Published Mar 8, 2026 · Updated Sep 4, 2026

How to Sell Scrap Gold: The Complete Beginner’s Guide (2026)

Do you have old, broken, or unwanted gold sitting in a drawer? Learning how to sell scrap gold is one of the easiest ways to turn forgotten jewelry into fast, real cash.

Scrap gold is any gold item no longer used for its original purpose — broken chains, old rings, dental gold, mismatched earrings. All of it can be sold. And with gold prices near all-time highs in 2025, right now is a great time to act.

Millions of people sell scrap gold every year — for quick cash, to clear clutter, or to capture high scrap gold value before prices change. Whatever your reason, this step-by-step guide shows you exactly how to sell scrap gold and get the best possible scrap gold price per gram.

Overview of Scrap Gold

What Is Scrap Gold?

Scrap gold is gold sold purely for its metal content. When you sell scrap gold, buyers do not care about design or craftsmanship. They care only about purity and weight. The item goes through the gold melting process at a gold refinery, where pure gold is extracted and recycled into new products.

This means condition does not matter when you sell scrap gold. A bent ring and a perfect ring of the same karat are worth the same per gram to scrap gold buyers.

Types of Scrap Gold You Can Sell

• Broken gold jewelry: Snapped chains, bent rings, cracked bangles — damage has zero effect on scrap gold value.
• Old gold rings and necklaces: Wedding bands, inherited rings, and tangled chains are the most common items people sell as scrap gold.
• Dental gold: Old crowns, bridges, and fillings contain real gold — typically 16K or higher — and are eagerly bought by scrap gold buyers.
• Gold coins: Bullion coins can be sold as scrap gold, but always check collector value first as numismatic worth can far exceed scrap gold price.
• Gold earrings and pendants: Singles without a partner, out-of-style pendants, and fashion pieces all have solid scrap gold value.

Why People Sell Scrap Gold

• Broken jewelry that costs more to repair than its worth.
• Unused or unwanted gold collecting dust in a jewelry box.
• Rising gold spot prices making now the ideal time to sell scrap gold.
• Emergency cash needs — selling scrap gold is fast and accessible.
• Decluttering during home cleanouts or estate settlements.
• Responsible recycling of precious metals through a gold refinery.

How to Sell Scrap Gold: Step-by-Step Guide

Follow these six steps every time you sell scrap gold. They protect you from low offers and help you maximise scrap gold value.

Step 1 – Identify Your Gold Purity (Karat)

The gold karat system tells you how much pure gold is in your item. It is the most important factor when you sell scrap gold — higher karat means higher scrap gold price per gram.

• 10K: 41.7% pure gold. Most common in US jewelry. Lowest scrap gold value per gram among standard karats.
• 14K: 58.3% pure gold. The most popular karat in North America for everyday jewelry.
• 18K: 75% pure gold. Common in European and high-end jewelry. Significantly higher scrap gold value.
• 22K: 91.7% pure gold. Common in South Asian and Indian gold jewelry. Very high scrap gold value.
• 24K: 99.9% pure gold. The highest scrap gold price per gram. Typically found in bullion bars and coins.

Look for a hallmark stamp on your jewelry: 10K, 14K, 18K, 417, 585, 750, or 999. No stamp? Use an acid test kit or get gold purity testing done at a local jeweler before you sell scrap gold.

Use Our Free Gold Purity Calculator

Step 2 – Weigh Your Gold

Weight is the second key factor when you sell scrap gold. Use a digital gram scale for accuracy. Here are the three weight units used by scrap gold buyers:

• Grams: The most common unit for selling scrap gold. Most online calculators use grams.
• Troy ounce: The gold industry standard. One troy ounce equals 31.1 grams — not the standard 28.35-gram ounce. Gold spot price is always quoted in troy ounces.
• Pennyweight (dwt): Used by some pawn shops and jewelers. One pennyweight equals 1.555 grams. Be cautious — quoting prices in dwt can make offers look lower than they are.

Always separate your gold by karat before weighing. Never let scrap gold buyers weigh all your pieces together. Mixing karats lets dishonest buyers pay the lower rate for everything.

Step 3 – Check the Current Gold Spot Price

The gold spot price is the live market price per troy ounce of pure 24K gold, set by the London Bullion Market and global commodity exchanges. Check it free on Kitco, Bloomberg, or simply Google ‘gold spot price today.’

This number is your benchmark when you sell scrap gold. Every offer from every scrap gold buyer should be calculated as a percentage of your melt value based on this spot price.

Step 4 – Calculate Your Scrap Gold Value

Your melt value is what your scrap gold is worth before dealer margins. Here is how to calculate scrap gold value per gram:

• Divide the gold spot price (per troy ounce) by 31.1 to get the price per gram of 24K gold.
• Multiply by your karat purity: 0.417 for 10K, 0.583 for 14K, 0.75 for 18K, 0.917 for 22K.
• Multiply by your gold weight in grams.

