Gold & Precious Metals Scrap Value Calculator
Enter a metal's weight, purity, and today's spot price to calculate its full melt value and an estimated scrap offer at a chosen percentage of that value.
Full melt value
$578.71
Estimated scrap offer
$491.91
Pure metal weight
7.50 g
"Melt value" is the full value of the pure precious metal content at today's spot price you enter — it is not a live price feed, so always check the current spot price yourself before relying on this. Scrap dealers typically pay a percentage of melt value rather than the full amount, to cover their refining and profit margin; 85% is a common starting estimate, but actual offers vary by dealer and by how much they trust your stated purity.
About this tool
How to use it
- Pick the metal (gold, silver, or platinum) and its purity — karat for gold, or a standard fineness for silver and platinum.
- Enter the weight and pick its unit (grams, pennyweight, or troy ounces).
- Enter today's spot price per troy ounce for that metal — this isn't looked up automatically, so check a live source first.
- Enter the percentage of melt value you expect a dealer to offer (85% is a common starting point), then press Calculate Value.
Why it matters
Gold and silver jewelry is rarely pure — a 14k ring is only 58.3% actual gold — so its scrap value is a fraction of what the weight alone might suggest, and dealers pay a further discount off even that reduced figure to cover refining costs and their own margin. Seeing the full melt value and a realistic scrap-offer estimate side by side helps set expectations before walking into a shop.
When to use it
Useful before selling old or broken jewelry for scrap, when comparing offers from different buyers against a baseline melt value, or when estimating what a piece is worth for insurance or estate purposes (though a formal appraisal is needed for those, not this estimate).
Good to know
The spot price field is not a live feed — enter today's actual spot price from a source you trust, since precious metal prices change throughout every trading day. The karat and fineness purities used here (10k/14k/18k/22k/24k for gold; 900/925/999 for silver; 900/950/999 for platinum) are the standard industry definitions, not brand-specific figures. The dealer offer percentage is a rough planning figure, not a quote — real offers vary by dealer, by how they verify your stated purity, and by local market conditions.
Common questions
Why isn't the spot price filled in automatically?
Precious metal spot prices change continuously throughout the trading day, and this calculator runs entirely in your browser with no server or live data feed — enter the current spot price from a source you trust (a metals exchange site, a dealer's posted price) for an accurate result.
Why is my scrap offer so much less than the melt value?
Melt value is a theoretical maximum — the full value of the pure metal content at spot price. Dealers pay less than that to cover refining costs, testing, and their own profit margin; 85% is a common starting estimate, but real offers range more widely depending on the dealer and how confident they are in your stated purity.
How accurate are the karat and fineness numbers?
The purity fractions used (e.g. 14k = 14/24 = 58.3% gold) are the standard industry definitions, not brand-specific or estimated figures. What can vary is whether your actual piece is exactly that purity — a hallmark stamp is usually reliable, but an unmarked or suspected piece may need professional testing to confirm.
Does this work for coins as well as jewelry?
Yes, as long as you know the coin's precious-metal content and weight — many bullion and pre-1965 US silver coins use standard finenesses like 90% or 99.9% that match the options here, though some historical or foreign coins use other purities you'd need to look up separately.
Should I sell for scrap or keep the piece?
That depends on factors this calculator can't see — sentimental value, whether the piece has collectible or antique value beyond its metal content, and whether a repair or resale as jewelry would be worth more than melt value. This tool only estimates the melt-value floor, not the ceiling.