SamCalculator

Scrap Gold Calculator

Estimate how much your scrap gold is worth based on purity, weight, and dealer payout percentages.

Gold Information

Purity

58.3% pure gold

Pricing Details

$
Currency:
typically 70–90%
% of melt

The price field starts from a default market assumption of $2,500/troy oz. Gold moves constantly — replace it with the current spot price for an accurate estimate.

What Is a Scrap Gold Calculator?

A scrap gold calculator estimates how much money you'll actually receive when you sell unwanted gold — broken chains, single earrings, dental gold, old rings — to a buyer or refiner. It works out the melt value of the pure gold inside your items, then applies a dealer payout percentage to show the realistic offer, so you walk into a sale knowing your numbers instead of guessing.

Scrap gold is priced on content, not appearance. A tangled, dented chain is worth exactly the same as a pristine one of equal weight and karat, because both will be melted down. That is good news for sellers: condition doesn't matter, only weight and purity do. The catch is that buyers pay below the melt value, and the size of that discount is where a careful seller wins or loses.

Compare your scrap estimate against the full suite: gold melt value calculator, gold price calculator and gold value calculator.

How Scrap Gold Value Is Calculated

Step 1 — Find the pure gold content

Weigh the item and apply its karat to get the pure-gold content: a 10 g 14K ring contains 10 × 0.583 = 5.83 g of pure gold. Only this gold content has value to a buyer — the alloy metals and any stones do not.

Step 2 — Calculate the melt value

Multiply the pure-gold content by the current spot price per gram. This is the melt value — the maximum the gold could be worth if refined to bullion. It is your reference ceiling for any offer.

Step 3 — Apply the dealer payout

Buyers pay a percentage of the melt value to cover refining and profit. At an 85% payout, a melt value of $400 becomes a $340 offer. The calculator lets you set this percentage and shows the resulting potential loss versus full melt.

Step 4 — Compare offers

The dealer-offer chart shows what you'd receive at 80%, 85%, 90%, 95% and 100% payouts, so you can instantly see how much an extra five percentage points is worth and judge competing quotes on equal terms.

Three Ways to Use This Calculator

1

Set a walk-away price

Calculate the melt value and decide the lowest payout percentage you'll accept before you visit a buyer. Knowing your floor stops you being talked down on the spot and gives you the confidence to leave a poor offer.

2

Compare competing offers

Convert each quote into a payout percentage of the same melt value. An offer of $300 and an offer of $340 are easy to rank once you see they represent 75% and 85% of melt — the comparison chart makes the gap obvious.

3

Value a mixed lot

Sort items by karat, run each group through the calculator, and add the offers. This avoids the common trap of a buyer pricing your whole lot at the lowest karat present.

Best Practices for Selling Scrap Gold

  • ✓

    Get at least two or three written offers before selling. Competition between buyers is the single most effective way to raise your payout percentage.

  • ✓

    Weigh your gold yourself on an accurate scale beforehand and note the figure. If a buyer's weight is suspiciously low, you'll know immediately.

  • ✓

    Sort items by karat and remove non-gold parts and stones, so each piece is paid at its true purity rather than averaged down.

  • ✓

    Ask the buyer to test and weigh in front of you. Reputable dealers do this openly; anyone who won't is a red flag.

  • ✓

    Sell when the spot price is strong if you can wait. Because payout is a percentage of melt, a higher spot price lifts every offer proportionally.

Why a Realistic Scrap Estimate Matters

The scrap gold market relies on information asymmetry: buyers know the melt value and many sellers don't. That imbalance is exactly how lowball offers succeed. A seller who arrives already knowing that their items melt to, say, $420 can immediately tell whether a $250 offer is fair (it isn't) or whether a $360 offer is worth taking (it might be).

Because the payout is a percentage, small improvements compound. Negotiating from a 75% offer up to 88% on a $500 melt value is $65 in your pocket for a five-minute conversation. Over a drawer full of old jewelry, knowing the melt value and the going payout range can easily mean the difference of a few hundred dollars — which is why running the numbers first is always worth it.

Tricky Cases Worth Understanding

Gold-plated and gold-filled items

Plated and 'gold-filled' pieces contain only a thin layer of gold over a base metal and have little to no scrap value. Don't enter their full weight as solid gold — the result would be wildly overstated. Only solid, hallmarked gold counts.

Dental gold

Dental gold is often around 16K but varies widely and may be alloyed with palladium or platinum. If you're unsure of the karat, use the custom purity field with a conservative estimate, and expect a buyer to test it precisely before offering.

Stones and settings

A gem-set ring's stones and any non-gold settings must be excluded from the gold weight. Buyers either remove stones or deduct an estimated weight, so include only the gold in your own estimate to avoid disappointment.

Very small quantities

Some buyers apply minimum lot fees or lower percentages to tiny amounts because testing and handling costs are fixed. For a single light earring, the payout percentage may be lower than the headline rate advertised for larger lots.

