Gold Scrap Value Calculator

In short Selling gold back is the metal value minus the buyer's cut, and both halves are worth checking. The metal value is the pure gold content — gross weight times karat divided by 24 — priced at the rate you were quoted, with the purity of that quote taken out first. One tola of 22K against a 24K tola rate of 300,000 holds 10.692 grams of gold worth 275,000. The deduction then covers refining loss, assay and the buyer's margin, and at 10% you are offered 247,500 while the buyer keeps 27,500. This page deliberately does not suggest a fair deduction, because there is no single one: it varies by market, by whether the piece is hallmarked and by whether the buyer refines in-house. What it does is put any two offers on the same basis so they can be compared. What you will not get back is anything you paid in making charges or wastage when you bought the piece. Those are gone the moment it leaves the shop, and they are the real reason jewellery underperforms coins and bars as a store of value. Two practical points. A buyer who will not state the karat they are paying on is quoting a number you cannot check, and purity is testable — an assay or even an XRF reading takes minutes. And the weight should be witnessed on the scale, in a unit you recognise.