Silver Recyclers Scrap Gold Calculator

Scrap Gold Value Calculator

Use this calculator to estimate the value of your scrap gold based on its weight, purity, current market price, and the recycler's payout percentage.

Grams (g) Troy Ounces (ozt)

10K (41.7%) 14K (58.3%) 18K (75.0%) 22K (91.7%) 24K (100%)

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Understanding Your Scrap Gold Value

Selling scrap gold can be a great way to convert old, broken, or unwanted jewelry and gold items into cash. However, understanding how its value is determined is crucial to ensure you get a fair price. This calculator helps demystify the process by breaking down the key factors.

What is Scrap Gold?

Scrap gold refers to any gold item that is no longer used for its original purpose and is intended for melting down and recycling. This can include broken chains, single earrings, dental gold, old coins, or even industrial gold waste. Its value is purely based on its gold content, not its aesthetic or historical significance.

Key Factors Influencing Scrap Gold Value:

1. Weight: This is the most straightforward factor. The more gold you have, the more it's worth. Weight is typically measured in grams (g) or troy ounces (ozt). Our calculator allows you to input either unit.
2. Purity (Karat): 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 Market Price of Gold: The price of gold fluctuates daily based on global economic conditions, supply, and demand. This calculator uses the current market price of 24K (pure) gold per troy ounce as its baseline. It's important to use an up-to-date price for an accurate estimate.
4. Recycler Payout Percentage: Gold recyclers and buyers need to cover their operational costs and make a profit. Therefore, they will offer you a percentage of the gold's actual market value. This percentage can vary significantly between buyers, typically ranging from 70% to 90% or sometimes even higher for larger quantities. Always shop around for the best payout percentage.

How the Calculator Works:

Our Scrap Gold Value Calculator takes these four factors into account:

1. It converts your gold's weight to a standard unit (troy ounces).
2. It determines the pure gold content by applying the karat purity percentage.
3. It calculates the market value of that pure gold content based on the current 24K gold price.
4. Finally, it applies the recycler's payout percentage to give you an estimated cash value.

Example Calculation:

Let's say you have 10 grams of 14K gold. The current market price for 24K gold is $2000 per troy ounce, and your chosen recycler offers an 80% payout.

• Purity Conversion: 14K is 14/24 = 0.5833 (58.33% pure gold).
• Weight Conversion: 10 grams / 31.1035 grams/troy ounce = 0.3215 troy ounces.
• Pure Gold Content: 0.3215 ozt * 0.5833 = 0.1876 troy ounces of pure gold.
• Market Value of Pure Gold: 0.1876 ozt * $2000/ozt = $375.20.
• Estimated Payout: $375.20 * 0.80 = $300.16.

This calculator provides a quick and easy way to get a realistic estimate before you visit a buyer.

Tips for Selling Scrap Gold:

• Know Your Gold: Test your gold's purity if you're unsure. Many jewelers offer this service.
• Get Multiple Quotes: Don't settle for the first offer. Contact several reputable buyers to compare their payout percentages.
• Check Market Prices: Stay informed about the current spot price of gold. Websites like Kitco.com are good resources.
• Understand the Process: Ask the buyer how they weigh and test the gold, and how they calculate their offer.
• Read Reviews: Choose buyers with good reputations and transparent practices.