The Silver Buy Price calculator computes the Jeweler's Buy Price for silver based on the current value of silver, the percent purity, a scrap processing fee, and the jeweler's profit margin.
INSTRUCTIONS: Choose units and enter the following:
Jewelers Precious Metals Buy Price (BP): The buy price is returned in U.S. dollars. However, this can be automatically converted to compatible units via the pull-down menu.
The Jewelers Silver Buy Price calculator computes the Jeweler's Buy Price for silver items based on the current value of silver (Silver Spot:$31.1/t_oz), the metal's purity, a scrap processing fee, and the jeweler's profit margin.
The result is the price that can be given to the seller of the metal while paying the refiner and making the profit (fee) identified.
The weight can be in troy ounces, pennyweight or grams. vCalc converts the weight into Troy Ounces and then fetches the current spot price for an ounce of silver. It then multiplies the weight of the pure silver content against the spot price and scrap discount percentage to give the silver's value.
Note: scrap is a percentage. It can vary based on the purity and the metal. Gold is often refined for as little as 2%. However, lately silver may command a 30% scrap refining fee.
SPOT comes from /www.xmlcharts.com/cache/precious-metals.xml
The Precious Metals Calculator has functions to compute the price a Jeweler can reasonably pay for items for their value in Gold, Platinum, Palladium and Silver.
Bullion SPOT PRICES | |||
Metal | ($/gram) | ($/troy_oz) | |
Gold | $84.772 | $2636.7 | |
Platinum | $29.9 | $929.99 | |
Palladium | $30.479 | $948.0 | |
Silver | $1 | $31.1 | |
Updated every Two Minutes |