Enter the current rate for 24K gold found on news or Attica's website.
Attica typically deducts a small percentage for melting and testing.
Gross Value (Based on Purity):₹ 0
Deduction Amount (0%):₹ 0
Estimated Cash in Hand:₹ 0
How to Calculate Your Gold's Value at Attica Gold Company
When selling gold jewelry or coins to cash-for-gold companies like Attica Gold Company, understanding how the final payout is calculated is crucial. Unlike selling to a jeweler for an exchange, selling for cash involves specific calculations based on the purity of the metal and the current market fluctuations.
The Attica Gold Rate Calculator above mimics the valuation process used by professional gold buyers. It helps you estimate how much cash you can receive for your gold instantly, ensuring transparency before you visit a branch.
The Valuation Formula
Gold buyers generally follow a standardized formula to determine the buyback price. The formula used is:
Value = (Weight in Grams) × (Purity Percentage) × (Current 24K Market Rate)
For example, if you have a 10-gram chain and the current market rate for 24K gold is ₹7,200:
If the chain is 24K (99.9%): 10 × 1.00 × 7200 = ₹72,000
If the chain is 22K (91.6%): 10 × 0.916 × 7200 = ₹65,952
If the chain is 18K (75.0%): 10 × 0.75 × 7200 = ₹54,000
Understanding Gold Purity (Karats)
Most jewelry in India is made of 22K gold, while coins are often 24K. However, stones, enamel, and dust do not count towards the gold weight. Attica Gold Company typically melts the gold or uses a keratometer to determine the exact purity of the metal excluding other elements.
Karat
Purity Percentage
Common Usage
24K
99.9%
Coins, Bars, Bullion
22K
91.6% (916 Hallmarked)
Standard Jewelry, Chains, Bangles
18K
75.0%
Diamond Jewelry, Stone-set items
14K
58.3%
Fashion Jewelry
Deductions and Service Charges
When you sell gold for cash, the buyer usually applies a service charge or a "melting loss" deduction. While Attica Gold Company is known for offering competitive rates close to market value, a standard industry deduction (usually between 1% to 3%) is often applied to cover the cost of refining the gold back to bullion standards. This calculator allows you to input an estimated deduction percentage to see your "Net Cash in Hand."
Why Market Rate Fluctuates
The rate per gram changes daily based on international bullion markets. It is important to check the "Today's Gold Rate" specifically for 24K gold before using the calculator. Entering the correct market rate ensures your estimate is as accurate as possible.
function calculateGoldValue() {
// Get Input Values
var weightInput = document.getElementById('goldWeight').value;
var purityInput = document.getElementById('goldPurity').value;
var rateInput = document.getElementById('marketRate').value;
var deductionInput = document.getElementById('deduction').value;
// Parse Values
var weight = parseFloat(weightInput);
var purityKarat = parseFloat(purityInput);
var marketRate = parseFloat(rateInput);
var deductionPercent = parseFloat(deductionInput);
// Validation
if (isNaN(weight) || weight <= 0) {
alert("Please enter a valid weight in grams.");
return;
}
if (isNaN(marketRate) || marketRate <= 0) {
alert("Please enter a valid market rate per gram.");
return;
}
if (isNaN(deductionPercent) || deductionPercent < 0) {
deductionPercent = 0;
}
// Calculation Logic
// 1. Determine Purity Factor (e.g., 22K is 22/24)
var purityFactor = purityKarat / 24;
// 2. Calculate Gross Value based on 24K rate scaled down by purity
// Formula: Weight * (Karat/24) * Rate_24K
var grossValue = weight * purityFactor * marketRate;
// 3. Calculate Deduction Amount
var deductionAmount = grossValue * (deductionPercent / 100);
// 4. Calculate Net Value
var netValue = grossValue – deductionAmount;
// Display Results
var resultBox = document.getElementById('result-box');
resultBox.style.display = 'block';
// Formatting currency to Indian Rupee
var formatter = new Intl.NumberFormat('en-IN', {
style: 'currency',
currency: 'INR',
minimumFractionDigits: 0,
maximumFractionDigits: 0
});
document.getElementById('grossValueDisplay').innerText = formatter.format(grossValue);
document.getElementById('deductionPercentDisplay').innerText = deductionPercent;
document.getElementById('deductionAmountDisplay').innerText = "- " + formatter.format(deductionAmount);
document.getElementById('netValueDisplay').innerText = formatter.format(netValue);
// Scroll to result on mobile
resultBox.scrollIntoView({ behavior: 'smooth', block: 'nearest' });
}