Gold Melt Calculator
Calculate the melt value of gold jewelry, scrap gold, coins, bars, dental gold, broken chains, rings, bracelets, and mixed-karat lots. Enter weight, unit, karat purity, live/manual gold spot price, stone weight deduction, refining fee, assay loss, and buyer payout percentage to estimate pure gold content, gross melt value, net melt value, and dealer payout.
Calculate Gold Melt Value
Fees, Loss, and Payout
Optional Mixed Lot Helper
Enter one item per line as: weight,unit,karat. Example: 10,g,18 or 2,dwt,14.
Result
| Output | Value | Meaning |
|---|
Karat Value Table
| Karat | Purity | Value per gram | Value for 10g |
|---|
Formula Steps
What Is a Gold Melt Calculator?
A Gold Melt Calculator estimates the metal value of gold based on weight, purity, and spot price. It is commonly used for scrap gold, broken jewelry, old rings, chains, bracelets, coins, dental gold, and mixed-karat lots. The calculator focuses on melt value, which means the value of the pure gold content before or after fees, not the retail value, brand value, collectible value, or jewelry craftsmanship value.
World Gold Council explains that gold has both spot prices and the LBMA Gold Price, and that the LBMA Gold Price is an important benchmark in the gold market. LBMA states that the gold benchmark is set in U.S. dollars per fine troy ounce. :contentReference[oaicite:1]{index=1}
Gold Melt Value Formula
The core melt value formula is:
\[ Pure\ Gold\ Weight = Net\ Weight \times Purity \]
\[ Gold\ Price\ Per\ Gram = \frac{Spot\ Price\ Per\ Troy\ Ounce}{31.1034768} \]
\[ Gross\ Melt\ Value = Pure\ Gold\ Weight \times Gold\ Price\ Per\ Gram \]
\[ Net\ Payout = Gross\ Melt\ Value \times Payout\% - Fees - Melt\ Loss \]
NIST’s precious-metals conversion guidance states that to convert price per troy ounce to price per gram, divide the troy-ounce price by \(31.1034768\). :contentReference[oaicite:2]{index=2}
What Is Karat Purity?
Karat measures how much of a gold alloy is pure gold. Pure gold is \(24K\). Gold jewelry is often alloyed with other metals for strength, color, and durability. The purity formula is:
\[ Purity=\frac{Karat}{24} \]
For example:
\[ 18K=\frac{18}{24}=0.75=75\% \]
\[ 14K=\frac{14}{24}=0.5833=58.33\% \]
\[ 22K=\frac{22}{24}=0.9167=91.67\% \]
Common Gold Karat Purities
| Karat | Purity formula | Approximate purity | Common use |
|---|---|---|---|
| 24K | \(24/24\) | 100% | Fine gold, bullion-style purity reference |
| 22K | \(22/24\) | 91.67% | High-karat jewelry, coins in some markets |
| 21K | \(21/24\) | 87.50% | Middle East and South Asian jewelry |
| 18K | \(18/24\) | 75.00% | Fine jewelry |
| 14K | \(14/24\) | 58.33% | Common U.S. jewelry |
| 10K | \(10/24\) | 41.67% | Lower-karat jewelry |
| 9K | \(9/24\) | 37.50% | Common in some markets |
Gold Weight Units
Gold and precious metals are often quoted in troy ounces, not regular household ounces. NIST gives the exact conversion:
\[ 1\ troy\ ounce = 31.1034768\ grams \]
Other useful relationships:
\[ 1\ troy\ ounce = 20\ pennyweights \]
\[ 1\ pennyweight = 1.55517384\ grams \]
\[ 1\ carat = 0.2\ grams \]
Do not confuse gemstone carats with gold karats. Carat with a “c” is a gemstone weight unit. Karat with a “k” is a gold purity unit.
Why Jewelry Weight Is Not Pure Gold Weight
A piece of jewelry may weigh \(25\) grams, but that does not mean it contains \(25\) grams of pure gold. If it is \(18K\), only \(75\%\) of the metal weight is pure gold:
\[ Pure\ Gold=25g\times0.75=18.75g \]
If the jewelry has stones, enamel, steel springs, watch parts, filled components, clasps, or non-gold inserts, those should be deducted before calculating pure gold value.
Stone and Non-Gold Weight Deduction
The calculator includes a stone/non-gold deduction. If a ring weighs \(10g\) and contains a \(1g\) non-gold stone or insert, the net metal weight is:
\[ Net\ Weight=10g-1g=9g \]
Then karat purity is applied to \(9g\), not \(10g\).
Dealer Payout vs Melt Value
Melt value is the theoretical value of the pure gold content at spot price. A buyer may offer less than melt value because of refining costs, assay costs, risk, overhead, hedging, profit margin, and settlement timing. The payout formula is:
\[ Dealer\ Payout = Gross\ Melt\ Value \times Payout\% - Refining\ Fee - Flat\ Fee - Melt\ Loss \]
A payout of \(95\%\) of melt value is different from full melt value. Always compare offers by asking what percentage of melt value is being paid.
