Instantly calculate the melt value of your scrap gold based on weight, karat purity, and today's spot price.
| Karat | Purity | Parts Gold | Common Uses |
|---|---|---|---|
| 24K | 99.9% | 24/24 | Bullion, coins |
| 22K | 91.6% | 22/24 | High-end jewelry |
| 18K | 75.0% | 18/24 | Fine jewelry |
| 14K | 58.5% | 14/24 | Everyday jewelry |
| 10K | 41.7% | 10/24 | Budget jewelry |
| 9K | 37.5% | 9/24 | Economy pieces |
Quick Tip: The karat stamp is usually found on the clasp of necklaces, inside the band of rings, or on the post of earrings. Common stamps include "750" (18K), "585" (14K), and "417" (10K).
DWT (Pennyweight): A traditional unit used by jewelers. There are 20 pennyweights in one troy ounce. Many gold buyers quote prices per pennyweight.
Essential advice for purchasing scrap gold profitably and building trust with your sellers.
Never trust a karat stamp at face value — counterfeit markings on plated and gold-filled items are more common than you'd expect. Invest in both an acid test kit and an electronic tester so you can verify purity on the spot. Acid kits are inexpensive and highly reliable: scratch the piece on a testing stone, apply the acid for the claimed karat, and watch the reaction. Electronic testers give you a fast, non-destructive second opinion. Using both methods together virtually eliminates the risk of overpaying for misrepresented gold. Shop gold test kits here →
Your profit margin lives and dies by the spread between what you pay and the current melt value. Check the spot price from a reliable source — Kitco, Bloomberg, or the LBMA — before every buying session, and keep it visible on your phone or screen while you work. Gold can swing $20–$40 per ounce in a single day. Knowing the real-time number lets you make confident offers and protects you from locking in a price that the market has already moved past.
A quality digital scale accurate to 0.01 grams is non-negotiable for any serious gold buyer. Calibrate it regularly with certified test weights, and always weigh in front of the seller to build trust and transparency. Being able to show readings in troy ounces, grams, and pennyweights lets you speak each seller's language. A discrepancy of just one gram on a 14K piece means roughly $30 at today's prices — over dozens of transactions, sloppy weighing eats your margins fast. Shop precision gold scales here →
Always separate incoming scrap into groups by karat before calculating your offer. Mixing everything together and estimating an average purity is a recipe for overpaying on lower-karat pieces or losing deals by underbidding on higher-karat lots. Weigh each karat group individually, calculate the melt value for each, and present the seller with a clear, itemized breakdown. This transparency builds seller confidence and earns you repeat business.
Your buy price must account for every cost between the purchase and the payout from your refiner. Refining fees, shipping, insurance, and assay charges all cut into your margin. Most buyers target paying 70–85% of melt value to stay profitable after these expenses. Use the calculator at the top of this page to quickly check the melt value for any weight and karat before making an offer — plug in today's spot price, enter the weight, and you'll know instantly whether a deal is worth taking. Bookmark this site so it's always one tap away when you're buying on the go.
The most profitable gold buyers aren't the ones who squeeze every transaction — they're the ones who build a steady pipeline of repeat sellers. Be transparent about how you calculate your offers, show the spot price and the scale reading, and explain your margin honestly. Fair, consistent pricing earns word-of-mouth referrals that no advertising can match. A seller who trusts you will bring you every piece they find, and that reliable volume is where the real money is made.