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 designed to help you find out how much your scrap gold is worth. By entering details like the weight, purity, and current gold price, you can get an estimate on the value of your gold items. This calculator is perfect for anyone looking to sell unwanted gold jewellery or items, giving a clear picture of their potential worth.

How to Input Your Gold's Details

To use the calculator, you'll need to input specific information. The main areas to focus on include:

  • Weight: Enter the weight of your gold in grams, troy ounces, or pennyweight.
  • Purity: Choose the purity level of your gold, such as 24K, 22K, or 18K.
  • Gold Price: Provide the current market price of gold per troy ounce.

These inputs are essential for accurately calculating the gold's value.

Adding Multiple Items

If you have several gold items to evaluate, the calculator allows you to add multiple entries. You can easily describe each item, along with its weight and purity. This makes it simple to see how much each piece contributes to your total scrap gold value. Just add as many items as you need, and the calculator will handle the rest.

Advanced Options for Accurate Calculations

The calculator also comes with advanced features to refine your results. You can adjust:

  • Decimal Places: Choose how precise you want your results to be.
  • Refining Fee: Decide whether to include a typical refining fee, which is often around 3%.
  • Melt Value Details: Opt to see a breakdown of the melt value calculation, helping you understand how the total is derived.

These options ensure you get a tailored calculation that suits your needs.

Results That Matter

Once you’ve input your data, the calculator generates detailed results. You’ll see the total estimated value of your gold, along with breakdowns of weight, purity, and even potential refining fees. This comprehensive output is invaluable for deciding whether to sell your gold now or hold onto it for a better price later.

Understanding Gold Purity and Measurements

Gold is measured in karats, which indicate its purity. Here’s a quick reference to common purity levels:

  • 24K: 99.9% pure
  • 22K: 91.7% pure
  • 18K: 75% pure
  • 14K: 58.3% pure
  • 10K: 41.7% pure

Moreover, weights can be measured in grams, troy ounces, or pennyweight. Knowing these measures will help you input the correct data.

Gold Prices and Market Trends

Gold prices fluctuate based on market conditions. Keeping an eye on these changes can help you decide when to sell your scrap gold. The calculator allows you to input the current gold price, ensuring your calculations reflect the most accurate market value. Remember, checking multiple sources can give you a better picture of the current price trends.

Why Use a Scrap Gold Calculator?

The Scrap Gold Calculator is not just a tool; it’s a resource for anyone interested in selling gold. With its easy-to-use interface, comprehensive results, and advanced options, it empowers users to make informed decisions. Whether you're cleaning out old jewellery or considering a larger sale, knowing the estimated value of your gold can help you in negotiations and sales.