About the Platinum & Palladium Value Calculator
This calculator works out the melt value of platinum and palladium items — rings, chains, watch cases, coins and bars — from their weight, purity mark and the current spot price. Choose the metal, enter the weight in grams, pennyweights or troy ounces, pick the fineness stamped on the piece (Pt950, Pt900, Pd500 and so on) and it returns the pure metal content and what that metal is worth at spot.
It is useful before selling jewelry to a refiner or pawnshop, when valuing an estate, or when checking whether a dealer’s offer is fair. Enter the percentage of melt value the buyer pays to see the cash offer you should expect, and use the table to compare values at other common purities.
Platinum jewelry is usually much purer than gold jewelry: 950 (95%) is the most common US mark. Under the FTC Jewelry Guides, items of at least 950 parts per thousand may be called simply “platinum”, 850–950 must show the fineness (for example “900 Plat.”), 500–850 may use the word only when the item contains at least 950 parts per thousand of platinum-group metals and each is marked (for example “585 Plat. 365 Pall.”), and below 500 the word platinum should not be used. Gemstones and non-metal parts are not included in melt value.
With the default inputs, the melt value is $488.69. Change any value above to recalculate instantly.
How to use the platinum & palladium value calculator
- 1Choose platinum or palladium.
- 2Weigh the item and pick grams, pennyweights or troy ounces.
- 3Select the purity stamped on the item, such as 950 or 900.
- 4Enter today’s spot price per troy ounce.
- 5Enter the buyer’s payout percentage to see the expected offer.
Formula and method
Platinum and palladium are priced per troy ounce of pure metal, so the calculator first converts the item weight to grams (1 pennyweight = 1.55517384 g, 1 troy ounce = 31.1034768 g), multiplies by the fineness (parts per thousand ÷ 1000) to get the pure metal weight, converts that to troy ounces and multiplies by the spot price.
The buyer offer applies the percentage of melt value a refiner or dealer quotes, which covers their refining, assay and profit margin. Alloying metals such as ruthenium, iridium, cobalt or copper are not valued, and any gemstones should be removed or their weight subtracted before entering the weight.
- Fineness
- Parts of pure platinum or palladium per 1,000 (e.g. 950)
- Spot price
- Price of one troy ounce of pure metal
Worked examples
10 g Pt950 wedding band
A 10 g band at 950 fineness holds 9.5 g of pure platinum, which is 0.3054 troy ounces. At $1,600 per ounce the melt value is about $488.69, and a buyer paying 80% of melt would offer roughly $391.
One-ounce palladium bullion coin
A 1 oz coin at 999.5 fineness contains 0.9995 oz of palladium, worth $1,299.35 at $1,300 spot. A dealer paying 95% of melt would offer about $1,234.
12 dwt of Pt900 jewelry
12 pennyweights is 0.6 troy ounces (18.66 g). At 90% purity that is 0.54 oz of pure platinum, worth $864 at $1,600 per ounce; at 75% payout the offer would be $648.
Frequently asked questions
How much is platinum jewelry worth per gram?+
Divide the spot price per troy ounce by 31.1035 and multiply by the purity. At $1,600 per ounce, Pt950 is worth about $48.87 per gram at melt, and a buyer will usually pay somewhat less than that.
What does Pt950 or 950 Plat mean?+
It means the item contains 950 parts per thousand (95%) pure platinum. In the US, 950 and above may be sold simply as “platinum”; 850–949 must be marked with the fineness, such as 900 Plat.
Is palladium jewelry valuable?+
Yes, but it depends on purity and the palladium price. Palladium jewelry is often 950 or 500 fineness; a 500 alloy is half palladium, so its melt value is about half that of the same weight at 950.
Why do buyers pay less than melt value?+
Refiners must assay, melt and separate the metal, and dealers need a margin. Payouts vary by buyer, purity and lot size, so get quotes as a percentage of spot from several buyers before selling.
How can I tell if an item is platinum or white gold?+
Look for a stamp such as PT950, PLAT or 900 Plat. White gold is marked with a karat (14K, 18K or 585, 750). Platinum is also noticeably heavier than white gold for the same size because it is denser.
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.