14K Gold Ring — 5.2 grams
- 1 Weight: 5.2 grams
- 2 Convert to troy ounces: 5.2 ÷ 31.1034768 = 0.1672 ozt
- 3 Purity fraction: 14 ÷ 24 = 0.5833 (58.3% gold)
- 4 Melt value: 5.2 ÷ 31.1034768 × (14 ÷ 24) × $3,235 = $315.49
Estimated Melt Value $315.49
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Scrap Gold Calculator
Calculate the melt value of your scrap gold jewelry, coins, and bullion using the live gold spot price. Supports all karats from 8K to 24K with real-time market data.
Calculate Your Gold's Value
Estimated Scrap Gold Value
$0.00
Please enter a valid weight.
Live Scrap Gold Prices
Live scrap gold price per gram, per pennyweight (DWT), and per troy ounce — updated from the gold spot market
24KFine gold melt basis
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22K916 hallmark
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18K750 jewelry scrap
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14K585 jewelry scrap
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10K417 jewelry scrap
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Gold is traded across global bullion and futures markets. The rates below are derived from the single normalized USD-per-troy-ounce price feeding this calculator. Select a karat to view its calculated melt value per gram, per pennyweight (DWT), and per troy ounce.
Per Gram
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1 gram = 0.03215 troy oz
Per Pennyweight (DWT)
—
1 DWT = 1.5552 grams
Per Troy Ounce
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1 troy oz = 31.1035 g
Scrap Gold Payout Estimator
Model what a buyer may pay after the payout percentage and itemized deductions
The melt value shown by a scrap gold calculator is the theoretical maximum. In practice, buyers apply a buyback spread and refining deductions before issuing payment. Use the slider below to model your expected payout ratio and see your net cash in real time.
Refineries & Smelters Terms vary by lot and process Compare the final net payout after fees
Jewelers & Dealers May pay for melt, resale, or both Ask what assumptions and deductions are included
Pawn Shops & Kiosks Offers can vary widely Convenience may come with a wider buyback spread
Illustrative model: Buyer offers vary by buyer, lot size, assay/testing method, fees, market conditions, and item type. Use the buyer's quoted percentage and fees when available.
Melt Value vs. Scrap Gold Payout
Understanding the gap between theoretical melt value and what gold buyers actually pay
Spot Price
→ Fine Gold Content
→ Melt Value
→ Buyer Payout %
→ 📉 Fees / Deductions
→ Net Cash Offer
The melt value displayed by a scrap gold calculator represents the full intrinsic worth of the fine gold contained in your item — calculated from weight, karat purity, and the current gold spot price per troy ounce. A scrap buyer's actual payout reflects the net offer after accounting for the buyer's margin, refining costs, assay testing, and other disclosed deductions. In contrast, rare coins, antiques, and luxury branded pieces may have resale value above melt.
Refining Fee
A refinery may deduct a processing charge to smelt, separate, and purify a scrap lot. Ask for the exact rate in writing because fees vary.
Assay & Testing
Testing may use acid tests, XRF analyzers, or fire assay. Fees and charging methods vary, so ask the buyer for the exact testing charge.
Buyer Spread
The dealer's profit margin — the percentage difference between the spot-price-based melt value and the net cash they pay you.
Use the live payout estimator above to model your expected net payout after buyer deductions. Always request written breakdowns from buyers showing the spot price reference, payout percentage, and itemized fees before accepting an offer for your scrap gold jewelry, coins, or bullion.
Overview
What Is a Scrap Gold Calculator?
A scrap gold calculator estimates the melt value of the fine gold contained in an item. It converts the item weight to troy ounces, adjusts that weight for karat purity, and applies the current gold spot price. The result is a metal-value estimate, not a guaranteed buyer offer or an appraisal of craftsmanship, gemstones, rarity, or collectible value.
Estimate the contained gold value of jewelry, coins, bullion, and other items based on weight, karat purity, and the current spot price.
Formula
How Scrap Gold Value Is Calculated
Use the standard melt formula for solid gold, the payout formula for an estimated net offer, and the gold-filled formula only when the item has a marked layer ratio:
M=W×C×(K÷24)×P;N=M×B−F;GF=W×C×R×(K÷24)×P
M is theoretical melt value, W is item weight, C is unit conversion to troy ounces, K is karat purity, and P is the gold spot price per troy ounce. N is estimated net buyer payout, B is the buyer payout rate (percentage of melt value remaining after buyer spread/margin, before separately itemized fees), and F is separately itemized fees, refining charges, or melt losses. GF is gold-filled metal value and R is the marked gold-layer ratio.
Calculations use standard weight and purity formulas with live market spot prices. See our Calculation & Editorial Methodology for complete formula steps and limitation disclosures.
