Gold melt value calculator
Short answer: Melt value is the weight of pure gold in the piece multiplied by the spot price. Multiply total weight by purity (karat divided by 24, or the stamped fineness) to get the pure gold, convert it to troy ounces, then multiply by spot.
How to use it
- Enter the total weight of the piece and choose its unit. Weigh the item on a scale accurate to 0.01 g.
- Pick the purity from its stamp: 24K (0.999), 22K (0.916), 18K (0.750), 14K (0.585) or 10K (0.417).
- Enter today's gold spot price per troy ounce in your currency, from your preferred price source.
- Read the melt value and the pure gold content in grams and troy ounces.
Formula: melt value = total weight (troy oz) × purity × spot price per troy oz
Questions
What is melt value?+
Melt value is what the metal in an item is worth at the spot price, ignoring any collectible, brand or craftsmanship value. It is a floor for the price of gold items, because the metal can be refined.
How do I convert karat to purity?+
Divide the karat by 24. 18K is 18 divided by 24, or 75% gold (0.750). Items are usually stamped with the fineness number instead, such as 750 for 18K or 585 for 14K.
Why is a dealer's offer lower than melt value?+
Buyers refine or resell the metal and keep a margin to cover assay, refining, risk and profit, so offers are usually a percentage below melt. Compare several offers and know your melt value first.
Does this tool use live prices?+
No. You enter the spot price yourself so the result matches the price you are looking at. BullionKeeper itself tracks live spot values for your whole collection.
Is a troy ounce the same as a regular ounce?+
No. A troy ounce is 31.1035 grams, about 10% heavier than the 28.35 gram avoirdupois ounce. Precious metals are priced per troy ounce.
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