Scrap Gold Calculator: Get Your Instant Payout Value
✍ Written & fact-checked by Dr. Irfan Mansuri | Last Updated: August 2026
You have a gold ring, a broken chain, or a handful of old jewelry. You want to know what it is actually worth before you walk into a dealer’s shop. This page gives you that number in under two minutes — and then explains every step so no one can shortchange you.
The scrap gold value formula is: Melt Value = Weight (g) × Purity Fraction × Spot Price ($/g). Purity fraction equals karat ÷ 24. Dealers then pay 70–85% of that melt value. This calculator handles all three steps instantly.
To calculate scrap gold value, multiply the weight in grams by the gold’s purity fraction (karat ÷ 24), then multiply by the current spot price per gram. For example, 10 grams of 18K gold at $60/g = 10 × 0.75 × $60 = $450 melt value. Dealers typically pay 70–85% of melt value, so expect $315–$382 in hand.
Scrap Gold Calculator
Melt value + estimated dealer payout — instant results
grams (g)
Select your karat stamp
USD per gram
% of melt value (typical: 70–85%)
How to use this calculator
- Enter weight in grams. Weigh your gold on a digital scale. If your scale reads in troy ounces, multiply by 31.1035 to convert to grams first.
- Select the karat. Look for a stamp on the piece: 18K, 14K, 10K, 750, 585, or 417 are the most common. The number after “K” is the karat; hallmarks like 750 mean 75.0% pure (= 18K).
- Enter the spot price per gram. Check a live source such as Kitco or the LBMA fix. Spot prices are quoted per troy ounce — divide by 31.1035 to get the per-gram price.
- Set the buyback rate. The default is 80%. Adjust it to match the offer you received or the type of buyer you plan to use.
- Click Calculate. The result card shows your melt value, estimated payout, and a numbered step-by-step breakdown.
What is scrap gold value?
Scrap gold value is the monetary worth of gold based purely on its metal content, not its craftsmanship or brand. Any gold item — a broken ring, a dental crown, an old coin — has a scrap value equal to the weight of pure gold it contains multiplied by the current market price.
The melt value is the theoretical maximum: what you would get if you melted the piece and sold the pure gold at spot price. Dealers pay less than melt value because they need a margin to cover refining, assaying, and business costs.
The formula explained
Melt Value ($) = Weight (g) × (Karat ÷ 24) × Spot Price ($/g) Dealer Payout ($) = Melt Value × (Buyback Rate ÷ 100)
| Symbol | Meaning | SI / common unit |
|---|---|---|
| W | Weight of the gold item | grams (g) or troy ounces (ozt) |
| K | Karat of the gold (0–24) | dimensionless |
| K ÷ 24 | Purity fraction (proportion of pure gold) | dimensionless (0 to 1) |
| S | Gold spot price | USD per gram ($/g) |
| MV | Melt value | USD ($) |
| B | Dealer buyback rate | % (typically 70–85%) |
| P | Estimated dealer payout | USD ($) |
SI units note: The gold industry uses troy ounces (1 ozt = 31.1035 g) for spot prices. The formula above works in grams throughout. If your scale reads in troy ounces, convert first: multiply ozt by 31.1035.
