Gold Calculator — Free Online Value Estimator

How to Use the Gold Calculator

Our gold calculator helps you determine the value of gold jewelry, coins, bars, or any gold item based on its weight, purity, and the current market price. Whether you are buying, selling, or simply curious about the value of your gold holdings, follow these steps for an accurate estimate.

1. Enter the gold weight. Weigh your gold using a precise scale. For jewelry, a digital kitchen scale accurate to 0.1 grams works well. For investment gold, the weight is typically stamped on bars and coins. If weighing multiple items of the same karat, you can enter the total weight.
2. Select the weight unit. Choose the unit that matches your scale or the unit stamped on your gold product. Grams are the most universal. Troy ounces are standard for investment gold bars and coins. Kilograms are used for large bars (400 oz London Good Delivery bars are approximately 12.4 kg). Tola is common in South Asian markets, and pennyweight (dwt) is used by North American jewelers.
3. Choose the gold karat. Select the purity of your gold. For jewelry, look for a karat stamp (10K, 14K, 18K, 22K, or 24K) usually found on the clasp, inside of a ring band, or on a small tag. Investment gold coins and bars are typically 22K (American Gold Eagle) or 24K (Canadian Gold Maple Leaf, Australian Kangaroo). If you are unsure, a jeweler can test the purity.
4. Enter the current gold price. Input the current spot price of gold per troy ounce in US dollars. The default is $2,050, but gold prices change constantly during market hours. Check live prices at financial news sites or gold-specific resources for the most current price. The calculator does not use live feeds to ensure it works offline and remains fully transparent.
5. Review your results. The calculator shows the estimated value in USD, the pure gold weight (total weight adjusted for karat purity), the price per gram at the current spot price, and a karat reference guide. Remember that retail jewelry carries premiums above the gold content value, while scrap gold buyers typically pay 60-80% of the melt value.

For the most accurate valuation of significant gold holdings, consider getting a professional appraisal, especially for antique or designer jewelry where craftsmanship adds value beyond the gold content.

Understanding the Gold Value Formula

The gold value formula converts your gold's weight and purity into a dollar amount based on the current market price. Understanding this calculation helps you verify quotes from gold buyers and make informed decisions.

Gold Value Formula

Where each variable represents:

• Weight (grams) = Total weight of the gold item converted to grams
• Karat / 24 = Purity factor (24K = 1.0, 18K = 0.75, 14K = 0.583, 10K = 0.417)
• Price per Troy Oz = Current spot price of pure gold per troy ounce
• 31.1035 = Number of grams in one troy ounce

The formula first converts the total weight to pure gold weight by multiplying by the purity factor, then multiplies by the price per gram (which is the spot price divided by 31.1035 grams per troy ounce).

Weight Unit Conversions

Step-by-Step Calculation Example

Calculate the value of a 25-gram 18K gold bracelet when gold is $2,050 per troy ounce:

1. Convert weight to grams: Already in grams = 25g
2. Calculate purity factor: 18K / 24 = 0.75
3. Calculate pure gold weight: 25g × 0.75 = 18.75g of pure gold
4. Calculate price per gram: $2,050 / 31.1035 = $65.90 per gram
5. Calculate value: 18.75g × $65.90 = $1,235.63

This bracelet contains $1,235.63 worth of gold at current market prices. A gold buyer would typically offer 60-80% of this melt value ($741-$989), while the retail replacement cost could be 2-3 times the gold value ($2,471-$3,707) depending on the design and brand.

Practical Gold Valuation Examples

These real-world scenarios illustrate how to use gold calculations for different purposes, from selling old jewelry to evaluating investment gold.

Selling Inherited Jewelry Collection

Rebecca inherited a collection of gold jewelry from her grandmother and wants to know its melt value before visiting buyers. She weighs each piece and groups them by karat. The 14K items (two rings and a pendant) weigh 22 grams total: 22g × 14/24 × $65.90/g = $847.14 melt value. The 18K items (a bracelet and earrings) weigh 35 grams: 35g × 18/24 × $65.90/g = $1,729.88. The 10K items (a chain necklace) weighs 18 grams: 18g × 10/24 × $65.90/g = $494.25. Her total melt value is $3,071.27. She visits three gold buyers and receives offers of $1,843 (60%), $2,150 (70%), and $2,457 (80%). The spread confirms why getting multiple quotes is essential.

Comparing Investment Gold Products

Michael wants to invest $10,000 in physical gold and is comparing options. A 1-ounce American Gold Eagle (22K, 33.93g total, 31.1g pure gold) is priced at $2,130 (a 3.9% premium over the $2,050 spot price). A 1-ounce Canadian Maple Leaf (24K, 31.1g pure gold) is priced at $2,100 (a 2.4% premium). Five 10-gram bars (24K, 50g total pure gold) cost $2,105 each, totaling $10,525 for a 2.7% premium. Per gram of pure gold, Michael calculates: Eagle = $68.49/g, Maple Leaf = $67.52/g, 10g bars = $66.84/g per bar. The 10-gram bars offer the lowest premium per gram of gold, but the recognized coins are more liquid and easier to sell. Michael buys three Maple Leaf coins ($6,300) and two 10-gram bars ($4,210) for diversification.

