Jewelry Melt-ish Estimate
Estimate the raw metal value of gold or silver jewelry from weight, karat or fineness and a spot price. Educational melt estimate, not a dealer offer.
Detailed guide
What it is, how to use it, how to read the numbers, common mistakes, a worked example, formulas, and FAQs.
What this calculator is
Scrap and estate jewelry is usually priced by its fine-metal content, not by its weight on the scale. A 10 g chain is not 10 g of gold: if it is 18-karat it is 75% gold and 25% other metals, so only 7.5 g counts toward melt value. This tool multiplies the gross weight by the purity you choose to get the fine weight, converts it to troy ounces, and values it at the current spot quote for the metal. People use it before visiting a pawn shop, refiner or "we buy gold" counter, when valuing inherited pieces, or when sanity-checking an advertised price per gram. The result is a raw metal estimate. Buyers normally pay a fraction of it to cover refining, testing and margin, and the quotes shown are delayed reference feeds, not a price anyone must honour.
When to use / who it helps
- You inherited or found gold or silver jewelry and want a ballpark of its metal content before getting offers.
- You are comparing a dealer's "per gram" buying price with the spot-based value of the same piece.
- You are deciding whether a broken chain or odd earring is worth selling for scrap or keeping.
- You want to convert a karat stamp such as 14K or 22K into the fine weight of gold the piece contains.
- You need the value of sterling silver (.925) items such as flatware or bracelets by weight.
How to use
Steps
- Select the metal (gold, silver, platinum or palladium) so the correct spot quote is used.
- Weigh the item on a kitchen or jewelry scale in grams. Weigh it without stones if you can, because gemstones add weight but no metal value.
- Enter the gross weight and choose grams or troy ounces. Remember that a troy ounce is about 31.1 g, heavier than an everyday ounce of 28.35 g.
- Choose the purity that matches the hallmark stamped on the piece: 24K (.999), 22K (.916), 18K (.750), 14K (.585), 10K (.417) or sterling (.925).
- Read the melt estimate first, then the fine metal weight and fine troy ounces to see how the figure was built.
- Subtract the dealer's typical discount yourself if you want an expected selling price; the tool shows the raw value only.
How to interpret results
- The headline number is the value of the pure metal in the piece at the quoted spot price, before any dealer deduction.
- Fine metal weight is the useful check: compare it with your own hand calculation of weight × purity to confirm the karat was entered correctly.
- A dealer offer well below this figure is normal because of refining cost and margin, but a very large gap deserves a second quote.
- Spot prices move during the day, so rerun the estimate on the day you plan to sell.
- Stones, signed designer pieces, antiques and collectible coins can be worth more than melt; this estimate then acts only as a floor.
Common mistakes & gotchas
- Entering the karat as the purity number. 18K is 75% pure (750), not 18, and choosing the wrong row changes the answer by tens of percent.
- Mixing troy ounces and ordinary (avoirdupois) ounces. A troy ounce is 31.1035 g, an ordinary ounce is 28.3495 g.
- Weighing the piece with gemstones, pearls or a clasp of a different metal and treating all of that weight as gold.
- Assuming a plated or gold-filled item has the stamped karat throughout; plating contains only a thin layer of gold.
- Treating the delayed spot quote as the price a buyer will pay today.
Worked example
Worked example — 10 g of 18K gold at an assumed $2,000 per troy ounce
- Gross weight is 10 g and 18K corresponds to a purity of 750 out of 1000, so the fine gold is 10 × 0.750 = 7.5 g.
- Convert to troy ounces: 7.5 ÷ 31.1034768 ≈ 0.24113 oz.
- Multiply by the spot price (the $2,000 here is an illustrative figure, not a current quote): 0.24113 × 2,000 ≈ $482.26.
- A buyer might offer a percentage of that figure after refining and margin, so treat $482 as the upper bound for a 10 g piece.
- For comparison, the same weight in 14K (.585) holds 5.85 g of gold and is worth about $376 at the same spot price.
Result: About $482 of raw gold in 10 g of 18K jewelry at the illustrative $2,000 per ounce; the real quote and any dealer discount will change it.
To load the form's own demo values, tap Try example above the Calculate button.
How to calculate / formula
Educational melt estimate only — dealers deduct fees; gemstones and workmanship are ignored.
Frequently asked questions
How do I convert karat to purity?
Divide the karat number by 24. 18K is 18 ÷ 24 = 75% gold, which is fineness 750. 22K is 91.6% (916) and 14K is 58.5% (585).
Why is a dealer's offer lower than the melt value?
Dealers pay for refining, testing, transport and their margin, and they take on price risk. Offers are commonly a percentage of melt, and the percentage varies by dealer and quantity.
What is the difference between a troy ounce and a regular ounce?
A troy ounce is exactly 31.1034768 grams and is used for precious metals. An avoirdupois ounce, used for food and ordinary goods, is 28.3495 grams.
Does this include the value of diamonds or gemstones?
No. The estimate covers only the metal. Stones, brand, age and craftsmanship can add value that this tool does not model.
How can I tell the purity of my jewelry?
Look for a stamp such as 14K, 585, 750 or 925. If there is no stamp, a jeweler can test the metal with acid or electronic testers; do not guess from colour.
Are the prices live?
They come from free reference feeds that can be delayed. Use them as a guide and confirm the current quote with the buyer.