Gold Price Calculator
Calculate the intrinsic melt value and pure gold content of jewelry, coins, and bullion across Karat purities and live market spot prices.
| Pure 24k Gold Price / Gram | $85.20 / g |
| Your Selected Karat Price / Gram | $49.69 / g (14k) |
| Total Item Weight in Grams | 25.00 grams |
| Full 100% Melt Value | $1,242.34 |
How Scrap Gold & Jewelry Melt Value is Calculated
The value of gold jewelry, coins, and bullion is determined by three variables:
- Weight: Measured precisely using an electronic scale in grams or pennyweights.
- Purity (Karat): The fraction of pure gold alloyed with other strengthening metals (such as copper, silver, or zinc). 24 Karat is 100% pure gold; 14 Karat is 14/24ths (58.33%) pure gold.
- Current Spot Price: The global benchmark trading price for one Troy Ounce of pure 24k gold.
The Mathematics of Gold Pricing
Here are the mathematical conversion formulas used by jewelers and refiners:
24k Price per Gram ($/g) = Spot Gold Price per Troy Ounce / 31.1035
Karat Purity Fraction = Karat / 24 (e.g. 14k = 14 / 24 = 0.5833)
Pure Gold Weight (Grams) = Total Item Weight (Grams) * Karat Purity Fraction
Total Melt Value ($) = Pure Gold Weight (Grams) * 24k Price per Gram * (Payout % / 100)
Step-by-Step Worked Calculation Example
Suppose you have a 14 Karat gold chain weighing 25.0 grams with the market spot price at $2,650.00 per Troy Ounce:
- Find 24k price per gram:
$2,650.00 / 31.1035 = $85.199 / gram - Find pure gold weight:
25.0 grams * (14 / 24) = 14.583 grams of pure 24k gold - Multiply pure grams by price per gram:
14.583 g * $85.199 = $1,242.34 full melt value - If selling to a local coin shop paying 90%:
$1,242.34 * 0.90 = $1,118.11 cash payout
Master Karat Purity & Hallmarks Reference Table
Purity percentages, hallmark stamps, and value per gram at a $2,650/ozt spot gold price:
| Karat Rating | Gold Purity % | Hallmark Stamp | Pure Gold per Gram | Value per Gram ($2,650 Spot) | Value per Pennyweight (dwt) |
|---|---|---|---|---|---|
| 24k | 99.99% | 999 / 999.9 | 1.000 g | $85.20 / g | $132.48 / dwt |
| 22k | 91.67% | 916 | 0.917 g | $78.10 / g | $121.44 / dwt |
| 18k | 75.00% | 750 | 0.750 g | $63.90 / g | $99.36 / dwt |
| 14k (US Standard) | 58.33% | 585 / 14K | 0.583 g | $49.70 / g | $77.28 / dwt |
| 10k (US Minimum) | 41.67% | 417 / 10K | 0.417 g | $35.50 / g | $55.20 / dwt |
| 9k (UK/Australia) | 37.50% | 375 / 9K | 0.375 g | $31.95 / g | $49.68 / dwt |
Troy Ounce vs Standard Ounce: The Critical Difference
A frequent source of confusion when selling gold is the difference between measuring scales:
- Troy Ounce (ozt): Used exclusively for precious metals (gold, silver, platinum, palladium). Exactly 31.1035 grams. There are 12 Troy Ounces in a Troy Pound.
- Avoirdupois Ounce (oz): Standard kitchen and bathroom weight. Exactly 28.3495 grams. There are 16 standard ounces in a regular pound.
- Pennyweight (dwt): Traditional jeweler unit. 1 Pennyweight equals 1.555 grams (20 pennyweights equal 1 Troy Ounce).
5 Tips When Selling Scrap Gold Jewelry
Frequently Asked Questions
Convert your item weight into grams, multiply by its Karat purity percentage (e.g. 58.33% for 14k), and multiply by the current price of pure gold per gram (Spot Price per Troy Ounce / 31.1035).
14k and 585 mean the exact same thing: the item is 14/24ths (58.33% or 585 parts per thousand) pure gold and 41.67% alloy metals for durability.
No. 14k white gold, 14k rose gold, and 14k yellow gold all contain the exact same 58.33% pure gold content. Only the alloy blend (nickel/palladium for white, copper for rose) differs.
Gold-plated (GP, HGE) jewelry has a microscopically thin gold layer and has essentially zero scrap value. Gold-filled (GF) items contain 5% to 10% gold by weight and carry small scrap value, but much less than solid gold.
Jewelers use nitric acid touchstone tests, electronic conductivity testers, or advanced X-ray Fluorescence (XRF) spectrometers to test the exact elemental purity without damaging the piece.