What Is Scrap Gold Worth? NJ Guide

You've got a tangled chain, a ring from an old relationship, maybe a single earring. It's gold, or at least you think it is. So what's it actually worth?

Scrap gold pricing isn't a mystery. It's basic math once you understand the three variables: karat, weight, and spot price. Here's how it all works.

The three things that determine scrap gold value

1. Karat (purity). The karat stamp tells you what percentage of the piece is actual gold. Pure gold is 24K. Most jewelry is not pure because pure gold is too soft for everyday wear.

• 24K = 99.9% gold
• 22K = 91.7% gold
• 18K = 75.0% gold
• 14K = 58.3% gold
• 10K = 41.7% gold

A 14K ring is 58.3% gold and 41.7% other metals (usually copper, silver, or zinc). You're getting paid for the gold portion only.

2. Weight. Gold is weighed in troy ounces or grams. One troy ounce equals 31.1 grams. Most scrap pieces are weighed in grams because they're small.

3. Spot price. This is the current market price for one troy ounce of pure gold. It changes throughout the day based on global trading. You can check it online any time.

How to do the math

The formula is straightforward:

Value = Weight (in grams) x Karat purity percentage x Spot price per gram

To get the spot price per gram, divide the per-ounce price by 31.1.

Here's an example. Say gold is trading at $5,000 per troy ounce, and you have a 14K chain that weighs 15 grams.

• Spot price per gram: $5,000 / 31.1 = $160.77
• Gold content: 15 grams x 0.583 = 8.745 grams of pure gold
• Melt value: 8.745 x $160.77 = $1,406

That's the full melt value. A gold buyer will pay a percentage of melt value because they have overhead costs and need to refine the gold. At Cash 4 Gold Trading Post, we pay competitive rates that you can compare against any dealer in New Jersey.

What counts as scrap gold

Scrap gold is any gold item being sold for its metal content rather than as a finished piece of jewelry. Common examples:

• Broken chains and bracelets
• Single earrings (the other one is long gone)
• Old wedding bands and engagement rings
• Bent or damaged rings
• Dental gold (crowns, bridges, caps)
• Gold watch cases (the movement inside is separate)
• Gold-filled pieces (worth less, but still worth something)
• Class rings
• Religious pendants and medallions

Condition does not matter for scrap. A broken 14K chain contains the same amount of gold as an intact one. Scratched, dented, or tangled, the gold content is identical.

Why testing matters more than stamps

Here's something most people don't realize: the karat stamp on your jewelry isn't always accurate.

Some older pieces were stamped incorrectly. Some imported jewelry is stamped higher than its actual purity. Some pieces have been repaired with solder that has a different karat than the rest of the piece. And some items are gold-plated or gold-filled but look like solid gold.

This is why professional testing matters. At Cash 4 Gold Trading Post, we use XRF (X-ray fluorescence) analyzers. This is a handheld device that shoots X-rays at the metal and reads back the exact composition in seconds. It tells us the precise percentage of gold, silver, copper, and other metals in your piece. No scratching, no acid, no damage to your item.

XRF testing is the gold standard (no pun intended) in the industry. It removes guesswork and gives both you and the buyer confidence in the valuation.

How to estimate value at home

You can get a rough idea before visiting a dealer:

1. Look for a karat stamp. Check inside rings, on clasps, on the back of pendants. Common stamps include 10K, 14K, 18K, 585 (14K in European marking), and 750 (18K).

2. Weigh your items. A kitchen food scale that measures in grams will work. It won't be as precise as a calibrated dealer scale, but it gives you a ballpark.

3. Check the spot price. Search "gold spot price" online. Use the per-ounce price.

4. Do the math using the formula above.

Keep in mind this gives you the full melt value. Your actual payout will be a percentage of that number. If a buyer is offering you 50% of melt, shop around. If they're offering a competitive percentage, that's a reasonable deal.

How to prepare for your visit

Gather everything. Check jewelry boxes, bathroom drawers, safes, old purses. Pull out anything that might be gold, even if you're not sure.

Don't clean anything. Cleaning doesn't affect gold value, and polishing can actually damage certain pieces that might have collector value beyond melt.

Separate if you can. If you can sort gold from silver and costume jewelry, it saves time. But if you're not sure what's what, bring it all and we'll sort it for you.

Bring a photo ID. New Jersey law requires identification for all precious metal transactions.

Know that you're not obligated. Getting a valuation is free at Cash 4 Gold Trading Post. If you don't like the price, you take your gold and walk out. No pressure.

Where to sell scrap gold in NJ

Cash 4 Gold Trading Post has six locations across central New Jersey:

• East Brunswick: 111 Main St Suite 9, (732) 898-6565
• New Brunswick: 51 Bayard St, (732) 543-1313
• Middlesex: 748 Bound Brook Rd, (732) 629-7600
• Millstone: 494 Monmouth Rd Suite 5, (732) 444-2022
• Brick: 921 Cedar Bridge Ave, (732) 444-2094
• Manalapan: 356 US-9 Unit 6, (732) 444-2022

Walk in any day Monday through Saturday. We weigh, test, and make you an offer on the spot. If the number works, you leave with cash. If it doesn't, you leave with your gold. Either way, you'll know exactly what your scrap gold is worth.