Gold Melt Value

Follow PtCalc
         

Access this page directly via: GoldCalculator.com

Gold Calculator

This gold calculator will determine the value of the gold metal inside your gold bullion, numismatic coins, or solid gold jewelry. If you are unsure if your jewelry is solid gold jewelry or gold plated, please review the sections below the gold calculator on gold hallmarks and gold testing.

To get the value of your gold metal, simply enter the following into the calculator:

  1. Amount - gram (gm) or troy ounce (ozt) (1 troy ounce (ozt) = 31.1035 grams)
  2. Purity - karat (kt) or fineness (parts per thousand) or percentage (%)
  3. Unit Price - Choose from 13 live currencies or over 170 non-live prices (updated regularly approximately every hour).

Please be aware that gold buyers will likely not give you 100% of the value of your gold metal. You can determine the percentage of market value at the bottom of the calculator.

If you need help using the gold metal calculator there is a gold calcualtor help section below the calculator.


Gold Calculator
Amount of Gold:
* Purity of Gold:

Percentage Gold: 99.9%

Price of gold per ounce:
 

Live Price
  USD
Value of gold metal:   USD


Percentage of market value:   %
Value of gold metal:
Percentage of market value
  USD

Gold Calculator Help

* Purity of Gold

  • Gold bullion - Gold bullion typically varies between 99.5% and 99.99%. Check the stamp on the bullion to confirm. If it is not stamped, it would require a test to determine its purity.
  • Gold jewelry - Gold jewelry is usually expressed in karat (kt) which is a unit of purity for gold alloys. The karat scale is out of 24, so pure gold is 24K gold and all other alloys are a fraction of 24 - for example 18K gold is 18 divided by 24, which means it is 75% gold. Gold jewelry will typically be hallmarked in the fineness scale which is out of 1000, so for instance 18ct gold, which is 75% gold, would be hallmarked 750.

Price of gold per ounce

  • Live gold prices - There are 13 currencies that you can get the live gold price from - Australian dollar (AUD), Canadian dollar (CAD), Swiss Franc (CHF), Yuan Renminbi (CNY), Czech Republic Koruna, Euro (EUR), United Kingdom pound (GBP), Japanese yen (JPY), Sri Lankan Rupee (LKR), Malaysian Ringgit (MYR), Singapore dollar (SGD), United States dollar (USD), and South Africian rand (ZAR). Please note that the price is only live on page load and on currency change - if you need to update the price, either refresh the page or deselect the currency and select it again.
  • Non-Live gold prices - There is over 170 currencies that you can get the non-live gold price from. These currencies are updated approximately every hour. The time since it has been updated will be below the currency selector.

Percentage of gold metal value

  • Bullion dealers - Bullion dealers generally give you the best price for your bullion. They sometimes buy scrap jewelry but may not be able to offer the best price for it (especially if jewelry contains precious stones).
  • Jewelers and Pawnbrokers - Some jewelers and most pawnbrokers buy second-hand jewelry. If the piece is a reputable brand and/or has precious stones then they may be able to offer you more than melt value of the jewelry. Otherwise, they would typically buy gold jewelry as a percentage of the of the gold metal inside the jewelry.
  • Shopping kiosks - Shopping malls with scrap metal kiosks provide a convenient method to sell your jewelry but will generally offer you the lowest percentage of the gold metal value inside the jewelry.

Scrap Gold Prices

This scrap gold price table below contains the price of gold per gram for different karats of gold.