Worked Example
Suppose gold spot price is \(4,628.73\) per troy ounce, and you have \(25g\) of \(18K\) gold.
Price per gram of pure gold:
\[ PricePerGram=\frac{4,628.73}{31.1034768}=148.82 \]
Purity:
\[ 18K=\frac{18}{24}=0.75 \]
Pure gold weight:
\[ 25g\times0.75=18.75g \]
Gross melt value:
\[ 18.75\times148.82=2,790.38 \]
If the buyer pays \(95\%\), charges \(2\%\) refining fee, and assumes \(0.5\%\) melt loss, net payout is lower than gross melt value.
What Affects Gold Melt Value?
| Factor | Effect | Why it matters |
|---|---|---|
| Spot price | Higher spot price increases melt value | Gold is priced against market benchmarks |
| Karat purity | Higher karat means more pure gold | 24K is pure reference; 18K is 75% |
| Weight | More net gold weight increases value | Use accurate calibrated scale |
| Unit conversion | Wrong ounce type creates errors | Gold uses troy ounces |
| Stone weight | Reduces net gold weight | Stones and inserts are not gold |
| Refining fee | Reduces payout | Refiners and buyers deduct processing costs |
| Payout percentage | Determines offer vs melt value | Buyer may pay less than spot melt value |
| Assay accuracy | Can change purity estimate | Testing can reveal lower or higher fineness |
Melt Value vs Retail Jewelry Value
Melt value is not the same as retail jewelry value. Jewelry may have design value, brand value, gemstone value, antique value, handmade craftsmanship, collectible premium, or resale value as a finished item. Melt value ignores those extras and focuses only on metal content.
If a piece is branded, antique, rare, signed, or gemstone-heavy, selling it only for melt may undervalue it. For ordinary broken jewelry or scrap gold, melt value is often a useful baseline.
How to Use This Calculator
- Enter current gold spot price and choose whether the price is per troy ounce, gram, tola, or kilogram.
- Enter gold item weight and weight unit.
- Select karat purity or enter custom purity.
- Subtract stone or non-gold weight if applicable.
- Enter buyer payout percentage, refining fee, flat fee, and melt-loss assumption.
- Use the mixed lot helper if you have multiple items with different karats.
- Review gross melt value, net payout, pure gold weight, value per gram, and deductions.
Common Mistakes
| Mistake | Why it matters | Better approach |
|---|---|---|
| Using regular ounces instead of troy ounces | Gold is priced per troy ounce | Use \(31.1034768g\) per troy ounce |
| Using total jewelry weight as pure gold weight | Jewelry is often alloyed | Multiply by karat purity |
| Ignoring stones and inserts | Non-gold weight inflates value | Deduct stone/non-gold weight |
| Expecting full spot melt value from a buyer | Buyers deduct costs and margin | Compare payout percentage and fees |
| Confusing carat and karat | Carat is gemstone weight; karat is gold purity | Use karat for gold purity |
| Ignoring collectible value | Some jewelry is worth more than melt | Appraise valuable pieces before scrapping |
Why This Page Does Not Include Exam Score Tables
A Gold Melt Calculator is a precious-metals valuation tool, not an exam score calculator. Score guidelines, score tables, and next exam timetables do not apply directly to this page. The equivalent useful material is spot-price basis, troy ounce conversion, karat purity formulas, melt value formulas, buyer payout logic, refining fees, and practical scrap-gold selling guidance.
Gold Melt Calculator FAQs
What is gold melt value?
Gold melt value is the estimated value of the pure gold content in an item based on weight, purity, and spot price.
What is the gold melt value formula?
The formula is \(Gross\ Melt=Net\ Weight\times Purity\times Price\ Per\ Gram\).
How do I convert spot price per troy ounce to price per gram?
Use \(Price\ Per\ Gram=\frac{Spot\ Price}{31.1034768}\).
How is karat purity calculated?
Use \(Purity=\frac{Karat}{24}\). For example, \(18K=18/24=75\%\).
Is melt value the same as what a gold buyer pays?
No. Buyers may pay less than melt value after refining fees, assay costs, melt loss, overhead, and profit margin.
Should stone weight be deducted?
Yes. Stones, enamel, steel, watch parts, and other non-gold components should be deducted before calculating gold content.
What is the difference between karat and carat?
Karat measures gold purity. Carat measures gemstone weight.
Can jewelry be worth more than melt value?
Yes. Designer jewelry, antique pieces, signed pieces, gemstones, and collectibles may be worth more than metal melt value.
Suggested internal links: gold price calculator, gold gram calculator, gold customs duty calculator, investment calculator, jewelry calculator, unit converter, and precious metal calculators.