What “scrap gold” means
Scrap gold is valued primarily for recoverable metal rather than retail design. It can include broken chains, single earrings, dental gold, damaged rings and jewelry that is unlikely to resell intact.
Scrap gold value formula
Gold-bearing grams × purity × USD gold price per gram
A 14K item uses a purity factor of approximately 0.585. A 10-gram 14K item therefore contains about 5.85 grams of pure gold before allowing for stones, solder or other components.
What the estimate excludes
- Gemstones and collectible value
- Refining and assay costs
- Shipping, insurance and transaction fees
- Buyer operating margin
- Differences between reference prices and executable prices