Scrap Gold Calculator

Scrap Gold Value Calculator

function calculateScrapGoldValue() { var totalWeightGrams = parseFloat(document.getElementById("totalWeightGrams").value); var goldPurityKarat = parseFloat(document.getElementById("goldPurityKarat").value); var currentGoldPrice = parseFloat(document.getElementById("currentGoldPrice").value); var refinerPayout = parseFloat(document.getElementById("refinerPayout").value); var resultDiv = document.getElementById("scrapGoldResult"); if (isNaN(totalWeightGrams) || isNaN(goldPurityKarat) || isNaN(currentGoldPrice) || isNaN(refinerPayout)) { resultDiv.innerHTML = "Please enter valid numbers for all fields."; return; } if (totalWeightGrams <= 0 || currentGoldPrice <= 0) { resultDiv.innerHTML = "Weight and Gold Price must be positive values."; return; } if (refinerPayout 100) { resultDiv.innerHTML = "Refiner Payout Percentage must be between 0 and 100."; return; } // Convert Karats to decimal purity var purityDecimal = goldPurityKarat / 24; // Calculate pure gold weight var pureGoldWeight = totalWeightGrams * purityDecimal; // Calculate market value of pure gold var marketValueOfPureGold = pureGoldWeight * currentGoldPrice; // Calculate estimated payout var estimatedPayout = marketValueOfPureGold * (refinerPayout / 100); resultDiv.innerHTML = "

Calculation Results:

" + "Pure Gold Weight: " + pureGoldWeight.toFixed(2) + " grams" + "Market Value of Pure Gold: $" + marketValueOfPureGold.toFixed(2) + "" + "Estimated Payout: $" + estimatedPayout.toFixed(2) + "" + "This is an estimated value. Actual payout may vary based on refiner's policies and market fluctuations."; } .calculator-container { font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif; background-color: #f9f9f9; padding: 25px; border-radius: 10px; box-shadow: 0 4px 12px rgba(0, 0, 0, 0.1); max-width: 500px; margin: 30px auto; border: 1px solid #e0e0e0; } .calculator-container h2 { text-align: center; color: #2c3e50; margin-bottom: 25px; font-size: 1.8em; } .form-group { margin-bottom: 18px; } .form-group label { display: block; margin-bottom: 8px; color: #34495e; font-weight: bold; font-size: 0.95em; } .form-group input[type="number"], .form-group select { width: calc(100% – 20px); padding: 12px; border: 1px solid #ccc; border-radius: 6px; font-size: 1em; box-sizing: border-box; transition: border-color 0.3s ease; } .form-group input[type="number"]:focus, .form-group select:focus { border-color: #007bff; outline: none; box-shadow: 0 0 5px rgba(0, 123, 255, 0.2); } .calculate-button { display: block; width: 100%; padding: 14px; background-color: #28a745; color: white; border: none; border-radius: 6px; font-size: 1.1em; font-weight: bold; cursor: pointer; transition: background-color 0.3s ease, transform 0.2s ease; margin-top: 25px; } .calculate-button:hover { background-color: #218838; transform: translateY(-2px); } .calculator-result { margin-top: 30px; padding: 20px; background-color: #e9f7ef; border: 1px solid #d4edda; border-radius: 8px; color: #155724; font-size: 1.05em; line-height: 1.6; } .calculator-result h3 { color: #2c3e50; margin-top: 0; margin-bottom: 15px; font-size: 1.4em; border-bottom: 1px solid #d4edda; padding-bottom: 10px; } .calculator-result p { margin-bottom: 10px; } .calculator-result .highlight { font-size: 1.3em; color: #007bff; font-weight: bold; } .calculator-result .error { color: #dc3545; font-weight: bold; } .calculator-result .note { font-size: 0.9em; color: #6c757d; margin-top: 15px; border-top: 1px dashed #d4edda; padding-top: 10px; }

Understanding Your Scrap Gold Value

Selling old or broken gold jewelry, dental gold, or other gold items can be a great way to unlock hidden value. However, determining the true worth of your scrap gold isn't always straightforward. This calculator helps you estimate the value of your gold based on key factors.

