Scrap gold calculator
There is no advanced scrap gold calculator available, so we decided to create one with live gold price changes so that you can calculate/estimate the returns you could generate with your scrap gold. Hope you enjoy it!
If you are ready to sell your scrap precious metals, complete the form below, we will be happy to hear from you to explain and negotiate our rates!
Contact us today to learn more about our current rates:
Scrap Gold Calculator
If you are looking for a scrap gold calculator online, you might have found thousands of results, but you also might be a little confused about how to use and interpret them.
In this article, we review everything you need to know to use a scrap gold calculator efficiently.
What is scrap gold?
Let’s start at the beginning, Scrap gold is a term used to describe any gold that doesn’t have the value of its original form anymore, such as a piece of jewelry that broke, a dental implant that has been removed, or other industrial products.
This scrap gold is usually sent to a refinery, which recycles it and gives it new life. So basically, the gold that is meant to be recycled and reused is scrap gold.
How to calculate the value of scrap gold?
So, if you are looking to sell your scrap gold and want to calculate the value of it, a scrap gold calculator will be very useful. Let’s see how they calculate the prices.
First of all, you need to have some information about the gold you are trying to sell:
- The purity of the gold: this is measure in karats. If you want to sell jewelry, it usually has a little mark that indicates the karats; 24 is the highest karat value and indicates pure gold. If the karat is less, you can divide the value by 24 and then multiply it by 100, and you will have the purity of your gold. For example, if you have a piece of gold that is 18 karats, then 18÷24×100=75%.
- Weight: If you have multiple pieces of different karats, separate them by the karat value and weigh them. You should take note of the items’ weight for each karat. For example, 1 ounce of 20k, 2.3 ounces of 10k, etc. Most calculators will let you chose the unit of weight between ounces or grams.
If you have no way to know the karats of your gold, you should consider sending it to a trusted refiner for refining. Refining your gold scrap with a trusted refinery is the best way to actually find how much gold you have and get the highest returns possible. You can always ask for a quote or call us to speak with an expert. We only work with companies.
Now you just need to enter your details on the calculator and get to know how much your scrap gold is worth.
The final price that the calculator will give you is based on the value of your pure gold. That means it won’t calculate the other metals your gold might be mixed with. Usually, these calculators are constantly updated to the market price of gold.
Go ahead and try our scrap gold calculator and get a free quote from us!