Scrap Gold Calculator
Enter the weight of your gold, its karat, and the current gold spot price per troy ounce. The calculator returns the melt value and the pure gold content. Look up today's spot price, as it changes constantly.
How to calculate scrap gold
Scrap gold is valued by its pure gold content, not its total weight, because alloys mix gold with other metals. Karat tells you the purity: 24k is pure, 14k is 14/24 = 58.5% gold. Multiply the weight by the purity to get the grams of pure gold, convert grams to troy ounces (divide by 31.1035), then multiply by the current spot price per ounce. The result is the melt value; a buyer will usually pay somewhat less to cover their refining and profit.
Purity = karat / 24; pure grams = weight(g) x purity; value = (pure grams / 31.1035) x spot price per troy oz
Worked example
You have 10 grams of 14k gold and the spot price is $2,400 per troy ounce.
- Purity: 14 / 24 = 0.585
- Pure gold: 10 g x 0.585 = 5.85 g
- In troy ounces: 5.85 / 31.1035 = 0.188 oz
- Melt value: 0.188 x $2,400 = about $451
Result: The 10 g of 14k gold holds about $451 of pure gold at that spot price.
Frequently asked questions
How is scrap gold value calculated?
Multiply the weight by the gold purity (karat / 24) to find the pure gold content, convert to troy ounces, then multiply by the current spot price. Only the pure gold counts, so 10 g of 14k gold contains 5.85 g of gold, not 10 g.
Will a buyer pay the full melt value?
Usually not. The melt value is what the pure gold is worth at spot. Buyers and refiners pay a percentage of that, often 70% to 90% for scrap, to cover refining costs and profit. Getting quotes from several buyers helps you find the best percentage.
What do the karat numbers mean?
Karat measures purity out of 24. 24k is pure gold, 18k is 75%, 14k is 58.5%, and 10k is 41.7%. The higher the karat, the more gold and the higher the value per gram. Jewelry is usually stamped with its karat.
Why does the spot price matter so much?
Gold trades on global markets and its price moves every day, so the same item is worth more or less depending on the day's spot price. Always enter the current spot price (widely published online) rather than an old figure for an accurate estimate.