Scrap Value Gold Calculator

Scrap Gold Value Calculator

24K (100% Pure) 22K (91.6% Pure) 20K (83.3% Pure) 18K (75% Pure) 14K (58.3% Pure) 10K (41.7% Pure) 9K (37.5% Pure)
function calculateScrapGoldValue() { var goldWeight = parseFloat(document.getElementById("goldWeight").value); var goldKarat = parseFloat(document.getElementById("goldKarat").value); var marketPricePerGram = parseFloat(document.getElementById("marketPricePerGram").value); var refinerFeePercentage = parseFloat(document.getElementById("refinerFeePercentage").value); var resultDiv = document.getElementById("result"); resultDiv.innerHTML = ""; // Clear previous results if (isNaN(goldWeight) || goldWeight <= 0) { resultDiv.innerHTML = "Please enter a valid gold weight."; return; } if (isNaN(goldKarat) || goldKarat 24) { resultDiv.innerHTML = "Please select a valid gold karat."; return; } if (isNaN(marketPricePerGram) || marketPricePerGram <= 0) { resultDiv.innerHTML = "Please enter a valid market price per gram."; return; } if (isNaN(refinerFeePercentage) || refinerFeePercentage 100) { resultDiv.innerHTML = "Please enter a valid refiner's fee percentage (0-100)."; return; } // Calculate purity factor var purityFactor = goldKarat / 24; // Calculate pure gold content var pureGoldContent = goldWeight * purityFactor; // Calculate gross scrap value var grossScrapValue = pureGoldContent * marketPricePerGram; // Calculate net scrap value after refiner's fee var netScrapValue = grossScrapValue * (1 – (refinerFeePercentage / 100)); resultDiv.innerHTML = "

Calculation Results:

" + "Purity Factor: " + (purityFactor * 100).toFixed(2) + "%" + "Pure Gold Content: " + pureGoldContent.toFixed(2) + " grams" + "Gross Scrap Value: $" + grossScrapValue.toFixed(2) + "" + "Refiner's Fee Amount: $" + (grossScrapValue – netScrapValue).toFixed(2) + "" + "Net Scrap Value: $" + netScrapValue.toFixed(2) + ""; } .calculator-container { font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif; background-color: #f9f9f9; border: 1px solid #ddd; border-radius: 8px; padding: 25px; max-width: 500px; margin: 30px auto; box-shadow: 0 4px 12px rgba(0, 0, 0, 0.08); } .calculator-container h2 { text-align: center; color: #333; margin-bottom: 25px; font-size: 1.8em; } .calculator-form .form-group { margin-bottom: 18px; } .calculator-form label { display: block; margin-bottom: 8px; color: #555; font-weight: bold; font-size: 0.95em; } .calculator-form input[type="number"], .calculator-form select { width: calc(100% – 22px); padding: 12px; border: 1px solid #ccc; border-radius: 5px; font-size: 1em; box-sizing: border-box; transition: border-color 0.3s ease; } .calculator-form input[type="number"]:focus, .calculator-form select:focus { border-color: #007bff; outline: none; box-shadow: 0 0 5px rgba(0, 123, 255, 0.2); } .calculator-form select { appearance: none; -webkit-appearance: none; background-image: url('data:image/svg+xml;charset=US-ASCII,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%22292.4%22%20height%3D%22292.4%22%3E%3Cpath%20fill%3D%22%23007bff%22%20d%3D%22M287%2069.4a17.6%2017.6%200%200%200-13-5.4H18.4c-6.5%200-12.3%203.2-16.1%208.1-3.8%204.9-4.6%2011-2.1%2016.9l139.3%20168.3c4.7%205.7%2011.7%209%2019.1%209s14.4-3.3%2019.1-9L289.1%2093.3c2.5-5.9%201.7-12-2.1-16.9z%22%2F%3E%3C%2Fsvg%3E'); background-repeat: no-repeat; background-position: right 12px top 50%; background-size: 12px auto; padding-right: 35px; } .calculate-button { display: block; width: 100%; padding: 14px; background-color: #007bff; color: white; border: none; border-radius: 5px; font-size: 1.1em; cursor: pointer; transition: background-color 0.3s ease, transform 0.2s ease; margin-top: 20px; } .calculate-button:hover { background-color: #0056b3; transform: translateY(-1px); } .calculator-result { margin-top: 30px; padding: 20px; background-color: #e9f7ff; border: 1px solid #b3e0ff; border-radius: 8px; color: #333; } .calculator-result h3 { color: #0056b3; margin-top: 0; margin-bottom: 15px; font-size: 1.4em; text-align: center; } .calculator-result p { margin-bottom: 10px; line-height: 1.6; font-size: 1em; } .calculator-result p strong { color: #003d7a; } .calculator-result .error { color: #dc3545; font-weight: bold; text-align: center; }

