Gold Melt Value Calculator – Scrap Gold Value
Calculate the melt value of gold jewelry, coins, and bullion from the spot price, karat or purity, and weight. See the pure gold content and an estimated dealer payout.
Calculate the Gold Melt Value of Jewelry, Coins, and Bullion
Gold Melt Value Formula
Where:
- \(V\) — total melt value ($)
- \(P\) — gold spot price per troy ounce ($/troy oz)
- \(G\) — grams per troy ounce (31.1034768 g)
- \(q_i\) — quantity of item \(i\)
- \(w_i\) — weight of one item \(i\) in grams (total weight, including alloy)
- \(p_i\) — purity of item \(i\) as a decimal (e.g. 0.75 for 18K)
The formula converts each item's total weight into pure gold content by multiplying by purity, sums everything across items, and prices the result at the current spot rate per troy ounce.
Gold Value – Calculation Example
Example: you have one 18K gold chain weighing 10 grams, the spot price is $2,650 per troy ounce, and a dealer offers 80% of melt value.
\[ \text{pure gold} = 10 \text{ g} \times 0.75 = 7.5 \text{ g} \approx 0.2411 \text{ troy oz} \]
\[ V = 0.2411 \times 2650 \approx 639.00 \text{ dollars} \]
Result: the chain contains about 7.5 g of pure gold with a melt value of roughly $639.00; at an 80% buy rate, the dealer would pay approximately $511.20. The calculator also shows the spot price per gram: $2,650 ÷ 31.1035 ≈ $85.19/g.
How to use the calculator
- Enter the Gold spot price in dollars per troy ounce. The calculator does not fetch live prices, so check a current quote first — the price per gram is shown in the results.
- Pick a Gold type for row 1: a karat grade (10K–24K), Custom purity, or a coin preset such as the American Gold Eagle or British Sovereign.
- For karat and custom items, enter the Quantity and the Weight of one item, then choose the unit (Grams, Troy ounces, Pennyweights, or Ounces). This is the total weight of the piece, alloy included.
- If you selected Custom purity, a Gold purity field appears — enter the actual gold percentage (e.g. 87.5 for 21K).
- Coin presets need no weight: the pure gold content (actual gold weight) is filled in automatically, so just set the quantity.
- Add more items as needed — a new row appears as soon as the last visible row has a type selected, up to 10 rows.
- Enter the Dealer buy percentage to estimate what a buyer would actually pay (most scrap buyers pay 70–95%).
- Read the results: price per gram, total pure gold weight and melt value, dealer rate per troy ounce, estimated payout, and an item-by-item breakdown.
What is gold melt value?
The melt value (or intrinsic value) of a gold item is what its pure gold content alone is worth at the current market price — as if the piece were melted down and sold as raw metal. It is the floor value of any gold object: no matter what happens to design, brand, or collectible appeal, the metal itself retains this worth.
Melt value depends on two things: how much gold the item actually contains, and today's spot price. Karat measures purity — 24K is 99.9% gold, 18K is 75%, 14K is 58.33%, and so on. A 14K ring and an 18K ring of identical weight contain very different amounts of gold, so purity matters as much as scale weight. This is why the calculator asks for total weight and karat, while coin presets use the published actual gold weight directly.
The melt value tells you what a dealer could recover by refining the item, and it is the basis for scrap gold pricing. The Estimated dealer payout applies your buy percentage to the melt value: 100% means full melt value, while 80% means the dealer keeps 20% to cover refining costs, testing, and profit. Before selling, it is a strong negotiating baseline — offers far below melt value (under 60%) are usually poor.
Keep in mind that melt value is not the same as market value. Rare coins, designer jewelry, and pieces with large gemstones can be worth well above melt value — but that premium requires a collector or specialty buyer, not a scrap dealer. If you are weighing gold against other assets, remember that gold is often held as a long-term store of value; see how purchasing power changes over time with our inflation calculator.
Common gold purities
| Karat | Purity | Miliarium fineness | Gold in 10 g |
|---|---|---|---|
| 24K | 99.9% | 999 | 9.99 g |
| 22K | 91.67% | 916 | 9.17 g |
| 18K | 75% | 750 | 7.50 g |
| 14K | 58.33% | 583 | 5.83 g |
| 10K | 41.67% | 417 | 4.17 g |
| 9K | 37.5% | 375 | 3.75 g |
Assumptions, limitations and practical tips
- Gemstones are not gold. If a ring holds stones, estimate and subtract their weight, or use the weight of the shank/mount only. The melt value covers the metal, not settings or stones.
