The Precious Metal Alloy Value calculator computes the raw bullion value for gold, platinum, palladium or silver alloy based on the metal, weight, purity and current spot price.
INSTRUCTIONS: Choose units (e.g. pennyweight or gram) and enter the following:
- (W) Weight of Precious Metal Alloy
- (M) Type of Precious Metal (CHOOSE: gold, platinum, palladium or silver)
- (P) Percentage of Metal's Purity (e.g 98,5%). This is a percentage not a karat.
Precious Metal Alloy Value (V): The raw bullion value is returned in United States dollars (USD). However, this can be automatically converted to other currencies via the pull-down menu.
The Math / Science
The value of precious metal alloy to a jeweler is the refined value of the metal in the alloy minus the refining fee and the jeweler's fee. The formula for the Precious Metal Alloy Value is as follows:
V = SPOT(M) • W • P
where:
- V is the value of the precious metal alloy
- W is the measured weight or mass of the precious metal
- M is the precious metal (gold, platinum, palladium or silver)
- SPOT(M) is the current spot price of the precious metal
- P is the percent purity of the precious metal
SPOT comes from /www.xmlcharts.com/cache/precious-metals.xml
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