💰 Scrap Gold Calculator by Karat & Weight
Calculate Your Scrap Gold Value
💡 Note: Gold prices fluctuate daily. Check current spot price at major exchanges. Most dealers pay 70-95% of melt value to cover refining and profit.
Understanding Gold Karat and Purity
Gold karat is the measurement of gold purity in jewelry and scrap gold. Pure gold is 24 karats, meaning it's 99.99% gold. Lower karat gold contains other metals (alloys) mixed with gold, making it more durable but less pure. Understanding karat purity is essential for accurately calculating scrap gold value.
24 Karat
99.99% Pure
Formula: \( \frac{24}{24} = 1.0000 \)
22 Karat
91.67% Pure
Formula: \( \frac{22}{24} = 0.9167 \)
18 Karat
75% Pure
Formula: \( \frac{18}{24} = 0.75 \)
14 Karat
58.33% Pure
Formula: \( \frac{14}{24} = 0.5833 \)
10 Karat
41.67% Pure
Formula: \( \frac{10}{24} = 0.4167 \)
How to Calculate Scrap Gold Value
The Formula
Scrap Gold Value = Weight × Purity % × Gold Price per Unit × Payout %
Step-by-Step Calculation Example
Example: 10 grams of 14K gold at $2,000/oz with 85% payout
Step 1: Determine purity percentage
14K gold = \( \frac{14}{24} = 0.5833 \) or 58.33%
14K gold = \( \frac{14}{24} = 0.5833 \) or 58.33%
Step 2: Calculate pure gold content
10 grams × 0.5833 = 5.833 grams of pure gold
10 grams × 0.5833 = 5.833 grams of pure gold
Step 3: Convert weight to troy ounces
5.833 grams ÷ 31.1 = 0.1875 troy ounces
5.833 grams ÷ 31.1 = 0.1875 troy ounces
Step 4: Calculate melt value
0.1875 troy oz × $2,000 = $375.00
0.1875 troy oz × $2,000 = $375.00
Step 5: Apply payout percentage
$375.00 × 0.85 = $318.75
$375.00 × 0.85 = $318.75
Weight Conversions for Gold
Essential Conversions
- 1 Troy Ounce (oz t) = 31.1035 grams
- 1 Troy Ounce = 20 Pennyweights (dwt)
- 1 Pennyweight = 1.5552 grams
- 1 Gram = 0.0322 troy ounces
- 1 Gram = 0.6430 pennyweights
⚠️ Important: Gold is priced per troy ounce, NOT regular ounces. A troy ounce (31.1g) is heavier than a standard ounce (28.35g).
Tips for Selling Scrap Gold
🎯 Maximize Your Payout
- Shop around: Get quotes from 3-5 dealers before selling
- Know your gold: Have items tested and weighed independently
- Understand purity: Look for karat stamps (10K, 14K, 18K, etc.)
- Check spot price: Know current gold prices before negotiating
- Separate by karat: Keep different purities separated
- Remove non-gold parts: Take off stones, clasps, and other materials
- Get it in writing: Request itemized quotes showing calculations
- Ask about fees: Clarify all deductions and processing costs
Frequently Asked Questions
How do I use a scrap gold calculator by karat and weight?
To use a scrap gold calculator by karat and weight: (1) Select your gold's karat (10K, 14K, 18K, etc.), (2) Choose weight unit (grams, troy ounces, or pennyweights), (3) Enter the weight, (4) Input current gold price per troy ounce, (5) Set the dealer payout percentage (typically 70-95%), then calculate. The calculator determines pure gold content and estimated value.
What is the purity percentage of each gold karat?
Gold purity by karat: 24K = 99.99% pure (formula: 24/24), 22K = 91.67% (22/24), 18K = 75% (18/24), 14K = 58.33% (14/24), 10K = 41.67% (10/24). To calculate purity, divide the karat number by 24. This percentage represents the gold content in your scrap.
How do you calculate the value of 14K gold?
To calculate 14K gold value: (1) Multiply weight by 0.5833 (58.33% purity) to get pure gold weight, (2) Convert to troy ounces if needed (divide grams by 31.1), (3) Multiply by current gold price per troy ounce, (4) Multiply by dealer payout % (typically 85%). Example: 20g of 14K gold at $2,000/oz with 85% payout = 20 × 0.5833 ÷ 31.1 × $2,000 × 0.85 = $638.82.
What percentage do gold buyers pay for scrap gold?
Most gold buyers pay 70-95% of melt value for scrap gold. Reputable dealers typically offer 80-90%. The payout percentage depends on: dealer overhead, refining costs, current market conditions, quantity of gold, and relationship with buyer. Pawn shops often pay 50-70%, while specialized refiners may pay 90-95% for larger quantities. Always get multiple quotes.
How many grams are in a troy ounce of gold?
There are 31.1035 grams in one troy ounce of gold. This is different from a regular (avoirdupois) ounce which equals 28.35 grams. Gold prices are always quoted per troy ounce. To convert: grams to troy oz = grams ÷ 31.1, troy oz to grams = troy oz × 31.1.
What is a pennyweight and how does it relate to gold?
A pennyweight (dwt) is a unit commonly used in the jewelry industry. One troy ounce equals 20 pennyweights, and one pennyweight equals 1.5552 grams. To calculate gold value in pennyweights: divide gold price per troy ounce by 20 to get price per pennyweight. Example: if gold is $2,000/troy oz, it's $100/dwt ($2,000 ÷ 20).
How can I tell what karat my gold is?
To identify gold karat: (1) Look for stamps/hallmarks (10K, 14K, 18K, 585, 750, etc.), (2) Use a jeweler's loupe to find markings inside rings or on clasps, (3) Get it tested with acid test kit, (4) Use electronic gold tester, or (5) Visit a jeweler for professional testing. Numbers like 417 = 10K, 585 = 14K, 750 = 18K (parts per thousand divided by 1000 × 24).
Should I sell gold jewelry or keep it?
Consider selling if: jewelry is broken/unwearable, you need cash, gold prices are high, or pieces have only scrap value. Keep if: items have sentimental value, are antique/designer pieces worth more than melt value, or family heirlooms. Before selling, have valuable pieces appraised—antique, designer, or well-crafted jewelry often worth much more than scrap value.
What's the difference between melt value and scrap value?
Melt value is the 100% pure gold content value at current market price—what the gold is theoretically worth if melted down. Scrap value is what dealers actually pay (70-95% of melt value), accounting for refining costs, dealer profit, and risk. Always calculate melt value first to know the maximum possible value before negotiating scrap price.
Can I calculate gold value myself before selling?
Yes! Use our scrap gold calculator by karat and weight to: (1) Determine your gold's true value before selling, (2) Verify dealer offers are fair, (3) Negotiate better prices with knowledge, (4) Compare multiple buyer offers, (5) Decide whether to sell now or wait. Knowledge of your gold's value gives you negotiating power and prevents being underpaid.
