Metal
Estimated Melt Value
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Melt values are estimates based on spot prices and do not reflect dealer premiums, fabrication costs, or scrap buyback rates.
Melt value FAQ
How is melt value calculated?
Melt value = pure metal weight × spot price. First convert the item's weight to troy ounces, then multiply by its purity to get the pure metal content, then multiply by the current spot price per troy ounce. For example, 1 troy ounce of 14k gold (.585 pure) at a hypothetical $2,000/oz spot price contains 0.585 ozt of pure gold, so its melt value is 0.585 × $2,000 = $1,170.
What do 14k, 18k and .925 mean?
They describe purity. Karats measure gold out of 24 parts: 24k is essentially pure (.999), 18k is 18/24 = 75% gold (stamped 750), 14k is about 58.5% gold (stamped 585), and 10k is about 41.7% (stamped 417). For silver, .925 or "sterling" means 92.5% pure silver, and .900 "coin silver" means 90%. The rest of the alloy is other metals like copper, which add no melt value.
What is the difference between a troy ounce, a regular ounce and a gram?
Precious metals are priced in troy ounces. One troy ounce is 31.1035 grams, about 10% heavier than the everyday (avoirdupois) ounce of 28.35 grams used on kitchen and postal scales. Jewelers also use pennyweight (dwt): 1 dwt is 1/20 of a troy ounce, or 1.555 grams. Weighing in grams and letting the calculator convert avoids the common mistake of mixing up the two kinds of ounce.
Why do dealers and pawn shops pay less than melt value?
Melt value is the value of the pure metal at spot, before any costs. A buyer has to pay for assaying, refining or reselling the metal, cover overhead, and protect against the price moving before they sell, so offers on scrap gold and silver are normally a percentage of melt rather than the full amount. The exact percentage varies by buyer, item and quantity, so it pays to compare quotes against the melt value shown here.
How often do spot prices update?
Spot prices for gold, silver, platinum and palladium change continuously while global markets are open, which is nearly 24 hours a day on weekdays; they barely move over the weekend. This calculator's price feed syncs every 5 minutes, the page checks for new prices every 60 seconds, and results are hidden if the latest price is more than 15 minutes old.
Is melt value the same as what my coin or jewelry is worth?
Not always. Melt value is the floor set by the metal content. Rare or collectible coins can sell for well above melt because of numismatic demand, and branded or designer jewelry may carry a retail premium. Common bullion coins and broken or scrap jewelry, on the other hand, usually trade close to (or below) melt value.