What is the scrap or melt value of gold?

It is the intrinsic dollar value of the pure gold content in a piece, calculated from its weight, karat purity, and the current spot price. It excludes craftsmanship, brand, or collectible premiums.

Why do dealers pay less than the melt value?

Dealers factor in refining costs, overhead, and profit margin — typically paying 70–90% of melt value. Knowing the melt value helps you negotiate a fair price.

How do I find today's gold spot price?

Visit Kitco.com, GoldPrice.org, or search "gold spot price" in your browser. The price changes throughout the trading day. Enter the current value in the Spot Price field.

What does karat mean?

24 karat is 99.9% pure gold. 18K is 18/24 = 75% pure, 14K is 58.3% pure, 10K is 41.7% pure, and so on. Higher karat means more gold content and higher melt value per gram.

What is a pennyweight (dwt)?

A pennyweight is a traditional unit used by jewelers. 1 troy ounce = 20 pennyweights = 31.1035 grams. Select "dwt" from the unit dropdown if your scale shows pennyweights.

Is the scrap value the same as the jewelry's resale value?

No. Resale value (especially for brand-name or antique pieces) can exceed melt value considerably. Melt value is the floor — the minimum metal worth — not the ceiling.

Scrap Gold Value Calculator

Name: Scrap Gold Value Calculator
Availability: InStock
Author: Nham Vu

Enter your gold weight, karat, and spot price to instantly calculate its scrap or melt value.

Gold Details

Weight

Karat

Gold Spot Price (USD / troy oz)

Check Kitco or GoldPrice.org for the current rate.

Dealer Payout Rate (80%)

50%75%100%

Scrap Value

Enter a weight above to see results.

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Summary

Enter your gold weight, karat, and spot price to instantly calculate its scrap or melt value.

How it works

Enter the weight of your gold piece and select the unit (grams, pennyweights, or troy ounces).
Select the karat purity (8K through 24K) — the calculator converts it to a fine gold percentage automatically.
Enter the current gold spot price per troy ounce (check a live source such as Kitco or Gold Price).
The scrap value updates instantly, showing pure gold weight and total dollar value.
Adjust any input and the result recalculates in real time — no button press needed.

Use cases

Estimate fair payout before selling jewelry to a gold buyer or pawn shop.
Compare offers from multiple dealers against the actual melt value.
Value an estate or inherited gold collection before appraisal.
Track the metal value of a gold holding as spot prices change.
Quickly convert between different gold weight units.
Understand the premium a retailer charges over melt value when buying jewelry.

Frequently Asked Questions

Last updated: 2026-07-24 · Reviewed by Nham Vu