1. What is the 14k Gold Scrap Price Calculator?

The 14k Gold Scrap Price Calculator estimates the value of 14 karat gold items based on current gold spot price, weight, and a refining factor. It accounts for the gold purity (58.3% gold content in 14k) and typical refining costs.

2. How Does the Calculator Work?

The calculator uses the following equation:

Where:

• \( Weight \) — Weight of the gold item in grams
• \( \frac{14}{24} \) — Purity factor for 14k gold (58.3% gold content)
• \( Spot \) — Current spot price of gold per gram
• \( Factor \) — Refining factor (typically 0.85-0.95)

Explanation: The equation calculates the pure gold content in your item, values it at current market rates, then applies a factor for refining costs and dealer margins.

3. Importance of Accurate Calculation

Details: Knowing the accurate scrap value helps when selling gold jewelry, coins, or dental gold, ensuring you get fair market value and avoid being underpaid.

4. Using the Calculator

Tips: Enter weight in grams, current spot price in your local currency per gram, and a factor (typically 0.95 for retail buyers, lower for pawn shops). All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why is the factor less than 1?
A: The factor accounts for refining costs, dealer profit margins, and other business expenses in the gold buying process.

Q2: Where can I find current gold spot prices?
A: Check financial news websites, commodity exchanges, or your local bullion dealer's website for current prices.

Q3: Does this work for other gold purities?
A: No, this is specific to 14k gold. For other purities, change the 14/24 fraction (e.g., 18k would be 18/24).

Q4: Why measure in grams instead of pennyweights?
A: Grams are the international standard for gold measurement, though some local dealers may use pennyweights (1 dwt = 1.555 grams).

Q5: How accurate is this calculation?
A: It provides a good estimate, but final offers may vary based on market conditions, item condition, and buyer policies.