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Scrap Gold Calculator — Melt Value by Karat & Weight

Calculate scrap gold melt value from karat, weight, and spot price. Supports grams, pennyweight, troy oz, and estimated dealer payout percentage.

Updated

Enter today's spot price — check kitco.com or your local dealer for the current rate.

Dealers typically pay 60–90% of melt value to cover refining, assaying, and overhead.

Melt Value (100% of gold content)
$243.81
Estimated Dealer Payout
$195.05

Melt value = weight (converted to grams) × purity × (spot price ÷ 31.1035 g per troy oz). Spot price fluctuates constantly — always enter today's rate rather than relying on a saved figure. Dealer payout is an estimate only; actual offers vary by buyer, item condition, gemstones or other non-metal content (not counted here), and local market competition. Get multiple quotes before selling.
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Reference Values

Last verified:
Category Range What It Means Status
24K (Fine Gold) ★ 99.9% pure Purest common form. Too soft for most jewelry; used mainly in bars, coins, and some Asian jewelry markets. ★ Best
22K 91.7% pure Common in Middle Eastern and South Asian jewelry markets. Good
18K 75.0% pure Common in fine Western jewelry — good balance of purity and durability. Good
14K 58.3% pure Most common karat for everyday US jewelry — durable and less expensive than higher karats. Okay
10K 41.7% pure Minimum karat legally sellable as 'gold' in the US. Most durable, least gold content per gram. Okay

Source: Standard karat-to-purity conversion (karat ÷ 24); typical dealer payout ranges 60–90% of melt value based on industry buyer-margin reporting

Worked Examples

14K Ring, 5 grams, Gold Spot $2,600/oz

Karat
14K
Weight
5 g
Spot Price
$2,600/troy oz
Melt value: $243.81 · Est. dealer payout (80%): $195.05

5g × (14÷24) × ($2,600 ÷ 31.1035g) = $243.81 melt value. Most dealers pay 60–90% of melt value after refining costs — 80% is a reasonable mid-range estimate.

24K Gold Bar, 10 grams, Gold Spot $2,600/oz

Karat
24K
Weight
10 g
Spot Price
$2,600/troy oz
Melt value: $835.92 · Est. dealer payout (80%): $668.74

10g × (24÷24) × ($2,600 ÷ 31.1035g) = $835.92. Pure gold bars typically get a higher payout percentage than jewelry since no refining is needed to reach fine gold.

10K Chain, 8 grams, Gold Spot $2,600/oz

Karat
10K
Weight
8 g
Spot Price
$2,600/troy oz
Melt value: $278.64 · Est. dealer payout (80%): $222.91

8g × (10÷24) × ($2,600 ÷ 31.1035g) = $278.64. 10K jewelry contains less than half pure gold by weight, so melt value is proportionally lower than higher-karat pieces of the same total weight.

How to Use This Calculator

  1. 1

    Select Gold and choose the karat

    Pick the karat stamped on your item (10K, 14K, 18K, 22K, or 24K).

  2. 2

    Enter weight and unit

    Enter the weight in grams, pennyweight, troy ounces, or grains — whatever your scale reads in.

  3. 3

    Enter today's gold spot price

    Check a live source like Kitco for the current spot price per troy ounce — this changes throughout each trading day.

  4. 4

    Optionally set an estimated dealer payout percentage

    Default is 80%, within the typical 60–90% range dealers pay relative to melt value. Adjust based on quotes you've actually received.

What Each Value Means

Melt Value ($)
The value of an item's pure gold content at current spot price, calculated as weight × purity × price per gram — assumes 100% recovery with no refining costs or dealer margin.
Karat Purity (karat (K))
Gold purity on a 24-point scale where 24K represents 99.9% pure gold. Purity fraction = karat ÷ 24. Common jewelry karats are 10K (41.7%), 14K (58.3%), 18K (75.0%), 22K (91.7%), and 24K (99.9%).
Dealer Payout ($)
The estimated cash amount a buyer would actually pay, typically 60–90% of melt value after accounting for refining costs, assaying, and business margin.

Related Calculators

Frequently Asked Questions

How do you calculate scrap gold value?
Melt value = Weight (in grams) × Purity (karat ÷ 24) × (Spot Price per troy oz ÷ 31.1035 grams per troy oz). For example, a 5-gram 14K ring at a gold spot price of $2,600/oz: 5 × (14 ÷ 24) × (2,600 ÷ 31.1035) = $243.81 melt value.
What's the difference between melt value and what a dealer will actually pay?
Melt value is the theoretical worth of the pure gold content at the current spot price — it assumes the gold could be refined and sold at 100% of spot with no costs. Dealers typically pay 60–90% of melt value because they need to cover refining, assaying, shipping, insurance, and their own margin. A dealer offering close to melt value on unrefined jewelry scrap is unusually generous; getting multiple quotes is the best way to find a fair offer.
How do I know my gold's karat?
Check for a stamp on the piece — common US markings are 10K, 14K, 18K, or 24K (sometimes shown as .417, .585, .750, or .999 fineness). If there's no visible stamp, a jeweler can test purity with an acid test or electronic tester. Never assume karat from color or feel alone — gold-plated and gold-filled items look similar to solid gold but contain far less actual gold content.
What is pennyweight and why is it used for gold?
Pennyweight (dwt) is a traditional jewelry-trade weight unit equal to 1.555 grams, historically used because jewelry scales were often calibrated in dwt rather than grams. Many US jewelers and pawn shops still weigh gold in pennyweight. This calculator supports grams, pennyweight, troy ounces, and grains so you can match whatever unit your scale or dealer uses.
Does the calculator account for gemstones or other non-gold materials?
No — this calculator values only the gold content by weight and purity. Diamonds, other gemstones, and non-gold metal components (like a watch's movement or a ring's stone setting) have separate value that isn't captured in a melt-value calculation. For pieces with meaningful gemstone value, get a separate appraisal rather than relying on scrap value alone.

References & Sources

  1. [1]
    FTC Consumer Advice — Buying Platinum, Gold, and Silver Jewelry (opens in new tab)

    Supports: Evidence used for how to sell scrap gold for the best price, including related formulas, definitions, or reference values.

    Verified

  2. [2]
    Federal Register — FTC Guides for the Jewelry, Precious Metals, and Pewter Industries (opens in new tab)

    Supports: Evidence used for common mistakes when selling scrap gold, including related formulas, definitions, or reference values.

    Verified

  3. [3]
    APMEX Learning Center — What Is Fine Gold? (opens in new tab)

    Supports: Evidence used for gold karat purity glossary: 24k, 22k, 18k, 14k & 10k explained, including related formulas, definitions, or reference values.

    Verified

  4. [4]
    LBMA — About Good Delivery (gold bar fineness standards) (opens in new tab)

    Supports: Evidence used for gold karat purity glossary: 24k, 22k, 18k, 14k & 10k explained, including related formulas, definitions, or reference values.

    Verified