Scrap Gold Value

Your scrap gold is worth its pure gold content at the spot price, minus the buyer's cut. To find it, take the weight in grams, multiply by the karat purity (14k is 14/24, or 58.3%), and multiply by the gold price per gram. That figure is the melt value; a buyer will offer some percentage of it. The free gold calculator does this instantly, but here is the math so you can check any offer yourself.

The karat math, step by step

Gold purity is measured in karats out of 24. Pure gold is 24k; the rest is alloy metals that add strength and color. So the fraction of real gold in an item is simply its karat divided by 24. Here is the full calculation:

• Step 1 - weigh it. Use a gram scale. Separate items by karat, because you cannot mix a 14k chain and an 18k ring in one number.
• Step 2 - find the pure gold mass. Multiply grams by karat ÷ 24. This strips out the alloy and leaves only the gold.
• Step 3 - convert spot to a per-gram price. Gold spot is quoted per troy ounce, which is 31.1034768 grams, so divide the spot price by 31.1034768.
• Step 4 - multiply. Pure gold mass × price per gram = melt value.

A worked example: a 20-gram 14k chain

Say you have a 14k gold chain weighing 20 grams. Using the fixed 2026-07-22 snapshot gold price of $4,136.30 per troy ounce:

So the chain holds about $1,551.49 of gold at the snapshot price. Written as one line: 20 × (14 ÷ 24) × ($4,136.30 ÷ 31.1034768) = $1,551.49. Because gold moves all day, run it against the live price on the calculator before you act; the snapshot here is only for showing the arithmetic.

Why buyers pay 60-90% of melt

Melt value is what the pure gold is worth in bulk, not what a buyer hands you. A scrap buyer or refiner has to test purity, melt and refine the metal, carry the price risk until they sell, and still make a profit. So offers typically land at 60% to 90% of melt, with high-volume refiners and better-known buyers usually paying nearer the top of that range and pop-up or mail-in buyers often nearer the bottom. On our example chain, that spread is roughly $1,086 to $1,319. It pays to get more than one quote.

Hallmarks: reading the stamp

Jewelry is usually stamped with its purity, either in karats or as a three-digit European fineness that is just the gold fraction times 1000. Knowing both lets you translate any stamp into the karat you need for the math:

A stamp is a claim, not a guarantee. Reputable buyers test the metal with acid or an electronic tester before paying, and so can you if the value is high.

What to check before you sell

• Sort by karat. Never let a buyer weigh mixed karats together and pay you at the lowest rate.
• Watch for non-gold parts. Clasps, spring bars, and gemstones are not gold and should not be paid for as gold, but their weight can inflate a lazy estimate. Ask how they are handled.
• Know the live spot. Walk in with today's number so you can judge the offer as a percentage of melt.
• Get multiple quotes. The gap between the best and worst offer on the same lot is often large.
• Gold-filled and plated is not solid gold. Stamps like "GF", "RGP", or "1/20 12k GF" mean a thin layer over base metal, worth far less than solid karat gold.

More guides

• Gold price today and the karat purity table
• Junk silver melt value: US 90% coins explained
• Silver price today and the gold-to-silver ratio
• Precious metal prices FAQ

This guide is general information, not financial advice. Gold prices move constantly and dealer offers vary. Confirm a live quote before you sell.