This tool helps estimate the melt value of your scrap gold jewelry.
Enter the current gold spot price, karat value, and the weight of your item
to get an approximate melt price in USD.
Historical Insights
Gold has been used as a store of value for centuries.
In the United States, official gold prices were once set by the government, such as $35/oz.
After the Bretton Woods system ended in the 1970s, gold began trading freely.
Today, the spot price reflects global market demand and supply, changing throughout the day.
Sample Calculations
14K, 10 grams, Spot $1,800
Purity = 14/24 = 0.5833; 10 g = 10/31.1034768 ~ 0.3215 oz
Melt value ~ 0.3215 * $1,800 * 0.5833 ~ $337.06
24K, 5 grams, Spot $2,000
Purity = 24/24 = 1.0; 5 g = 5/31.1034768 ~ 0.161 oz
Melt value ~ 0.161 * $2,000 * 1.0 ~ $322.00
Customer Reviews
Marian, Pawn Shop Owner:
"The layout is so clear. Customers appreciate the 'Calculate' button for quick checks."
Diego, Collector:
"Using these numbers helps me decide whether it's worth selling old jewelry now."
Amelia, Jewelry Designer:
"A big time-saver for deciding if I should upcycle pieces or just melt them down."
Kevin, Online Reseller:
"I love having the historical context to share with curious sellers."
Sonia, Student:
"The examples made it easy to grasp how spot price and karat factor into value."
FAQ:
1. Why is my buyer offering less than the melt value?
Buyers include refining costs, overhead, and profit margins. The melt value is an upper estimate.
2. How can I test if an item is really 14K?
Look for stamps (14K, 585) or get an acid/electronic test. A jeweler can confirm purity if in doubt.
3. Should I remove stones first?
Yes. The calculator only accounts for gold weight, so remove stones for an accurate gold-only total.
4. Does spot price change daily?
Yes, it can change minute by minute based on global market factors.
5. Can I sell gold if it's unmarked?
Yes, but the buyer may test it and often pays less until purity is verified.
