Gold Price Calculator
Find the raw scrap metal value of your gold based on purity, weight, and market rates.
The Formulas of Gold Scrap Calculations
Gold melt or scrap value relies on standard conversion factors. The primary unit of reference for trading precious metals is the Troy Ounce (1 troy ounce ≈ 31.1035 grams). A troy ounce is slightly heavier than a standard dry weight ounce (1 standard ounce ≈ 28.3495 grams).
Weight Conversions to Troy Ounces:
- Grams to Troy Ounces: weight / 31.1034768
- Pennyweights (DWT) to Troy Ounces: weight / 20
- Standard Ounces to Troy Ounces: weight * 0.911458
Purity Karat Conversions:
Pure gold is classified as 24 Karat. Any lower karat represents the fraction of pure gold alloyed with helper metals (e.g. copper, silver):
Gold Value = Pure Weight (Troy Ounces) * Market Price per Troy Ounce
Frequently Asked Questions
A troy ounce is an ancient unit of imperial weight measure used exclusively for precious metals like gold, silver, and platinum. It is equal to 31.1034768 grams, whereas a standard kitchen ounce is only 28.3495 grams.
No. This gold melt formula only evaluates the raw weight of the gold alloy itself. When selling gold jewelry, any embedded diamonds or precious stones must be unmounted or estimated separately.