How it works
First the weight is converted to grams (1 troy ounce = 31.1035 g; 1 avoirdupois ounce = 28.3495 g). Pure gold content is weight × (karats ÷ 24) — 24 karat is pure, 18 karat is 75% gold. Pure troy ounces are pure grams ÷ 31.1035, and melt value is pure troy ounces × the price per troy ounce you enter. Melt value is not a resale price: a dealer or jeweller will usually pay less than melt value, and may charge for testing or refining.
Frequently asked questions
Is the gold price live?
No. You enter the price per troy ounce. Gold prices move during the day, so check the price when you need it and type it in.
Why troy ounces, not regular ounces?
Precious metals are priced per troy ounce (31.1035 g), which is heavier than a regular avoirdupois ounce (28.3495 g). Mixing them up understates the value.