Example: Spot price is $75/gram. You have 10 grams of 14K scrap gold. Calculation: $75 × 0.583 × 10 = $437.50 melt value. A fair scrap gold buyer should offer you 80–92% of that — roughly $350 to $403.

Know this number before you talk to any scrap gold buyer. It is your most powerful tool when selling scrap gold.

Step 5 – Find Scrap Gold Buyers

Identify at least three scrap gold buyers — local and online. Competition drives prices up. Never approach just one buyer when you sell scrap gold.

Step 6 – Compare Offers and Choose the Best

Getting multiple offers is the most impactful step when selling scrap gold. Here is how:

• Contact or visit at least three different scrap gold buyers.
• Tell each buyer you are comparing offers before deciding.
• Ask every buyer to weigh your gold on a calibrated gram scale in front of you.
• Request a clear breakdown of how they calculated the offer.
• Choose the buyer paying the highest percentage of melt value.

Reputable scrap gold buyers will respect this process. Any buyer who pressures you to decide immediately is a red flag when you sell scrap gold.

Where to Sell Scrap Gold: Best Options Compared

Local Jewelry Stores

Jewelry stores offer face-to-face transactions, professional gold purity testing, and instant payment. A trusted place to sell scrap gold, though overhead costs mean slightly lower offers than specialist buyers.

Pawn Shops

Pawn shops pay only 50–70% of melt value — the lowest of all scrap gold buyers. Use them only for urgent cash. Always negotiate and always know your melt value before you sell scrap gold at a pawn shop.

Online Gold Buyers

Online scrap gold buyers often pay the highest rates — 85–95% of melt value. Mail your gold using insured prepaid shipping and receive payment within days. Choose buyers with transparent policies, detailed receipts, and a clear option to return items if you reject their offer.

Gold Refineries

A gold refinery buys directly with no middlemen, offering 90–98% of melt value — the best price when you sell scrap gold. Most refineries require a minimum of 100 grams, so best for larger scrap gold collections.

Coin Shops

Coin shops are ideal when your scrap gold includes gold coins. Staff assess numismatic value and will flag if a coin is worth more than scrap gold price. For general jewelry, coin shops are less competitive than specialist scrap gold buyers.

Use Our Free Gold Price Convertor

Comparing venues in general rather than specifically for scrap gold? See our full best place to sell gold breakdown, which ranks every buyer type side by side. Selling gold jewelry instead of loose scrap? Our guide on where to sell gold jewelry covers how to protect designer or antique value before you sell.

How Scrap Gold Value Is Calculated

Every scrap gold buyer uses these five factors:

• Gold purity (karat): The percentage of pure gold in your item. Higher karat equals higher scrap gold value per gram.
• Weight: More grams means more money. Always weigh on a calibrated digital gram scale.
• Gold spot price: The daily market price from the London Bullion Market. Selling scrap gold when the spot price is high maximises your return.
• Dealer margin: Every scrap gold buyer takes a cut — 5–15% at online buyers and refineries, 25–50% at pawn shops.
• Refining cost: The cost of the gold melting process to extract pure gold from scrap. Some buyers deduct this separately. Ask for a full itemised breakdown before you finalise any scrap gold sale.

Benefits of Selling Scrap Gold

• Quick cash: Local scrap gold buyers pay on the spot. Online buyers pay within 2–5 days.
• Recycling precious metals: Selling scrap gold supports responsible gold refinery recycling — no new destructive mining needed.
• Reduce clutter: Turn unused jewelry into cash instead of letting it gather dust.
• Capitalise on high gold prices: With scrap gold price per gram near record highs in 2025, selling scrap gold now locks in excellent value.
• No repairs needed: Broken pieces sell just as well as perfect ones when you sell scrap gold. Condition is irrelevant.

Common Mistakes When Selling Scrap Gold

• Not checking the gold spot price first: Without this benchmark, you cannot evaluate any offer. Always check the spot price before you sell scrap gold.
• Accepting the first offer: Prices between scrap gold buyers vary by 30–40%. Getting multiple offers is essential and easy.
• Selling collectible pieces as scrap: Antique jewelry, signed designer pieces, and rare gold coins can be worth far more than their scrap gold value. Always check before melting.
• Using travelling or pop-up gold buyers: ‘We Buy Gold’ hotel events and unverified travelling buyers are notorious for low offers and dishonest practices.
• Mixing karats when weighing: Always separate gold by karat. Mixing allows buyers to pay the lowest rate across everything.
• Not getting a written receipt: Always request a receipt showing weight, karat, spot price used, and final offer whenever you sell scrap gold.