What is Scrap Gold?

Scrap gold refers to any gold item that is no longer wanted in its current form and is intended to be melted down and refined. This can include:

• Broken or damaged jewelry (rings, necklaces, bracelets, earrings)
• Unmatched earrings or single pieces
• Old gold coins or bullion that are not considered collectible
• Dental gold (gold crowns, bridges)
• Industrial gold waste

Factors Influencing Scrap Gold Value

The value of your scrap gold is primarily determined by four critical factors:

1. Total Gold Weight: This is the gross weight of your gold item, usually measured in grams or troy ounces. The more gold you have, the potentially higher its value.
2. Gold Purity (Karats): Gold purity is measured in karats (K). Pure gold is 24K. Most jewelry is an alloy (mix of gold and other metals) to increase durability. Common purities include 10K, 14K, 18K, and 22K. The higher the karat number, the higher the percentage of pure gold in your item. For example, 14K gold is 14 parts gold out of 24 total parts, meaning it's approximately 58.3% pure gold.
3. Current Gold Price (Market Price): The price of gold fluctuates daily based on global supply and demand, economic conditions, and geopolitical events. This is typically quoted per troy ounce or per gram. Our calculator uses the price per gram for convenience.
4. Refiner Payout Percentage: When you sell scrap gold, buyers (refiners, jewelers, pawn shops) don't pay you the full market value of the pure gold content. They need to cover their operational costs, refining fees, and make a profit. This is reflected in their "payout percentage," which is the percentage of the market value they offer you. This percentage can vary significantly between buyers, often ranging from 70% to 95%.

How to Use the Scrap Gold Value Calculator

Our calculator simplifies the process of estimating your gold's worth:

1. Enter Total Gold Weight (grams): Carefully weigh your gold items. A digital kitchen scale or jewelry scale is recommended for accuracy.
2. Select Gold Purity (Karats): Check your gold items for a karat stamp (e.g., "10K", "14K", "18K", "24K"). If you have mixed purities, you'll need to weigh them separately and perform multiple calculations.
3. Input Current Gold Price (per gram): Look up the current spot price of gold. Many financial websites provide real-time gold prices. Convert the price to per gram if it's listed per troy ounce (1 troy ounce ≈ 31.1035 grams).
4. Enter Refiner Payout Percentage (%): This is an estimate. If you've received an offer, use their stated percentage. If not, you can use a common range like 80-90% to get a general idea, but remember to shop around for the best actual payout.
5. Click "Calculate Value": The calculator will then provide an estimated pure gold weight, the market value of that pure gold, and your estimated payout based on the percentage entered.

Example Calculation

Let's say you have 10 grams of 14K gold. The current gold price is $65.00 per gram, and a buyer offers an 85% payout.

• Purity Conversion: 14K / 24 = 0.5833 (58.33% pure gold)
• Pure Gold Weight: 10 grams * 0.5833 = 5.833 grams
• Market Value of Pure Gold: 5.833 grams * $65.00/gram = $379.15
• Estimated Payout: $379.15 * 0.85 = $322.28

This means you could expect to receive approximately $322.28 for your 10 grams of 14K scrap gold.

Tips for Selling Scrap Gold

• Know Your Gold: Understand its weight and purity before approaching buyers.
• Shop Around: Get quotes from multiple reputable buyers (local jewelers, online refiners, coin dealers). Payout percentages can vary significantly.
• Check Reputation: Look for buyers with good reviews and transparent pricing.
• Be Wary of "Cash for Gold" Scams: Some less reputable buyers may offer very low payout percentages or use inaccurate scales.
• Consider the Market: If gold prices are high, it might be a better time to sell.

Using this calculator empowers you with knowledge, helping you make informed decisions when selling your scrap gold.