How it works
Gold is priced per troy ounce, which is 31.1 grams, heavier than the 28.3-gram ounce on a kitchen scale. To value a piece, convert its weight to grams, multiply by the share that is actually gold (its karat), and multiply by the spot price per gram.
Karat is gold content out of 24 parts: 14k is 14/24, or 58.3% gold; 10k is 41.7%. Jewelry is usually stamped inside the band or on the clasp (14K, 585, 10K, 417). Weigh only the metal; stones add weight but no gold value.
This calculator does not fetch a live price. Gold moves every minute markets are open, so enter the current spot price yourself. The default of $4,000 is an example to show how the math works, not a quote.
Formula
Melt value = weight in grams × (karat ÷ 24) × (spot price per troy ounce ÷ 31.1035)
Questions people ask
How much is 14k gold worth per gram?
14k gold is 58.3% gold, so a gram is worth 0.583 × the spot price per gram. At a $4,000 spot price, that is about $75 per gram melt value. Enter the current spot price above for today's figure.
What is a pennyweight?
A pennyweight (dwt) is 1/20 of a troy ounce, about 1.555 grams. Jewelers and gold buyers often quote prices per pennyweight.
Why will a buyer pay less than melt value?
Refining, assaying and resale all cost money, so pawn shops, jewelers and refiners pay a percentage of melt value. Offers commonly range from about 70% to 95% depending on the buyer and the amount.
Is 24k gold 100% pure?
Not quite. 24k is usually 99.9% (stamped 999) or 99.99% (9999) fine. This calculator uses 99.9% for 24k.