The Core Scrap Gold Formulas

Pure gold content

pure g = weight g × (karat ÷ 24)

14K → ×0.583, 18K → ×0.75

Melt value

melt = pure g × price per g

the value ceiling

Dealer offer

offer = melt × payout %

85% is a common payout

Potential loss

loss = melt − offer

the buyer's margin

Implied payout

payout % = offer ÷ melt × 100

to rank competing quotes

Per-gram offer

per g = purity × price × payout %

useful for quick checks

Common Scrap Gold Mistakes

  1. 1

    Accepting the first offer. The first quote is rarely the best; buyers expect you to shop around and price accordingly.

  2. 2

    Not knowing the melt value beforehand, which leaves you unable to judge whether a payout percentage is generous or exploitative.

  3. 3

    Letting a buyer weigh and price a mixed lot at the lowest karat. Sort first so every piece is paid at its real purity.

  4. 4

    Treating gold-plated or gold-filled items as solid gold — their scrap value is negligible and entering full weight gives a false figure.

  5. 5

    Forgetting that stones and clasps aren't gold. Including their weight inflates your estimate and sets you up for a disappointing offer.

How We Estimate Scrap Gold Value

This calculator computes the melt value from weight × purity × spot price using exact unit conversions and karat ÷ 24 purity factors, then applies your chosen dealer payout percentage to estimate a realistic offer and the loss versus full melt. Payout percentages are illustrative — real offers depend on the buyer, quantity and market. Figures are estimates and not financial advice. Read more about our methods in our editorial policy.

Frequently Asked Questions

Scrap gold is worth its melt value minus the buyer's margin. The melt value is the weight of pure gold it contains multiplied by the current spot price: weight in grams × (karat ÷ 24) × price per gram of pure gold. A buyer then offers a percentage of that melt value — typically 70% to 90% — to cover refining and profit. This calculator shows both the full melt value and the realistic dealer offer at the payout percentage you choose.

Most reputable buyers pay between 80% and 95% of the melt value for clean, sortable scrap, while high-street 'cash for gold' shops and mail-in services often pay 60% to 80%. The exact figure depends on the quantity, how easy it is to test and refine, and competition between buyers. The calculator defaults to 85% but lets you model any payout, and the comparison chart shows offers at 80%, 85%, 90%, 95% and 100% side by side.

Melt value is the theoretical value of the pure gold if it were refined to bullion — it is the ceiling. The dealer offer is what you actually get paid, which is the melt value times the payout percentage. The gap between them is the buyer's cut for testing, refining and profit. Knowing both numbers lets you judge whether an offer is fair: an 85% offer on a clearly stated melt value is reasonable, while a 50% offer is not.

For most people, selling to a buyer is far simpler and more cost-effective than arranging private refining. Refineries usually only deal with larger quantities and charge their own assay and refining fees, so individual sellers rarely come out ahead. The practical goal is to get the highest payout percentage possible from a trustworthy buyer — which is why comparing several written offers against the melt value matters more than chasing the refining route.

Yes, and it makes a real difference. Buyers pay based on the gold content, so a mixed lot is usually valued at the lowest karat present or tested piece-by-piece. Sorting your 9K, 14K, 18K and 22K items into separate groups before weighing ensures each is paid at its correct purity. This calculator values one karat at a time, so run each group separately and add the offers together.

Common methods are acid testing, where a drop of acid reacts differently with each karat, and electronic or XRF (X-ray fluorescence) testing for a more precise reading. Many buyers also rely on hallmark stamps such as 375 (9K), 585 (14K) or 750 (18K). Reputable dealers test in front of you and weigh on a calibrated scale. If a buyer won't show you the test or the weight, treat their offer with caution.

The underlying spot price of pure gold is identical — what differs is the percentage you receive. New jewelry is sold well above melt value because of design and making charges, while scrap is bought below melt value because the buyer must refine it. So the same 18K gram is 'priced' very differently depending on whether you are buying a finished piece or selling it for scrap. The metal itself is worth the same melt value in both cases.

Only the gold counts. Gemstones, clasps made of other metals, and non-gold backings should be excluded from the weight, because buyers pay for gold content alone. Many buyers will deduct an estimated stone weight or remove stones before weighing. For your own estimate, weigh the item, subtract a reasonable allowance for stones and fittings, and enter only the gold weight into the calculator.

Mail-in and 'we buy gold' services carry higher overheads — marketing, postage, insurance and the risk of disputes — and they count on customers not knowing the melt value. Their payout percentages are often well below local dealers who can test and pay on the spot. Calculating the melt value first, then comparing it to any mail-in offer, instantly reveals how large their margin is and whether it is worth accepting.

The melt-value maths is exact for the weight, purity and price you enter. The dealer offer is an estimate because real payout percentages vary by buyer, quantity and day. Use the calculator to establish the melt value confidently, then treat the payout slider as a way to model different offers. Always confirm the actual purity and weight with the buyer, since those two inputs drive the result more than anything else.

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