testing

It estimates the value of your gold based on the live gold price (spot), the purity (karat), and the weight you enter.
Depending on the options you select, it can show an estimated melt value (raw metal value) and a “scrap payout estimate” range.

Spot price is the market price for pure gold (typically quoted per troy ounce).
Melt value is your item’s estimated raw gold value after adjusting for purity and weight.
Scrap value / payout is what a buyer might pay you, which is usually lower than melt due to refining costs, overhead, and margin.

Karat measures purity. 24K is ~99.9% pure, while 14K is 14/24 pure (about 58.3%).
The calculator converts karat into a purity percentage so you can compare apples-to-apples.

Yes. Brand-name pieces, unique designs, antiques, or items with desirable gemstones can sell for more than melt.
Melt value is mainly useful for “scrap” scenarios (broken jewelry, bulk gold, simple chains, etc.).

Scrap buyers typically pay a percentage of melt (often a wide range) because they assume refining loss, processing costs,
and they need margin. Local competition and how much you’re selling also changes the offer.

Most gold market pricing is quoted in troy ounces.
One troy ounce equals 31.1035 grams. :contentReference[oaicite:0]{index=0}

Not really. Plated and gold-filled items have a thin layer of gold and require different assumptions.
This calculator is best for solid gold items marked with karat (10K/14K/18K/22K/24K) or tested gold.

Spot prices move constantly during market hours. Some “benchmark” prices (like the LBMA Gold Price) are set on a schedule.
For example, the LBMA Gold Price is set twice daily. :contentReference[oaicite:1]{index=1}

If your calculator UI includes a metal selector (gold vs silver), yes.
If your current widget is gold-only, it can be extended to support silver using the same exact logic (price × purity × weight),
just with a different spot price feed.

Get at least 2–3 quotes, ask what percent of melt they pay, and confirm whether they deduct assay/refining fees.
If you’re selling jewelry, consider whether it has resale value beyond melt (brand, style, gemstones).