Scrap Gold Calculator

- May 10, 2025
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Calculate the value of your scrap gold based on weight, purity (karat), and current gold price. This calculator helps estimate how much your gold items are worth.

Gold Information

£

Additional Items

1

Advanced Options

About Gold Valuation

Scrap gold is valued based on its weight and purity. The gold content is what determines the value, not the condition or craftsmanship of the item.

Gold Purity (Karat)
  • 24K Gold: 99.9% pure gold, the highest purity available for gold
  • 22K Gold: 91.7% pure gold, commonly used in high-end jewellery
  • 18K Gold: 75% pure gold, a popular choice for quality jewellery
  • 14K Gold: 58.3% pure gold, common in the United States
  • 10K Gold: 41.7% pure gold, the minimum karat that can be legally sold as gold in the US
Weight Measurements
  • Grams: The most common metric measurement for gold
  • Troy Ounce: Standard weight for precious metals (31.1 grams)
  • Pennyweight (dwt): Used by some jewellers (1 dwt = 1.555 grams)
Considerations
  • Buyers typically pay 70-80% of the calculated melt value
  • Refining fees may be deducted from the final payment
  • Antique or designer jewellery may be worth more than its melt value
  • Gold prices fluctuate daily based on market conditions
  • Always get multiple quotes when selling scrap gold

Understanding the Scrap Gold Calculator

The Scrap Gold Calculator is a handy tool for anyone looking to find out how much their unwanted gold is worth. Whether you have old jewellery or broken gold items lying around, this calculator gives you an estimate of their value based on weight, purity, and the current gold price. It simplifies a complex process, making it easy for you to get a quick insight into your gold's worth.

How to Use the Scrap Gold Calculator

Using the calculator is straightforward. You first enter the weight of your gold items, choosing between grams, troy ounces, or pennyweights. Next, you select the gold's purity, which is usually measured in karats. Lastly, you input the current market price of gold per troy ounce. This combination allows the calculator to provide an accurate estimate of your gold's total value.

What Affects Gold Value?

  • Current Gold Price: The market price of gold fluctuates daily, impacting the value of your scrap.
  • Weight: More gold means a higher value. The calculator considers the total weight of your items.
  • Purity: The higher the purity (measured in karats), the more valuable the gold. 24K is the purest.

Features of the Scrap Gold Calculator

The Scrap Gold Calculator offers a range of features to help you get the most accurate results. You can add multiple gold items, adjusting weight and purity for each. It also allows you to include a refining fee if desired, helping you to see a more realistic net value. Additionally, the breakdown of calculations is available, giving you insights into how the total value was derived.

Breaking Down Gold Purity

  • 24K Gold: 99.9% pure, the highest quality.
  • 22K Gold: 91.7% pure, often used in high-end jewellery.
  • 18K Gold: 75% pure, a popular choice for many jewellery pieces.
  • 10K Gold: 41.7% pure, the minimum allowed for gold in the US.

Weight Measurements Explained

Gold can be measured in different ways, and understanding these units is essential. The most common measurement is grams. However, precious metals are often measured in troy ounces, where one troy ounce equals approximately 31.1 grams. Pennyweight is another measurement used by some jewellers, where one pennyweight equals about 1.555 grams. Knowing the right unit can help you get an accurate value for your gold.

Considerations for Selling Scrap Gold

When you're ready to sell your scrap gold, there are a few things to keep in mind. Buyers typically pay around 70-80% of the calculated melt value. Refining fees can also take a chunk out of your profit. Some items, especially antique or designer pieces, may fetch a higher price than their melt value due to their craftsmanship. Always remember to shop around for the best offers.

Conclusion: Why Use a Scrap Gold Calculator?

In summary, the Scrap Gold Calculator is a valuable resource for anyone wanting to evaluate their gold. It provides a simple and effective way to estimate the value based on clear criteria. With insights into weight, purity, and market price, you can make informed decisions about your scrap gold. This tool not only saves time but also enhances your understanding of gold valuation.