This calculator helps you estimate the value of items made from 14 karat (14k) gold. Unlike pure gold (24k), 14k gold is an alloy, meaning it's a mixture of gold and other metals. Understanding its composition is key to determining its value.
What is 14k Gold?
Karat is a unit of purity for gold. Pure gold is 24 karats (24k), meaning it is 100% gold. 14k gold means that out of 24 parts, 14 are pure gold. This translates to a gold purity of approximately 58.3% (14 divided by 24). The remaining 41.7% consists of other metals like copper, silver, nickel, or zinc, which are added to increase hardness, durability, and change the color of the gold.
How the Calculator Works:
The calculator takes into account several factors to provide an estimated retail value:
Weight of Gold: The total weight of the item in grams.
Pure Gold Content: Since 14k gold is 58.3% pure gold, we first calculate the actual amount of pure gold in your item by multiplying the total weight by 0.583.
Market Price of Pure Gold: This is the current global market price for one gram of pure gold. The calculator uses this to find the base value of the pure gold content.
Labor and Crafting Cost: Jewelry making involves skilled labor and intricate designs. This cost is added per gram to account for the manufacturing process.
Dealer Markup: Retailers add a markup to cover operational costs, profit, and perceived value. This is typically a percentage of the subtotal (pure gold value + labor).
The Calculation Formula:
The estimated retail value is calculated as follows:
Pure Gold Weight:Weight in grams * 0.583
Base Gold Value:Pure Gold Weight * Current Market Price (per gram)
Value Including Labor:Base Gold Value + (Weight in grams * Labor Cost per gram)
Total Estimated Value:Value Including Labor * (1 + (Dealer Markup / 100))
Example Scenario:
Let's say you have a 14k gold bracelet that weighs 30 grams. The current market price for pure gold is $65 per gram. The labor cost is estimated at $5 per gram, and the dealer's markup is 15%.
Pure Gold Weight:30g * 0.583 = 17.49 grams
Base Gold Value:17.49g * $65/g = $1,136.85
Value Including Labor:$1,136.85 + (30g * $5/g) = $1,136.85 + $150 = $1,286.85
In this example, the estimated retail value of the 14k gold bracelet would be approximately $1,479.88.
Important Considerations:
Market Fluctuations: The price of gold changes daily. Always use the most up-to-date market price for accurate calculations.
Gemstones and Other Materials: This calculator only accounts for the gold value. If your item contains gemstones or other precious materials, their value is separate and not included here.
Scrap vs. Retail Value: This calculator estimates the *retail* value. The *scrap* value (what a refiner might pay) would be significantly lower, primarily based on the pure gold content and market price, with minimal consideration for labor or markup.
Hallmarks: Look for hallmarks on your jewelry (e.g., "14K", "583", "14kt") to confirm its purity.
function calculate14kGoldValue() {
var weightGrams = parseFloat(document.getElementById("goldWeight").value);
var pricePerGramPure = parseFloat(document.getElementById("currentGoldPrice").value);
var laborCostPerGram = parseFloat(document.getElementById("laborCostPerGram").value);
var dealerMarkup = parseFloat(document.getElementById("dealerMarkup").value);
var resultElement = document.getElementById("result").querySelector("span");
if (isNaN(weightGrams) || isNaN(pricePerGramPure) || isNaN(laborCostPerGram) || isNaN(dealerMarkup)) {
resultElement.textContent = "Please enter valid numbers for all fields.";
resultElement.style.color = "red";
return;
}
if (weightGrams <= 0 || pricePerGramPure < 0 || laborCostPerGram < 0 || dealerMarkup < 0) {
resultElement.textContent = "Inputs must be positive values (except markup which can be 0).";
resultElement.style.color = "red";
return;
}
var purityFactor = 14 / 24; // 14k is 58.3% pure gold
var pureGoldWeight = weightGrams * purityFactor;
var baseGoldValue = pureGoldWeight * pricePerGramPure;
var valueWithLabor = baseGoldValue + (weightGrams * laborCostPerGram);
var estimatedRetailValue = valueWithLabor * (1 + (dealerMarkup / 100));
resultElement.textContent = "$" + estimatedRetailValue.toFixed(2);
resultElement.style.color = "#004a99"; // Reset to default color if calculation is successful
}