Gold Calculator: Melt Value & Scrap Gold Worth
Calculate your gold's melt value instantly by weight, karat, and live spot price. Works for scrap jewelry, coins, and bullion.
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Price Chart
Data Methodology
Where does this price data come from?
Gold spot prices are sourced from Metals.Dev, a professional metals data provider, with automatic fallback to gold-api.com for redundancy. Prices are updated in real-time during market hours, ensuring you always see the latest data. All prices reflect the latest available mid-market spot rate.
How is the gold spot price determined?
The gold spot price is derived from the most actively traded futures contracts on COMEX (CME Group) and the London Bullion Market Association (LBMA). The spot price represents the current market price for immediate delivery, calculated from near-month futures contracts adjusted for carry costs. During off-hours, prices reflect OTC (over-the-counter) trading across global markets, providing continuous 24-hour price discovery.
When are precious metals markets open?
COMEX futures trade Sunday through Friday, 6:00 PM to 5:00 PM ET (23 hours per day with a 1-hour break). The London Bullion Market (LBMA) operates Monday to Friday with two daily fixings: AM fix at 10:30 AM London time and PM fix at 3:00 PM London time. Outside of formal exchange hours, precious metals continue to trade on OTC markets globally, meaning prices can move 24 hours a day, 5 days a week. Our data reflects these continuous market movements.
How to Calculate Gold Value
The melt value formula is straightforward: Weight (in grams) x Purity (karat / 24) x Spot Price Per Gram = Melt Value. Each variable matters.
A gold calculator automates this formula using live spot prices, giving you an instant valuation at current market rates. Jewelers appraising inventory, scrap gold buyers making purchase offers, and individuals selling inherited jewelry all start with the melt value as the baseline. Gold calculators also handle unit conversions between grams, troy ounces, pennyweight (dwt), and ounces. These units are frequently confused and lead to costly miscalculations if converted incorrectly.
One troy ounce equals 31.1035 grams (not 28.35 grams like a standard avoirdupois ounce). One pennyweight equals 1.555 grams. Professional jewelers and precious metal dealers work in troy ounces and pennyweight, while most household scales measure in standard grams or ounces. Accurate conversion is critical for a fair valuation.
A gold calculator automates this formula using live spot prices, giving you an instant valuation at current market rates. Jewelers appraising inventory, scrap gold buyers making purchase offers, and individuals selling inherited jewelry all start with the melt value as the baseline. Gold calculators also handle unit conversions between grams, troy ounces, pennyweight (dwt), and ounces. These units are frequently confused and lead to costly miscalculations if converted incorrectly.
One troy ounce equals 31.1035 grams (not 28.35 grams like a standard avoirdupois ounce). One pennyweight equals 1.555 grams. Professional jewelers and precious metal dealers work in troy ounces and pennyweight, while most household scales measure in standard grams or ounces. Accurate conversion is critical for a fair valuation.
Understanding Gold Purity
Gold purity is measured in karats (not to be confused with carats, which measure gemstone weight). Pure gold is 24 karats. Lower karat numbers indicate that the gold is alloyed with other metals like silver, copper, or zinc to increase hardness and durability. Jewelry and coins carry stamps or hallmarks indicating their purity, though stamps on older or counterfeit pieces are occasionally inaccurate.
Scrap Gold Prices
Scrap gold (broken jewelry, old chains, single earrings, dental gold, gold-filled items) is worth its melt value minus refining costs. Sellers need to account for the cost of assaying (testing), melting, and refining the material back into pure gold.
Refining costs: Typically 5-15% of melt value, depending on the quantity and purity of the material
Dealer payouts: Dealers and pawn shops pay 70-90% of melt value for scrap gold. Dedicated refiners and online buyers often pay more than local shops
Get multiple quotes: Prices vary significantly between buyers. Collect at least 3 offers before selling
Know your melt value first: Calculate it yourself before visiting any buyer so you know the fair price and negotiate from an informed position
Gold-filled and gold-plated items: These contain very little actual gold. Gold-filled items (marked GF) have a thin layer bonded to base metal; gold-plated items have even less. Most dealers will not buy plated items
Dental gold: Typically 10K-22K and accepted by most refiners. Bring it in separately from jewelry for a proper assay
Using Our Calculator
MetalCharts provides a free Melt Value Calculator using real-time spot prices. Enter the weight and karat of your gold, and the calculator instantly shows the current melt value in your selected currency. The calculator supports all common karats (9K through 24K), multiple weight units (grams, troy ounces, pennyweight), and all major currencies. It also calculates melt values for silver, platinum, and palladium. Visit our Melt Calculator for an instant, accurate valuation based on today's live spot price. No signup or payment required.
Published by MetalCharts, a free precious metals resource providing real-time prices, interactive charts, educational guides, and portfolio management tools. All market data sourced from COMEX, LBMA, and LME.
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Frequently Asked Questions
How do I calculate the value of my gold?
Weigh your gold in grams, determine its karat purity (check for stamps like 14K, 18K, 750, 585, etc.), then multiply: Weight (grams) x (Karat / 24) x Spot Price Per Gram. For example, a 5-gram 14K ring when gold is at $90/gram: 5 x (14/24) x $90 = 5 x 0.5833 x $90 = $262.50 melt value. Use our free Melt Calculator at /melt for instant calculations with live prices.
How much is 14K gold worth per gram?
14K gold is 58.33% pure gold (14 divided by 24). Multiply the 24K spot price per gram by 0.5833 to find the current 14K value. If pure gold is $90 per gram, 14K gold is worth approximately $52.50 per gram in melt value. Actual payouts when selling will be slightly less due to refining costs and dealer margins, typically 70-90% of melt value for scrap jewelry.
What do scrap gold dealers pay?
Most scrap gold dealers pay between 70% and 90% of the current melt value. Pawn shops offer the lowest prices (60-75%), while dedicated gold buyers and online refiners offer better rates (80-95%). The amount depends on the quantity of gold, its purity, your location, and how many quotes you collect. Calculate your melt value first using a gold calculator, then shop around for the best offer.
How accurate are gold calculators?
Gold calculators are highly accurate for determining melt value, provided you input the correct weight and karat. The main variables affecting accuracy are: the precision of your scale (jeweler's scales accurate to 0.01g are ideal), whether the karat stamp on your item is accurate, and how current the spot price data is. MetalCharts updates spot prices every 60 seconds. Melt value calculators show the raw material value; what you receive from a buyer will be less after their refining costs and margin.