Scrap Gold Calculator
Calculate the value of your scrap gold, old jewelry, and gold items when selling to dealers or refiners. This calculator provides realistic valuations based on current market prices and typical dealer spreads.
Total Scrap Value
Item Breakdown
Add items above to see breakdown
Selling Tips
Get Multiple Quotes: Compare dealer prices
Check Purity: Higher karat = higher value
Consider Refiners: Better prices for large quantities
Tip: Clean items before selling
Understanding Scrap Gold Value
Scrap gold value is determined by the current gold spot price, the purity of the gold, and the dealer spread. Understanding these factors helps you get the best price when selling gold jewelry, coins, or other gold items.
Factors Affecting Scrap Gold Value
- Gold Spot Price: Current market price per troy ounce
- Purity/Karat: Percentage of pure gold in the item
- Weight: Total weight of the gold item
- Dealer Spread: Percentage below spot price dealers pay
- Condition: Clean, undamaged items get better prices
- Quantity: Larger quantities may get better pricing
Dealer Spread Explained
The dealer spread accounts for the costs and profit margin dealers need to cover when buying gold from the public.
- Refining Costs: 1-3% for melting and purifying gold
- Labor Costs: Time spent evaluating and processing
- Profit Margin: Dealer's profit on the transaction
- Risk Premium: Protection against price fluctuations
- Typical Spread: 5-15% below spot price
Gold Purity and Karat
| Karat | Purity | Common Items | Value Multiplier |
|---|---|---|---|
| 24K | 99.9% | Bullion, coins | 1.000 |
| 22K | 91.7% | Indian jewelry | 0.917 |
| 18K | 75% | Fine jewelry | 0.750 |
| 14K | 58.3% | Fashion jewelry | 0.583 |
| 10K | 41.7% | Costume jewelry | 0.417 |
Where to Sell Scrap Gold
- Local Jewelers: Convenient, but may offer lower prices
- Pawn Shops: Quick cash, lowest prices due to high spreads
- Gold Buyers/Dealers: Specialize in gold, competitive pricing
- Refiners: Best prices for large quantities, industrial focus
- Online Buyers: Convenient, shipping required, competitive rates
- Coin Shops: Good for coins and bullion, knowledgeable staff
Preparation Tips
- Clean Items: Remove dirt, oils, and residues
- Separate Items: Sort by karat and type
- Know Weights: Weigh items before selling
- Check Hallmarks: Verify purity markings
- Get Appraisals: For valuable or antique pieces
- Research Prices: Check current spot prices
Legal Considerations
- Receipts: Always get written receipts for transactions
- Identification: Dealers may require ID for large transactions
- Taxes: Capital gains tax may apply to profits
- Insurance: Remove items from insurance when sold
- Warranties: Some purchases may be covered by lemon laws
Common Mistakes to Avoid
- Selling Too Quickly: Get multiple quotes first
- Ignoring Purity: Different karats have very different values
- Not Weighing Items: Accurate weight is crucial
- Accepting First Offer: Dealers expect negotiation
- Forgetting About Taxes: Profits may be taxable
- Mixing Metals: Gold-plated items have little value
Gold vs. Gold-Filled vs. Gold-Plated
- Solid Gold: Contains actual gold throughout (10K-24K)
- Gold-Filled: Gold bonded to base metal, 5-20% gold content
- Gold-Plated: Thin gold layer over base metal, minimal value
- Vermeil: Sterling silver with gold plating
- Testing: Use acid tests or professional appraisal for verification
Tip: Scrap gold value depends on purity, weight, and market conditions. Always get multiple quotes from reputable dealers, and consider the time value of waiting for better market conditions. Professional appraisal can help identify antique or collectible pieces that may be worth more than melt value.