Gold Scrap Value Calculator

Gold Scrap Value Calculator

function calculateGoldScrapValue() { var goldWeight = parseFloat(document.getElementById('goldWeight').value); var weightUnit = document.getElementById('weightUnit').value; var goldKarat = parseFloat(document.getElementById('goldKarat').value); var marketPricePerOunce = parseFloat(document.getElementById('marketPricePerOunce').value); var dealerPayoutRate = parseFloat(document.getElementById('dealerPayoutRate').value); if (isNaN(goldWeight) || goldWeight <= 0 || isNaN(marketPricePerOunce) || marketPricePerOunce <= 0 || isNaN(dealerPayoutRate) || dealerPayoutRate 100) { document.getElementById('result').innerHTML = 'Please enter valid positive numbers for all fields.'; return; } // Step 1: Convert weight to grams var weightInGrams; if (weightUnit === 'grams') { weightInGrams = goldWeight; } else if (weightUnit === 'troy_ounces') { weightInGrams = goldWeight * 31.1035; // 1 troy ounce = 31.1035 grams } else if (weightUnit === 'pennyweights') { weightInGrams = goldWeight * 1.55517; // 1 pennyweight = 1.55517 grams } // Step 2: Determine purity factor based on karat var purityFactor = goldKarat / 24; // Step 3: Calculate market price per gram of pure gold var marketPricePerGram = marketPricePerOunce / 31.1035; // Convert per troy ounce to per gram // Step 4: Calculate the value of pure gold content var pureGoldContentGrams = weightInGrams * purityFactor; var valueBeforePayout = pureGoldContentGrams * marketPricePerGram; // Step 5: Apply dealer payout rate var finalScrapValue = valueBeforePayout * (dealerPayoutRate / 100); document.getElementById('result').innerHTML = 'Pure Gold Content: ' + pureGoldContentGrams.toFixed(2) + ' grams' + 'Market Value (100% Payout): $' + valueBeforePayout.toFixed(2) + " + 'Your Estimated Payout: $' + finalScrapValue.toFixed(2) + ''; } .gold-scrap-calculator-container { font-family: 'Arial', sans-serif; background-color: #f9f9f9; border: 1px solid #ddd; border-radius: 8px; padding: 25px; max-width: 600px; margin: 20px auto; box-shadow: 0 4px 8px rgba(0,0,0,0.05); } .gold-scrap-calculator-container h2 { text-align: center; color: #333; margin-bottom: 25px; font-size: 1.8em; } .calculator-form .form-group { margin-bottom: 18px; display: flex; flex-wrap: wrap; align-items: center; gap: 10px; } .calculator-form label { flex: 1 1 200px; font-weight: bold; color: #555; font-size: 0.95em; } .calculator-form input[type="number"], .calculator-form select { flex: 1 1 120px; padding: 10px; border: 1px solid #ccc; border-radius: 5px; font-size: 1em; box-sizing: border-box; } .calculator-form input[type="number"] { min-width: 80px; } .calculator-form select { min-width: 100px; background-color: #fff; cursor: pointer; } .calculator-form .form-group span { font-weight: bold; color: #555; margin-left: 5px; } .calculator-form button { display: block; width: 100%; padding: 12px 20px; background-color: #007bff; color: white; border: none; border-radius: 5px; font-size: 1.1em; cursor: pointer; transition: background-color 0.3s ease; margin-top: 20px; } .calculator-form button:hover { background-color: #0056b3; } .result-container { background-color: #e9f7ef; border: 1px solid #d4edda; border-radius: 8px; padding: 15px 20px; margin-top: 25px; text-align: center; } .result-container h3 { color: #28a745; margin-top: 0; font-size: 1.4em; } .result-container p { margin: 8px 0; color: #333; font-size: 1.1em; } .result-container p strong { color: #000; } @media (max-width: 480px) { .calculator-form .form-group { flex-direction: column; align-items: flex-start; } .calculator-form label, .calculator-form input[type="number"], .calculator-form select { width: 100%; flex: none; } .calculator-form .form-group span { align-self: flex-end; margin-top: -35px; /* Adjust to position currency symbol */ margin-right: 10px; } .calculator-form .form-group:nth-child(3) span { /* Specific for market price */ margin-right: 0; margin-left: -30px; } }

Understanding Your Gold Scrap Value

Do you have old, broken, or unwanted gold jewelry, coins, or dental gold lying around? Instead of letting it collect dust, you might be sitting on a valuable asset. Our Gold Scrap Value Calculator helps you estimate the worth of your gold items before you sell them, ensuring you get a fair deal.