How to Calculate Scrap Gold in 3 Steps
Weigh your item, select purity, and determine your melt value estimate
1. Weigh the Gold
Use a digital gram scale accurate to 0.01g. Enter the weight in grams, pennyweights (DWT), troy ounces, or grains.
Use the gold-only weight when known. If stones or non-gold components cannot be safely removed, estimate or deduct their weight separately, or use our dedicated Scrap Gold Jewelry Calculator.
2. Identify / Verify Purity
Check the hallmark stamp on your jewelry: 375 = 9K, 417 = 10K, 585 = 14K, 750 = 18K, 916 = 22K, 999 = 24K.
No stamp? Use an acid scratch kit, electronic gold tester, or XRF spectrometer. A reputable refiner or jeweler can assay unmarked items. Read our guide to gold hallmark numbers and fineness for a complete breakdown of international stamps.
3. Calculate Melt Value
Multiply: Weight × Unit Conv. × (Karat ÷ 24) × Spot Price to establish the theoretical melt value.
The result is the theoretical metal value before buyer margins and deductions. Learn how to calculate scrap gold value manually step-by-step, or use the payout estimator to model net cash proceeds.
What Determines Scrap Gold Melt Value & Buyer Payout?
Distinguishing intrinsic metal-value factors from commercial payout factors
Gold Item
↓Weight+Purity+Spot Price
↓Fine-Gold Content
↓Theoretical Melt Value
↓Buyer Payout / Spread
↓Fees or Losses
↓Estimated Net Cash
Melt Value Factors
Intrinsic Metal Worth (Mathematical Ceiling) 1
Gold-Bearing Weight
Measured in grams, pennyweights (DWT), troy ounces, or grains. Deduct gemstones and non-gold components to determine the net gold-alloy weight.
2
Karat / Fineness Purity
The proportion of fine gold in 24 parts (e.g., 24K = 99.9%, 18K = 75.0%, 14K = 58.3%). Higher karat means more pure gold per gram.
3
Current Gold Spot Price
The market reference price for fine gold, generally quoted in U.S. dollars per troy ounce and influenced by trading across major global OTC and futures markets. This calculator uses the third-party price feed identified beside the live quote.
4
Non-Gold Components
Gemstones, steel springs or pins, enamel, and other non-gold components should be excluded from the gold-alloy weight where their weight is known. Components such as solder may have a different composition or purity and are more accurately handled through professional testing or refining.
Buyer Payout Factors
Commercial Terms & Deductions 1
Buyer Spread / Payout Percentage
Buyer payout percentages vary by buyer type, lot size, purity, testing method, location, and commercial terms. The ranges shown in the payout estimator are illustrative modeling presets, not universal market rates.
2
Refining Charges
Refining charges vary by refiner, lot size, material composition, assay requirements, and commercial terms. Use the actual quoted charge when comparing buyer offers.
3
Assay & Testing Charges
Testing charges may be flat, percentage-based, included in the buyer's spread, or waived depending on the buyer, testing method, and lot size. Methods may include acid testing, XRF analysis, or laboratory fire assay.
4
Lot Size & Commercial Terms
Larger commercial lots may qualify for different fee tiers or payout terms depending on the refiner and commercial agreement.
The scrap gold calculator calculates intrinsic melt value via: Melt Value = Weight × Unit Conversion × (Karat ÷ 24) × Spot Price. Your net cash proceeds are then determined by: Net Cash = Melt Value × Buyer Payout Rate − Itemized Deductions. Understanding both stages enables informed offer comparison.
Gold Hallmarks, Karats & Purity
Identify your gold's purity from the hallmark stamp — then calculate its scrap value
A hallmark or quality mark indicates the claimed karat purity or fineness of a gold item. The Federal Trade Commission (FTC) explains that karat describes how many parts out of 24 are pure gold. A fineness number — such as 585 for 14K or 750 for 18K — provides a reliable starting point for estimating melt value, though professional testing may still be required for verification.
| Karat | Common Fineness Mark | Gold % | Purity | Typical Context |
|---|---|---|---|---|
| 24K | 999 | 99.9% | Investment bullion, pure bars, gold grain | |
| 22K | 916 | 91.7% | High-purity jewelry, traditional wedding pieces, select bullion coins | |
| 21K | 875 | 87.5% | High-purity jewelry and regional decorative pieces | |
| 18K | 750 | 75.0% | Fine jewelry, luxury watches, bridal collections | |
| 15K | 625 | 62.5% | Antique British jewelry (pre-1932) | |
| 14K | 585 | 58.3% | Common fine jewelry alloy, rings, chains, everyday wear | |
| 12K | 500 | 50.0% | Gold-filled base layers, vintage decorative pieces | |
| 10K | 417 | 41.7% | Durable fine jewelry alloy (41.7% gold) | |
| 9K | 375 | 37.5% | Entry karat gold alloy (37.5% gold) | |
| 8K | 333 | 33.3% | Low-karat decorative alloy (33.3% gold) |
HallmarkKaratPurity
333→8K→33.3%
375→9K→37.5%
417→10K→41.7%
585→14K→58.3%
750→18K→75.0%
916→22K→91.7%
999→24K→99.9%
Fineness marks are commonly associated with karat grades but may not exactly equal the mathematical karat ÷ 24 percentage in every case. For example, 14K is 58.33% by the karat formula, while a 585 fineness mark represents 58.5% gold.
