Scrap Gold Calculator

Most gold buyers charge a margin of 10% to 25% of the melt value. Pawn shops tend to be at the higher end (20 to 30%), while dedicated gold refiners and online buyers offer 5% to 15%. The margin covers refining costs, business overhead, and profit. Always get quotes from at least 3 buyers to find the best payout.

Look for a hallmark stamp on the jewelry: common stamps include 375 (9K), 585 (14K), 750 (18K), 916 (22K), and 999 (24K). You can also use a gold testing kit with acid solutions or a magnet test (gold is not magnetic). For accurate results, take your gold to a jeweler who can test it with an electronic gold tester or XRF analyzer.

Refiners and dedicated gold buyers typically pay more than pawn shops. Online gold buyers like APMEX or Kitco often pay 90 to 95% of melt value. Pawn shops may offer only 60 to 80% of melt value because they factor in resale uncertainty. However, local buyers pay immediately while online buyers require shipping and a waiting period.

In most countries, selling gold at a profit is subject to capital gains tax. In the US, gold is classified as a collectible with a maximum long-term capital gains rate of 28%. Short-term gains (held less than 1 year) are taxed as ordinary income. Keep records of your original purchase price to calculate your taxable gain. Consult a tax advisor for your specific situation.

You can sell broken or unworn jewelry (chains, rings, bracelets, earrings), old dental gold (crowns, bridges, fillings), gold coins and bullion that are damaged, gold-plated items with thick plating, watch cases, and gold flakes or dust. Gold-plated costume jewelry has negligible gold content and is usually not worth selling.