How to calculate scrap gold value
The karat number tells you how many parts out of 24 are pure gold. 24 karat is (almost) pure gold, while 14 karat is 14 ÷ 24 = 58.3% gold, with the rest made of copper, silver, zinc or nickel for strength and color.
Gold melt value = weight (ozt) × (karat ÷ 24) × gold spot price
Example: a 14k chain weighing 10 grams is 10 ÷ 31.1035 = 0.3215 ozt. At 58.33% purity it holds 0.1875 ozt of pure gold. If gold were $4,000 per ounce, the melt value would be about $750. At an 80% payout, you might be offered around $600.
Gold karat purity chart
| Karat | Common stamps | Gold content | Typical use |
|---|---|---|---|
| 24k | 999, 24K | 99.9% | Bullion, Asian jewelry |
| 22k | 916, 917, 22K | 91.7% | Indian and Middle Eastern jewelry, gold coins |
| 18k | 750, 18K | 75.0% | Fine jewelry, watches |
| 14k | 585, 583, 14K | 58.3–58.5% | Most US jewelry |
| 12k | 500, 12K | 50.0% | Older pieces |
| 10k | 417, 10K | 41.7% | Class rings, budget jewelry |
| 9k | 375, 9K | 37.5% | UK and Australian jewelry |
White, rose and yellow gold of the same karat contain the same percentage of gold; only the other alloy metals change.
Pennyweight: the unit gold buyers use
Many US gold buyers quote prices per pennyweight (dwt). One pennyweight is 1.555 grams, and 20 pennyweight make one troy ounce. If a buyer quotes a dwt price for 14k, divide it by the 14k melt value per dwt (shown when you select pennyweight) to see what percentage of melt they are offering.
Gold-filled, plated and dental gold
Gold filled (GF, 1/20 12K GF): a layer of karat gold bonded over brass. A stamp of 1/20 12K GF means one-twentieth of the weight is 12k gold, so the pure gold content is only about 2.5% of the total weight. Buyers usually pay a small fraction of melt for gold-filled items.
Gold plated (GP, GEP, HGE, RGP): a very thin electroplated layer with negligible gold value.
Dental gold: crowns and bridges vary widely, typically somewhere between 10k and 22k and often with palladium or platinum. A buyer will need to test or assay it, so use a conservative purity in the calculator.
Have silver too? Try the silver scrap calculator, or check gold coin melt values for pre-1933 US gold coins.
Frequently asked questions
How much is 14k gold worth per gram?
Take the gold spot price per troy ounce, divide by 31.1035 to get the price per gram of pure gold, and multiply by 0.583. Select 14k and enter 1 gram in the calculator to see the live figure.
How much is 10k gold worth?
10k gold is 41.7% pure gold. Its melt value is the weight in troy ounces times 0.417 times the gold spot price. Because it contains less gold, 10k jewelry is worth about 28% less than the same weight of 14k.
Is 18k gold worth more than 14k?
Yes. 18k gold is 75% gold compared with 58.3% for 14k, so the same weight of 18k gold is worth about 29% more at melt.
What percentage of melt value do gold buyers pay?
It varies by buyer and lot size. Pawn shops may offer well below melt, while established dealers and refiners often pay somewhere around 70% to 95% for larger lots. Ask any buyer what percentage of melt they are paying.
Should I remove stones before weighing gold?
Yes, if you can. Buyers value only the gold, and most will deduct the weight of stones. If you can't remove them, estimate and subtract their weight in the calculator.
Does the color of gold change its value?
No. Yellow, white and rose gold of the same karat contain the same amount of pure gold. White gold may be rhodium plated, which doesn't change the melt value.