Worked examples
Given: Weight = 8 g, Karat = 18K, Spot price = $62.50/g, Buyback = 80%
- Purity fraction = 18 ÷ 24 = 0.75 (75% pure)
- Pure gold weight = 8 × 0.75 = 6.00 g
- Melt value = 6.00 × $62.50 = $375.00
- Dealer payout = $375.00 × 0.80 = $300.00
Given: Weight = 15 g, Karat = 14K, Spot price = $62.50/g, Buyback = 75%
- Purity fraction = 14 ÷ 24 = 0.5833 (58.3% pure)
- Pure gold weight = 15 × 0.5833 = 8.75 g
- Melt value = 8.75 × $62.50 = $546.88
- Dealer payout = $546.88 × 0.75 = $410.16
┌──────────────────────────────────────────────────────────┐ │ SCRAP GOLD VALUE — CALCULATION FLOW │ ├──────────────────────────────────────────────────────────┤ │ │ │ STEP 1 Weight (g) ──────────────────────────────┐ │ │ │ │ │ STEP 2 Karat ÷ 24 = Purity fraction │ │ │ (18K → 0.75, 14K → 0.583, 10K → 0.417) │ │ │ │ │ │ │ ▼ ▼ │ │ STEP 3 Weight × Purity = Pure gold (g) │ │ │ │ │ STEP 4 Spot price ($/g) │ │ │ │ ▼ │ │ └──────────────► Pure gold × Spot │ │ = MELT VALUE ($) │ │ │ │ │ STEP 5 Buyback % (e.g. 80%) │ │ │ │ ▼ │ │ └──────────────► Melt × Buyback │ │ = PAYOUT ($) │ └──────────────────────────────────────────────────────────┘
Karat purity comparison table
This table shows how purity fraction and melt value change across common karat grades, using a fixed example of 10 grams at a spot price of $62.50/g.
| Karat | Hallmark | Purity % | Pure gold in 10 g | Melt value (10 g @ $62.50/g) | Payout @ 80% |
|---|---|---|---|---|---|
| 24K | 999 | 99.9% | 9.99 g | $624.38 | $499.50 |
| 22K | 916 | 91.7% | 9.17 g | $573.13 | $458.50 |
| 18K | 750 | 75.0% | 7.50 g | $468.75 | $375.00 |
| 14K | 585 | 58.3% | 5.83 g | $364.38 | $291.50 |
| 10K | 417 | 41.7% | 4.17 g | $260.63 | $208.50 |
| 9K | 375 | 37.5% | 3.75 g | $234.38 | $187.50 |
Common mistakes when calculating scrap gold
Using the total jewelry weight including stones and clasps as the gold weight.
Remove stones and non-gold fittings before weighing, or ask the dealer to weigh the gold-only parts.
Using the spot price per troy ounce directly in the per-gram formula without converting.
Divide the troy-ounce spot price by 31.1035 to get the per-gram price before entering it.
Assuming the dealer will pay 100% of melt value.
Dealers always pay below melt value. Get quotes from at least three buyers and compare to your calculated melt value.
In my experience, the single biggest mistake people make is walking into a dealer without knowing their melt value first. I have seen buyers offer 55% of melt value to sellers who had no idea what their gold was worth. Run the numbers here before any conversation — it takes 30 seconds and gives you real negotiating power. A dealer who knows you know your number will almost always offer more.
The buyback percentage matters more than the spot price for your actual payout. Most guides focus on spot price, but here is the math most people miss: a dealer offering 85% buyback when spot is $60/g gives you more than a dealer offering 70% buyback when spot is $65/g — for the same 10 g of 18K gold, that is $382.50 vs $341.25. A 15-point difference in buyback rate outweighs a $5/g rise in spot price.
This means shopping dealers is more valuable than timing the gold market. Get three buyback quotes, plug them into this calculator, and pick the highest payout — not the dealer with the flashiest “we pay top dollar” sign.
⚡ Try the Electricity Bill Calculator →
Practice problems
Try these yourself, then reveal the answer.
Problem 1: What is the melt value of 5 g of 10K gold at $58/g?
Purity = 10 ÷ 24 = 0.4167
Pure gold = 5 × 0.4167 = 2.083 g
Melt value = 2.083 × $58 = $120.83
Problem 2: A dealer offers 78% of melt value for 12 g of 22K gold at $61/g. What is the payout?
Purity = 22 ÷ 24 = 0.9167
Pure gold = 12 × 0.9167 = 11.00 g
Melt value = 11.00 × $61 = $671.00
Payout = $671.00 × 0.78 = $523.38
Problem 3: The spot price is $1,950 per troy ounce. What is the per-gram price?
Per-gram price = $1,950 ÷ 31.1035 = $62.69 per gram
Frequently asked questions
How do I calculate scrap gold value?
What is the purity of 18K gold?
Sources & References
Written and fact-checked by Dr Irfan Mansuri. External links open in a new tab and are provided for further reading and verification.