Question 1

What is a fair scrap gold payout percentage?

Accepted Answer

There is no universal payout percentage that is fair for every item or buyer. Compare written quotes using the same weight, purity, and spot-price assumptions, and ask for deductions to be itemized. This calculator models a payout scenario from the percentage you select; use the Gold Offer Checker to compare a specific buyer's amount with estimated melt value.

Question 2

Why do scrap gold buyers pay less than 100% of melt value?

Accepted Answer

Melt value is an estimate of the item's metal content at spot price, while an actual offer can reflect testing, refining, operating costs, fees, condition, resale channel and demand. The amount and deductions vary by buyer. Ask how the gold weight and purity were determined and compare the net written offer with your estimate.

Question 3

What is the difference between melt value and buyer payout?

Accepted Answer

Melt value estimates metal content from weight, purity, and spot price. A buyer payout is the actual amount offered after the buyer's testing and deductions. This calculator shows a hypothetical payout scenario; it cannot predict or verify a real offer.

Question 4

Should I get my gold tested before selling it as scrap?

Accepted Answer

Yes, always have your gold tested or certified before selling as scrap. Many buyers use acid testing, electronic testers, or XRF scanners to verify purity on the spot. If your jewelry is stamped 14K but tests as 10K, the buyer will pay based on the actual purity, not the stamp. Some unscrupulous buyers may claim your gold is lower purity than it actually is to pay you less. Independent testing at a jewelry store or appraiser before selling gives you confidence in negotiations. Bring the test results with you when getting quotes.

Question 5

Where is the best place to sell scrap gold for the highest payout?

Accepted Answer

The best option depends on the item, your location, and the buyer's process. Compare written quotes from different types of buyers using the same weight and purity assumptions. Ask each buyer to explain testing methods, deductions, fees, and the net amount you would receive. For branded or collectible pieces, compare resale options before selling only for scrap value.

Question 6

How do I calculate the value of broken or damaged gold jewelry?

Accepted Answer

Broken or damaged gold jewelry still has full melt value as long as the gold purity is unchanged. The KaratWorth Scrap Gold Calculator works the same way for damaged pieces - just enter the weight and purity as usual. Damage does not reduce the gold content. However, if clasps, stones, or non-gold components are attached, you should either remove them before weighing or estimate their weight and subtract it. A digital scale measuring to 0.01g accuracy is essential for accurate calculations. Remember: a broken 22K gold chain has the same melt value as an intact one of the same weight.

Scrap Gold Calculator

How This Is Calculated

Frequently Asked Questions

Next tools and guides