Gold Melt Value Calculator
Print| Pure Gold Weight Content | 0.00 g |
Determine the true raw bullion value of your scrap jewelry, coins, and estate gold before selling. Use this Gold Melt Calculator to compute exact melt values based on current live gold spot prices, karat purity levels, and weight measurements in grams, troy ounces, or pennyweights (dwt).
The Formula for Gold Melt Value
Calculating the intrinsic melt value of scrap gold requires converting gross weight to fine gold weight and multiplying by live spot market prices:
Gold Purity Percentage = Karat / 24
Fine Gold Weight (Grams) = Gross Weight (Grams) × (Karat / 24)
Gold Melt Value = Fine Gold Weight (Grams) × (Live Gold Spot Price per Troy Ounce / 31.1035)
Where:
- Karat: Gold purity rating (e.g., 10k = 41.7%, 14k = 58.3%, 18k = 75.0%, 24k = 99.9%).
- 31.1035: Conversion factor representing the exact number of grams in one troy ounce.
- Pennyweight Conversion: 1 Pennyweight (dwt) = 1.55517 Grams.
Gold Karat Purity & Scrap Value Matrix
Refer to the lookup table below for benchmark purity percentages and estimated melt values per gram at a sample live gold spot price of $2,300 per troy ounce ($73.95/gram pure gold):
| Karat Rating | Gold Content % | Fine Gold per Gram | Melt Value per Gram ($2,300/oz Spot) | Est. Dealer Scrap Payout (80% to 90%) |
|---|---|---|---|---|
| 10K Gold | 41.67% | 0.4167 grams | $30.81 / gram | $24.65 – $27.73 / gram |
| 14K Gold | 58.33% | 0.5833 grams | $43.14 / gram | $34.51 – $38.83 / gram |
| 18K Gold | 75.00% | 0.7500 grams | $55.46 / gram | $44.37 – $49.91 / gram |
| 24K Gold (Pure) | 99.99% | 1.0000 grams | $73.95 / gram | $66.55 – $70.25 / gram |
Step-by-Step Gold Melt Calculation Example
Suppose you have a 14-karat gold necklace weighing 25 grams, and the current gold spot price is $2,400 per troy ounce:
- Determine Gold Spot Price per Gram: $2,400 / 31.1035 grams per troy ounce = $77.16 per gram of pure 24k gold.
- Determine 14k Gold Purity Factor: 14 / 24 = 0.5833 (58.33% pure gold).
- Calculate Fine Gold Weight: 25 grams gross weight × 0.5833 purity = 14.5825 grams fine gold.
- Calculate Total Intrinsic Melt Value: 14.5825 fine grams × $77.16 per gram = $1,125.19 melt value.
- Estimate Dealer Payout (85% Market Offer): $1,125.19 × 0.85 = $956.41 estimated cash offer from a reputable gold buyer.
Frequently Asked Questions
Do gold buyers pay 100% of the melt value for scrap gold?
No, gold buyers, pawn shops, and refineries deduct a commission percentage to cover melting, refining, and business overhead. Reputable buyers typically pay between 75% and 90% of total melt value.
What is the difference between a troy ounce and a standard ounce?
A troy ounce (used exclusively for precious metals) weighs 31.1035 grams, whereas a standard avoirdupois ounce weighs 28.3495 grams. Always ensure your gold is weighed in troy ounces or grams.
How do gemstones affect gold melt value calculations?
Gemstones, diamonds, and non-gold embellishments must be unmounted or deducted from the gross weight before calculating gold melt value, as weight scales must measure gold metal alone.
How can I verify the karat purity of unmarked gold?
Unmarked gold can be tested for purity using acid testing kits, electronic XRF (X-ray fluorescence) analyzers, or by visiting a licensed jeweler or pawn shop for non-destructive testing.