What gold buyers pay compared with melt value
The melt value is the ceiling, not the offer. Here is what is known about what buyers pay and how to compare offers.
Why buyers pay less
A buyer has to test your gold, send it to a refinery, pay for refining and shipping, carry the risk of the price moving, and make a profit. All of that comes out of the melt value.
A published example
One refinery that publishes its terms, Northern Refineries in the US, says it pays 96% of the fine gold it recovers from karat gold for lots of 3 troy ounces or more, and 94% for smaller lots, based on the market price on the day the order is completed (Northern Refineries settlement terms, checked October 19, 2026). That is a refinery price for people who ship scrap to them. Jewelry stores, pawnshops, cash-for-gold shops and mail-in buyers set their own prices, which are not published in the same way, and they can be much lower. The only way to know is to ask several buyers for a written price per gram for your karat.
We do not publish “typical” percentages for pawnshops or jewelers, because we have not found reliable, current measurements for them. Guides online quote very different ranges.
How to compare offers
- Sort your gold by karat and weigh each group in grams.
- Use the calculator to get the melt value of each group.
- Ask at least three buyers for a price per gram for each karat, in writing or by email.
- Divide each offer by the melt value to see what share you are being offered.
- Be careful with mail-in offers: find out if you can get your items back unmelted if you refuse the price, and who pays for return shipping.
- Do not let the buyer weigh your gold out of sight.
When melt value is the wrong measure
Designer jewelry, antiques, signed pieces, collectible coins and items with good diamonds or gemstones can be worth more than their metal. Get those appraised before selling them as scrap.