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Your Top Gold Questions, Answered
To find your gold’s value, you need three key things: its weight in grams, its purity (karat), and the current market price of gold, known as the “spot price.” Our scrap gold calculator does the hard work for you by multiplying these figures together to give you an instant and accurate melt value.
Karat is simply a measure of your gold’s purity out of 24 parts, where 24k is 100% pure gold. For instance, 14k gold means your item is made of 14 parts pure gold and 10 parts other metals, making it 58.3% pure.
Look closely at your item for a small stamp, called a hallmark, which is often found on the clasp, the inside of a ring, or on a post. You’ll typically see a mark like “10k,” “14k,” “18k,” or a three digit number like “417” (for 10k), “585” (for 14k) or “750” (for 18k).
The spot price is the live market price for one troy ounce of pure 24k gold, and it fluctuates constantly based on global trading. Our calculator uses this real time data to ensure your estimate is always based on the most up to date pricing.
The spot price you see in the news is for pure 24k gold, but a 14k piece contains only 58.3% pure gold. Therefore, your necklace’s value is calculated based on its actual gold content, not the full 24k spot price.
A digital kitchen scale can give you a rough estimate, but for the most accurate result, we recommend a small digital jeweler’s scale, which you can find online for a low cost. Precision is key, as even a fraction of a gram can make a difference in the total value.
Our gold calculator shows you the full 100% melt value to serve as your benchmark. In the real world, buyers will offer you a percentage of that value, typically between 70% and 95%, to cover their costs and make a profit.
The simple formula is: (Weight in Grams) × (Purity as a Decimal) × (Current Gold Price Per Gram). Our calculator automates this entire equation for you so you don’t have to worry about complex manual calculations.
Our calculator shows you the total melt value, not the final payout from a buyer. Think of our calculated value as your powerful negotiating tool—it’s the highest possible number you should use as a starting point when getting offers.
The best time to sell is when gold prices are high, and our calculator is always synced with live market rates. You can use our tool to track the value of your items daily, helping you spot price spikes and decide when it’s the most profitable time to sell.