Before any buyer makes you an offer on old jewelry, you should already know its melt value — it takes five minutes with a kitchen scale. The formula is the same one used for silver coins: weight × purity × spot price.
Step 1: Sort by karat
Check each piece for a stamp — usually on the clasp, inside a ring band, or on the post of an earring. US jewelry is mostly 10K, 14K or 18K; European pieces often use millesimal numbers instead (417, 585, 750). Sort into piles by karat, because they are valued differently. Full decoder in the karat purity chart.
Set aside anything marked GF, GP, RGP, HGE or 1/20 — gold-filled and plated items contain only traces of gold and are generally not worth selling for metal. Unmarked pieces need testing first — see how to test gold.
Step 2: Weigh in grams
A pocket or kitchen scale with 0.1 g resolution is fine for a first estimate. Weigh each karat pile separately. Two cautions: make sure the scale is in grams, not ounces or pennyweight (the unit trap), and subtract an estimate for any gemstones — buyers pay for metal only.
Step 3: Multiply by purity
| Karat | Purity | Fine gold per gram |
|---|---|---|
| 10K | 41.7% | 0.417 g |
| 14K | 58.3% | 0.583 g |
| 18K | 75.0% | 0.750 g |
| 22K | 91.7% | 0.917 g |
| 24K | 99.9% | 0.999 g |
Step 4: Multiply by the gold price per gram
Spot is quoted per troy ounce; divide by 31.1035 for the per-gram price (or read it directly from gold per gram).
Worked example: an 8.0 g 14K ring. Fine gold = 8.0 × 0.583 = 4.66 g. At $2,400/ozt spot, gold is $77.16/g, so melt value = 4.66 × $77.16 ≈ $360. The scrap gold calculator does all four steps at the live price — pick the karat, enter the weight.
What you’ll actually be offered
Nobody pays 100% of melt for scrap — refining, assay and margin come out of your end. Rough market reality: refiners and online gold buyers 85–95% of melt, local jewelers and coin shops 70–90%, pawn shops and mall kiosks often 50–70%. Get two or three quotes and compare them against your calculated number — sellers who walk in knowing their melt value consistently get better offers. The same advice applies to coins: where to sell.
Frequently asked questions
How much is a gram of 14K gold worth?
14K is 58.3% pure, so one gram of 14K contains 0.583 grams of fine gold. Multiply 0.583 by the gold price per gram (spot per troy ounce ÷ 31.1035). At $2,400 spot, that is about $45 per gram of 14K.
What percentage of melt value do gold buyers pay?
It varies widely: refiners and reputable online buyers commonly pay 85–95% of melt for clean karat scrap, local jewelers and coin shops 70–90%, and mall kiosks or 'cash for gold' mail-in outfits sometimes 50% or less. Knowing your melt number is what protects you.
Do gemstones count toward the weight?
No — buyers pay for gold content only. Estimate or have stones removed before weighing, or expect the buyer to deduct generously for them. Heavy stones in a light setting can flatter the scale dramatically.