This calculator helps you estimate the market value of your scrap gold items. Scrap gold refers to any old, broken, or unwanted gold jewelry, coins, or artifacts that are typically melted down and refined to create new gold products. The value is determined by the weight, purity (karat), and the current market price of pure gold.
How the Calculation Works
The formula used by this calculator is straightforward:
Step 1: Determine the pure gold content.
The purity of gold is measured in karats. 24 karat (24K) is considered pure gold (99.9%). Lower karats indicate a gold alloy, meaning the item contains other metals. The percentage of pure gold is calculated based on the karat value. For example:
24K = 99.9% pure gold
22K = (22 / 24) * 100% ≈ 91.7% pure gold
18K = (18 / 24) * 100% = 75.0% pure gold
14K = (14 / 24) * 100% ≈ 58.3% pure gold
10K = (10 / 24) * 100% ≈ 41.7% pure gold
If you select "Other," you can manually enter the exact purity percentage.
Step 2: Calculate the net weight of pure gold.
Multiply the total weight of your scrap gold in grams by the percentage of pure gold (determined in Step 1).
Pure Gold Weight (grams) = Total Weight (grams) * (Karat / 24) or Total Weight (grams) * (Manual Purity % / 100)
Step 3: Calculate the estimated market value.
Multiply the net weight of pure gold by the current market price of gold per gram.
Estimated Value = Pure Gold Weight (grams) * Price Per Gram
Example Calculation
Let's say you have:
Weight: 15 grams
Karat Purity: 18K
Current Gold Price per Gram: $60.00
Calculation:
Pure gold content for 18K = 75.0%
Pure gold weight = 15 grams * 0.750 = 11.25 grams
Estimated value = 11.25 grams * $60.00/gram = $675.00
Therefore, the estimated scrap value of your item is $675.00. Note that this is a market value; actual buy-back prices from dealers may be lower due to refining costs and profit margins.
Why Use This Calculator?
Before selling your gold, this tool provides a baseline estimate of its worth. It empowers you to understand the intrinsic value of the gold content, helping you negotiate better deals with buyers or refine your own understanding of precious metals. Always cross-reference with current market prices for the most accurate results.
var karatSelect = document.getElementById("karat");
var manualPurityGroup = document.getElementById("manualPurityGroup");
var manualPurityInput = document.getElementById("manualPurity");
karatSelect.onchange = function() {
if (karatSelect.value === "other") {
manualPurityGroup.style.display = "flex";
} else {
manualPurityGroup.style.display = "none";
manualPurityInput.value = ""; // Clear manual input if 'other' is deselected
}
};
function calculateScrapGoldValue() {
var weightGramsInput = document.getElementById("weightGrams");
var pricePerGramInput = document.getElementById("pricePerGram");
var resultDiv = document.getElementById("result");
var resultValueDiv = document.getElementById("result-value");
var weightGrams = parseFloat(weightGramsInput.value);
var pricePerGram = parseFloat(pricePerGramInput.value);
var karat = parseFloat(karatSelect.value);
var manualPurity = parseFloat(manualPurityInput.value);
var purityPercentage = 0;
if (isNaN(weightGrams) || isNaN(pricePerGram)) {
alert("Please enter valid numbers for weight and price per gram.");
return;
}
if (karatSelect.value === "other") {
if (isNaN(manualPurity) || manualPurity 100) {
alert("Please enter a valid manual purity percentage between 1 and 100.");
return;
}
purityPercentage = manualPurity / 100;
} else {
if (isNaN(karat) || karat 24) {
alert("Please select a valid Karat purity.");
return;
}
purityPercentage = karat / 24;
}
var pureGoldWeight = weightGrams * purityPercentage;
var estimatedValue = pureGoldWeight * pricePerGram;
resultValueDiv.innerHTML = "$" + estimatedValue.toFixed(2);
resultDiv.style.display = "block";
}