Tips to Get the Best Price for Your Scrap Gold

• Compare at least three buyers: The most powerful thing you can do when selling scrap gold. More competition means higher offers.
• Sell when gold prices are high: Set a free price alert on Kitco and sell scrap gold on strong days to maximise your scrap gold value.
• Use a digital gram scale: Know your exact weight before you talk to any scrap gold buyer. It removes all uncertainty.
• Separate gold by karat: Label each group. This prevents low-ball offers and helps you track the scrap gold price per gram for each piece.
• Remove non-gold parts: Stones, steel clasps, and non-gold components add weight but no value. Remove them before selling scrap gold where possible.
• Never sell under pressure: A fair buyer gives you time to decide. Walk away from any scrap gold buyer who rushes you.
• Negotiate: Scrap gold buyers expect it. Counter low offers. If they will not move, move on to the next buyer.

Real-World Examples of Selling Scrap Gold

Example 1 – Selling a Broken Gold Chain

Sarah had a broken 18K gold chain, 8 grams. Spot price was $74/gram. Her melt value: $74 × 0.75 × 8 = $444. She got three offers: a pawn shop quoted $280, a jeweler offered $355, and an online scrap gold buyer quoted $405. She sold online and earned $125 more than the pawn shop — proof that comparing scrap gold buyers pays off.

Example 2 – Selling Inherited Jewelry

James inherited mixed gold jewelry. Before selling as scrap gold, he had each piece tested. Most was 14K but one ring was 22K worth significantly more. One brooch turned out to be a signed vintage piece worth $600 as an antique — far above scrap gold value. He sold the scrap pieces for $720 and the brooch separately. Always test before selling inherited items as scrap gold.

Example 3 – Selling Gold Coins

Maria thought her five gold coins were only worth scrap gold value. A coin dealer identified two as collectibles worth far more than melt price. She sold those at a premium and the remaining three as scrap gold to an online buyer. She earned significantly more than she would have at a pawn shop. Always check collector value before selling gold coins as scrap gold.

Frequently Asked Questions About How to Sell Scrap Gold

How do I sell scrap gold for the best price?

Check the gold spot price, weigh on a gram scale, separate by karat, and get at least three offers. Online buyers and refineries pay 85–95% of melt value. Your melt value is your strongest negotiating tool when selling scrap gold.

Where can I sell scrap gold near me?

Search ‘sell scrap gold near me’ or ‘scrap gold buyers near me’ on Google Maps. Local options include jewelry stores, pawn shops, and coin shops. Always compare local offers with at least one online scrap gold buyer quote — online buyers often pay more per gram. Reading reviews before you visit any scrap gold buyer protects you from low offers and dishonest practices.

How much do scrap gold buyers pay per gram?

At 2025 prices, 14K scrap gold melt value is roughly $40–$45 per gram. Pawn shops pay 70–75% of melt value. Online scrap gold buyers and refineries pay 85–95%. Always calculate your melt value first so you can judge whether any offer from a scrap gold buyer is fair.

Is it better to sell gold online or locally?

Online buyers pay 85–95% of melt value versus 70–85% locally. Local selling gives instant cash. Get an online quote first and try to match it locally. If no local scrap gold buyer comes close, selling online is the smarter choice.

How is scrap gold value calculated?

Scrap gold value uses three factors: karat purity, weight in grams, and the current gold spot price from the London Bullion Market. Formula: spot price per gram × purity factor × weight = melt value. Example: 10 grams of 18K scrap gold at $74/gram = $74 × 0.75 × 10 = $555. Buyers offer a percentage of that figure.

Can I sell broken gold jewelry as scrap gold?

Yes. Broken gold jewelry sells just as well as perfect pieces when you sell scrap gold. Buyers care only about purity and weight. A snapped chain is worth the same per gram as an intact one of the same karat.

How do I know if a scrap gold buyer is trustworthy?

A trustworthy scrap gold buyer weighs your gold in front of you, tests purity with an acid test or XRF machine, explains their calculation, and provides a written receipt — without pressure. Check Google reviews first. Established jewelers, accredited online buyers, and certified coin dealers are the safest choices when you sell scrap gold.

Final Thoughts: How to Sell Scrap Gold the Smart Way

Selling scrap gold is straightforward once you know the rules: check your karat, weigh accurately, know your melt value, and compare at least three scrap gold buyers.

That broken chain, those old rings, that inherited jewelry you will never wear — all of it has real scrap gold value right now. With gold prices near all-time highs in 2025, there is no better time to sell scrap gold.

Follow these steps every time you sell scrap gold and you will consistently get the best possible price per gram.

For more background on gold and the global gold market, visit Wikipedia’s comprehensive gold reference page.