Scrap gold calculator: how much is your gold worth?
Enter the weight and karat of your scrap gold or jewelry to see what the gold in it is worth at today's spot price of $5,563.07 per troy ounce. This gold calculator returns the melt value: the gold content only, before any dealer discount.
Uses the spot price from GoldAPI.io, updated . Your entries stay in your browser.
How the melt value is calculated
Melt value = weight in grams × (karat ÷ 24) × spot price per gram. One troy ounce is 31.1035 grams and one pennyweight is 1.5552 grams.
Weigh items on a scale that reads to at least 0.1 gram, and check the karat stamp: 10K or 417, 14K or 585, 18K or 750, 22K or 916. Remove stones first if you can, because their weight inflates the result.
What a dealer will actually pay
Buyers pay a percentage of melt value, not the full amount. The gap covers testing, refining, the refiner's fees and the buyer's margin, and it differs a lot between buyers and between scrap jewelry and recognized bullion.
Example only, not market data: if a buyer offered between 70% and 85% of melt, a melt value of $1,000 would mean an offer of $700 to $850. Enter a buyer's actual percentage above to see what their offer works out to.
Get written quotes from more than one buyer and ask whether the price is per gram of the item or per gram of pure gold.
This calculator gives an estimate for information only. It is not an offer to buy and not an appraisal.
Common questions
How much is scrap gold worth per gram in Canada?
At the current spot price, the gold in 10K scrap is worth $74.52 per gram, 14K $104.33, 18K $134.14 and 22K $163.95. Those are melt values; a buyer pays a percentage of them.
How do gold buyers calculate what to pay?
Most buyers weigh the item, test its karat, work out the melt value from the day's spot price, and then offer a percentage of that melt value. Ask each buyer which percentage they pay and whether their price is per gram of the item or per gram of pure gold.
How much will a pawn shop give for gold?
There is no set rate. Pawn shops, jewelers, dealers and refiners each pay their own percentage of melt value, and a pawn loan is usually a smaller amount than an outright sale. Use the calculator to find the melt value first, then compare written offers.
How do I know what karat my gold is?
Look for a stamp on the clasp, inside a ring band or on a tag: 10K or 417, 14K or 585, 18K or 750, 22K or 916. Marks such as GP, GF or HGE mean gold-plated or gold-filled, which contain very little gold. If there is no stamp, a buyer can test it with acid or an X-ray fluorescence (XRF) analyzer.
Is it worth selling gold jewelry for scrap?
It depends on the piece. Plain, damaged or out-of-style jewelry is usually valued for its gold alone, so the melt value is a fair starting point. Designer, antique or gem-set pieces can be worth more as jewelry than as metal, so get them appraised before selling for scrap.
Where can I sell gold in Canada?
Common options are bullion dealers, gold buyers and refiners, jewelers and pawn shops, in person or by mail. Get written quotes from more than one buyer, have the item weighed in front of you, and check reviews before mailing anything.