Gold Jewelry Value Calculator
Estimate the melt value of gold jewelry from its weight, karat purity and the current gold spot price per troy ounce.
How it works
Purity = karat ÷ 24 · Pure grams = weight × purity · Troy oz = pure grams ÷ 31.1035 · Value = troy oz × spot price
Gold jewelry is an alloy: its karat number is the share of pure gold out of 24 parts, so 14K is 58.3% gold and the rest is harder metals. Multiply the piece's weight by that purity to get the pure gold content, convert grams to troy ounces (31.1035 g each), and multiply by the spot price. This is the raw metal value a refiner works from, before any deductions.
Worked example
A 10 g 14K chain is 58.3% gold, or 5.83 g pure — that is 5.83 ÷ 31.1035 = 0.187 troy ounces. At a $2,400/ozt spot price the melt value is about $450, or roughly $45 per gram of the piece as a whole.
Frequently asked questions
Will a buyer pay the full melt value?
Rarely. Refiners and pawn shops pay a percentage of melt — often 70–90% for gold — to cover refining and profit. Melt value is the ceiling for scrap; a well-made or branded piece may be worth more sold intact.
What is a troy ounce?
Precious metals are weighed in troy ounces, which are heavier than the everyday (avoirdupois) ounce: one troy ounce is 31.1035 grams versus 28.35 for a standard ounce. Spot prices are always quoted per troy ounce.
Does the calculator include gemstones?
No — it values only the gold metal. Diamonds and other stones are valued separately by a gemologist and can far exceed the metal value in fine jewelry.
Related calculators
Estimates raw metal melt value only — not a retail, resale or insurance appraisal, which also reflect craftsmanship, brand and stones.