UK Scrap Gold Calculator — 9ct, 14ct, 18ct, 22ct Spot Value
If you've got a drawer full of old gold rings, broken chains or a few sovereigns and you want to know what they're actually worth, this is the calculator (and the maths behind it). It gives you the live melt value of any weight of UK gold at any common purity — 9ct, 14ct, 18ct, 22ct or fine 24ct — in pounds.
Live UK scrap gold calculator
Live gold spot: loading… per troy ounce. Refreshed automatically.
Need more detail (multiple items, premium tracking, charts)? Use the full Spot Bot calculator.
The formula
The maths behind every UK scrap gold calculator is the same:
value = (spot_per_oz ÷ 31.1034768) × purity × weight_in_grams × offered_pct
Where:
- spot_per_oz — the live spot price of one troy ounce of fine gold in GBP. (A troy ounce is 31.1034768 grams. It is not the same as a normal ounce.)
- purity — the decimal fraction of pure gold in the alloy. 9ct = 0.375, 14ct = 0.585, 18ct = 0.750, 22ct = 0.916, 24ct = 0.999.
- weight_in_grams — the weight of just the gold (stones, solder and non-gold parts excluded).
- offered_pct — the percentage of spot a dealer is willing to pay you. UK scrap dealers typically pay 85–95% of spot; pawnbrokers often pay less.
UK carat reference table
| Carat (UK hallmark) | Purity | Notes |
|---|---|---|
| 9ct | .375 (37.5%) | Most common UK jewellery alloy. Worn rings, chains, scrap. |
| 14ct | .585 (58.5%) | Less common in the UK; standard in the US. |
| 18ct | .750 (75.0%) | High-end jewellery, engagement rings. |
| 22ct | .916 (91.6%) | Sovereigns, half-sovereigns, traditional Asian jewellery. |
| 24ct / fine | .999+ (99.9%+) | Investment bullion. Britannias, Krugerrands, Maples, bars. |
A worked example
Let's say you have a 10g 9ct gold ring, the spot price is £2,100 per troy ounce, and a local dealer is offering 90% of spot.
- Spot per gram: £2,100 ÷ 31.1034768 = £67.52/g
- Pure gold content: 10g × 0.375 = 3.75g of pure gold
- Melt value at 100% of spot: 3.75 × £67.52 = £253.20
- At 90% of spot: £253.20 × 0.90 = £227.88
So the dealer would offer about £228. The calculator above does this for you in one tap.
What dealers typically pay (UK)
- Refiners and large bullion buyers: 92–97% of spot. Best for >50g lots.
- Specialist scrap-gold-by-post services: 88–95% depending on weight.
- High-street jewellers and pawnbrokers: 70–88% — convenient but lower.
- Cash-for-gold pop-ups: 50–75%. Avoid unless you have no alternative.
Always get at least two written quotes before posting items or accepting an offer. Reputable buyers will weigh, photograph and give you a sealed counter-offer.
What this calculator doesn't tell you
The melt value is the floor. Three things can lift it:
- Numismatic value — sovereigns, half-sovereigns and other collectable coins can be worth more intact than melted. Don't scrap them without an appraisal.
- Brand/designer premium — Cartier, Bulgari, Tiffany etc. signed pieces are usually worth more on the second-hand market than as scrap.
- Antique & condition — Georgian, Victorian or Art Deco pieces can hold premiums far above melt.
If you're unsure, get a second opinion from a high-street jeweller or auction house before scrapping anything that looks distinctive.
Tracking your gold over time
If you collect gold, Spot Bot's portfolio tracker shows the live value of everything you own, the profit/loss on each piece, and per-purity historical charts so you can see how 9ct gold and 18ct gold have moved over time — not just pure spot.