Scrap gold is worth a percentage of the gold spot price determined by the karat of the piece. At spot gold of $4,134.80 per troy ounce on October 7, 2026 (gold-api.com, 2026-10-07 07:29 UTC), 14K gold is worth $77.77 per gram in melt value. Buyers pay 70–90% of that, so a 14K ring weighing 5 grams nets you roughly $272–$350 at most buyers.
Check today’s figure with the scrap gold calculator.
Melt Value by Karat (October 7, 2026)
Calculation: Pure gold per gram = $4,134.80 ÷ 31.1034768 = $132.94/g. Multiply by the gold fraction for each karat.
| Karat | Fineness | Gold % | Melt value/gram | Melt value/pennyweight | Melt value/troy oz |
|---|---|---|---|---|---|
| 10K | 417 | 41.7% | $55.44 | $86.00 | $1,724.95 |
| 14K | 585 | 58.5% | $77.77 | $120.63 | $2,420.36 |
| 18K | 750 | 75.0% | $99.71 | $154.64 | $3,101.10 |
| 22K | 917 | 91.7% | $121.90 | $189.05 | $3,793.42 |
| 24K | 999 | 99.9% | $132.81 | $205.97 | $4,130.65 |
These are melt values. Dealers pay less — see the payout section below.
Worked Example: Valuing a Jewelry Collection
Imagine you have three pieces stamped and weighed:
| Piece | Karat | Weight | Melt value |
|---|---|---|---|
| Broken chain | 14K | 6.2 g | 6.2 × $77.77 = $482.17 |
| Old ring | 10K | 4.1 g | 4.1 × $55.44 = $227.30 |
| Earring (single) | 18K | 2.8 g | 2.8 × $99.71 = $279.19 |
| Total | 13.1 g | $988.66 |
At an 80% payout rate, you would receive approximately $791. At 70%, it would be about $692. Comparing offers from three buyers is worth the effort.
How to Determine Your Gold’s Karat
- Look for the stamp inside the band or on the clasp. Common US marks: 10K, 14K, 18K. Common European fineness stamps: 417, 585, 750.
- If there is no stamp, test with an acid kit or have a jeweler run an XRF test. See how to test gold at home.
- Weigh on a scale reading to 0.1 g. Subtract the weight of any stones if you can.
For more on stamps, see how to read jewelry hallmarks.
What Buyers Pay vs. Melt Value
No buyer pays 100% of melt — they need to cover refining costs, overhead, and margin.
The ranges below are typical for normal market conditions — check current dealer listings and request written payout percentages before selling, as rates vary by buyer and change over time.
| Buyer type | Typical payout (% of melt) |
|---|---|
| Online/mail-in precious metals refiner | 85–92% |
| Local coin dealer | 75–85% |
| Local jeweler | 70–80% |
| Cash-for-gold kiosk or mall buyer | 50–65% |
| Pawn shop | 40–60% |
The payout percentage matters more than the location. A mail-in refiner that pays 90% of melt beats a local buyer that pays 65%, even after shipping costs.
Request the payout percentage in writing before sending anything. You can calculate what an offer implies about their payout: divide the offer by the melt value you calculated above.
Factors That Can Push Value Higher or Lower
Higher:
- Coins (pre-1933 US gold coins, gold Eagles, Krugerrands) may carry a numismatic or collector premium above melt. Have them identified before selling as scrap.
- Branded or designer pieces (Cartier, Tiffany, Bulgari) may sell as jewelry for more than melt to the right buyer.
- High-purity pieces (22K, 24K) have less refining overhead per ounce, so some buyers pay a slightly higher percentage.
Lower:
- Gemstone-set pieces: buyers typically pay for gold only. Large stones must be removed or their weight deducted.
- Gold-filled (GF) and rolled gold plate are priced differently — they do contain real gold but at far lower percentages than karat jewelry.
- Gold plate (GP, GE, HGE) has essentially no scrap value; the gold layer is thinner than a human hair.
- Very small pieces may not be worth the minimum handling fees at refiners.
Why the Same Karat Piece Gets Different Offers
Two buyers can offer different amounts for identical gold because:
- They use different payout percentages.
- They weigh the piece differently (some weigh in grams, some in pennyweights or troy ounces — make sure you understand the units).
- One buyer deducts for stones or solder while another does not.
- Spot price changed between quotes.
Always compare offers on the same day with the same spot price as the reference. Use the dealer payout calculator to evaluate what each offer implies about the payout rate.
Prices Change Daily
The figures above use the snapshot price from October 7, 2026. Gold is priced in real time and moves daily — sometimes significantly. Always use the scrap gold calculator for a current figure before making any selling decision.
For guidance on the selling process itself — where to go, what to bring, and how to avoid common mistakes — see how to sell scrap gold.