Selling scrap gold can be an easy way to turn broken, unwanted, or outdated jewelry into cash. But before you sell, it helps to understand how gold buyers determine what your items are worth.
The value of scrap gold depends mainly on three things:
- Weight
- Gold purity
- The current gold price
For that reason, a reputable gold buyer should explain each part of the calculation before you decide whether to sell.
Have scrap gold to evaluate? If you are near Snellville or Commerce, request a free scrap-gold evaluation. Share any details or photos you have; knowing the weight or karat is optional. A final offer follows in-person testing and weighing, with no obligation to sell.
At Gold Kings, we believe the process should be simple:
We test it, we weigh it, and we pay you.
What Is Scrap Gold?
Scrap gold describes items that buyers value mainly for their precious-metal content rather than their use as jewelry.
Scrap gold may include:
- Broken gold chains
- Damaged rings
- Single earrings
- Bent bracelets
- Old class rings
- Gold charms
- Dental gold
- Damaged watches
- Outdated jewelry
- Mismatched jewelry
- Unwanted gold jewelry
Because buyers focus on metal content, an item does not need to be in perfect condition to have value.
For example, a broken 14K chain still contains the same amount of gold as it did before it broke.
How Much Is Scrap Gold Worth?
The basic value of scrap gold is based on its melt value.
Specifically, you can estimate melt value with this formula:
Weight × gold purity × current gold price = approximate melt value
For example, 14K gold is approximately 58.3% pure gold.
If you have 20 grams of 14K jewelry:
20 grams × .583 = 11.66 grams of pure gold
You would then multiply the pure-gold weight by the current value of gold per gram.
Gold prices change throughout the trading day, so the value of the same jewelry can change as the gold market moves.
What Does Gold Spot Price Mean?
The spot price of gold is the current market price for pure gold.
Markets normally quote gold prices by the troy ounce.
One troy ounce equals approximately 31.1035 grams.
The spot price refers to pure gold, or approximately 24K gold. However, most jewelry contains gold mixed with other metals, so buyers adjust its value according to its karat.
| Karat | Approximate Gold Purity |
|---|---|
| 9K | 37.5% |
| 10K | 41.7% |
| 12K | 50% |
| 14K | 58.3% |
| 18K | 75% |
| 21K | 87.5% |
| 22K | 91.7% |
| 24K | 99.9%+ |
This is why a 20-gram 18K chain is worth more in gold than a 20-gram 10K chain.
How Is Scrap Gold Tested?
You may notice markings such as 10K, 14K, 18K, 22K, 417, 585, 750, or 916. These markings can help identify the expected purity of an item.
However, a stamp alone does not guarantee that the jewelry contains the amount of gold marked on it.
Jewelry can also be:
- Gold plated
- Gold filled
- Vermeil
- Rolled gold
- Incorrectly stamped
- Made from mixed metals
That is why professional testing is important.
Gold buyers may use acid testing, electronic testing, or X-ray fluorescence testing, commonly called XRF.
An XRF analyzer can identify the metals in an item without damaging the jewelry. At Gold Kings, we test gold so you can better understand what you actually have before deciding whether to sell.
How Is Scrap Gold Weighed?
Buyers commonly weigh gold jewelry in grams or pennyweights, also called DWT.
Important conversions include:
- 1 pennyweight = approximately 1.555 grams
- 20 pennyweights = 1 troy ounce
- 1 troy ounce = approximately 31.1035 grams
If a buyer uses pennyweights instead of grams, that does not automatically mean anything is wrong. However, the buyer should clearly explain the weight and calculation.
In addition, you should be able to see the scale and check the weight that supports your offer.
What Is the Difference Between Melt Value and the Offer?
The melt value estimates the worth of the precious metal in your jewelry.
However, the amount a gold buyer offers will usually be less than the full melt value.
Gold buyers have expenses that may include:
- Refining
- Processing
- Testing
- Employee costs
- Rent
- Insurance
- Market risk
- Business overhead
Because of this, buyers normally pay a percentage of the metal’s calculated value.
Learn more about why gold buyers do not normally pay 100% of spot for scrap jewelry.
However, the percentage can vary with the buyer and the type and amount of gold you sell. This is why knowing the approximate melt value can help you compare offers.
What Percentage of Gold Value Should I Receive?
There is no single percentage that every gold buyer pays.
Offers can vary depending on:
- The type of jewelry
- Gold purity
- Amount you want to sell
- Current gold market
- Refining costs
- Whether the item has resale value
- The buyer’s business model
Instead of only asking, “How much will you pay me?” ask how the buyer calculated the offer. Understanding how gold buyers determine jewelry value makes it easier to evaluate the offer.
A good gold buyer should be able to explain:
- What karat did the gold test?
- How much does it weigh?
- Which gold price did the buyer use?
- How did the buyer calculate the final offer?
As a result, a clear explanation makes it easier to compare one buyer with another.
How Can I Get the Best Price for Scrap Gold?
You do not need to become a gold expert before selling your jewelry. Instead, a few simple steps can help you make a better decision.
Know the Current Gold Price
Gold prices change constantly. Check the current market before you sell so you have a general idea of whether gold prices are high or low.
Know What Karat You Have
Look for stamps such as:
- 10K or 417
- 14K or 585
- 18K or 750
- 22K or 916
If you cannot find a stamp, do not worry. Instead, a professional buyer can test the metal.
Watch Your Gold Being Weighed
Also, check that the buyer shows you the weight that supports the calculation.
Ask Questions
If you do not understand the offer, ask the buyer to explain it. Review these questions to ask before selling gold so you know what information a reputable buyer should provide.
Read Reviews
In addition, customer reviews can show whether a business is transparent, professional, and easy to work with. It can also help to compare a specialized gold buyer versus a pawn shop so you understand how the evaluation and resale models differ.
