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What Percentage of Melt Price Should You Expect When Selling Jewelry Scrap to a Local Gold Buyer?

If you’ve ever considered cashing in old or broken jewelry for quick cash, you’ve probably wondered: how much of the gold’s true value will I actually get? The answer depends on how your local gold buyer does business, but there are some industry standards worth knowing before you walk in with your scrap.

The Melt Price Explained

The “melt price” refers to the raw value of the precious metal in your jewelry if it were melted down and refined. For gold, this number is based on the current market spot price (the price per ounce published worldwide) and the purity of your item (10k, 14k, 18k, etc.). For example:

• 10k gold is 41.7% pure
• 14k gold is 58.5% pure
• 18k gold is 75% pure

A gold buyer starts by calculating how much pure gold your scrap contains, then multiplying that by the spot price. That’s the theoretical maximum value.

What Buyers Actually Pay

Most local gold buyers, pawn shops, and jewelry stores will not pay 100% of melt price. Why? Because they’re middlemen. They cover refining costs, business overhead, and need room for profit.

Here’s what you can typically expect:

• Pawn shops / mall kiosks: 40–65% of melt price
• Local jewelers / small gold buyers: 60–80% of melt price
• Refinery direct (large amounts only): 85–95% of melt price

The exact percentage depends on competition in your area, the buyer’s business model, and how savvy you are about the value of what you’re selling.

How to Get the Best Deal

1. Know the purity and weight before you go. Weigh your items and look for karat stamps.
2. Check the spot price. A quick search will show you today’s gold price per gram or ounce.
3. Get multiple quotes. Don’t sell to the first shop you visit.
4. Ask for their payout percentage. A trustworthy buyer should be transparent.

Bottom Line

If you’re selling small amounts of scrap jewelry to a local buyer, expect to receive 60–80% of melt price in most cases. If you’re dealing with higher quantities and are willing to work directly with a refiner, you can push closer to 90% or more.

The key is walking in informed. The more you know about your gold, the less room there is for a buyer to lowball you.