If your gold item has no visible hallmark stamp, a professional jeweler can test its purity using an acid scratch test, electronic gold tester, or XRF spectrometer. A gold refinery can perform a fire assay for definitive verification. Enter the confirmed karat into the scrap gold calculator above to compute its melt value.
Scrap Gold Calculation Examples
Step-by-step melt value calculations for common scrap gold items
Each example below applies the standard scrap gold formula: convert weight to troy ounces, multiply by the karat purity fraction, then multiply by the gold spot price. Illustrative Examples — Using a Reference Spot Price of $3,235.00 per Troy Ounce (the live price in the calculator above may differ).
18K Gold Chain — 22.0 grams
- 1 Weight: 22.0 grams
- 2 Convert to troy ounces: 22.0 ÷ 31.1034768 = 0.7073 ozt
- 3 Purity fraction: 18 ÷ 24 = 0.7500 (75.0% gold)
- 4 Melt value: 22.0 ÷ 31.1034768 × (18 ÷ 24) × $3,235 = $1,716.13
Estimated Melt Value $1,716.13
22K Gold Coin — 8.0 grams
- 1 Weight: 8.0 grams
- 2 Convert to troy ounces: 8.0 ÷ 31.1034768 = 0.2572 ozt
- 3 Purity fraction: 22 ÷ 24 = 0.9167 (91.7% gold)
- 4 Melt value: 8.0 ÷ 31.1034768 × (22 ÷ 24) × $3,235 = $762.72
Generic 22K-by-purity example only; named bullion coins should use their official fine-gold weight when published.
Estimated Melt Value $762.72
These examples illustrate melt value based on contained fine gold. A scrap buyer's net offer may be lower after margins and disclosed fees; a collectible, antique, or branded item may instead sell for more than melt value. Use the scrap gold calculator to run your own calculation with the live gold spot price and the payout estimator to model a buyer's net offer.
Scrap Gold Weight & Unit Conversions
Essential weight conversions for precious metal calculations — sourced from NIST standards
Precious metals are traded and weighed using the troy weight system, not the standard avoirdupois system used for everyday items. A troy ounce (31.1035 grams) is approximately 10% heavier than a regular ounce (28.3495 grams). The table below lists the most common weight units used by gold buyers, jewelers, and refineries — with exact conversion factors documented by the National Institute of Standards and Technology (NIST).
| Unit | Grams | Troy Ounces | Pennyweight (DWT) | Grains | Milligrams |
|---|---|---|---|---|---|
| 1 Gram | 1.0000 | 0.03215 | 0.6430 | 15.4324 | 1,000 |
| 1 Troy Ounce | 31.1035 | 1.0000 | 20.0000 | 480.000 | 31,103.5 |
| 1 Pennyweight (DWT) | 1.5552 | 0.05000 | 1.0000 | 24.0000 | 1,555.2 |
| 1 Grain | 0.06480 | 0.00208 | 0.04167 | 1.0000 | 64.80 |
| 1 Avoirdupois Ounce | 28.3495 | 0.91146 | 18.2292 | 437.500 | 28,349.5 |
Conversion factors follow NIST guidance. Precious-metal spot quotes are commonly expressed per troy ounce, while transactions may use troy or SI metric units. The scrap gold calculator converts your input weight automatically before applying the melt value formula.
Types of Scrap Gold
Common gold items, alloy compositions, and valuation considerations
Scrap gold encompasses any gold item valued primarily for its fine precious-metal content rather than its aesthetic, retail, or artistic merit. Below is an overview of how different gold items, alloys, and compositions are evaluated for scrap recovery.
Solid-Gold Jewelry
Broken rings, tangled chains, single earrings, bent bracelets, and out-of-service watch cases. Pure gold (24K) is too soft for everyday jewelry, so manufacturers alloy it with silver, copper, nickel, or zinc. The most common solid jewelry karats are 10K (41.7%), 14K (58.3%), 18K (75.0%), and 22K (91.7%). Remember to deduct gemstones, spring rings, and base-metal pins before calculation.
