Frequently Asked Questions
What is melt value?
Melt value is the intrinsic worth of the precious metal content in an item. It is calculated by multiplying the pure metal weight by the current spot price. For example, a 14K gold ring weighing 5 grams contains 2.925 grams of pure gold (58.5% of 5g). The melt value is that pure gold content multiplied by the gold spot price per gram.
How do I weigh gold at home?
Use a digital scale that measures to at least 0.1 gram precision. Kitchen scales are often not accurate enough for small jewelry. Pennyweight (dwt) scales are popular with jewelers — 1 dwt equals 1.555 grams. If you only have a gram scale, you can convert: 1 gram = 0.643 dwt, and 1 troy ounce = 31.1035 grams = 20 dwt.
What is the difference between a troy ounce and a regular ounce?
A troy ounce (ozt) is the standard unit for precious metals and equals 31.1035 grams. A regular (avoirdupois) ounce equals 28.35 grams. That means a troy ounce is about 9.7% heavier than a regular ounce. All precious metal spot prices are quoted per troy ounce, so always use troy ounces when calculating melt value.
Why do gold buyers pay below spot price?
Dealers pay below spot because they need to cover refining costs, testing, overhead, and profit margin. A typical gold buyer pays 70–95% of melt value. The percentage depends on the quantity (larger quantities get higher payouts), the buyer business model (mail-in services pay less than local refiners), and current market conditions. Knowing your melt value before you sell helps you negotiate a better deal.
How often do spot prices update?
Our spot prices are fetched from live market data and cached for 10 minutes. This means the prices shown on the page are at most 10 minutes old. After the page loads, the calculator can fetch fresh prices client-side every 60 seconds for real-time updates while you calculate.
What is ASW and AGW?
ASW (Actual Silver Weight) and AGW (Actual Gold Weight) are the pure precious metal content of a coin, expressed in troy ounces. For example, a Morgan Dollar weighs 26.73 grams in total but contains 0.7734 troy ounces of pure silver (ASW). The melt value is calculated by multiplying ASW or AGW by the current spot price.
Can I use this calculator for dental gold?
Yes. Dental gold is typically 16K to 18K purity (60–75% gold), though it varies. You will need to know the approximate karat and weight. Some dental gold contains platinum-group metals, which can add value. We recommend having dental gold tested by a refiner for an accurate purity assessment.
What units does the calculator support?
The calculator supports four units: grams (g), pennyweight (dwt), troy ounces (ozt), and grains. You can switch between units at any time and the calculator will convert automatically. The last-used unit is remembered during your session.