Scrap Gold Calculator
Never sell blindly. Calculate the exact, true intrinsic melt value of your gold jewelry and coins before visiting a buyer.
Valuation Results
Note: Rarely does a scrap yard pay 100% of melt value. They have overhead and refining fees. Expect offers between 70% and 80% of the true melt value.
Understanding Gold Valuations
The scrap buyer industry relies on the fact that most sellers don't know the actual math behind gold pricing.
Gold is Not 100% Pure
Karats measure purity out of 24. A 14K ring is strictly 14/24ths gold. The remaining 10/24ths are alloys (copper, zinc) that the scrap yard assigns zero value to.
Troy vs Avoirdupois
Spot prices are quoted in Troy Ounces (31.1 grams). If you weigh your items on a kitchen scale, you're using Avoirdupois Ounces (28.4 grams). Mixing these up causes huge errors.
Gemstones Are Excluded
When selling scrap, buyers remove the estimated weight of diamonds or stones before calculating the gold weight, often offering pennies on the dollar for small stones.
How to Calculate Melt Value Manually
The Formula
If you want to run the calculations yourself to verify a dealer's math, use this straightforward order of operations (assuming your weight is in grams):
Grams / 31.103 = Weight in Troy Oz
Weight in Troy Oz × (Karat / 24) = Pure Gold Troy Oz
Total Pure Gold × Spot Price = Total Valuation
Frequently Asked Questions
What does "Melt Value" mean?
"Melt value" is the intrinsic value of the pure gold contained inside an item, regardless of its shape, history, or craftsmanship. It is the absolute maximum amount a refiner can extract from melting the item down.
Will a buyer pay me the full melt value?
No. Pawn shops, jewelry stores, and "Cash for Gold" operations have overhead costs, profit margins, and refining fees. A highly aggressive buyer might pay 80% to 85% of melt value, while a less competitive buyer might only offer 50% to 60%.
What is a Troy Ounce compared to a regular ounce?
A regular (Avoirdupois) ounce is 28.35 grams, which is what we use in kitchens and grocery stores. Precious metals are weighed in Troy ounces. One Troy ounce is heavier, weighing exactly 31.103 grams. Our calculator handles this conversion automatically.
Why does my 14K jewelry weigh more than the pure gold inside it?
Pure 24K gold is extremely soft. "14 Karat" means the metal is 14 parts gold and 10 parts alloy metals (like copper or silver) to make it durable for daily wear. Therefore, 14K gold is only 58.3% pure gold by weight.
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