How the scrap value calculator works
Every precious metal item has two numbers that matter: how much it weighs and how much of that weight is actually precious metal. The calculator multiplies the two to get the pure metal content, then multiplies that by the current spot price to give the melt value.
Melt value = weight (troy oz) × purity × spot price per troy oz
The estimated payout is the melt value multiplied by the dealer percentage you choose. No buyer pays 100% of melt for scrap, because they have to cover testing, refining fees, assay losses and their own margin. The slider lets you see a realistic range before you walk into a shop.
Weigh your metal the right way
Precious metals are priced in troy ounces, not the ordinary (avoirdupois) ounces your kitchen scale shows. A troy ounce is 31.1035 grams, while a regular ounce is 28.3495 grams, about 9.7% lighter. Mixing them up is the single most common reason people over- or under-estimate their scrap.
- Grams (g): the easiest unit to use with a digital jewelry scale.
- Troy ounces (ozt): the unit spot prices are quoted in.
- Ounces (oz): a standard kitchen or postal scale. The calculator converts it for you.
- Pennyweight (dwt): the jewelry trade unit. 20 dwt = 1 troy ounce, and 1 dwt = 1.555 grams.
Remove stones, pearls, springs, steel clasps and anything that is not the precious metal itself, or subtract their estimated weight. A gemstone can make up a surprising share of a ring's weight.
Find the purity
Most jewelry and silverware is stamped with a hallmark that tells you its purity. Look on clasps, inside ring bands, on the back of flatware handles and on the underside of hollowware.
| Stamp | Metal | Purity |
|---|---|---|
| 999, .999, FINE | Fine silver or gold | 99.9% |
| 925, STERLING, STER | Sterling silver | 92.5% |
| 900, COIN | Coin silver | 90% |
| 750, 18K | 18 karat gold | 75% |
| 585, 583, 14K | 14 karat gold | 58.3–58.5% |
| 417, 10K | 10 karat gold | 41.7% |
| 950 PT, PLAT | Platinum | 95% |
| 950 PD, PALL | Palladium | 95% |
Stamps such as EP, EPNS, silverplate, GF, GP, HGE or RGP mean the item is plated or gold-filled. Those pieces contain little precious metal and are not valued like solid items.
Melt value vs. what a buyer pays
Melt value is the theoretical worth of the pure metal at spot. Real offers are lower and vary a lot by buyer type. As a rough guide, many pawn shops and mall buyers offer well under melt, local coin and bullion dealers are often closer to it, and refiners that take large lots pay the highest percentage. Get more than one quote, ask what percentage of melt they pay, and weigh your items yourself first so you know what to expect.
Use the dedicated calculators for more detail: gold by karat, sterling silver, US coin melt values and platinum.
Frequently asked questions
How do I calculate scrap value?
Convert the weight to troy ounces, multiply by the purity (for example 0.925 for sterling or 0.583 for 14k gold), and multiply by the spot price per troy ounce. That is the melt value. Multiply the melt value by the dealer's payout percentage to estimate your offer.
Where do the spot prices come from?
Prices load live from a public precious metals price feed when the page opens. If the feed can't be reached, the calculator uses a recent cached copy and shows when it was last updated. You can also type your own spot price into the calculator.
What payout percentage should I expect?
It depends on the buyer and the size of your lot. Offers for scrap jewelry commonly fall somewhere between about 50% and 90% of melt value, with refiners and large lots at the high end. Always ask a buyer what percentage of melt they pay.
Is a troy ounce the same as a regular ounce?
No. A troy ounce is 31.1035 grams and a regular (avoirdupois) ounce is 28.3495 grams. Spot prices are always per troy ounce, so pick the unit that matches your scale.
Are these values guaranteed?
No. All results are estimates for information only. Actual offers depend on the buyer, testing, refining costs and market movements.