How much is my gold worth?
The cleanest way to answer this question is to start with the live reference price per gram, identify the weight and purity of what you own, and do a straightforward multiplication. That gives you a market-based estimate before you compare any dealer premium, buyback spread, or retail payout. The calculation takes about 30 seconds once you know the three inputs.
Three inputs: weight, purity, and the live price per gram
The formula is: estimated value = weight in grams × purity fraction × live spot price per gram.
For example, if you own 50 grams of 22k gold and the live price is USD 95 per gram, the calculation is: 50 × 0.916 × 95 = USD 4,351. That is the benchmark metal value. The actual payout from a dealer will likely be lower — typically 80–92% of melt value depending on the type of buyer and the market.
Step 1 — Find the weight
Weigh your gold in grams using a precise scale. For coins and bars, the weight is usually printed on the product. A standard 1 troy ounce coin or bar weighs 31.1035 grams.
Step 2 — Identify the purity
Look for a hallmark stamp: 999 or 9999 means 24k (nearly pure). 916 means 22k (91.6% pure). 750 means 18k (75% pure). 585 means 14k (58.5% pure). If there is no stamp, have the piece tested at an assay office or reputable dealer.
Step 3 — Check the live price
Use the gold price pages on this site for your local currency. The price shown is per gram of 24k gold. Multiply by the purity fraction for your karat level.
Common karat levels and their gold content per gram
- 24k (999): 0.999 g of pure gold per gram — the benchmark standard
- 22k (916): 0.916 g of pure gold per gram — common for Indian and Gulf jewellery
- 18k (750): 0.750 g of pure gold per gram — common in European jewellery
- 14k (585): 0.585 g of pure gold per gram — common in US jewellery
- 10k (417): 0.417 g of pure gold per gram — minimum legal gold content in the US
The difference between melt value and what you will actually receive
The benchmark calculation gives you the theoretical melt value — what the pure gold content is worth at the market reference price. This is the most important number to know, because it tells you whether any offer you receive is reasonable or significantly below market.
In practice, the actual payout from selling gold is usually lower than the melt value. A dealer buying scrap jewellery typically pays 80–90% of melt value. A dealer buying bullion coins or bars usually pays 95–99% of spot. The difference comes from the buyer's operational cost, refining assumptions, and their own margin on the transaction.
That does not make the benchmark useless — it makes it essential. Without that first number, you cannot tell whether the offer you are seeing is competitive or simply well below what the metal is worth.
Why jewellery is harder to value than bullion
Bullion bars and coins have a straightforward melt value because the weight and purity are stamped and certified. Jewellery is more complicated for three reasons. First, the purity is not always easy to verify without testing. Second, some pieces contain non-gold components — stones, clasps, solder — that add weight but not gold value. Third, jewellery that has collector or antique value may be worth more than its melt value to certain buyers, and should not be sold for scrap without checking.
For standard jewellery with a clear hallmark, the calculation works the same way: check the karat stamp, weigh the piece without stones if possible, and calculate the metal value. The scrap gold calculator on this site handles the purity adjustment automatically.