Elemetal Gold Karat Calculator

About the Gold Karat Calculator*

Elemetal strives to inform and support its dealer network, including jewelers, pawnbrokers and tradesmen, in maximizing their refining-settlement recoveries. Elemetal's Gold Karat Calculator is a unique tool to assist these dealers in estimating the potential value and precious-metal content of scrap gold and other precious metals. It provides approximate values of what one might expect to receive on refining settlements, considering typical assay values and metal recoverability. This helps users quickly assess the potential profitability and margins of metal purchases (see target profitability slider) for retail sales. Such instant value estimates can help users make informed decisions about buying, selling, and refining scrap metals.

The Calculator can also help you estimate the amount of bullion products—including fine gold grain, privately minted rounds, and sovereign gold and silver products—that you can acquire via scrap-metal exchanges or direct purchases.

For an overview of Elemetal’s broad precious metal capabilities and vast selection of bullion products available for sale or trade, we encourage you to Get Started with Elemetal and see how one of our industry-leading 45+ nationwide locations can help you today.

* The calculator is provided for informational purposes only. It does not constitute offers to buy or sell material.

How to Use the Gold Karat Calculator

The Calculator can also help you estimate the amount of bullion products—including fine gold grain, privately minted rounds, and sovereign gold and silver products—that you can acquire via scrap-metal exchanges or direct purchases.

To use the scrap gold calculator, follow these simple steps:

Step 1) Input Gold Price: At the top of the calculator, you’ll see a field labeled “Gold Price Today.” Enter the current market price for gold in that field if it hasn't been pre-filled.

Step 2) Select Measurement Unit: Choose your preferred unit of measurement (grams, dwt, or troy oz) from the dropdown next to "Measurement."

Step 3) Input the Quantity: In the left-hand column, input the amount of gold you have for each karat type (e.g., 8k, 14k, 24k) in the fields corresponding to the karat level.

Step 4) View Your Gold Prices: The calculator will automatically display details under the “Dealer's Buying Guide” on the right side of the screen. This includes:

  • Total Weight: The combined weight of all the gold entered.

  • Estimated Fine Gold Content: The pure gold content is based on the karat entered.

  • Estimated Payable Gold Content: The gold content after deductions for refining charges.

  • Estimated Payable $ per Unit: The value per unit, based on the inputs above.

Step 5) Set Target Profitability: Use the slider labeled “Target Profitability” to select your desired profitability on a retail purchase. The calculator will adjust the suggested target purchase price accordingly. Results include:

  • The total settlement value will appear at the bottom under “Total Estimated Settlement.”

  • You'll also see a breakdown of the price per dwt, gram, and troy ounce on the right.

  • The “Target Purchase Price” will display the amount you'd likely pay for the gold based on the desired profit margin.

  • The calculator will also show an “Estimated Profit” based on your inputs and selected profitability target.

Frequently Asked Questions

  • To calculate the value of your gold, you need to know its weight and karat (purity). Input the weight into the karat calculator based on its karat (purity) and select the appropriate measurement unit (grams, dwt, or troy oz). Use the current market price of gold to get an accurate estimate. The calculator will use these factors to provide an estimated value of your gold.

  • Plumb 10k gold is 41.67% pure and one of the most common karats of gold jewelry. Its value will primarily be tied to the current spot price, and the weight of your materials with that purity in mind. To determine the worth of your 10k gold, use the karat calculator by inputting its weight and selecting 10k as the purity. The calculator will give you a estimate of the payable content based on the spot price and weight you enter.

  • Plumb 14k gold is 58.33% pure and one of the most common karats of gold jewelry. Its value will primarily be tied to the current spot price, and the weight of your materials with that purity in mind. To determine the worth of your 14k gold, use the karat calculator by inputting its weight and selecting 14k as the purity. The calculator will give you a estimate of the payable content based on the spot price and weight you enter.

  • Plumb 18k gold is 75.00% pure and is a fairly common choice for high-karat gold jewelry, often adorned with gemstones. Its value will primarily be tied to the current spot price, and the weight of your materials with that purity in mind. To determine the worth of your 18k gold, use the karat calculator by inputting its weight and selecting 18k as the purity. The calculator will give you a estimate of the payable content based on the spot price and weight you enter.

  • The karat of gold refers to its purity, with 24 karat being pure gold. To calculate the karat, you compare the ratio of pure gold to other metals in the alloy. For example, 18k gold contains 18 parts gold and 6 parts other metals, making it 75% pure. If you already know the karat and weight, use the karat calculator to determine its value.

  • You can usually check the karat of gold using a few simple methods. Look for the hallmark stamp on the item, which indicates its karat (e.g., “14k” or “18k”). You can also use a gold testing kit, which involves applying acids that react differently based on the purity of the gold. For the most accurate assessment, though, visiting a reputable refiner to melt the metal and determine its content and purity is always recommended.

Looking for a gold refinery near you?

Elemetal is America's largest gold refiner with over 45 locations across the United States. We specialize in gold jewelry, gold scrap, gold placer, and more.