Gold Scrap Value Calculator
Enter the weight and karat of scrap gold or old jewellery to get its melt value, then adjust the payout slider to see what a dealer offering a given percentage of melt would actually hand over. Priced from the live spot snapshot rather than the historical series, since this is a transaction you would do today.
How this is calculated. 22K is 91.67% gold, so 10.00 g of it contains 9.17 g of fine gold. That is priced at the 24K spot rate of $133.94 per gram.
Melt value is the metal content only. It ignores stones, any numismatic or brand premium, and the making charges already paid on the piece, which is why scrapping jewellery usually returns well under what it cost. More on karat pricing.
Melt value is a floor, not a price
The number this calculator produces is what the metal in a piece is worth if it were melted down. That is the right benchmark for genuinely broken or unwearable items, and the right sanity check on any offer you receive. It is the wrong benchmark for a piece someone would want to wear.
Jewellery carries making charges, and those are paid once and rarely recovered. A piece that cost well above its metal content will scrap for its metal content. If the item is intact and saleable, compare a dealer’s scrap offer against what the piece might fetch as jewellery before deciding. The unit converter will price any karat and weight combination, and the gold price by karat table shows the fineness arithmetic in full.
Frequently asked questions
+How much is my scrap gold worth?
Multiply the weight by the karat fineness to get the pure gold content, then multiply that by the current spot price per gram. A 10 gram 22K chain contains 9.167 grams of fine gold, so its melt value is 9.167 times the 24K gram rate. What a dealer pays will be lower, typically 70% to 90% of melt.
+Why does a dealer pay less than the melt value?
Because they have to assay the metal to confirm its purity, refine it, carry the price risk until it is sold, and make a margin. Those costs are real, which is why offers cluster between 70% and 90% of melt. Refiners buying in bulk pay closer to the top of that range than a high-street pawn shop.
+Does the calculator include gemstones or brand value?
No. It prices the gold content only. Stones, designer or numismatic premiums and any collectible value sit on top of melt and have to be valued separately. For a branded or antique piece, melt value is a floor rather than a fair price.
+Should I scrap my gold jewellery?
Often not, if it is wearable or has resale value as a piece. Melt ignores the making charges already paid, which on jewellery can be a substantial share of what it originally cost, so scrapping usually returns well under the purchase price. Selling intact to a private buyer or a second-hand dealer frequently beats scrapping.
+How do I check the karat of a piece I own?
Look for a hallmark or a fineness stamp: 999 for 24K, 916 or 22K, 750 or 18K, 585 or 14K, 417 or 10K. An unmarked piece needs testing, either with an acid test or an XRF scan, both of which most dealers will do free before making an offer.
+What weight unit should I use?
Grams for most jewellery, since that is what dealer scales show. Precious metals are also quoted in troy ounces, which are 31.1034768 grams rather than the 28.35 grams of a standard ounce. Using the wrong ounce overstates the weight by about ten percent.