Its ruins lie on a hill above the Pulvermühle, a southern town quarter of Waischenfeld in the Upper Franconian county of Bayreuth in Bavaria.

The castle site is located within the Franconian Switzerland-Veldenstein Forest Nature Park on the Schlüsselberg, a hill also called the Galgenberg ("gallows hill"), in the valley of the Wiesent.

The easiest way to reach the old castle is from the eastern side of the Galgenberg.

There, near a monument on the edge of the wood, a path enters the trees.

To the north are the ruins of Waischenfeld Castle with its tower, the Steinerner Beutel and the former Schloss Gutenbiegen near the eponymous village; to the southeast are Rabenstein Castle and the burgställe of Wal zum hohen Loch and Alte Veste.