- Hallmarks can lie. Stamped karat marks are occasionally inaccurate or forged. If large sums are involved, have the item tested (acid, XRF, or by a professional assayer) before relying on the printed mark.
- Plated and filled items are worth almost nothing. Gold-plated or gold-filled jewelry contains only a microscopic layer of gold; its melt value is negligible regardless of what the calculator says for solid pieces of the same apparent karat.
- Different ounces. Precious metals use troy ounces (31.1035 g), not the everyday avoirdupois ounce (28.35 g). The calculator handles the conversion for whichever unit you select — just pick the right one. Pennyweights (1.5552 g) are still used by some US dealers.
- Numismatic premium is ignored. Rare-date coins can sell for many times melt value. Never scrap a collectible coin before checking its numismatic worth.
- Coins use actual gold weight. A Krugerrand is minted in 22K alloy but contains exactly 1 troy oz of pure gold; the presets already account for this, so do not enter the coin's total weight as 22K gold.
- Watch the spot price. Gold prices move daily. A quote from last week can materially change the result — the price per gram shown in the results makes it easy to re-check by hand.
- Compare buyers. Mail-in services and pawn shops often pay 40–60% of melt value, while dedicated scrap buyers and local coin shops commonly pay 70–95%. Get several quotes before selling.
If you also own silver items, run them through our silver melt value calculator the same way. And if you plan to reinvest the proceeds, our compound interest calculator shows how that money could grow.
Frequently Asked Questions
How do I calculate gold melt value by hand?
Multiply the item's weight by its purity to get pure gold content, then apply the spot price. For example, a 14K ring weighing 12 grams: \( 12 \times 0.5833 = 7 \) g of gold, which is \( 7 \div 31.1035 \approx 0.225 \) troy oz. At a spot price of $2,650/oz the melt value is about \( 0.225 \times 2650 \approx \$597 \). Divide the spot price by 31.1035 first if you prefer working in price per gram.
What percentage of melt value is a fair offer when selling gold?
Dedicated scrap gold buyers and local coin shops typically pay 70–95% of melt value, so anything in that range is reasonable. Mail-in services and pawn shops often offer only 40–60%, which is generally a poor deal. Get quotes from several buyers before selling, and walk away from offers below 60% unless the item has no other market.
How do I convert karat to gold purity percentage?
Divide the karat number by 24 and multiply by 100. So 18K is \( 18 \div 24 = 75\% \), 14K is \( 58.33\% \), and 10K is \( 41.67\% \). If your item has an unusual mark, use the custom purity option — for example, 21K equals 87.5% and Russian 9K equals 37.5%. Hallmarked items occasionally misstate purity, so have valuable pieces tested.
Is my gold-plated or gold-filled jewelry worth calculating?
No — plated and filled items contain only a thin surface layer of gold, typically fractions of a cent's worth of metal. Melting them yields nothing recoverable, so dealers pay little or nothing for them regardless of appearance. Look for marks like "GP", "GF", "HGE", or "1/20" which indicate plating rather than solid karat gold.
Should I subtract the weight of gemstones before calculating?
Yes. The calculator prices only the metal, so a 2-carat diamond sitting in a ring inflates the apparent gold weight. Estimate the stones' weight or weigh the mount alone if possible. Also remember gemstones have their own value — a jeweler may appraise them separately, and removing them before selling as scrap could lose money.
Why does my 22K Krugerrand calculate differently from other 22K items?
Bullion coins are quoted by actual gold weight, not total weight. A 1 oz Krugerrand weighs 33.93 g in 22K alloy but contains exactly 1 troy oz of pure gold; the copper alloy is not "missing" gold. The coin presets handle this automatically, so never enter the coin's gross weight as regular 22K gold — that would double-count the alloy as pure gold and overstate the value.
What's the difference between a troy ounce and a regular ounce?
A troy ounce weighs 31.1035 g, while the everyday (avoirdupois) ounce is only 28.35 g — about 10% less. Gold is always priced per troy ounce. A pennyweight (dwt), still used by some US dealers, is 1.5552 g, and 20 dwt equal one troy ounce. The calculator converts your chosen unit automatically; just make sure your kitchen scale reading corresponds to the unit you select.
Useful calculator, with one important tip: as noted above, this calculator does not fetch live prices, so always check a current live price before you enter the spot price. Gold prices move daily, and an old price can change the melt value materially. For a free calculator with live price guides for scrap gold, coins and jewelry, I also use https://goldvaluehub.com/ as a cross-check before accepting a dealer quote.