Gold Calculator
Find out exactly what your gold is worth. Enter the weight, karat, and today's spot price to get the market value and what different types of buyers will actually pay you.
Enter your current spot price. Gold prices change every trading day. The default is a recent estimate only. Check live prices at kitco.com or goldprice.org before making any financial decisions.
Gold Spot Price
1 troy oz = 31.1035 grams. Update this to the current price before calculating.
Gold Weight
Gold Purity (Karat)
Market Value
100% of spot value
What Buyers Actually Pay
92–98% of market | Highest payout, usually requires shipping your gold.
70–85% of market | Convenient, but lower payouts due to overhead and resale costs.
50–70% of market | Fast cash, but pawn shops typically pay the least of all buyers.
55–75% of market | Mail-in services vary widely. Always compare offers before accepting.
Formula
Value = (weight_g ÷ 31.1035) × (karat ÷ 24) × spot_price
Gold Karat Reference Guide
Understanding karat is the key to understanding gold value. Here is what each purity level means.
| Karat | Fineness | Purity | Color | Common Uses |
|---|---|---|---|---|
| 24K | 999 | 99.9% | Deep yellow | Bullion, investment coins, Indian jewelry |
| 22K | 916 | 91.7% | Rich yellow | Jewelry (South Asia, Middle East), coins |
| 18K | 750 | 75.0% | Yellow / white / rose | Fine jewelry (Europe, US), watches |
| 14K | 585 | 58.3% | Warm yellow | Most popular in USA, everyday jewelry |
| 10K | 417 | 41.7% | Pale yellow | Budget jewelry, minimum US legal karat |
| 9K | 375 | 37.5% | Light yellow | UK, Australia budget jewelry |
How to Use the Gold Calculator
Get the Current Spot Price
Open kitco.com or goldprice.org and check the current gold price per troy ounce in USD. Enter that number in the spot price field at the top. The default is a recent estimate - always update it before relying on results for financial decisions. Spot prices can move hundreds of dollars in a single day during volatile markets.
Weigh Your Gold
Use a digital scale that measures in grams for the most accurate results. If your scale uses pennyweights or troy ounces, the calculator handles those too - just select the right unit. Weigh each piece separately if you have gold of different karats - you cannot mix karats in a single calculation.
Select the Karat
Check your gold for a hallmark stamp (usually inside a ring band or on a hidden part of the piece). US jewelry is typically stamped 10K, 14K, or 18K. European pieces use fineness numbers: 585 = 14K, 750 = 18K, 916 = 22K. If you are not sure, a jeweler can test it for you.
Read the Results
The calculator shows your gold's full market value (100% of spot) and the estimated range you would receive from different types of buyers. Export the report to keep a record or share it when comparing buyer quotes.
Why Use This Gold Calculator
Accurate Math
Uses the standard gold valuation formula with exact constants: 31.1035 grams per troy ounce and true karat purity fractions. No rounding shortcuts.
All Weight Units
Supports grams, troy ounces, pennyweights (dwt), tola, baht, and avoirdupois ounces so you can enter exactly what your scale shows.
Buyer Comparison
See the realistic payout range from refiners, jewelry stores, pawn shops, and cash-for-gold services - not just the theoretical spot value.
Any Karat
Supports all 10 karat levels from 8K (minimum EU standard) through 24K pure gold, including 9K (UK standard) and 22K (South Asia and Middle East).
Price per Gram Table
See the price per gram at every karat level at your entered spot price so you can quickly compare different pieces you are considering selling.
Spot Price Reminder
Built-in disclaimer and guidance to always use a current spot price from kitco.com or goldprice.org - because using a stale price gives a stale result.
Understanding Gold Value: A Practical Guide
The Gold Valuation Formula Explained
Every legitimate gold calculation uses the same basic formula: take the total weight of your item, apply the karat fraction to find the pure gold content, convert to troy ounces, and multiply by the spot price. The only variables are your item's weight, its purity, and the day's spot price - everything else is fixed math.
The troy ounce is the unit that trips people up most often. When the news says gold is at $3,000 per ounce, it means per troy ounce - not the regular kitchen scale ounce. A troy ounce is about 10% heavier than a regular ounce (31.1035g vs 28.3495g). Using the wrong ounce type leads to calculations that are off by nearly 10%, which becomes a meaningful dollar error on anything more than a few grams.
What Drives the Gold Spot Price
Gold's spot price moves for a long list of reasons. Inflation expectations are one of the biggest drivers - when inflation is high or rising, investors buy gold as a store of value, pushing prices up. The strength of the US dollar matters too: since gold is priced in dollars globally, a weaker dollar generally means a higher gold price in dollar terms. Interest rates have an inverse relationship with gold - when rates are high, interest-bearing assets compete with gold, reducing its appeal, and prices tend to soften.
Geopolitical instability tends to drive gold up as investors seek safe-haven assets. Central bank buying and selling, mine production output, and jewelry demand (particularly from India and China, which together account for the majority of global gold demand) also influence price. The result is a price that can swing $50 to $200 per troy ounce in a single week during volatile periods.
Selling Scrap Gold: What to Actually Expect
The spread between spot value and what a buyer pays you is the single most important thing to understand before selling gold. No buyer pays spot. Every buyer needs to cover their costs - refining fees, testing, labor, shipping if applicable - and make a profit. The question is how much below spot they pay.
Online gold refiners generally pay the most because their scale and direct access to commodity markets reduces overhead. Reputable ones like APMEX, JM Bullion, and Kitco Gold consistently pay 95% of spot or better. Local jewelry stores vary widely - some will pay 80-85% for 18K or 14K pieces in good condition, others offer 60-70%. Pawn shops are convenient but consistently low, often 50-60%. Understanding this range helps you set realistic expectations and recognize when an offer is genuinely fair.
Gold Filled, Gold Plated, and Vermeil: Worth Anything?
Gold plated jewelry has a thin electroplated layer of gold over a base metal (usually brass or copper). The gold layer is typically just 0.5 to 2.5 microns thick - negligible actual gold content. Gold plated items have effectively zero scrap value and should not be included in any gold calculation.
Gold filled (also called gold overlay or rolled gold) is different. US standards require gold filled items to contain at least 5% gold by weight, bonded to the base metal under heat and pressure. There is enough gold to have real scrap value, but recovering it requires chemical refining. Most buyers significantly discount gold filled items - expect 40-60% of the calculated gold content value. Gold vermeil is sterling silver with thick gold plating (at least 2.5 microns) - the silver has value but the gold plating does not meaningfully add scrap value.
When Not to Sell Gold as Scrap
Melt value is a floor, not a ceiling. Antique, signed, designer, or collectible gold pieces can be worth multiples of their scrap value to the right buyer. A 14K gold bracelet from a recognized designer in good condition might retail for twice its melt value. A Victorian-era piece with enamel work or gemstones could be worth far more to a vintage dealer than its gold content alone.
Before selling anything with aesthetic, historical, or maker's mark value as scrap, get it appraised by an estate jeweler or auction house appraiser. The appraisal is free at most auction houses and could reveal that a piece is worth considerably more intact than melted. The scrap price this calculator gives you is the minimum value of your gold - use it as a benchmark, not as an automatic selling price.
Gold Calculator FAQ
Common questions about gold valuation, karats, and selling scrap gold.
This calculator provides estimates for informational purposes only. Gold spot prices fluctuate continuously during market hours. Always verify current prices at kitco.com or goldprice.org and obtain multiple written quotes from licensed dealers before making any financial transactions involving gold.