How this scrap gold calculator works
A scrap gold price calculator estimates the value of the gold content in unwanted jewelry, broken chains and other eligible gold pieces. This tool starts with the weight of the metal, adjusts it for karat or assay purity, and multiplies the fine-gold weight by your entered pure-gold price. It then applies a buyer payout percentage and a fixed fee to estimate the cash you could receive.
The existing Gold Value Calculator focuses on metal content. This page adds the offer calculation so you can compare theoretical melt value with buyer terms. Neither tool identifies a metal, verifies a hallmark or supplies a binding purchase offer. Remove stones and other non-gold materials from the measured weight, or obtain an assessed metal-only weight.
How to calculate scrap gold price
- Enter the metal-only weight and select the correct unit.
- Choose the karat, or select Custom assay and enter a gold percentage.
- Enter the price of pure gold per gram or per troy ounce, using one currency throughout.
- Enter the buyer's percentage of melt value and the total fixed fee for the lot.
- Select Calculate scrap gold. Review the net payout, melt value, diagram and six calculation steps.
Changing a weight or price unit converts an existing numeric entry. Changing the currency changes the label only; it does not perform foreign exchange. Editing any input clears the previous result. Load worked example fills the inputs without calculating; Reset returns to empty weight and price, 100% payout and zero fee.
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For optional measurement supplies, jewelry scales (paid link) can help record weight, jewelers’ loupes (paid link) can help read a hallmark, and small-parts organizers (paid link) can keep different lots separate. A scale or loupe does not verify gold purity. Check device specifications and seek an appropriate assay when needed; no purchase is required to use this tool.
Scrap gold value and payout formulas
Melt value = fine gold (g) × pure-gold price per gram
Gross offer = melt value × buyer payout percentage ÷ 100
Net payout = max(0, gross offer − fixed fee)
For nominal karat purity, the fraction is karat ÷ 24. For a custom assay, it is the entered percentage ÷ 100. For example, 18K is modeled as 18 ÷ 24 = 75%; choose custom assay for a measured percentage such as 74.8%. A nominal 24K selection uses 100%, while a 999 or 999.9 fineness can be entered as 99.9% or 99.99%.
One troy ounce is 31.1034768 g. One ordinary avoirdupois ounce is 28.349523125 g, one pennyweight is 1.55517384 g, and one kilogram is 1,000 g. A price per troy ounce is divided by 31.1034768 to find the gold price per gram. Do not confuse ordinary ounces with precious-metal market ounces.
Worked scrap gold calc example
Suppose a metal-only lot weighs 10 g and is nominally 18K. Use a hypothetical pure-gold price of USD 100 per gram, a buyer percentage of 90%, and a USD 5 fee. This is an arithmetic example, not a statement of the gold price today.
- Fine-gold weight: 10 × 18 ÷ 24 = 7.5 g.
- Melt value: 7.5 × 100 = USD 750.
- Gross offer: 750 × 90% = USD 675.
- Estimated net payout: 675 − 5 = USD 670.
The diagram separates USD 670 net payout, USD 5 in fees, and USD 75 of buyer discount from melt value. These amounts sum to USD 750. Each bar uses the same scale, so the chart does not accidentally add the total to its own components.
Gold price, gold scrap price and current quotes
The price of gold quoted by a market source usually refers to a stated amount of fine gold. Your gold scrap price depends on the amount of fine gold in your item and the buyer's commercial terms. A 50% gold item does not have the same melt value per gram as pure gold at the same weight. Enter a pure-gold quote, then let this gold price calculator apply purity once.
If you search for “Kitco gold,” “Kitco,” or “Scrap It” when checking quotes, confirm the metal, currency, timestamp and quote unit before copying a number. This independent gold calc does not import those services or claim an affiliation. A quote can change before a buyer completes an assay and makes an offer. There is no automatic gold price today feed on this page.
Ask whether the buyer's stated percentage already includes refining charges, then enter any separately disclosed fixed fee once. If you compare two buyers, use the same weight, purity and price assumptions for both calculations. A higher payout percentage may still produce a lower net amount if its fee is larger.
Gold versus silver scrap calculations
A silver calculator uses silver fineness and a silver price, whereas this page uses gold purity and a gold price. Searches such as “silver scrap calculator” and “scrap silver calculator” describe a different metal calculation. A sterling scrap calculator commonly concerns a stated silver alloy; it cannot be reproduced by entering that alloy into a gold form.
Likewise, a silver price today quote is not a substitute for the gold quote required here. Silver price information may be useful for a separate silver lot, but it does not tell this calculator how much silver, if any, an alloy contains. This gold-only tool assigns no extra value to the other metals in the lot.
Assumptions and limitations
The calculation assumes a uniform gold fraction in the metal-only weight entered. Plated, gold-filled, hollow, mixed-karat or stone-set pieces may need separate testing or separation. A hallmark is not an assay, and total jewelry weight is not necessarily gold-alloy weight. This tool does not calculate collectible, designer, gemstone or resale value.
Buyer deductions are modeled as one percentage and one fixed lot fee. Taxes, shipping, minimum lot sizes, refining yields and other terms are excluded unless you incorporate applicable fixed costs into the fee. Cash payout is floored at zero; it does not model a debt when fees exceed the offer. A zero buyer percentage is valid. Weight, price and assay must be positive; fees must be nonnegative and the buyer percentage must be between 0 and 100.
Money is displayed to two decimal places. Internal values remain unrounded until display, so adding rounded figures may differ by a minor currency unit. Measurement precision and the accuracy of your price and purity assumptions determine how useful the estimate is. Computation runs in your browser without an API; the site's separate advertising and analytics are described in the Privacy Policy.
Scrap gold calculator FAQs
Does this show the gold price today?
No. Enter a current pure-gold price from a source you trust. The calculator does not download prices, predict markets or refresh quotes.
Is scrap gold price the same as melt value?
Melt value is a theoretical metal-content calculation. A scrap buyer may pay a percentage of that amount and deduct disclosed fees.
Can I use a 14K price as the input gold price?
No. Enter the price of pure gold. The calculator applies the selected karat or assay percentage once. A price already adjusted for 14K would apply purity twice.
Is this a silver scrap calculator?
No. A scrap silver calculator or sterling scrap calculator needs a silver price and silver fineness. Do not enter silver items here.
Can a hallmark prove the gold purity?
No. Karat markings provide an input assumption; counterfeit marks, plating, solder and mixed materials can affect actual metal content. An appropriate assay is needed to establish purity.
Is this the Kitco Scrap It tool?
No. This is an independent calculator, with no Kitco affiliation, price feed or automatic quote import.
What happens if fees exceed the offer?
Estimated cash payout is zero. The diagram deducts only the part of the fee covered by the gross offer; it does not model an additional debt.
Sources and methodology
The unit and purity conventions come from these primary references. Buyer payout and fee calculations are the transparent arithmetic model shown above, not a universal dealer pricing policy.