Scrap gold value calculator

What is a scrap gold value calculator?

A scrap gold value calculator is a free online tool that estimates how much the gold content of an item is actually worth. Old rings, broken chains, dental gold, and bullion coins are rarely pure gold, so their value depends on three things: how much they weigh, how pure the gold is (its karat), and the market price of pure gold. The calculator combines these to return the underlying melt value — the amount a refiner or buyer would base an offer on before any fees or margins.

How does the calculator work?

You enter the weight of the item, choose its karat (fineness), and enter the current price of one gram of pure 24-karat gold. The tool first converts the karat into a purity fraction, then multiplies the weight by that fraction to find the amount of actual gold present, and finally multiplies by the price per gram.

The weight field accepts both grams and ounces, so you can measure on any scale. Karat describes how many parts out of 24 are pure gold: 24k is pure gold, 18k is 18/24 (75%) gold, 14k is 14/24 (about 58.3%) gold, and so on. Because scrap value tracks only the pure gold content, a heavier low-karat item can be worth less than a lighter high-karat one.

Karat and purity

Karat (spelled “carat” in some regions) is the traditional measure of gold fineness. The purity fraction is simply the karat divided by 24:

Formula

The scrap gold value is calculated as:

$V = W \times \frac{k}{24} \times P$

Where:

• $V$ is the scrap (melt) value of the gold.
• $W$ is the weight of the item in grams.
• $k$ is the karat of the gold (out of 24).
• $P$ is the price of one gram of pure (24k) gold.

The factor $\frac{k}{24}$ is the purity — the share of the item’s weight that is actual gold.

Examples of use

1. A 10-gram 14k gold chain when pure gold trades at 60 per gram:

   • Weight $W$ = 10 g
   • Karat $k$ = 14
   • Price $P$ = 60

   Calculation: $V = 10 \times \frac{14}{24} \times 60 = 350.00$

2. A 5-gram 24k gold coin when pure gold trades at 65 per gram:

   • Weight $W$ = 5 g
   • Karat $k$ = 24
   • Price $P$ = 65

   Calculation: $V = 5 \times \frac{24}{24} \times 65 = 325.00$

3. One troy-scale ounce (28.3495 g) of 24k gold at 60 per gram:

   $V = 28.3495 \times \frac{24}{24} \times 60 \approx 1700.97$

   Switching the weight unit from ounces to the equivalent number of grams gives the same value, because the calculator always works from the gram equivalent.

Notes

The result is a raw material estimate, not an offer. Buyers deduct a refining fee and a profit margin, so a real payout is usually below the melt value shown here. The number is also currency-agnostic: enter the gold price in whatever currency you work in, and the value comes back in the same currency. For fast comparison shopping, keep the price per gram of pure gold up to date, since it moves with the market. If you are weighing whether to hold the metal instead of selling, a compound interest projection can help you compare the two paths.

FAQs

Is this the price a gold buyer will pay me?

No. This is the intrinsic melt value of the pure gold content. Dealers subtract refining costs and their own margin, so their offer is typically a percentage of this figure.

What if my item is measured in ounces?

Switch the weight unit to ounces and enter the number directly. The calculator converts to grams internally, so grams and the equivalent ounces produce the same value.

Does the gold price include the karat already?

No. Enter the price of pure 24k gold per gram. The calculator applies the karat purity for you, so you do not need to pre-adjust the price for lower-karat items.