn jewelry makes sense.
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Why: Scrap gold value = Weight × (Karat ÷ 24) × Spot Price per gram. A 10g 14K gold item at $2,000/oz spot: 10 × (14/24) × ($2,000/31.1) = $375 melt value. Dealers pay 70-90% of melt...
How: Enter Weight (grams), Karat Purity, Spot Price ($/oz) to get instant results. Try the preset examples to see how different scenarios affect the outcome, then adjust to match your situation.
Run the calculator when you are ready.
📋 Quick Examples — Click to Load
📊 Melt Value vs Dealer Payout
Melt value, dealer payout, and dealer profit
🍩 Pure Gold vs Alloy
Composition by weight
📊 Value by Karat
Same weight at 10K, 14K, 18K, 22K, 24K
📈 Price Sensitivity
Melt value at different spot prices
Dealer Payout
5.83g pure gold at 14K. Melt value $375.13.
For educational purposes only — not financial advice. Consult a qualified advisor before making decisions.
💡 Money Facts
Scrap Gold analysis is used by millions of people worldwide to make better financial decisions.
— Industry Data
Financial literacy can increase household wealth by up to 25% over a lifetime.
— NBER Research
The average American makes 35,000 financial decisions per year—many can be optimized with calculators.
— Cornell University
Globally, only 33% of adults are financially literate, making tools like this essential.
— S&P Global
Gold has been a store of value for over 5,000 years and remains one of the most traded commodities globally. The scrap gold market is worth billions annually as broken jewelry, old coins, and dental gold are refined back into pure gold. With spot prices above $2,000 per troy ounce, even small amounts of scrap gold can have significant value.
Sources: LBMA Gold Price, Kitco, World Gold Council, US Mint.
Key Takeaways
- • Melt value = Weight × (Karat ÷ 24) × Spot price per gram
- • Dealers typically pay 70-90% of melt value; refineries pay 90-98%
- • Higher karat = more pure gold content = higher value per gram
- • Always get multiple quotes and verify weight and purity before selling
Did You Know?
How Does Scrap Gold Valuation Work?
Pure Gold Content
Pure Gold = Weight × (Karat ÷ 24). A 10g 14K item has 10 × (14/24) = 5.83g of pure gold.
Melt Value
Melt Value = Pure Gold × Spot Price per Gram. Spot per gram = Spot per oz ÷ 31.1.
Dealer Payout
Dealers pay a percentage of melt value (typically 70-90%). Scrap Payout = Melt Value × Dealer %.
Expert Tips
Karat Purity Comparison
| Karat | Purity % | Common Use |
|---|---|---|
| 24K | 99.9% | Investment bars, coins |
| 22K | 91.7% | Indian jewelry, sovereigns |
| 18K | 75% | Fine jewelry, luxury watches |
| 14K | 58.3% | US jewelry standard |
| 10K | 41.7% | Durable everyday jewelry |
Frequently Asked Questions
How is scrap gold valued?
Scrap gold value = Weight × (Karat ÷ 24) × Spot Price per gram. A 10g 14K gold item at $2,000/oz spot: 10 × (14/24) × ($2,000/31.1) = $375 melt value. Dealers pay 70-90% of melt value.
What do gold karats mean?
24K = pure gold (99.9%). 22K = 91.7%. 18K = 75%. 14K = 58.3%. 10K = 41.7%. Higher karat = more gold content = higher value. Most jewelry is 10K-18K.
How much do dealers pay for scrap gold?
Typically 70-90% of melt value. Refineries: 90-98%. Pawn shops: 40-60%. Online buyers: 75-85%. Always get multiple quotes. Reputable dealers are transparent about pricing.
How do I test gold purity?
Acid test (most common), electronic tester, XRF analyzer (most accurate), magnet test (gold isn't magnetic), density test (gold is very dense at 19.3 g/cm³). Hallmarks indicate karat.
Is selling scrap gold a good idea?
When gold prices are high (check historical charts), selling broken or unworn jewelry makes sense. Gold has risen from ~$250/oz in 2000 to $2,000+ in 2024. Timing can matter significantly.
What affects the gold spot price?
Inflation fears, currency weakness (USD), central bank buying, geopolitical uncertainty, interest rates, and jewelry/industrial demand. Gold is a traditional safe-haven asset.
Key Statistics
Official Data Sources
⚠️ Disclaimer: This calculator is for educational purposes only. Melt values are estimates based on current spot prices. Actual dealer payouts vary by buyer, location, and market conditions. Not financial or selling advice. Verify weight and purity before selling.
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