Wednesday 27th of July 2016 Scrap Gold Prices
 

Karat Fineness Unit Price Per Gram Grams Total
24 Karat 999 USD * per gram grams
24 Karat 990 USD * per gram grams
23 Karat 958 USD * per gram grams
22 Karat 916 USD * per gram grams
21.6 Karat 900 USD * per gram grams
21 Karat 875 USD * per gram grams
20 Karat 833 USD * per gram grams
19 Karat 792 USD * per gram grams
18 Karat 750 USD * per gram grams
16 Karat 667 USD * per gram grams
15 Karat 625 USD * per gram grams
14 Karat 585 USD * per gram grams
12 Karat 500 USD * per gram grams
10 Karat 417 USD * per gram grams
9 Karat 375 USD * per gram grams
8 Karat 333 USD * per gram grams
     GRAND TOTAL:
Basis: * per troy ounce
Live Price

Gold Bullion Prices

The gold bullion price table below contains the price of gold for common bullion sizes in metric and imperial units. The gold purity used below is 99.9%.

Wednesday 27th of July 2016 Gold Bullion Prices
 

Metric Sizes Unit Price Quantity Total
1 gram USD *
2 grams USD *
2.5 grams USD *
5 grams USD *
10 grams USD *
20 grams USD *
25 grams USD *
50 grams USD *
100 grams USD *
1000 grams (1 kilogram) USD *
Imperial Sizes Price Quantity Total
1/20 toz USD *
1/10 toz USD *
1/4 toz USD *
1/2 toz USD *
1 toz USD *
2 toz USD *
2.5 toz USD *
5 toz USD *
10 toz USD *
20 toz USD *
50 toz USD *
     GRAND TOTAL:
Basis: * per troy ounce
Live Price

Gold Color Types

Pure gold is generally considered too soft to be made into jewelry. To make gold more practical for jewelry, it is mixed with other metals to form a gold alloy. The following are the most common gold color types:

  • Yellow gold - a mixture of gold, silver, copper, and zinc.
  • White gold - a mixture of gold and one or more white metals such as platinum, palladium, nickel or zinc.
  • Rose gold - a mixture of gold, copper, and silver.
  • Green gold (or Electrum) - a mixture of gold, silver, and sometimes copper.

Gold Plating

Please be aware that the gold calculator is for solid gold jewelry. Solid gold jewelry contains a uniform mixture of gold and other metals throughout the entire piece of jewelry. For instance, a 10g piece of 18 karat (750) solid gold jewelry contains 75% gold or 7.5 g of pure gold.

On the other hand, gold plated jewelry contains almost no gold - except gold filled jewelry. Gold is an expensive metal and it is cheaper to use other metals to make jewelry. To make gold jewelry more affordable whilst enjoying the aesthetic appeal from the color of gold metal, a very small amount of gold can be applied to the exterior of the jewelry instead of using it uniformly through the jewelry. Hence, gold plated jewelry is usually a fraction of the cost of solid gold jewelry.

  • Gold layered - a very thin layer of gold.
  • Gold leaf - a very thin sheet of gold metal is wrapped or glided over the jewelry.
  • Gold plated or gold electroplated - uses an electric current and a piece of jewelry, which acts as an electrode, inside a gold solution. The gold forms a coherent metal coating on the electrode.
  • Gold filled or gold overlay or rolled gold plated - Uses a heat or pressure bonding process to mix and bond the metals together. The term gold filled is supposed only be used if it contains more than 5% of the item's total weight, whereas using the terms gold overlay or rolled gold plated may be used if the gold makes up less than 5% of the item's total weight - please read Wikipedia's gold-filled jewelry article for more information.
  • Vermeil (pronounced ver-may) - gold plated sterling silver (92.5% silver).

To recap, gold plated jewelry contains an almost negligible amount of gold metal (with the exception of gold filled jewelry - see next section below for more information). The gold calculator is only applicable to solid gold jewelry, not gold plated jewelry.

Gold Filled Calculator

The gold calculator on this page is only applicable for solid gold jewelry, however it may be used for gold filled jewelry with some modifications to your calculation.

Firstly, look at the piece of jewelry you suspect is gold filled to see if there are any hallmarks to indicate the fraction used - usually 1/20 or 1/10.

Next, note whether it is gold filled "single" or "double" sided - this indicates whether the gold filled is on one side or two sides.