What is Gold Scrap?

Gold scrap refers to any item made of gold that is no longer used for its original purpose and is intended for melting down and recycling. This can include:

• Broken or tangled gold chains and bracelets
• Unmatched gold earrings
• Old gold rings (wedding bands, class rings)
• Gold dental fillings or crowns
• Certain gold coins or bullion that are damaged or not collectible
• Industrial gold waste

Key Factors Influencing Gold Scrap Value

The value of your gold scrap isn't just about its weight. Several critical factors come into play:

1. Weight of the Gold

This is perhaps the most straightforward factor. The more gold you have, the potentially higher its value. Gold is typically weighed in:

• Grams (g): The most common unit for small quantities.
• Troy Ounces (ozt): The standard international unit for precious metals (1 troy ounce = 31.1035 grams). Note: A troy ounce is heavier than a standard avoirdupois ounce (which is 28.35 grams).
• Pennyweights (dwt): Often used by jewelers, especially in the US (1 pennyweight = 1.55517 grams, or 20 pennyweights = 1 troy ounce).

2. Gold Purity (Karat)

Pure gold is 24 karats (24K). Most jewelry is not 24K because pure gold is too soft for everyday wear. It's alloyed with other metals (like copper, silver, zinc) to increase its durability and change its color. The karat rating indicates the proportion of pure gold in the item:

• 24K: 100% pure gold.
• 22K: 91.7% pure gold (22 parts gold, 2 parts other metals).
• 18K: 75.0% pure gold (18 parts gold, 6 parts other metals).
• 14K: 58.3% pure gold (14 parts gold, 10 parts other metals).
• 10K: 41.7% pure gold (10 parts gold, 14 parts other metals).

The higher the karat, the higher the percentage of pure gold, and thus, the higher the value per unit of weight.

3. Current Market Price of Gold

The price of gold fluctuates daily based on global economic conditions, supply and demand, geopolitical events, and currency values. The market price is typically quoted per troy ounce of pure (24K) gold. Our calculator uses this market price to determine the base value of the pure gold content in your scrap.

4. Dealer Payout Rate

When you sell gold scrap to a dealer, they will not pay you 100% of the current market value of the pure gold content. This is because they need to cover their operational costs, refining fees, and make a profit. Payout rates typically range from 70% to 95% of the market value, depending on the dealer, the quantity of gold, and current market conditions. It's always wise to shop around and compare offers from different buyers.

How to Use the Gold Scrap Value Calculator

1. Weigh Your Gold: Accurately weigh your gold items. If you have items of different karats, weigh them separately. Select the appropriate unit (grams, troy ounces, or pennyweights).
2. Identify Karat: Check for hallmarks or stamps on your gold items (e.g., "14K", "18K", ".925" for silver, etc.). Select the corresponding karat from the dropdown.
3. Enter Market Price: Input the current market price of pure gold per troy ounce. You can find this on financial news websites or precious metal dealer sites.
4. Estimate Dealer Payout: Enter the percentage you expect a dealer to pay. A common starting point is 80-85%, but this can vary.
5. Calculate: Click the "Calculate Value" button to get an estimated payout.

Example Calculation:

Let's say you have 10 grams of 14K gold. The current market price for pure gold is $2000 per troy ounce, and a dealer offers an 85% payout rate.

• Weight: 10 grams
• Karat Purity: 14K = 14/24 = 0.5833 (58.33% pure gold)
• Market Price per Gram: $2000 / 31.1035 grams/ozt = $64.30 per gram (approx.)
• Pure Gold Content: 10 grams * 0.5833 = 5.833 grams of pure gold
• Market Value of Pure Gold: 5.833 grams * $64.30/gram = $375.00 (approx.)
• Estimated Payout (85%): $375.00 * 0.85 = $318.75

This calculator provides a valuable estimate, empowering you with information before you sell your gold scrap.