Gold Price Calculator

Calculating the value of mixed jewellery

If you have several items of different karats, calculate each one separately and add the results; never average the karats. For example, a 14K chain and an 18K ring should be entered as two lines with their own weights. The scrap gold calculator lets you add as many lines as you need and shows the combined melt value. Remember to remove or deduct stones, springs in clasps, and steel or silver parts, as these add weight but no gold value.

Calculating the price of bullion bars and coins

For bullion, purity is usually 99.9% or higher, so value ≈ weight × spot. A 1 oz coin is worth about $4,148.63, a 100 g bar $13,338.16 and a 1 kg bar $133,381.55. 22K coins such as the Krugerrand or Gold Eagle contain a full ounce of pure gold plus alloy, so their gold value is also about $4,148.63 despite the lower karat.

How the gold price calculator works

The calculator multiplies three numbers: the live spot price per gram, the weight of your item, and the purity of the metal. The formula is: value = weight in grams × purity × spot price per gram. If you enter ounces or kilograms, the weight is converted to grams first (1 troy ounce = 31.1035 g, 1 kg = 1,000 g).

With today's fine-gold price of $4,148.63 per ounce, the fine-gold price per gram is $133.38. A 20 g chain in 18K is therefore worth 20 × 0.75 × $133.38 = $2,000.72 in melt value.

Karat purity factors used

The disclosed nominal factors are 24K = 99.9%, 22K = 91.67%, 21K = 87.5%, 18K = 75%, 14K = 58.33%, 10K = 41.67% and 9K = 37.5%. Common hallmarks include 999, 916, 875, 750, 585, 417 and 375, but a stamped fineness can differ slightly from nominal karat math.

Quick reference per gram today: 22K $122.27, 18K $100.04, 14K $77.80, 10K $55.58.

Silver, platinum and palladium

The same formula applies to the other precious metals. Sterling silver is 92.5% pure, most silver bullion is 99.9%, and platinum jewellery is usually 95% pure (stamped 950).

Example: a sterling silver tray weighing 500 g contains 462.5 g of fine silver, worth about $849.66 at today's $57.14/oz. A 10 g platinum 950 ring is worth around $495.88.

Tips for accurate results

Weigh items on a kitchen or jewellery scale that shows at least 0.1 g. Remove stones, clasps and non-gold parts where possible, or subtract their estimated weight. Check the hallmark with a loupe — it is often hidden inside a ring band or on a clasp.

The result is the melt value at spot. Expect to pay more than this when buying and to receive less when selling, as dealers and refiners add margins and processing costs.

A repeatable checklist for a jewelry estimate

Before entering a weight, identify whether the item is solid alloy, hollow solid-gold construction, plated or filled. A mark such as 14K GF does not mean every gram is fourteen-karat gold. A replacement clasp can also have a different grade from the chain. If the full construction is unclear, a professional test is more useful than selecting a guessed purity. The calculator performs arithmetic using your choice; it does not certify the object or measure its alloy.

Ask a buyer which weight is accepted after stones and other components are deducted. Record the scale unit as well: some US buyers use pennyweights, while the calculator asks for its displayed weight unit. Compare separate purities independently rather than averaging karats. A 585 fineness mark and the nominal fourteen-karat fraction are not exactly identical, so a binding settlement should use the accepted assay or product specification. The nominal factors here are deliberately disclosed instead of hidden behind a rounded result.

When comparing an offer, divide the final net payment by the corresponding melt reference. Do not rely on an advertised percentage before checking deductions and settlement timing. If you are buying, include the product premium and delivered costs; if you are borrowing against an item, inspect the total redemption amount and deadline. Preserve potential brand, collector and gemstone resale value before treating intact jewelry as scrap. The source quote time should remain with your calculation, because a page refresh may still show the same cached observation.