Figure Out Your Scrap Gold Value With An Online Calculator

Don’t rely on the buyer to tell you how much your gold is worth, that’s a ripe setup for getting a bad deal. Instead, know the melt value of your gold before you go into negotiations. To make that easier, GoldCalc is a two-step tool that lets you do exactly what its name sounds like.

Just enter in the weight of your gold (you’ll need a scale), and the purity, and press the button. The calculator spits out the melt value, which the value of the raw gold in the piece when melted down and extracted. The tool is connected to up-to-the minute gold prices so you’ll know how much your gold is worth right at the moment.

But f you trust your own math better or don’t happen to have internet access, here’s how you can figure the value of your gold by hand (you’ll still need to know the day’s spot price for gold, though).

GoldCalc

PREVIOUSLY
Figure Out How Much Your Scrap Gold Is Worth

Comments

Edit Your Comment

  1. Loias supports harsher punishments against corporations says:

    I saw that Cash4Gold started advertising again. Shameful company.

  2. AllanG54 says:

    Geez…I could have done this if the drug dealer hadn’t gotten arrested and his balance beam scale wasn’t impounded as that was a pretty good way to measure gram weights.

  3. jiarby says:

    I weighed my gold on my Kitchen scale. 10g it said. (actual weight ended up being 10.2g or 6.55 pennyweight)

    Jeweler #1 offered $160
    Jeweler #2 offered $170

    and the lowest… from the “Dave Ramsey” recommended Gold Stash for Cash…
    They offered $90 !!

    I ended up selling online with USGoldBuyers.com. They paid $247 (the melt value was $260)
    I got the money wired into my account withing 20 minutes of their phone call offer.

    USGoldBuyers also publishes what price they are paying today right on the front page of their website. If your gold buyer will not tell you what they are paying up front then run away! 10g of 14k gold is a commodity. They do not have to see it to know what they would pay for it. They do not have to weigh it.

    “If I bring you 10 grams of 14k gold what will you offer?” None will tell you on the phone. Why not!?

    The real crook here is Dave Ramsey…. Goldstash deserves some blame for being lowballers… but Dave Ramset recommends them. He is leading his sheep-like listeners to be golden-fleeced by these lowball scammers.

    Consumerist needs to expose Ramsey for using his influence to give people such BAD advice! He is right about “sell high, not low”… but completely wrong about where to sell.

    He is just cashing in for the endorsement dollar with ZERO care that his listeners are GIVING AWAY 2/3rd’s of their money to crooks because HE said it was a good deal. Dave Ramsey is a SELLOUT!

    • Rose says:

      We don’t tell you on the phone because most people have no idea what the purity or weight of their jewelry is, and when they come in with what they claimed was 10 grams of 21k gold for x amount of money, and turns out to be 7 grams of 10k gold worth y amount of money, they get pissed off and start screaming about bait-and-switch, false advertising, and the BBB. It’s a damned mess and it happened every day that we offered pricing over the telephone.

      So we simply explain that they need to spend ten minutes visiting out store, so we can properly assess their jewelry, weigh it in front of them, show them our days printed prices, and make them an offer based on those printed prices.

  4. GoPadge says:

    What’s a fair price (or percentage) for selling to a local jewler or pawn shop?

    • jiarby says:

      In a pawn situation you need to know the real value of what you are selling. Most pawn shops are NOT like the one on TV. They will size you up and try to offer you as little as possible. We were offered 60%-65% by two local jewelers.

      A seller that does not know the value of what he is selling can be taken advantage of by a buyer that DOES know what the product is worth.

      Take the printout from Kitco.com showing the spot value of gold. Then the printout from USGoldBuyers.com showing what they will pay. Then after the pawn guys make you an offer you can compare them and make a decision.

      Is 60% of the value in cash right now worth more than 95% in 3 days to you? We can’t answer that// only you (or your wife) can!

      • Rose says:

        Why should they give you more than 60 or 65%? If they give you 100% of what it’s ‘worth’, where is the profit for them?

  5. Rose says:

    Don’t rely on the buyer to tell you how much your gold is worth…

    Your gold is worth what it will sell for, so yeah, you do need the buyer to tell you what it’s worth. I mean, don’t send it anywhere; take it to reputable jewelry stores and pawn shops and have it weighed and priced in front of you.

    Just enter in the weight of your gold (you’ll need a scale), and the purity, and press the button.

    Your kitchen scale is probably not sensitive enough to properly weigh your gold.

    The calculator spits out the melt value, which the value of the raw gold in the piece when melted down and extracted. The tool is connected to up-to-the minute gold prices so you’ll know how much your gold is worth right at the moment.

    Except that the calculators that are available to the general public are usually inflated, compared to the actual prices that jewelry stores and pawn shops get when they send it in to a refiner. In addition, different refiners have different prices and deals, so don’t be fooled into thinking that one calculator is going to give you a realistic price.

    Anyway, this post sets you up to expect to get that much when you take it in, which isn’t going to happen. If your gold is worth $5 to a refiner, then the pawn shop or jewelry store will want to sell it to the refiner for $5. This means that you’ll get less than $5 to cover shipping and their profit margin. You’ll probably get something closer to $3 for it.

    Of course, if you go in person to a few stores, instead of sending it in to some scammy company like Cash4Gold, you can see it weighed, receive a quote (usually only good for that day), and decide if it’s enough for you. Also, many stores have trade-in prices that are higher than the cash price, so if you had your eye on a new piece of jewelry or some jewelry repairs, ask them if they’ll give you a higher price if you spend the money in the store.

    -Love,

    A Jewelry Store Veteran

  6. Rose says:

    Don’t rely on the buyer to tell you how much your gold is worth…

    Your gold is worth what it will sell for, so yeah, you do need the buyer to tell you what it’s worth. I mean, don’t send it anywhere; take it to reputable jewelry stores and pawn shops and have it weighed and priced in front of you.

    Just enter in the weight of your gold (you’ll need a scale), and the purity, and press the button.

    Your kitchen scale is probably not sensitive enough to properly weigh your gold.

    The calculator spits out the melt value, which the value of the raw gold in the piece when melted down and extracted. The tool is connected to up-to-the minute gold prices so you’ll know how much your gold is worth right at the moment.

    Except that the calculators that are available to the general public are usually inflated, compared to the actual prices that jewelry stores and pawn shops get when they send it in to a refiner. In addition, different refiners have different prices and deals, so don’t be fooled into thinking that one calculator is going to give you a realistic price.

    Anyway, this post sets you up to expect to get that much when you take it in, which isn’t going to happen. If your gold is worth $5 to a refiner, then the pawn shop or jewelry store will want to sell it to the refiner for $5. This means that you’ll get less than $5 to cover shipping and their profit margin. You’ll probably get something closer to $3 for it.

    Of course, if you go in person to a few stores, instead of sending it in to some scammy company like Cash4Gold, you can see it weighed, receive a quote (usually only good for that day), and decide if it’s enough for you. Also, many stores have trade-in prices that are higher than the cash price, so if you had your eye on a new piece of jewelry or some jewelry repairs, ask them if they’ll give you a higher price if you spend the money in the store.

    -Love,

    A Jewelry Store Veteran