Cash for Gold Calculator
Estimate the scrap value of your gold jewelry instantly.
24K (99.9%)
22K (91.7%)
18K (75.0%)
14K (58.3%)
10K (41.7%)
9K (37.5%)
Grams (g)
Pennyweights (dwt)
Troy Ounces (ozt)
Most gold buyers pay 60% to 90% of the melt value.
Estimated Payout
Total Melt Value:
Estimated Cash Offer:
How to Calculate Your Gold's Value
Selling jewelry, coins, or scrap gold requires an understanding of how gold is priced. This Cash for Gold Calculator simplifies the process by factoring in the current market spot price, the purity (karat) of your items, and the typical dealer commission.
Understanding Gold Purity (Karats)
Gold is rarely used in its pure form for jewelry because it is too soft. Instead, it is alloyed with other metals. The "karat" system measures the ratio of gold to other metals:
- 24K: 99.9% Pure Gold
- 18K: 75% Gold (18 parts gold, 6 parts alloy)
- 14K: 58.3% Gold (14 parts gold, 10 parts alloy)
- 10K: 41.7% Gold (10 parts gold, 14 parts alloy)
The Calculation Formula
Our calculator uses the following mathematical approach to determine your gold's value:
- Convert Weight to Grams: If you use pennyweights (dwt) or ounces (oz), we convert them to grams (1 dwt = 1.555g; 1 troy oz = 31.1035g).
- Determine Price per Gram: We divide the current Spot Price by 31.1035.
- Adjust for Karat: We multiply the price per gram by (Karat / 24).
- Calculate Melt Value: We multiply the adjusted gram price by the total weight.
- Apply Dealer Percentage: Dealers need to make a profit and cover refining costs, so they usually pay a percentage (typically 70-80%) of the total melt value.
Example Calculation
If the spot price of gold is $2,000/oz and you have 10 grams of 14K gold:
- Price per gram: $2,000 / 31.1035 = $64.30
- 14K Purity: 14 / 24 = 0.583
- Value per gram of 14K: $64.30 × 0.583 = $37.49
- Total Melt Value: $37.49 × 10g = $374.90
- Dealer Offer (at 80%): $374.90 × 0.80 = $299.92