Precious Metals

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Calculator / Last modified by pro on 2016/05/26 14:28
Gold Scrap Buy Price
Other Metals Scrap Buy Price
Junk Silver Value
SPOT Prices
All Metals Bullion Value

The Precious Metals Calculator tells you the value of your gold, platinum, palladium and silver.  It uses the current SPOT prices and has equations, constants and on-line data useful for Jewelers and other merchants of precious metals.

Current SPOT USD  ($/gram) ($/troy_oz) 
Gold$45.40649$1412.3
Platinum$27.03878$841.0
Palladium$49.5443$1541.0
Silver $0.49271$15.32

The precious metals include: gold, platinum, palladium and silver, and the SPOT price is in U.S. dollars per troy ounce.  The values are updated every two minutes.  The functions in this calculator include:

  1. Gold Scrap Buy Price:  This computes the current value of gold scrap based on the current gold SPOT, weight, purity in karats, refinement cost and retailer fee.  It is a good estimator of the consumer's value in scrap gold.
  2. Other Metal Scrap Buy Price: This computes the current value of gold, platinum, palladium or silver scrap based on the weight, purity as a percentage, refinement cost and retailer fee.  It is a good estimator of the consumer's value in scrap precious metals.
  3. Junk Silver: This calculates the current value for Junk Silver based on the dollar Face Value and the current Silver Spot Price.
  4. SPOT Prices:  This provides the current SPOT price of gold, platinum, palladium and silver. 
  5. All Metals Bullion Value: This computes the current combined value of gold, silver, platinum and palladium bullion.  This calculator is useful to ascertain the value of all of one's bullion (refined gold, platinum, palladium and silver) at the current time.

Description

The Precious Metal Calculator is useful for those who buy scrap metal or those who wish to have an estimate of the value of their scrap metal.

Gold Scrap Buy Price

The Gold Buy Price equation compute the value of your scrap gold, but using the current gold spot price and the formula to compute how much pure gold is in your scrap.  To do this, do the following:

  1. Click on the Gold Scrap Price button, and the drop-down calculator menu will appear, then
  2. enter the weight of your scrap gold on one of many units.  Grams and Troy Ounces are the common jeweler's units.
  3. then designate the purity (e.g. 18 karat), jewelers have chemical means to test this.  However, the consumer may have to rely on a stamp in the metal (e.g. 18 karat wedding ring), then  
  4. enter a refiners fee (e.g. 5%).  This can have a broad range.  If it's a simple gold article such as a wedding band, 5% to 10% is appropriate.  If there are a lot of other components such as gems or other metals interlaced in a complex item, this number can go as high as 20%, and finally
  5. enter the vendor profit (fee).  It is not reasonable to assume zero profit.

This formula then returns the buy price of the gold accounting for the above factors and the current gold spot price.  The buy price is the reasonable retail value of your item base purely on its refined gold content.

Other Metals Scrap Buy Price

The Other Metals Scrap Buy Price equation is much like that for gold (above), except you can choose platinum, gold, silver or palladium,  and the purity factor is entered in a percentage (e.g. 75%) instead of karat (e.g.18k).

Junk Silver Value

The Junk Silver Value function computes the value of U.S. silver coins with no numismatic value.  It let's the user enter the face value of the coins and returns their current value based on the spot price of silver.

SPOT Prices

This is a simple equation where you choose a precious metal from the list, enter the weight of the refined metal you have and it provides a current value based on the current SPOT price.  The default amount is one Troy ounces so the spot price of the metals is provided by default.

 

Notes

This calculator was compiled with functions geared to meet the daily needs of a professional jeweler or pawn broker.  Requests for new equations and/or corrections to existing equations will be rapidly implemented.  Use the REPORT A PROBLEM button.