Scrap Gold Calculator

Our Scrap Gold Calculator is your go-to tool for calculating the value of gold you have at home based on the live gold price of $. Many of us have some form of gold lying around at home—sometimes more than we think. The gold scrap calculator is simple to use: just enter your gold’s weight in grams, ounces, or milligrams, select the purity level in karats, and choose between USD or CAD for currency. This tool uses up-to-the-minute gold market prices to provide a quick, reliable estimate, helping you understand what to expect when selling your scrap gold. Perfect for gold buyers, sellers, and investors alike!

How to Use the Scrap Gold Calculator

1. Enter the Weight of Your Gold: Start by weighing the gold item you want to evaluate. The calculator allows you to enter the weight in grams, milligrams, or ounces. Select the unit that matches your measurement and enter the value in the input field.
2. Choose the Weight Unit: In the dropdown menu labeled “Select Unit,” choose the unit you used to measure your gold. This ensures the calculator accurately converts the weight for calculation, whether you measured it in grams, milligrams, or ounces.
3. Select the Purity Level (Karat): Gold purity is measured in karats, with 24K being pure gold. If you’re unsure about the karat value of your gold item, check for a stamp or marking on the piece, most jewelry has the purity marked, for example a ring could have the gold purity mark stamped inside the of the ring. The calculator provides options from 8K to 24K, so select the karat level that matches your item’s purity.
4. Choose Your Currency (USD or CAD): The calculator lets you choose between USD and CAD for the final estimate. This allows you to see the gold value in the currency that’s most relevant to you if you’re from Canada or the United States.
5. Calculate the Value: Once you’ve entered the weight, selected the unit and purity, and chosen the currency, click the “Calculate Value” button. The calculator will instantly display the estimated value of your scrap gold based on the live gold price.
6. Review the Results: Below the calculator, you’ll see a detailed breakdown of your gold’s estimated value. This includes:
   • The total estimated value in your selected currency
   • The weight you entered, converted to grams for consistency
   • The purity percentage based on the karat level you selected
   • The current price per gram in USD for transparency

Using this calculator helps you get an accurate estimate of your scrap gold’s worth, giving you confidence in understanding its value before you sell.

Why Use The Scrap Gold Calculator?

We all have that drawer at home full of unused jewelry that could be worth thousands—or it might only bring in a few bucks. Personally, I’m an avid collector of precious metals in many forms, from gold coins and silver to other valuable metals. Sometimes, though, life brings unexpected expenses. For example, in winter, my energy bills tend to spike, and I occasionally find myself needing to sell some of my gold. I created this calculator for that exact reason—to quickly and easily find out the current value of my gold. You can also try the scrap silver calculator if you have some silver you want to sell.

Of course, gold can carry a value far beyond money. Gold jewelry often holds sentimental value, reminding us of loved ones or important moments. If that’s the case for you, I recommend thinking twice before selling those pieces, especially if they carry significant emotional meaning. However, with this Scrap Gold Calculator, you can at least get an idea of their worth in U.S. or Canadian dollars, which can help inform your decision.

Broken gold jewelry may not look like much, but it can still be valuable. Don’t toss out that broken necklace or damaged ring just because it’s no longer wearable. Buyers will often melt down gold items, even broken ones, to create gold bars or new pieces, which they can then resell at a later date. So, even if it’s damaged, your gold jewelry has value.

If you own a small business or a local pawn shop, our Scrap Gold Calculator can help you accurately assess the value of scrap gold before you accept it. Knowing the exact worth of broken or unused gold pieces ensures that you’re making smart, informed transactions. This tool provides a reliable, quick way to calculate scrap gold value, so you can confidently buy and sell gold at fair prices.

Everything You Should Know Before Selling Your Scrap Gold for Cash

Maybe the recent price of gold has perked your interest, or a local gold buying business caught your eye, as you drove by in your car, but whatever the case may be, you realize you have a few pieces of broken or unwanted gold jewelry. You wonder how much it is worth, or perhaps you see visions of a stack of cash, and it’s found money that was lying around the house. However, before you get too many ideas about your unwanted gold jewelry, there are a few things you should know.

An explanation of a karat

You may have heard the word karat when hearing or reading about gold jewelry, but are unsure exactly what it means. Karat, not to be confused with carat, which is used for gems such as diamonds, is a way of describing the content of gold in jewelry. Because gold is a soft metal, it is rarely used in its pure form to make jewelry; over time, it will wear down. For this reason, it is combined with other metals to provide strength and longevity. Although there are many metals alloyed with gold, the thing to remember is that your gold jewelry is not 100 percent gold. Pure gold is considered to be 24 karats. Gold jewelry will have a certain percentage of gold.

How to determine the percentage of gold

Most gold jewelry will be stamped somewhere with the karat value. Once you know the karat, it is simple to figure the percentage. For example, 14-karat gold, a popular karat, is 58 percent gold. This is simply 14 divided by 24. Unfortunately, not all gold is stamped, so the gold will require testing. There are inexpensive test kits that you can purchase online or even locally at discount department stores. If you don’t want to bother with testing the gold, you can take your scrap gold with unknown karats to a local gold buyer. Here, they can test your gold, usually free of charge, but you should always call ahead before you go.

To make matters more complicated, knowing the amount of gold in your jewelry is not enough. If you have a scale handy, it is still not a matter of weighing the gold, then calculating the percentage of gold in the jewelry because the scale you may have at home is not calibrated to the same type of ounces used for gold. Gold, even when you see it quoted on television or listed on the internet, is in Troy ounces. A Troy ounce is heavier than an ounce by 2.75 grams, so when you weigh and calculate your gold, it will be lighter than you think; therefore, you will believe it is worth more than it is. To get an estimate of your gold in Troy ounces, simply take the ounces you have calculated, then multiply by 0.91.

Make sure your jewelry is truly scrap

Before you decide a piece of jewelry is scrap, you may consider having it appraised. Jewelry can be rare, and if broken, it can be repaired. More importantly are the gems that may be in your unwanted rings, necklaces and bracelets. You may have a gem worth more than you realize. You can sell a valuable gem separately to a dealer; otherwise, you may end up giving something valuable away without realizing it. The same holds true with coins. You may have gold coins with a lot of wear, but don’t assume they have no value. Although it is said that condition is everything with collectibles, scarcity is also important. Your worn gold coins may have more value as a coin than the scrap value of its gold.

It is important to understand the gold content of your jewelry because too often people will look at the price of gold as it rises to a level that makes the television news. You may start thinking about how much money you may have in scrap jewelry, but the number in your head may not be the dollar amount you can get from a gold buyer. After estimating the value of your scrap gold, you should understand that gold buyers are in business to make profit, just like any other business, so you will be offered less than the current value of gold. However, their offers may be slightly different, so always get more than one quote. If you don’t like the prices you’re hearing, you always have the option of holding on to your gold. It may be a good investment.

Final Thoughts

Calculating the value of scrap gold using live prices with a regular calculator can be overwhelming. Our simple, easy-to-use Scrap Gold Calculator takes the hassle out of the process, letting you quickly figure out how much you can get for your broken or unused jewelry. No need for complicated calculations—just enter a few details, and get an instant estimate based on live gold prices.

If you frequently buy and sell gold, consider saving this webpage to your home screen for quick access. With this tool at your fingertips, you can confidently check prices anytime, making it an essential resource for anyone dealing with scrap gold.