The possible combinations that you can have are:

  • Single sided, 1/20 - This means 1/40 (2.5%) of the item's total weight is the hallmarked gold purity.
  • Single sided, 1/10 - This means 1/20 (5%) of the item's total weight is the hallmarked gold purity.
  • Double sided, 1/20 - This means 1/20 (5%) of the item's total weight is the hallmarked gold purity.
  • Double sided, 1/10 - This means 1/10 (10%) of the item's total weight is the hallmarked gold purity.

For example, a 10 gram 18K solid gold piece of jewelry would be 75% pure gold (or 7.5g of gold). The amount of gold for the equivalent 18K gold filled jewelry would be:

  • Single sided, 1/20 18K - (10g x 750/1000 x 1/2 x 1/20 = 0.1875 g of pure gold) - 2.5% of solid gold equivalent
  • Single sided, 1/10 18K- (10g x 750/1000 x 1/2 x 1/10 = 0.375 g of pure gold) - 5% of solid gold equivalent
  • Double sided, 1/20 18K - (10g x 750/1000 x 1/20 = 0.375 g of pure gold) - 5% of solid gold equivalent
  • Double sided, 1/10 18K - (10g x 750/1000 x 1/10 = 0.75 g of pure gold) - 10% of solid gold equivalent

Hence, to use the gold calculator for determining the value of gold filled jewelry, you simply need to multiple the respective factor above of 2.5% (2.5/100), 5% (5/100), 5% (5/100), or 10% (10/100). To do this, you can either multiple this factor on the weight and enter the result into the weight (for instance, from above, for the first example, instead of 10 g put 0.25 g or 2.5% of 10g) or you may choose to put the percentage into the percentage of market value (use 10 g but instead of 100% of market value use only 2.5%).

Lastly, please be aware that gold hallmarks are sometimes faked and therefore may not be a reliable indicator of gold content.

Gold Hallmarks

A hallmark is a mark stamped on a piece of jewelry certifying the purity of metal used. There are hallmarking laws that apply to the sale of gold jewelry in some countries (such as the Hallmarking Act 1973 in the UK). However, globally there is no standard that must be followed therefore solid gold jewelry may or may not be hallmarked.

Solid Gold Hallmarks

Solid gold jewelry will have its purity stamped on it. The purity is expressed in karats (K or KT) which is expressed as fractions of 24 karat (pure gold) or the fineness scale which is expressed as parts gold per thousand. Please refer to the scrap metal price table for the relationship between karat and fineness.

Please be aware that gold jewelry may be hallmarked a certain karat and may not have that level of gold content (a lower karat rating) or may not be solid gold jewelry at all. Hence gold jewelry needs to be tested when valuing its gold metal content.

Gold Plated Gold Hallmarks

When inspecting gold jewelry, look for any noticeable discoloration, particularly around edges where more friction occurs. If you do notice discoloration or changes it its reflectivity, it is probably gold plated. Also take note of how heavy the jewelry feels, as gold is more dense than most common metals.

  • Gold plated or gold electroplated - "GP", "G.P", "GEP", "HGP" or "G.E.P".
  • Gold filled - "GF" or "G.F".
  • Vermeil - "925", ".925", or "S925"

You may choose to scratch a suspected plated piece deep enough to see the underlying metal to confirm th jewelry is not solid gold. As this is a destructive test, choose a discreet spot which will not be visible when worn, for example, around the clasp on a gold chain.

Gold Testing

As a gold buyer this is important to remember gold metal is expensive relative to most other metals therefore there is always an economic incentive to pass lower content gold as higher content gold. Hence, remember to test for gold purity.

Touchstone testing

This test involves the use of strong acids so before you begin this test, please ensure you have the personal protective equipment (PPE).

  • Safety goggles - to protect your eyes
  • Protective gloves - to protect your hands
  • Water, baking soda, paper towels - to dilute, neutralize, and clean acid spills respectively.