Understanding the Value of Your Scrap Gold

Whether you've inherited old jewelry, have broken gold items, or simply want to liquidate some assets, understanding the true value of your scrap gold is crucial. This calculator helps you estimate the worth of your gold items based on their weight, purity, current market prices, and typical refiner fees.

What is Scrap Gold?

Scrap gold refers to any gold item that is no longer desired in its current form and is intended to be melted down and refined. This can include old jewelry, dental gold, gold coins, or industrial gold waste. The value of scrap gold is determined by its pure gold content, not by its artistic or historical significance.

Key Factors in Calculating Scrap Gold Value

  1. Weight of Gold Item (grams): This is the total weight of your gold item. It's important to weigh only the gold part, removing any stones, pearls, or non-gold components. Jewelers often use specialized scales for accurate measurements.
  2. Gold Purity (Karat): Gold purity is measured in karats (K). Pure gold is 24K. Lower karat numbers indicate a lower percentage of pure gold mixed with other metals (alloys) to increase durability or change color.
    • 24K: 100% pure gold
    • 22K: 91.6% pure gold (22 parts gold, 2 parts alloy)
    • 18K: 75% pure gold (18 parts gold, 6 parts alloy)
    • 14K: 58.3% pure gold (14 parts gold, 10 parts alloy)
    • 10K: 41.7% pure gold (10 parts gold, 14 parts alloy)
    The higher the karat, the more pure gold your item contains, and thus, the higher its value.
  3. Current Market Price of 24K Gold (per gram): The price of gold fluctuates daily based on global economic factors, supply, and demand. This calculator uses the current market price of pure (24K) gold per gram as its baseline. You can find this price from various financial news sources or reputable gold dealers.
  4. Refiner's Fee (%): When you sell scrap gold, buyers (refiners, jewelers, pawn shops) typically don't pay the full market value for the pure gold content. They deduct a percentage as their fee for processing, refining, and their profit margin. This fee can range from 5% to 30% or more, depending on the buyer and the quantity of gold. Our calculator allows you to input an estimated fee to get a more realistic net value.

How the Calculator Works

Our Scrap Gold Value Calculator simplifies the process into a few easy steps:

  1. Input Gold Weight: Enter the total weight of your gold item in grams.
  2. Select Gold Purity: Choose the karat of your gold from the dropdown menu. This automatically determines the percentage of pure gold in your item.
  3. Enter Market Price: Input the current market price of 24K gold per gram.
  4. Specify Refiner's Fee: Enter the percentage fee that a potential buyer might deduct.
  5. Calculate: The calculator then determines:
    • Pure Gold Content: The actual weight of 24K gold present in your item.
    • Gross Scrap Value: The value of the pure gold content at the current market price, before any fees.
    • Net Scrap Value: The final estimated value you would receive after the refiner's fee is deducted.

Example Calculation:

Let's say you have a 10-gram 14K gold ring, the current market price for 24K gold is $65 per gram, and the refiner charges a 10% fee:

  • Gold Weight: 10 grams
  • Gold Purity: 14K (58.33% pure)
  • Market Price (24K): $65/gram
  • Refiner's Fee: 10%

Steps:

  1. Purity Factor: 14 / 24 = 0.5833
  2. Pure Gold Content: 10 grams * 0.5833 = 5.833 grams
  3. Gross Scrap Value: 5.833 grams * $65/gram = $379.15
  4. Refiner's Fee Amount: $379.15 * 10% = $37.92
  5. Net Scrap Value: $379.15 – $37.92 = $341.23

This calculator provides a valuable estimate, but remember that actual offers may vary. Always get multiple quotes from reputable buyers before selling your scrap gold.

Leave a Reply

Your email address will not be published. Required fields are marked *