Scrap Gold Value Calculator
Current gold spot price: Unavailable
Scrap Gold Value Calculator
Common Scrap Gold Items
| Item | Karat | Typical Weight | Scrap Value |
|---|---|---|---|
| Class Ring | 14K | 8g | — |
| Necklace Chain | 14K | 15g | — |
| Dental Crown | 16K | 3g | — |
| Gold Watch Case | 10K | 20g | — |
| Bracelet | 18K | 12g | — |
How Scrap Gold Buying Works
When you sell scrap gold, buyers and refiners evaluate your items based on their karat (purity), weight, and the current gold spot price. The karat stamp on your jewelry indicates the gold content: 24K is pure gold, 14K is 58.3% gold, and 10K is 41.7% gold.
Scrap Value = Weight (troy oz) × Purity (karat/24) × Spot Price
Refiners typically offer payouts based on recovery rates of 90–98% of the calculated melt value. The exact percentage depends on the volume you are selling, the refiner’s fees, and current market conditions. Larger lots generally command higher payout percentages.
For example, a 14K class ring weighing 8 grams contains about 0.1500 troy ounces of pure gold. At current spot per troy ounce, its melt value is approximately calculated above. A refiner paying 95% would offer around 95% of that value.
Frequently Asked Questions About Scrap Gold
How much is my scrap gold worth?
Your scrap gold’s value depends on its weight, karat (purity), and the current spot price. Multiply the weight in troy ounces by the karat fraction (e.g., 14K = 58.3%) and then by the spot price to get the melt value. Buyers typically pay 85–95% of that calculated melt value.
What do gold buyers pay for scrap?
Most gold buyers and refiners pay between 85% and 97% of the melt value, depending on the quantity and purity of the gold. Larger lots and higher-karat items generally command higher payout percentages. Always get multiple quotes before selling.
Where can I sell scrap gold?
You can sell scrap gold to online refiners, local gold buyers, pawn shops, or jewelry stores that purchase scrap. Online refiners often pay the highest percentages because they have lower overhead. Local buyers offer the convenience of immediate payment.
How is scrap gold tested for purity?
Scrap gold is tested using acid scratch tests, electronic gold testers, or X-ray fluorescence (XRF) analyzers. The acid test involves rubbing the gold on a touchstone and applying nitric acid to observe the reaction. XRF analysis is the most accurate non-destructive method used by professional refiners.
What is a gold acid test?
A gold acid test uses nitric acid and aqua regia to determine karat purity. The gold item is rubbed on a dark touchstone, and different acid solutions are applied to the streak mark. The reaction (or lack thereof) indicates whether the gold is 10K, 14K, 18K, or higher.
Do pawn shops pay fair prices for scrap gold?
Pawn shops typically pay 50–80% of melt value for scrap gold, which is lower than dedicated refiners who pay 85–97%. Pawn shops have higher overhead and need larger margins. For the best price, compare pawn shop offers with quotes from online gold refiners.