Also ensure you are in a well-ventilated area as the acids are strong and noxious.

This test involves rubbing the jewelry on a touchstone, an abrasive stone similar to fine sand paper, leaving behind some metal from the jewelry. The gold testing kit will have different strengths of nitric acid, the higher the karat rating the stronger the acid. Start with the lowest strength acid (lowest karat rating) and work upwards. If the acid does not dissolve the metal left of the touchstone after after 20 to 40 seconds, then it means that it is a higher karat then the test. Continue testing until it does dissolve, then you can confirm that the karat rating is between the previous rating tested and the test that dissolved the metal. Not a definitive test for the exact karat rating, but simple and cost effective.

A couple of things that may help you do this test is to use a gold test needle (see miscellaneous equipment) to use as a reference. Draw lines with the reference needle along with a line with the jewelry being tested, and test the acids perpendicular to the lines. This will make the test result more obvious seeing the result side by side a known gold content.

If you notice a highly effervescent green reaction then this indicates base metals and not solid gold jewelry.

X-Ray Fluorescence

This method of testing is non-destructive and is suitable for normal assaying requirements. A computer, called a x-ray fluorescent (XRF) analyzer, will use x-rays to determine the composition the the jewelry. It takes less than a few minutes to complete and the results may be printed out. Popular brands include Thermo Scientific Niton range or Olympus GoldXpert or DELTA Precious Metals XRF analyzers.

There is also a method called x-ray fluorescence assay which involves melting a sample into a uniform composition before testing the sample on a XRF analyzer. This method is more accurate then a XRF analyzer but less accurate then a fire assay.

Fire Assay

This method of testing is totally destructive however provides the greatest accuracy. The first part of the process is called fusion which involves mixing the sample with a fluxing agent (which helps melt, fuse, and separate the precious metal) and heating it to a high temperature. The second part of the process is called cupellation which involves using a collector, such a nickel or lead, to extract the precious metals.

The precious metals extracted from fire assay is then analyzed by one of the following methods:

  • Flame Atomic Absorption (AA)
  • Inductively Coupled Plasma-Atomic Emission Spectrometry (ICP-AES)
  • Inductively Coupled Plasma-Mass Spectrometry (ICP-AES)
  • Instrumental Neutron Activation Analysis (INAA)

Miscellaneous Equipment

Other equipment that is common in gold testing kits include:

  • Jewelers loupe provides magnification to see small details more closely. Handy for inspecting hallmarks.
  • Digital scale for precisely measuring the weight of jewelry.
  • Magnet for testing if there are magnetic metals in the jewelry.
  • Gold test needles for using as a reference in conjunction with the jewelry on the touchstone test.
  • Diamond tester for confirming a precious stone is a genuine diamond (or moissanite).

Invest

books ad

Books

Learn more about precious metals

bullion ad

Bullion

Invest in gold or silver


Why ?

  • World's biggest online bullion market
  • Low rates for buying and selling
  • Deal in any size
  • Next day withdrawals
  • Investment grade gold and silver
  • Allocated gold and silver
  • High security vaults
  • Daily audits
  • Wholesale storage rates and insurance
  • Deal at any time
  • Part-owned by the World Gold Council
  • Full member of the London Bullion Market Association

It's free to open an account and registration takes less than a minute. There's no obligation to trade.


coin ad

Bars and Coins

Invest in physical precious metals

USA USA Flag


Why ?

  • Free shipping on all $1000+ orders
  • Low premium, competitive prices

Canada Canada Flag


Why ?

  • International delivery options
  • Large range of bullion and numismatic coins

Singapore Singapore Flag


Why ?

  • One stop shop (view, buy, deposit, withdraw, sell)
  • Renowned place to store precious metals
Numismatics
USA Flag USA Flag
USA Flag USA Flag
USA Flag Canada Flag
UK Flag Australia Flag
Australia Flag Australia Flag