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Before using the calculator, you need two things: the weight of your piece and its karat (purity).
Here's how to get both accurately.
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Gold melt value is the intrinsic worth of the gold metal contained within a piece of jewelry, calculated from the current spot price of gold, the item's weight, and its purity. It represents the minimum theoretical value, which is the amount a refiner would pay if the piece were melted down and the pure gold extracted.
To calculate gold melt value, you need three pieces of information: the current spot price of gold (priced per troy ounce on commodity markets), the weight of your piece, and the karat or purity of the gold. Our calculator uses today's live spot price for the most accurate estimate possible.
"Scrap" doesn't mean the gold is worthless or low quality. In fact, it simply means the item is being valued for its metal content alone, without any premium for craftsmanship, brand, or design. A 14K gold bracelet weighing 20 grams contains real, recoverable gold worth hundreds of dollars at current prices.
Melt/scrap value is an essential starting point, but it's a floor, not a ceiling. For most jewelry, especially pieces from recognized designers or luxury houses, the actual market value is considerably higher.
Gold purity is measured in karats (K or kt), representing parts of gold per 24 parts total.
Here's a complete reference for the purity markings you'll find on jewelry:
To find your piece's karat, look for a small hallmark stamp. In the United States, the Federal Trade Commission (FTC) requires that all gold jewelry sold domestically be accurately marked with its karat designation.
The gold spot price is the current market price at which gold can be bought or sold for immediate delivery, quoted in USD per troy ounce. It fluctuates throughout each trading day based on global supply and demand, currency movements, geopolitical events, inflation expectations, and central bank activity.
Gold is traded on major exchanges including the COMEX (part of the CME Group in New York) and the London Bullion Market Association (LBMA), which publishes a twice-daily benchmark. The spot price our gold melt calculator uses is refreshed daily to reflect current market conditions.
Spot price is quoted per troy ounce (approximately 31.1 grams) — slightly heavier than a standard avoirdupois ounce (28.35 grams). Our calculator handles all unit conversions automatically.
Melt value only accounts for the raw metal content. It ignores craftsmanship, brand, gemstones, rarity, and collector demand. A piece of 18K gold jewelry and a gold bar of identical weight have the same melt value, yet have very different resale values.
Resale value takes into account the full picture: who made the piece, when, how rare it is, what stones are set in it, and what today's secondary market looks like for that specific item. A Cartier Love bracelet may contain $2,000–3,000 in gold at melt but routinely sells for $5,000–8,000+ in the resale market because of its brand value and demand.
The gap between scrap and resale value is largest for:
- Pieces from recognized luxury brands (Cartier, Van Cleef & Arpels, Bulgari, Tiffany)
- Vintage or antique jewelry with collector appeal
- Items with high-quality gemstones (diamonds, sapphires, rubies, emeralds)
- Limited edition or discontinued designs
If you're selling as scrap rather than through Unvault, know that scrap buyers typically pay 70% to 90% of calculated melt value: the discount covers refining, assaying, and the buyer's margin. This is why it pays to compare offers and know your piece's baseline value before accepting a quote.
This is also why Unvault focuses on item-specific valuations rather than a flat scrap rate. This helps you understand the true value of your jewelry, not just its scrap price. Even pieces you assume are "just scrap" may have hidden value.
