From inherited jewelry to broken chains found at the bottom of a drawer, many people possess gold items that are no longer wearable but still hold intrinsic value. Scrap gold buyers purchase such items based on the melt value of their gold content, which is determined by weight, purity, and the current market price of gold. This calculator empowers sellers to estimate that value before visiting a jeweler or refinery. By entering the weight of the item, selecting the unit of measurement, specifying its karat purity, and providing the latest gold price per troy ounce, users obtain an instant estimate of the metal’s worth. The calculation is entirely client-side and does not transmit any data, allowing repeated use as gold prices fluctuate.
Gold purity is typically expressed in karats, a scale that ranges from 24 karat (pure gold) down to 10 karat (approximately 41.7% gold). Most jewelry falls between 10k and 18k. Because lower karat alloys contain non‑gold metals such as copper or silver, only a portion of the item contributes to the melt value. The formula for converting karats to a purity fraction is:
where K is the karat rating and p is the resulting purity expressed as a decimal. For example, 14k jewelry has a purity fraction of 14/24 = 0.5833. Once the purity is known, the next step is to determine the value of a single gram of pure gold. Because commodity markets quote gold in troy ounces, we divide the price per ounce by 31.1035 grams—the number of grams in one troy ounce—to obtain a per‑gram price. Combining these elements yields the melt value:
In this expression, V is the melt value in dollars, W is the weight of the item in grams, Po is the market price per troy ounce, and K is the karat. If the weight is provided in troy ounces, the calculator converts it to grams automatically to maintain consistency. The result represents the value of the pure gold content; commercial buyers may offer a percentage of this figure to cover refining costs and profit margins.
The table below demonstrates how different combinations of weight, purity, and market price influence melt value. Assuming a gold price of $2,000 per ounce, a 10‑gram piece of 14k gold would yield roughly $374 in pure metal value, while the same weight in 18k gold would bring about $540. Such comparisons help sellers understand why a heavier but lower karat item might be worth less than a lighter, higher karat piece.
| Weight (g) | Karat | Price/oz ($) | Melt Value ($) |
|---|---|---|---|
| 10 | 14k | 2,000 | 374 |
| 10 | 18k | 2,000 | 540 |
| 20 | 10k | 1,800 | 482 |
Authentic gold jewelry is often stamped with tiny markings that indicate purity. Common marks include “10K”, “14K”, “18K”, and “24K”. In Europe, purity may be shown as a three-digit number representing parts per thousand, such as “585” for 14k or “750” for 18k. When such marks are missing or suspect, a jeweler can perform an acid test or X‑ray fluorescence scan to determine composition. The calculator assumes the entered karat rating is accurate; if the purity is unknown, the resulting value could be significantly off. For mixed lots of jewelry, weighing and calculating each piece separately yields the most precise valuation.
Gold’s market price fluctuates throughout the trading day based on global supply and demand. Prices rise during times of economic uncertainty as investors seek safe-haven assets, and they can fall when interest rates climb or the dollar strengthens. The calculator requires the user to enter a current price, which can be obtained from financial news sites or commodities exchanges. Because buyers adjust their offers as prices move, checking the market before visiting a dealer ensures the estimate remains accurate. Some dealers base their payouts on the London Fix or the COMEX spot price, while others may lock in a price when you agree to sell.
While the melt value represents the theoretical maximum a seller could receive, actual offers are typically lower. Buyers must cover refining fees, overhead, and profit. Typical payout rates range from 70% to 90% of melt value, though reputable dealers often provide detailed breakdowns of their calculations. By comparing offers from multiple buyers, sellers can secure a better deal. The calculator’s estimate gives a baseline for negotiation, helping to identify lowball offers. If a buyer quotes a price far below the calculated melt value, it may be worth seeking alternative options or selling directly to a refinery.
In many jurisdictions, dealers purchasing scrap gold must follow identification and reporting regulations to deter theft and money laundering. Sellers should be prepared to show identification and may need to sign a statement confirming ownership. Additionally, it is important to consider the sentimental value of heirloom pieces. Once melted, the original form is gone forever. The calculator aids in making informed decisions by quantifying the monetary value, but the emotional worth of a family heirloom might exceed any payout. Some individuals choose to have pieces redesigned rather than scrapped.
This calculator focuses solely on the intrinsic metal value and does not account for collectible or numismatic premiums that certain coins or vintage jewelry may command. Items with historical significance or craftsmanship can fetch prices far above melt value. Conversely, heavily worn or damaged pieces might yield slightly less than the calculation suggests due to refining losses. Users should treat the result as an estimate and consult professionals for definitive appraisals.
Scrap gold valuation need not be a mystery. By understanding the relationships between weight, purity, and market price, anyone can approximate the worth of old jewelry or bullion. This calculator distills those relationships into an easy workflow: weigh the item, identify its karat, look up the current gold price, and let the script handle the arithmetic. Armed with this knowledge, sellers can approach gold buyers with confidence, ensuring they receive a fair price for their unwanted items. As market conditions change, simply adjust the input price to see how the melt value responds, empowering ongoing decision‑making.
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