About the Gold Value Calculator
This gold value calculator turns a weight and a karat stamp into money. Enter how much your gold weighs (grams, troy ounces, pennyweights, kilograms or tola), pick its karat, type in the current spot price per troy ounce, and it works out the pure gold content and its melt value — what the metal alone is worth at the market price.
It is useful before you sell old jewelry, broken chains, dental gold or coins to a pawn shop, jeweler or online refiner. Buyers never pay the full melt value: they deduct a margin for refining, assay and profit, typically paying somewhere between 70% and 95% of melt depending on the quantity and the buyer. Enter the payout percentage you have been offered to see the cash figure and how much the buyer keeps.
Purity is taken as the theoretical karat fraction (14K = 14/24 = 58.3% gold). Weigh only the metal: stones, springs, steel clasps and solder add weight but no gold value. The default spot price of $4,000 per troy ounce is only an example — always type in the live price, which changes every minute the market is open.
With the default inputs, the expected cash offer is $600.15. Change any value above to recalculate instantly.
How to use the gold value calculator
- 1Weigh the gold on a jewelry scale, excluding stones and non-gold parts where possible.
- 2Choose the weight unit and the karat stamped on the piece (10K, 14K, 18K…).
- 3Enter today’s gold spot price per troy ounce.
- 4Enter the payout percentage a buyer has offered, or set it to 100% to see pure melt value.
- 5Compare the cash offer with the melt value to judge whether the quote is fair.
Formula and method
The item weight W is first converted to grams. Multiplying by the karat fraction K ÷ 24 gives the grams of pure gold. Gold is priced per troy ounce, and one troy ounce is exactly 31.1034768 grams, so the spot price S divided by 31.1034768 is the price of one gram of pure gold. Pure grams × price per pure gram is the melt value.
The expected offer applies the buyer’s payout percentage P. The calculator uses the theoretical karat fraction; real alloys are often a fraction under (much 14K tests near 58.3%, some older pieces slightly less), and a refiner’s assay is the final word.
- W
- Weight of the item in grams
- K
- Karat number (24 = pure gold)
- S
- Spot price per troy ounce of pure gold
- P
- Buyer payout as a fraction of melt value
Worked examples
10 g of 14K scrap at $4,000/oz, 80% payout
10 g × 14/24 = 5.833 g of pure gold. One gram of pure gold is $4,000 ÷ 31.1035 = $128.60, so the melt value is $750.18. A buyer paying 80% offers about $600.15 and keeps $150.04.
1 troy ounce of 22K coin gold at 95%
One troy ounce of 22K alloy holds 22/24 = 0.9167 oz of pure gold, worth $3,666.67 at $4,000/oz. At a 95% payout you would receive about $3,483.33.
15 dwt of 18K jewelry at $3,500/oz
Fifteen pennyweights is 0.75 troy ounce. At 18K (75% gold) that is 0.5625 oz of pure gold, worth $1,968.75 at $3,500/oz. A 75% offer comes to about $1,476.56.
Frequently asked questions
How do I calculate the value of my gold?+
Multiply the weight in grams by the purity (karat ÷ 24) to get the pure gold content, then multiply by the spot price per gram (spot per troy ounce ÷ 31.1035). That is the melt value; buyers pay a percentage of it.
How much of the spot price will a gold buyer pay?+
It depends on the buyer and the amount. Pawn shops and “cash for gold” stores often pay 50–80% of melt value, local jewelers 70–85%, and online refiners or bullion dealers 85–98% for larger lots. Always get more than one quote.
Is gold priced in troy ounces or regular ounces?+
Precious metals are priced in troy ounces of 31.1035 g, about 10% heavier than the 28.35 g avoirdupois ounce used for food. Kitchen-scale ounces must be converted before you multiply by the spot price.
What does 14K, 18K or 585 mean on jewelry?+
Karat measures purity out of 24: 14K is 14/24 = 58.3% gold and 18K is 75%. European stamps show parts per thousand instead, so 585 means 58.5% gold and 750 means 75%.
Do diamonds or gemstones add to the scrap gold value?+
No. Scrap buyers pay only for the metal and usually remove or ignore stones. Subtract the estimated stone weight, or have the stones removed, before weighing for a melt value estimate.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.