Gold Melt Value Calculator
Use this calculator to determine the melt value of your gold items based on their weight, purity (karats), and the current market price of gold. This tool helps you estimate the intrinsic value of your gold before any refining fees or dealer markups.
Calculation Results:
Enter values and click "Calculate Gold Value" to see the results.
Understanding Gold Melt Value
The "melt value" of gold refers to the intrinsic value of the pure gold content within an item, based on its weight and purity, and the current market price of gold. This is often the starting point for jewelers, refiners, or buyers when determining how much they are willing to pay for scrap gold, old jewelry, or gold coins.
Key Factors in Gold Melt Value:
- Item Weight: This is the total weight of your gold item, including any non-gold components (like stones, though these are usually removed before melting). Common units are grams, troy ounces, or pennyweights (DWT).
- Gold Purity (Karats): Gold purity is measured in karats (K). Pure gold is 24K. Lower karat numbers indicate a lower percentage of pure gold mixed with other metals (alloys) to increase durability or change color. For example, 14K gold is 14 parts pure gold out of 24 total parts, meaning it's approximately 58.3% pure gold.
- Current Gold Market Price: The price of gold fluctuates daily based on global markets. It is typically quoted per troy ounce, but can also be found per gram or kilogram.
- Melt Loss / Refining Fee: When selling gold to a refiner or dealer, they will often deduct a percentage for "melt loss" or "refining fees." This covers the cost of melting the gold, separating it from impurities, and their profit margin. This percentage can vary, but 3-10% is common.
How the Calculator Works:
Our Gold Melt Value Calculator simplifies this process for you:
- It takes your item's total weight and converts it to a standard unit (grams).
- It determines the percentage of pure gold based on the karat value you select.
- It calculates the "pure gold weight" by multiplying the item's total weight by its purity percentage.
- It converts the current market price of gold (e.g., per troy ounce) into a price per gram.
- It then multiplies the pure gold weight by the price per gram to give you the total intrinsic value of the pure gold.
- Finally, it applies any specified melt loss or refining fee to give you an estimated net value.
Example Calculation:
Let's say you have a 14K gold ring weighing 10 grams, and the current market price of gold is $2000 per troy ounce. You anticipate a 5% melt loss/refining fee.
- Item Weight: 10 grams
- Gold Purity: 14K = 14/24 = 0.5833 (58.33% pure gold)
- Pure Gold Weight: 10 grams * 0.5833 = 5.833 grams
- Market Price per Gram: $2000 / 31.1035 grams/troy ounce = $64.30 per gram (approximately)
- Total Gold Value: 5.833 grams * $64.30/gram = $375.00
- Value After 5% Melt Loss: $375.00 * (1 – 0.05) = $375.00 * 0.95 = $356.25
This calculator provides a quick and easy way to get a realistic estimate of what your gold might be worth.
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function calculateGoldMeltValue() {
// Get input values
var itemWeightStr = document.getElementById('itemWeight').value;
var weightUnit = document.getElementById('weightUnit').value;
var goldPurityKaratStr = document.getElementById('goldPurity').value;
var marketPriceStr = document.getElementById('marketPrice').value;
var priceUnit = document.getElementById('priceUnit').value;
var meltLossStr = document.getElementById('meltLoss').value;
// Parse to numbers
var itemWeight = parseFloat(itemWeightStr);
var goldPurityKarat = parseFloat(goldPurityKaratStr);
var marketPrice = parseFloat(marketPriceStr);
var meltLoss = parseFloat(meltLossStr);
var resultDiv = document.getElementById('result');
resultDiv.innerHTML = "; // Clear previous results
// Input validation
if (isNaN(itemWeight) || itemWeight <= 0) {
resultDiv.innerHTML = 'Please enter a valid positive item weight.';
return;
}
if (isNaN(goldPurityKarat) || goldPurityKarat 24) {
resultDiv.innerHTML = 'Please select a valid gold purity (Karats).';
return;
}
if (isNaN(marketPrice) || marketPrice <= 0) {
resultDiv.innerHTML = 'Please enter a valid positive current gold market price.';
return;
}
// Melt loss is optional, so only validate if it's provided and not NaN
if (!isNaN(meltLoss) && (meltLoss 100)) {
resultDiv.innerHTML = 'Melt Loss / Refining Fee must be between 0 and 100%.';
return;
}
// Step 1: Convert Item Weight to Grams
var weightInGrams;
if (weightUnit === 'grams') {
weightInGrams = itemWeight;
} else if (weightUnit === 'troyOunces') {
weightInGrams = itemWeight * 31.1034768; // 1 troy ounce = 31.1034768 grams
} else if (weightUnit === 'dwt') {
weightInGrams = itemWeight * 1.55517384; // 1 pennyweight (DWT) = 1.55517384 grams
} else {
resultDiv.innerHTML = 'Invalid weight unit selected.';
return;
}
// Step 2: Calculate Purity Percentage (decimal)
var purityDecimal = goldPurityKarat / 24;
// Step 3: Calculate Pure Gold Weight (grams)
var pureGoldWeightGrams = weightInGrams * purityDecimal;
// Step 4: Convert Market Price to Price per Gram
var pricePerGram;
if (priceUnit === 'troyOunce') {
pricePerGram = marketPrice / 31.1034768; // Price per troy ounce / grams per troy ounce
} else if (priceUnit === 'gram') {
pricePerGram = marketPrice;
} else {
resultDiv.innerHTML = 'Invalid price unit selected.';
return;
}
// Step 5: Calculate Total Gold Value (before fees)
var totalGoldValue = pureGoldWeightGrams * pricePerGram;
// Step 6: Apply Melt Loss / Refining Fee
var finalValue = totalGoldValue;
var meltLossAmount = 0;
if (!isNaN(meltLoss) && meltLoss > 0) {
meltLossAmount = totalGoldValue * (meltLoss / 100);
finalValue = totalGoldValue – meltLossAmount;
}
// Display Results
var outputHTML = '
Estimated Gold Melt Value:
';
outputHTML += '
Item Weight: ' + itemWeight.toFixed(2) + ' ' + weightUnit + ";
outputHTML += '
Gold Purity: ' + goldPurityKarat + 'K (' + (purityDecimal * 100).toFixed(2) + '%)';
outputHTML += '
Pure Gold Weight: ' + pureGoldWeightGrams.toFixed(3) + ' grams';
outputHTML += '
Current Market Price: $' + marketPrice.toFixed(2) + ' ' + priceUnit + ' (approx. $' + pricePerGram.toFixed(2) + ' per gram)';
outputHTML += '
Value of Pure Gold (before fees): $' + totalGoldValue.toFixed(2) + '';
if (!isNaN(meltLoss) && meltLoss > 0) {
outputHTML += '
Melt Loss / Refining Fee (' + meltLoss.toFixed(1) + '%): -$' + meltLossAmount.toFixed(2) + ";
outputHTML += '
Estimated Net Melt Value: $' + finalValue.toFixed(2) + '';
} else {
outputHTML += '
Estimated Net Melt Value: $' + finalValue.toFixed(2) + ' (No melt loss applied)';
}
resultDiv.innerHTML = outputHTML;
}