Scrap Gold Calculator
Find out what your old jewelry, broken chains, dental gold, or scrap pieces are really worth. Compare what a pawn shop will pay versus an online refiner — based on live spot price.
Your Scrap Items
How dealers calculate scrap gold value
Scrap gold value is calculated from three numbers: the gold’s weight, its purity (karat), and the current spot price of gold per troy ounce. The formula is straightforward:
Melt Value = Weight (oz) × Purity (%) × Spot Price
A 14K gold ring weighing 10 grams contains 58.5% pure gold (14K = 14/24 = 0.585). At a gold spot price of $4,648 per troy ounce, that ring’s pure melt value is:
- 10 g × 0.0322 (g to troy oz) = 0.3215 troy oz total weight
- 0.3215 oz × 0.585 purity = 0.188 troy oz of pure gold
- 0.188 oz × $4,648 = $873.82 pure melt value
That $886.50 is the theoretical maximum. You will never get full melt value from any buyer — they need to make a margin to cover refining costs, overhead, and profit.
Karat purity reference
- 24K = 99.9% pure gold (pure gold, rarely used in jewelry)
- 22K = 91.7% pure (common in Indian/Asian jewelry)
- 18K = 75.0% pure (high-end Western jewelry)
- 14K = 58.5% pure (most US/Canadian jewelry)
- 10K = 41.7% pure (entry-level US jewelry, class rings)
- 9K = 37.5% pure (common UK/Australia)
Why pawn shops pay less
Pawn shops and local cash-for-gold storefronts typically pay 50–70% of melt value. Online refiners like APMEX, JM Bullion, Kitco, or specialized scrap refiners pay 80–90%. The gap exists for real reasons:
- Pawn shops have higher overhead per ounce. They process small volumes, pay rent on physical storefronts, and need to cover the risk of holding inventory.
- Refiners process at industrial scale. A refinery handling 10,000 oz/month has economies of scale that no corner shop can match.
- Pawn shops bet on your urgency. If you need cash today, you’ll accept less. Refiners bet on volume from people willing to ship and wait 5–10 days.
- Refining costs are real. Mixed-karat scrap needs to be melted, assayed, and refined back to .999 purity — that costs $50–$150 per batch.
Tips before you sell your scrap gold
- Weigh it accurately. Use a digital scale that measures to 0.01 grams. Kitchen scales aren’t precise enough — the difference between 9.8g and 10.2g is real money.
- Know your karat. Look for hallmarks: 10K, 14K, 18K, 22K, 24K, or numbers like 417, 585, 750, 916, 999. No hallmark? Most buyers will test it with an acid kit or XRF gun.
- Separate by karat. Don’t lump 10K with 18K. Dealers will pay you the lowest-karat rate for the whole pile if they can.
- Get multiple quotes. Walk into three pawn shops, get three numbers. Then check one or two online refiners. The spread will surprise you.
- Skip “we buy gold” mailer envelopes. These offer the worst rates in the industry — often 30–40% of melt. Better to ship to a known refiner.
- Check the dealer’s reputation. Look up online refiners on BBB, Trustpilot, and Reddit before shipping anything. Scams exist in this space.
- Time it to spot price. Gold prices move daily. If you’re not in a rush, watch the spot for a week and sell on a peak day.
Frequently asked questions
How much will I get for scrap gold per gram?
It depends on karat and spot price. At today’s gold price, 14K scrap pays roughly $70–$90 per gram from an online refiner, or $55–$75 per gram from a pawn shop. Use the calculator above for your exact weight.
Is gold-plated jewelry worth anything?
Almost nothing. Gold plating is typically less than 0.5 microns thick — the cost to recover it exceeds the gold value. Only solid gold (10K and up) has scrap value. Gold-filled (1/20 12K GF) has marginal value at high volumes only.
Should I sell to a pawn shop or online refiner?
For small amounts (under $500 total value), pawn shops are convenient and the payout gap isn’t huge. For anything over $1,000, online refiners almost always pay better — the 15–20% difference is real money.
What’s the difference between karat and carat?
Karat (K) measures gold purity out of 24. Carat (ct) measures gemstone weight. They’re easy to confuse but completely different. This calculator uses karat for gold purity.
How do I know my gold’s karat without a hallmark?
Buy an acid test kit ($15–$25 on Amazon) — it gives reliable results for 10K, 14K, 18K, and 22K. For higher confidence, any jeweler or pawn shop will test it for free with an XRF analyzer.
Are dealer payout percentages negotiable?
Yes, especially at pawn shops. Walk in with a printed quote from a competitor and most shops will match or beat it. Online refiners are usually fixed-rate, but some negotiate for orders over $5,000.