Formula Used
Net weight = gross weight - non-gold weight.
Total net weight = net weight × quantity.
Troy ounces = total net weight converted to troy ounces.
Purity factor = karat ÷ 24, or custom purity ÷ 100.
Pure gold ounces = troy ounces × purity factor.
Gross melt value = pure gold ounces × spot price.
Adjusted value = gross melt value × (1 - melt loss ÷ 100).
Final offer = adjusted value × payout rate - fixed deductions.
How to Use This Calculator
Enter the current gold spot price per troy ounce.
Add the gross weight of your scrap gold lot.
Subtract stones, steel, springs, or non-gold parts.
Select the correct weight unit and karat value.
Use custom purity if your assay gives a percent.
Enter payout rate, melt loss, and buyer fees.
Press calculate to view the result above the form.
Use CSV or PDF buttons to export the report.
Scrap Gold Buying Guide
Scrap gold value starts with purity. A piece marked 24K is pure gold in theory. A 14K item contains about 58.33 percent gold. The rest can be copper, silver, nickel, or other metals. This calculator separates the gold content from the full item weight. That helps you compare offers with the market spot price.
Why Spot Price Matters
Gold is normally quoted per troy ounce. A troy ounce is different from a common ounce. One troy ounce equals 31.1034768 grams. Many sellers check a public quote before visiting a buyer. You can type the current spot price into the form. The tool then converts your selected unit and applies karat purity.
Understanding Scrap Deductions
A buyer rarely pays the full melt value. Refining, testing, hedging, and business costs reduce the offer. Some buyers also use a payout rate. For example, a 90 percent payout means the buyer offers 90 percent of the adjusted melt value. Fixed fees can cover assay or handling costs. Melt loss can represent expected refining loss. These settings make the estimate more realistic.
Using The Result
The gross melt value shows the theoretical value before deductions. The adjusted value shows the amount after melt loss. The final offer estimate shows the expected cash value after payout rate and fees. The spread shows the difference between gross melt and the final offer. A large spread can be normal for tiny lots. It can also reveal a weak offer.
Practical Seller Tips
Sort jewelry by karat before weighing it. Remove stones, steel springs, and non gold parts when possible. Weigh each lot separately. Use a precise scale. Check hallmarks, but remember that hallmarks can be wrong. An acid test or XRF test can confirm purity. Keep a photo record of valuable pieces. Compare more than one buyer. Ask whether the quote uses live spot, bid price, or a delayed price.
Final Advice
This calculator is an estimate. It does not replace a professional assay. Market prices can move quickly. Use fresh spot data. Review fees carefully. Keep your export file for records. For mixed lots, repeat the process for each karat group. Combine totals only after every item uses the right purity setting first.
FAQs
What is scrap gold value?
Scrap gold value is the melt value of gold content inside jewelry, coins, dental gold, or broken pieces. It depends on weight, purity, and spot price.
Does this calculator fetch live Kitco prices?
No. Enter the current spot price manually. This avoids API limits and lets you use the quote source, bid price, or market value you prefer.
Why is karat important?
Karat shows purity. A 14K piece has 14 parts gold out of 24. Higher karat means more gold content and a higher melt value.
What is melt loss?
Melt loss is an estimated reduction during refining or processing. It can cover dirt, solder, plating issues, and practical loss during recovery.
Why is the buyer payout below melt value?
Buyers deduct costs for refining, testing, risk, shipping, and profit. The payout rate estimates what part of adjusted melt value they offer.
Can I calculate mixed karat lots?
Yes, but calculate each karat group separately. Then add final values together. Mixed lots should not use one average purity unless tested.
Which weight unit should I use?
Use the unit shown on your scale. Grams are common for jewelry. Pennyweight and troy ounces are common in precious metal buying.
Is the final offer guaranteed?
No. The result is only an estimate. A real buyer may test purity, remove stones, use another spot quote, or apply different fees.