Scrap gold is bought for the metal, not the design, so its value comes down to three numbers: how much it weighs, how pure it is, and today’s gold price. Buyers then pay some fraction of that melt value. Knowing the melt value before you walk in is the difference between a fair deal and a 40% offer.
How it is calculated
- Convert the weight to grams. Jewelers often weigh in pennyweight (1 dwt = 1.555 g) and bullion in troy ounces (31.103 g, not the 28.35 g avoirdupois ounce on a kitchen scale).
- Pure gold content = weight × purity. Karat is parts out of 24: 14K is 14/24 = 58.33% gold, 18K is 75%, 24K is 99.9%. The calculator uses the stamped figures (585 for 14K, 417 for 10K): the stamp is a minimum, and it is what buyers test against.
- Spot price per gram = price per troy ounce ÷ 31.103.
- Melt value = pure gold grams × spot per gram.
- Expected offer = melt value × the buyer’s payout percentage.
Example
A 20 g 14K bracelet at a spot price of $3,300 per ounce: 20 × 0.585 = 11.7 g of pure gold. Spot per gram is $106.10, so the melt value is $1,241. A buyer paying 75% should offer about $931; a pawn shop at 50% would offer $620 for the same piece.
What lowers the value
Stones, clasps and steel springs are removed or discounted. Gold-plated and gold-filled items (marked GP, GF, HGE, 1/20 12K) contain a thin layer and are worth almost nothing as scrap. Hallmarks can be wrong; serious buyers test with acid or an XRF gun, and their reading, not the stamp, sets the price.
Getting a fair price
Weigh items yourself on a 0.1 g scale, sort by karat, look up the spot price the same day, and get at least three quotes. Ask each buyer for their price per gram at your karat; that makes offers directly comparable. For large amounts, refiners pay the most but have minimums.
Frequently asked questions
How much is 14K gold worth per gram?
Spot price per troy ounce ÷ 31.103 × 0.585. At $3,300 an ounce that is about $62 per gram of 14K melt value; buyers pay a percentage of that.
What percentage of melt value do gold buyers pay?
There is no published tariff; as a rough estimate, pawn shops and kiosks often pay 40–60%, local jewelers 60–80%, online buyers 75–90%, refiners 90–97% for larger lots. Always compare the price per gram.
How do I find the gold spot price?
Search "gold spot price"; it is quoted in US dollars per troy ounce and updates through the trading day. Enter that number in the calculator.
Is gold-plated jewelry worth anything as scrap?
Almost nothing. Plating is microns thick. Marks like GP, GF, HGE or 1/20 12K mean plated or filled. Only solid karat gold has scrap value.
Should I sell gold jewelry as scrap or as jewelry?
Designer pieces, antiques and items with good stones are often worth more sold as jewelry. Broken chains, single earrings and dated pieces are usually worth more as scrap.
Read more
- 10K vs 14K vs 18K gold: how much is each worth?10K is 41.7% gold, 14K is 58.5% and 18K is 75%. What that means in dollars per gram, what a buyer will actually pay for each, and why the price gap in a jewelry shop is far bigger than the gold behind it.
Sources
- Gold API: live gold and silver spot prices — filled in automatically when the page opens
- Kitco: live gold spot price — for today’s spot price
- LBMA: Gold price and troy ounce definition
- FTC Jewelry Guides, 16 CFR Part 23: karat fineness and quality marks
By Calcelate Team. Formula from the sources above.
- 2026-09-27 · Formula and texts checked