Indian Wedding Gold Purchase

The Sharma family is purchasing gold jewelry for their daughter's wedding, a tradition in many South Asian cultures. They plan to buy a 22K gold necklace set (45 grams), 22K bangles (60 grams for a set of 4), and 22K earrings (12 grams). Total weight: 117 grams of 22K gold. Pure gold content: 117 × 22/24 = 107.25 grams. At $2,050/oz ($65.90/g), the gold value alone is $7,068. In India, they would see this priced per 10 grams of 22K gold, which is 10 × 22/24 × $65.90 = $604.08 per 10 grams. The jeweler charges a making charge of 8-15% above the gold value, so the total cost ranges from $7,633 to $8,128. They compare this with gold prices in tola: 117g = 10.03 tola, at $2,050/oz, each tola of 22K gold is worth approximately $705.

Dental Gold Valuation

Thomas had old dental crowns and bridges removed during dental work and wants to know their value. Dental gold is typically 16K to 22K (approximately 62-92% gold), with the remaining alloy consisting of palladium, silver, and copper for durability. His dental office gave him 8 grams of material. Without exact karat knowledge, he estimates 16K (the lower end of dental gold). At 16K: 8g × 16/24 × $65.90/g = $351.47. At a more optimistic 20K: 8g × 20/24 × $65.90/g = $439.33. A dental gold refiner would test the exact purity and typically pay 85-95% of the refined gold value, so Thomas can expect approximately $298-$417. Specialty dental gold refiners generally offer better rates than pawn shops or generic gold buyers.

Gold Buying and Selling Tips

Whether you are buying gold as an investment, purchasing jewelry, or selling gold items, these tips help you make informed decisions and avoid common pitfalls.

Know the Spot Price Before Any Transaction

Before buying or selling gold, always check the current spot price. Gold prices change throughout the day during market hours (Sunday 6:00 PM ET to Friday 5:00 PM ET in the US). The spot price is the base from which all premiums and discounts are calculated. When buying, expect to pay a premium above spot (2-5% for bullion, 8-30% for jewelry). When selling, expect to receive a discount below spot (0-5% for bullion at a dealer, 20-40% below spot at a pawn shop). Knowing the spot price is your strongest negotiating tool because it establishes the fair market value of the gold content.

Get Multiple Quotes When Selling

The price offered for your gold varies dramatically between buyers. Pawn shops typically offer the lowest prices (50-70% of melt value). Mail-in gold buyers advertise heavily but often pay only 60-75%. Local jewelers and coin dealers typically offer 70-85%. Online gold dealers and refiners often provide the best prices at 85-95% of melt value. Always weigh your gold yourself before selling, and calculate the melt value using our calculator so you know the maximum theoretical value. Never accept the first offer, and be wary of any buyer who will not show you their scale or explain their pricing formula.

Verify Gold Authenticity

Counterfeit gold items are increasingly sophisticated. When buying, look for hallmark stamps (karat markings like 750 for 18K, 585 for 14K, 375 for 9K in the metric system). Legitimate dealers provide certificates of authenticity for investment-grade products. Simple home tests include the magnet test (gold is not magnetic, so a strong magnet should not attract it), the ceramic test (gold leaves a gold streak on unglazed ceramic, while fake gold leaves a dark streak), and the density test (gold is extremely dense at 19.3 g/cm3). For significant purchases, professional assay testing provides definitive results.

Understand Premiums and Making Charges

The premium you pay above gold content value varies by product type. Gold bars from reputable mints carry the lowest premiums (1-3% for large bars, 3-5% for small bars). Government-minted coins like the American Eagle, Canadian Maple Leaf, and Australian Kangaroo carry premiums of 3-8%. Collectible and rare coins can carry premiums of 10-100%+ above gold value. Gold jewelry has the highest premiums because you pay for craftsmanship, design, brand name, and retail markup on top of the gold value. In South Asian markets, the "making charge" (craftsmanship fee) is typically quoted as a percentage (8-25%) above the gold weight price.

Common Mistakes to Avoid

• Confusing troy ounces with regular ounces. Gold is always measured in troy ounces (31.1g), not avoirdupois ounces (28.35g). Using the wrong ounce type results in a 10% error in your calculations. If someone quotes a price "per ounce" for gold, it always means troy ounces.
• Assuming jewelry value equals gold value. Gold jewelry has significant additional value from craftsmanship, design, and brand. But when selling, most buyers pay only for the gold content. The $5,000 necklace you bought at retail may contain only $1,800 worth of gold. Buy jewelry because you enjoy wearing it, not as a gold investment.
• Not accounting for karat purity. A 50-gram piece of 14K jewelry contains only 29.17 grams of pure gold (58.3%). Forgetting to account for purity overstates the gold value by 71%. Always multiply the total weight by the karat fraction (karat / 24) to get the pure gold content.
• Selling gold at the worst times. Gold prices follow cycles influenced by economic conditions, interest rates, and geopolitical events. Selling during a price dip (like a strong dollar period or rising interest rate environment) means getting less for your gold. If you are not in urgent need of cash, monitor prices and sell during upswings.
• Falling for "cash for gold" schemes. Companies that advertise aggressively on television or online often pay the lowest prices. Their overhead (advertising, storefronts, commissions) comes out of what they pay you. Online gold refiners that deal directly typically offer significantly better prices because of lower overhead.