How Much Is Scrap Gold Worth?
Calculate your scrap gold value instantly
Scrap gold value is determined by weight, purity, and today's spot price. Broken rings, old necklaces, dentistry gold, and gold offcuts all have immediate melt value. Use our calculator or formula to estimate what your scrap gold is worth before selling.
Calculate your scrap gold value
Quick formula:
Melt Value =
Weight (g) × Purity % × Price per gram
Example: You have 10 grams of 14K scrap gold.
Today's gold price is $65 per gram.
Melt value = 10g × 0.585 × $65 = $380.25
Expected payment (70% of melt) = ~$266
Scrap gold purity reference
| Hallmark/Stamp | Karat | Purity % | Common Uses |
|---|---|---|---|
| 417 | 10K | 41.7% | Budget jewellery, rings |
| 585 | 14K | 58.5% | Everyday jewellery, most rings |
| 750 | 18K | 75.0% | Fine jewellery, wedding bands |
| 916 | 22K | 91.6% | Traditional jewellery, coins |
| 999 | 24K | 99.9% | Bullion, bars, coins |
Factors affecting scrap gold prices
Spot price fluctuations: Gold prices change daily based on global markets. Selling during price peaks captures higher value. Check current rates on our live gold price page.
Purity mix: If your scrap includes mixed purities (10K, 14K, 18K), refiners may process them separately or blend and charge lower rates. Segregating by purity can yield better returns.
Refining costs: Refiners charge 20–50% of melt value to cover assay, processing, and profit. Higher-purity scrap (22K, 24K) may fetch better percentages due to lower processing costs.
Gemstones & additional metals: Diamonds or precious stones are usually removed and valued separately, which increases total value. Silver content in mixed alloys also adds value.
Weight threshold: Large quantities (50+ grams) may receive better rates than small batches. Some buyers have minimum weight requirements.
Best places to sell scrap gold
Local jewellers & refiners
Highest rates (70–85% of melt value). Professional assay equipment. Immediate payment. Build relationships for repeat fair deals. Best for most sellers.
Online gold buyers
Convenient, mail-in service. Rates typically 50–70% of melt value. Trustworthy platforms offer secure shipping and insurance. Good for remote areas or bulk sales.
Coin & precious metals shops
Specialized pricing for bullion and coins. Often higher rates for pure 24K or investment-grade gold. May offer below-market rates for miscellaneous scrap.
Frequently asked questions
How much is scrap gold worth today?
Scrap gold value is based on: (1) Weight in grams or troy ounces, (2) Purity (10K, 14K, 18K, 22K, 24K), (3) Today's spot gold price. Multiply weight × purity % × current price per gram to get melt value. Most buyers offer 50–80% of melt value after refining costs.
What is considered scrap gold?
Scrap gold includes broken jewellery, old rings, necklaces, bracelets, dentistry work, industrial offcuts, and any unwanted gold items. Even damaged or mismatched items have value based on their gold content.
Where can I sell scrap gold for the best price?
Local jewellers and precious metals refiners typically offer 70–85% of melt value. Online gold buyers offer convenience but may pay 50–70%. Always get multiple quotes and verify the purity and weight before accepting an offer.
How do I know the purity of my scrap gold?
Look for hallmarks stamped on the item: 10K, 14K, 18K, 22K, 24K, or numbers like 417, 585, 750, 916, 999. If no mark is visible, ask a jeweller for acid testing or XRF scanning to determine purity before selling.