Scrap gold calculator: what is your old gold worth?

How do you use the scrap gold calculator?

1. Choose your currency. The live spot price loads automatically.
2. Sort your pieces by the purity stamp (375, 585, 750 and so on). Our guide to gold hallmarks explains UK marks, and what is junk gold lists stamps that mean plated, not solid.
3. Weigh each group and type the weight into its row. Use pennyweight or tola if a buyer quotes in those units.
4. Optionally enter a buyer's payout percentage to turn melt value into a likely offer.

What is the formula behind it?

Gold purity is measured in karats out of 24, or in parts per thousand. Pure gold is 24 karat (999). The formula is:

Melt value = weight in grams x purity (for example 0.375) x (spot price per troy ounce / 31.1035)

A troy ounce is 31.1035 grams (NIST). The spot price is the live wholesale price for one troy ounce of pure gold. A buyer's offer is then melt value x payout percentage. The gap between the two is the buyer's margin, the scrap equivalent of the premium you pay when buying bullion.

What is each karat worth per gram today?

Spot-based melt values, updated live: Loading. These are not dealer prices. Buyers pay a percentage of these figures.

What do real scrap buyers pay per gram?

Two well-known buyers publish their rates. Comparing them with melt value shows how much of the gold's worth each hands back.

Hatton Garden Metals: published scrap prices captured 11 October 2026, compared with spot of £3,171.45/oz (gold-api.com). The Perth Mint: indicative jewellery buy prices stamped 10/10/2026, compared with the A$6,039.39/oz reference price on its site on 11 October; the timestamps differ, so the percentage is approximate. Perth Mint says final prices are set in store. Enter 84 or 77 in the payout box to model each buyer.

Worked examples

UK melt values at £3,171.45/oz, Australian at A$6,039.39/oz, US at US$4,195.60/oz (10 October 2026). HGM = Hatton Garden Metals. 22ct calculated at 91.67% purity.

The second example shows why sorting matters. Sold as one lot at a 9ct rate, those 8 grams would fetch 8 x £32.03 = £256.24, less than half the £554.94 the karat-by-karat rates add up to.

How can you get a better scrap gold price?

• Know the melt value first. It turns every offer into a percentage you can compare.
• Sort by karat. Never let a buyer weigh everything together at the lowest rate.
• Get two or three quotes, ideally from buyers that publish per-gram rates, and ask each to write down the weight and karat they recorded.
• Remove stones and steel. Large gems may be worth more than the gold; steel springs and watch movements add weight you will not be paid for.
• Check signed or antique pieces. A jeweller or auction house may pay more than scrap for designer or period jewellery.
• Keep coins and bars separate. Bullion is bought much closer to spot than jewellery. See how to sell gold coins.

Which scrap gold scams should you avoid?

The riskiest buyers are those you cannot check before handing over your gold. APMEX notes that cash-for-gold counters rarely show the purity and weight calculations behind their offer. Watch for:

• Mail-in kits with no published rates. Once your parcel arrives, you are negotiating from a weak position. Use a mail-in buyer only if it states per-gram prices, insures the parcel, and returns items free if you reject the offer.
• Short time limits. Some buyers treat silence as acceptance. Read the terms before posting.
• Weighing out of sight, or scales that read in an unusual unit without explanation.
• Door-to-door buyers and "gold parties" that pay cash on the spot with no written breakdown.

More warning signs are on our gold scams page.

What should you know in each country?

For the full selling process, including tax, read how to sell scrap gold. For coins and bars, use the gold value calculator, or browse all gold calculators.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.