How the Gold Melt Calculator works
This calculator estimates the melt value of a gold item — jewelry, coins, or scrap — from its weight, karat purity, and the current spot price of gold. Melt value is the value of the pure gold content alone, based only on weight and purity; it ignores craftsmanship, brand, or collector premiums.
The formula
Karat purity follows the standard scale of karat ÷ 24, since 24 karat represents (nearly) pure gold:
Pure gold weight = item weight × (karat ÷ 24)
Melt value = (pure gold weight ÷ 31.1034768) × spot price per troy ounce
31.1034768 grams is exactly one troy ounce, the unit precious metals are quoted in. Dividing the pure gold weight in grams by that figure converts it to troy ounces before multiplying by the per-ounce spot price.
Worked example
A 10-gram 14K ring at a $2,400/oz spot price: pure gold weight = 10 × (14 ÷ 24) = 5.833 g. Converted to troy ounces, that is 5.833 / 31.1034768 ≈ 0.1875 oz t. Melt value = 0.1875 × $2,400 ≈ $450. At a 90% dealer payout, the estimated offer is about $405.
Why karat matters
- 24K jewelry is typically stamped 999 or 9999 fine — about 99.9% gold by weight.
- 18K is 75.0% gold, with the remainder made up of alloy metals like copper, silver, or nickel for durability.
- 14K and 10K (common in the U.S. for durability and cost) are 58.3% and 41.7% gold respectively — lower purity means proportionally lower melt value for the same weight.
Melt value versus what a buyer pays
Melt value is a theoretical ceiling, not a quote. Refiners and pawn or jewelry buyers typically offer a percentage of melt value to cover refining costs, testing, overhead, and profit margin — the payout percentage input lets you model that discount. Getting an item's exact karat verified (by acid test or electronic tester) also matters: a piece stamped 14K that tests lower will melt for less than the stamped-purity math predicts.