Gold Melt Value Calculator
Enter your gold item's weight, purity (karat), and the current gold spot price to see its melt value - the raw intrinsic worth of the metal inside. The calculator also shows the dealer bid and ask prices using a spread percentage, so you can see what a buyer might realistically offer versus what you could expect to pay at retail. Works in grams, troy ounces, pennyweights, or grains, and covers every common karat from 9K to 24K.
What is gold melt value?
Melt value is the intrinsic worth of the gold metal inside a piece of jewelry, a coin, or any other gold item, based entirely on the weight of pure gold it contains and the current market spot price. It ignores craftsmanship, design, brand, gemstones, and any collectible premium. Think of it as the absolute floor value of the gold, what a smelter or refiner would pay if the piece were melted down and the pure metal recovered. For plain gold items like simple chains, bangles, and scrap pieces, melt value closely tracks what buyers will offer. For rare coins, antique jewelry, or designer pieces, the item may be worth considerably more than its melt price.
How to use this calculator
Enter the total weight of your gold item and choose the unit you weighed it in (grams are most common for jewelry, troy ounces for coins and bars). Select the karat - this is usually stamped inside a ring, on a clasp, or on a coin. If you know the exact purity percentage instead, choose "custom purity" and type it in. Then enter the current gold spot price, which you can find on sites like Kitco, Gold Price, or APMEX, and the dealer spread you expect. The spread represents the percentage gap between what a dealer pays and what they charge. Scrap and pawn buyers typically use a 10-30% spread; specialist gold buyers and refiners might be as tight as 1-5%. The result shows your item's melt value, the probable dealer bid (what they would pay you), and the dealer ask (what you would pay to buy equivalent gold). The "show your work" panel walks through every step of the arithmetic.
The gold melt value formula
The calculation has three steps. First, convert your item's weight to troy ounces using the appropriate factor (1 gram = 0.032151 troy oz, 1 pennyweight = 0.05 troy oz, 1 grain = 0.002083 troy oz). Second, multiply the troy-ounce weight by the purity fraction to get the fine gold content: purity fraction = karat / 24, so 18K gold has a fraction of 18/24 = 0.75. Third, multiply the fine-gold troy-ounce weight by the spot price: Melt Value = (Weight in ozt) x (Purity fraction) x (Spot price per ozt). For example, a 10-gram 18K gold ring weighs 10 / 31.1035 = 0.32151 troy oz; the fine gold content is 0.32151 x 0.75 = 0.24113 troy oz; at $3,300/ozt, the melt value is 0.24113 x 3,300 = approximately $795.73.
Understanding dealer bid and ask prices
When you sell gold, dealers will offer less than melt value to cover their costs and profit - this is the "bid" side. When you buy gold, you pay more than melt value - this is the "ask" side. The difference between the two is the spread, and this calculator splits it symmetrically around melt value. Reputable scrap gold buyers typically pay 70-90% of melt value; specialist buyers and refiners often reach 90-98%. Pawn shops and general jewelers tend to offer only 50-70%. Always get at least two or three quotes, and be aware that some buyers quote a "per gram" price without mentioning the karat, which makes comparison harder. Knowing your melt value going in gives you negotiating power.
Gold karat purity and melt value per gram at $3,300/ozt
| Karat | Purity (%) | Fine gold fraction | Value per gram (USD) | Common use |
|---|---|---|---|---|
| 24K | 99.99 | 0.9999 | 106.09 | Bullion bars, coins |
| 22K | 91.67 | 0.9167 | 97.26 | Gold Eagles, Sovereigns |
| 21.6K | 90.00 | 0.9000 | 95.49 | Middle East jewelry |
| 18K | 75.00 | 0.7500 | 79.57 | Fine jewelry (EU/US) |
| 14K | 58.33 | 0.5833 | 61.89 | Everyday jewelry (US) |
| 10K | 41.67 | 0.4167 | 44.21 | Minimum US legal gold |
| 9K | 37.50 | 0.3750 | 39.79 | UK/Australian jewelry |
Reference values at a spot price of $3,300 USD per troy ounce. Actual melt values scale proportionally with the spot price.
Frequently asked questions
How do I find the karat of my gold item?
Look for a small hallmark stamp, usually inside a ring band, on a bracelet clasp, on a chain near the clasp, or on the edge of a coin. Common stamps include "18K", "750" (meaning 75.0% gold = 18K), "585" (58.5% = 14K), "375" (37.5% = 9K), and "999" or "9999" (fine gold). Jewelry sold in the US must be at least 10K (417) to be legally labeled gold. If you cannot find a stamp, a jeweler can test the purity with an acid test or an electronic tester for a small fee.
What is the difference between grams and troy ounces for gold?
Precious metals are traded by the troy ounce, which equals 31.1035 grams - slightly heavier than the avoirdupois ounce (28.35 g) used for everyday weights. When you see "gold at $3,300 per ounce," that is per troy ounce. Jewelry is usually weighed in grams. This calculator handles both: just select your unit and it converts internally. Pennyweights (dwt) are also common in the jewelry trade: 1 troy ounce = 20 dwt.
Does melt value include the value of gemstones?
No. Melt value covers the pure gold metal only. Gemstones, enamel, and other components are not included in this figure. A diamond solitaire on a gold ring could be worth many times the gold's melt value. If you are selling such a piece, get it appraised separately for the stone value and the gold value before accepting any offer.
How often does gold spot price change?
The gold spot price updates continuously during trading hours on global commodity exchanges. Prices can move several percent in a single day on significant news. For accurate melt-value calculations, always use a live price from a source such as Kitco.com, Goldprice.org, or APMEX.com rather than a price from memory. This calculator does not include a live price feed - you enter the current price yourself so you control its accuracy.
Can I use this for gold coins?
Yes. Most bullion gold coins are 22K (91.67% gold), including the American Gold Eagle, the South African Krugerrand, and the British Sovereign. Some, like the Canadian Gold Maple Leaf and the American Gold Buffalo, are 24K (99.99%). Check the coin's specifications, enter its actual weight (not the face value), select the correct karat, and the calculator will give you the melt value. Note that popular coins may trade at a premium above melt due to their liquidity and recognition.
What is the minimum karat that is legally called gold in the US?
In the United States, items must contain at least 10 karats (41.67% pure gold) to be sold or stamped as "gold." Items below this threshold cannot legally bear a karat stamp and must not be marketed as gold jewelry. In the UK and most of Europe, the minimum is 9K (37.5%). Some countries, particularly in Asia and the Middle East, favor 21K or 22K jewelry as cultural standards.