Gold & Silver Melt Value Calculator
Calculate scrap gold and silver jewelry values using live spot prices
Input
Troy ounce (oz t) = 31.1035g
Karat = gold purity (24K = 99.9%)
Melt Value
Total Melt Value
$128.39
1 Gram of 24K gold
Weight
0.0322
troy oz
Purity
24.0K
99.9%
Pure Metal
0.0321
troy oz
Spot Price
$3,997.44
per oz t
Gold Karat Melt Values: 10K to 24K1 g
| Karat | Purity | Melt value |
|---|---|---|
| 99.9% pure gold | $128.39 | |
| 91.6% gold - Common in jewelry | $117.72 | |
| 87.5% gold - Middle Eastern jewelry | $112.46 | |
| 75% gold - Fine jewelry standard | $96.39 | |
| 58.5% gold - US jewelry standard | $75.18 | |
| 41.7% gold - Minimum for gold jewelry in US | $53.59 | |
| 37.5% gold - UK standard | $48.20 |
Frequently Asked Questions About Melt Values
- How is gold melt value calculated?
- Gold melt value is calculated by multiplying the weight (in troy ounces) by the gold purity (the hallmark fineness, 0.585 for 14K and 0.750 for 18K) and then by the current spot price. For example, 10 grams of 14K gold = (10g ÷ 31.1035) × 0.585 × spot price.
- What is the difference between 14K and 18K gold?
- 14K gold contains 58.5% pure gold (the 585 hallmark), while 18K gold contains 75% pure gold (the 750 hallmark). Higher karat gold has more pure gold content and therefore a higher melt value per gram.
- What is sterling silver purity?
- Sterling silver is 92.5% pure silver (.925), making it the standard for silver jewelry. Fine silver is 99.9% pure (.999), while coin silver (used in pre-1965 US coins) is 90% pure (.900).
- How much is my scrap gold jewelry worth?
- Scrap gold value depends on weight, purity (karat), and current spot price. Dealers typically pay 70-90% of melt value. Use this calculator to find the base melt value, then expect to receive a percentage of that when selling.
- What is a troy ounce?
- A troy ounce is the standard unit for measuring precious metals. One troy ounce equals 31.1035 grams, which is slightly heavier than a regular (avoirdupois) ounce at 28.35 grams. All precious metal spot prices are quoted per troy ounce.
- What are war nickels?
- War nickels are US five-cent coins minted from 1942-1945 that contain 35% silver. During World War II, nickel was needed for the war effort, so the mint used a silver-copper-manganese alloy instead. These coins are marked with a large mintmark above Monticello.