Do Not Feel Pressured
Getting an appraisal or offer does not mean you have to sell. Instead, take time to decide whether the amount feels right before completing the transaction. For help weighing timing and personal priorities, see our guide to the best time to sell gold.
Should I Separate My Gold by Karat?
If possible, yes.
You can make separate groups for:
- 10K
- 14K
- 18K
- 21K
- 22K
- Unknown gold
As a result, you can more easily understand the value of each group. However, you do not need to sort everything before visiting a professional gold buyer.
Instead, a buyer should be able to test and separate your items for you.
Should I Remove Stones Before Selling Gold?
Usually, no.
Have the jewelry evaluated first. Our guide explains whether you should remove diamonds and gemstones before selling gold.
Trying to remove diamonds or gemstones yourself could damage the jewelry or cause you to lose a stone. Some stones may also have value beyond the gold itself.
Therefore, ask a knowledgeable buyer to compare the item’s jewelry value with its gold content alone.
Can Broken Gold Jewelry Still Be Sold?
Yes.
Damage does not automatically erase the precious-metal value of gold jewelry. Learn more about selling broken gold jewelry and how its value is determined.
You can often sell:
- Broken necklaces
- Missing earrings
- Bent rings
- Damaged bracelets
- Broken clasps
- Old charms
- Unwanted class rings
- Dental gold
Even small pieces can contain valuable gold. Therefore, do not discard an item just because it has broken.
Is Designer Jewelry Worth More Than Scrap Gold?
Sometimes.
However, buyers should not assume every gold item belongs in the scrap category. Certain pieces may have additional value because of their designer, brand, age, rarity, condition, gemstones, or collectibility.
Examples can include certain designer jewelry that may be worth more than its gold content, luxury watches, antique jewelry, and collectible gold coins.
Therefore, before selling something unusual or expensive-looking strictly for melt value, ask whether it has resale or collector value.
Are Gold Coins and Bullion Scrap Gold?
Usually, no.
Gold bullion and many gold coins usually call for a different evaluation than broken jewelry.
Because bullion serves as an investment in precious metal, buyers often offer prices closer to the current gold market price.
Some coins can also be worth more than their gold content because they have collector value.
How to Avoid Getting Lowballed When Selling Gold
One of the easiest ways to avoid getting lowballed when selling gold is to understand the basic numbers before selling.
Weight × purity × current gold price = approximate gold value
Then compare that approximate value with the buyer’s offer.
A reputable buyer should be willing to show you:
- How your gold tested
- How much it weighs
- The market price behind the offer
- How the buyer calculated the offer
However, be cautious if someone refuses to explain the numbers or pressures you to sell immediately.
Where Can I Sell Scrap Gold in Georgia?
Gold Kings buys gold, silver, jewelry, coins, and other precious-metal items at our Georgia locations.
You can bring your items in for testing and receive an offer before deciding whether you want to sell. See how our gold evaluation and selling process works so you know what to expect.
Gold Kings of Snellville
3635 Stone Mountain HwySnellville, GA 30039
Our store is inside Unique Treasures. Walk-ins are welcome Monday–Saturday, 10 a.m.–6 p.m. Call 770-771-4650 or check Snellville hours and directions.
We serve customers from Snellville, Loganville, Lawrenceville, Lilburn, Stone Mountain, Grayson, and surrounding Gwinnett County communities.
Gold Kings of Commerce
Find Gold Kings of Commerce at 480 Banks Crossing Dr, Commerce, GA 30529. Please call 706-336-0043 before visiting to confirm availability or arrange an appointment. Check Commerce hours and directions.
The Commerce team serves customers throughout the surrounding Northeast Georgia communities.
Why Sell Scrap Gold to Gold Kings?
Selling gold should not feel confusing. That is why we explain each step of the process.
First, we test your items and show you the weight. Next, we explain the value and make you an offer.
There is no reason to guess what is happening behind the counter.
We test it, we weigh it, and we pay you.
Frequently Asked Questions About Selling Scrap Gold
What counts as scrap gold?
Scrap gold can include broken, damaged, outdated, or unwanted gold jewelry that buyers mainly value for its metal content.
How much is scrap gold worth?
Scrap gold value depends on the item’s weight, purity, and the current gold market price.
Is 14K gold worth anything?
Yes. Fourteen-karat gold is approximately 58.3% pure gold and can have significant value depending on its weight and the current gold price.
Is broken gold worth less?
Broken jewelry may have less resale value as jewelry, but the gold itself still has precious-metal value.
Can I sell gold without a stamp?
Yes. A professional can test gold even without a visible karat stamp.
Is gold-plated jewelry worth money?
Gold-plated jewelry normally contains only a very thin layer of gold and usually has much less precious-metal value than solid gold.
Should I clean my gold before selling it?
Usually, no. Cleaning normally does not increase the scrap value because buyers are primarily evaluating the item’s gold content and weight.
Do I have to sell after getting an offer?
No. You should understand the offer and feel comfortable with it before deciding whether to sell.
What is the best way to know if I’m getting a fair offer?
First, estimate the melt value and watch the buyer test and weigh your items. Then ask how the buyer calculated the offer. Our guide explains how to compare gold offers correctly, including how reputation and reviews can help you assess buyers.
Where can I check today’s gold price?
You can check current gold and silver market information on the Gold Kings pricing page.
Know What Your Scrap Gold Is Worth Before You Sell
You do not have to guess what your old jewelry is worth.
Start with three things:
Weight. Purity. Gold price.
Once you understand those numbers, it becomes much easier to evaluate an offer and decide whether selling your scrap gold makes sense.
Gold Kings makes the process simple and transparent.
We test it, we weigh it, and we pay you.