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SCRAP GOLD

Due to unprecedented conditions in the precious metals markets, our gold and silver processing time is experiencing delays. Processing turn-around time on gold is approximately 2 weeks, and silver is approximately 8 weeks. We appreciate your patience and look forward to working with you.

 

Gold Payout Schedule:
  • • <10ozt*: 95%
  • • ≥10ozt*: 97%

*ozt=gross troy ounces

Here are our gold purity averages:
  • • 40% pure on 10K
  • • 56% pure on 14K
  • • 74% pure on 18K
A quick note on our gold formulas:
  • • Our gold formulas are based on the metal weighed on a gram scale, not a gold assay.
  • • Our gold payouts are based on the average gold purity percentage contained in scrap gold. This means there are no fluctuations of the purity percentages of your gold, and no processing fees. For example, in a gold assay for 14K, the purity percentage can fluctuate between 53.5% and 58.5%.
  • • Most 14K assays out at an average of 56% pure, so we a figure a constant 56% on your gold purity for 14K every time.
  • • If you reject the offer, we will return your gold in the same condition you sent it, un-melted.

Formulas for Silver :

  • Pure Silver Spot Price X .89 ÷ 31.103 = price per gram
  • 925 Sterling Spot Price X .925 X .79 ÷ 31.103 = price per gram
  • 900 Silver Spot Price X .90 x .77 ÷ 31.103 = price per gram
  • 800 Silver Spot Price X .80 x .59 ÷ 31.103 = price per gram
  • 400 Silver Spot Price X .40 x .23 ÷ 31.103= price per gram

Formulas for Platinum :

  • 900 Platinum Spot Price X .90 x .89 ÷ 31.103 = price per gram
  • 950 Platinum Spot Price X .95 x .89 ÷ 31.103 = price per gram

Formulas for Palladium :

  • Jewelry Grade Spot Price X .82 ÷ 31.103 = price per gram

OUR GOLD PAYOUT FORMULAS

Here are the complete formulas with the gold purity percentages we use to payout for scrap gold based on weighing the gold on the gram scale:
  • • 8K : Spot Gold x .333 x .97 ÷ by 31.103 = price per gram
  • • 9K : Spot Gold x .375 x .97 ÷ by 31.103 = price per gram
  • • 10K : Spot Gold x .40 x .97 ÷ by 31.103 = price per gram
  • • 12K : Spot Gold x .49 x .97 ÷ by 31.103 = price per gram
  • • 14K : Spot Gold x .56 x .97 ÷ by 31.103 = price per gram
  • • 16K : Spot Gold x .66 x .97 ÷ by 31.103 = price per gram
  • • 18K : Spot Gold x .74 x .97 ÷ by 31.103 = price per gram
  • • 20K : Spot Gold x .83 x .97 ÷ by 31.103 = price per gram
  • • 21K : Spot Gold x .875 x .97 ÷ by 31.103 = price per gram
  • • 22K : Spot Gold x .916 x .97 ÷ by 31.103 = price per gram
  • • 24K : Spot Gold x .97 ÷ by 31.103 = price per gram
  • • 900 Coins : Spot Gold x .90 x .97 ÷ by 31.103 = price per gram

*Note that these formula are using a 97% payout. To calculate a 95% payout replace .97 in the formulas with .95.

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