Gold Coins & Bullion
Recognized investment-grade bullion bars may trade close to spot value and can carry a market premium or dealer spread depending on brand, size, condition, and current demand. Gold coins (such as Sovereigns or Krugerrands) have well-documented fine gold weights; melt value provides their baseline value, though rare dates require numismatic evaluation. In contrast, gold doré is an unrefined precious-metal alloy that requires assay and refining before its fine-gold content can be determined, so valuation depends on verified composition and refining terms.
Dental & Other Precious-Metal Items
Dental alloys can vary widely in gold and other precious-metal content (such as platinum and palladium). Because they may not carry standard jewelry hallmarks, professional testing or assay may be needed before accurate valuation.
Gold-Filled & Gold-Plated Items
Gold-filled items have a gold-alloy layer mechanically bonded to a base metal. Markings such as 1/20 14K GF or 1/10 12K GF identify the marked layer ratio and the karat quality of that gold layer. Use those markings when calculating recoverable gold content. Gold-plated items have an electroplated surface layer measuring mere microns thick and generally carry negligible scrap metal value.
Solid Gold vs. Gold Filled vs. Gold Plated
Comparing gold content, markings, and appropriate valuation methods
Solid Gold
Gold alloy throughout
Gold Filled
Bonded gold-alloy layerBase metal coreExample marking: 1/20 14K GF
Gold Plated
Very thin gold coatingBase metal coreExamples: GP / GEP / HGE
Always verify markings before assuming an item is solid gold. If an item is stamped GF, use the dedicated Gold Filled Scrap Calculator to apply the appropriate layer ratio formula.
When Scrap Value May Not Be the Best Valuation
Some gold items are worth more than their melt value — selling for scrap may leave money on the table
A scrap gold calculator determines melt value based strictly on weight, karat, and spot price. However, certain gold items carry a market premium above melt value due to craftsmanship, historical significance, brand recognition, or collector demand. Before you sell gold jewelry for scrap, consider whether the item falls into one of these higher-value categories.
Antique & Vintage Jewelry
Gold pieces from the Art Deco, Victorian, or Edwardian eras may hold significant antique value. A qualified independent appraiser can assess whether the craftsmanship, age, and provenance may support a price above the gold melt value.
Numismatic & Rare Coins
Rare gold coins — pre-1933 US gold eagles, limited-edition sovereigns, proof sets — often carry premiums far exceeding their melt value. Have a reputable coin dealer or numismatist evaluate rarity and condition before scrapping.
Designer & Branded Pieces
Authentic jewelry from recognized luxury brands (e.g., Cartier, Tiffany & Co., Van Cleef & Arpels) may attract a resale premium. Brand, condition, original packaging, and documentation can support a value above the melt calculation, but no premium is guaranteed.
Estate & Heirloom Pieces
Estate jewelry with documented provenance, unique gemstone settings, or historical significance may attract collectors willing to pay above spot. Consider a professional appraisal before committing to a scrap gold sale.
If your item does not fall into any of these categories — for example, a broken chain, a dented ring, or miscellaneous dental gold — the melt value from this scrap gold calculator provides a useful baseline for its contained metal value.
Before You Sell Scrap Gold
A step-by-step checklist to maximize your payout when selling scrap gold
Selling scrap gold without preparation can cost you money. Follow this checklist to better evaluate and compare scrap gold offers for your gold jewelry, coins, dental gold, or bullion. Each step helps you avoid common pitfalls and negotiate from a position of knowledge.
1
Weigh Accurately with a Digital Scale
Use a digital gram scale accurate to 0.01 grams. Kitchen scales work for rough estimates, but a jeweler’s scale gives the precision needed for accurate melt value calculations.
2
Identify & Verify the Karat Purity
Check for hallmark stamps (375, 417, 585, 750, 916, 999) or karat marks (9K–24K). If no stamp is visible, use an acid test kit or visit a jeweler with an XRF spectrometer for non-destructive testing.
3
Establish Theoretical Melt Value Before Getting Quotes
Use the scrap gold calculator to establish your item’s baseline melt value before approaching buyers. This gives you a clear benchmark to evaluate every offer against.
4
Separate Karat Groups
Sort your scrap gold into distinct piles by karat (10K, 14K, 18K). Ask for different karat groups to be weighed and priced separately. If a mixed lot is valued together, ask the buyer to explain the blended-purity calculation. If you have a mixed lot, use the Mixed Karat Calculator.
5
Account for Non-Gold Weight
Use the gold-only weight when known. If stones or non-gold components cannot be safely removed, estimate or deduct their weight separately, or use the Scrap Gold Jewelry Calculator.
6
Get Multiple Written Quotes from Different Buyers
Compare quotes from multiple buyers when practical (local jeweler, mail-in buyer, refinery). Compare net cash payouts after all fees, not just the advertised payout percentage.
7
Compare Net Cash Proceeds
A buyer offering 90% payout with high assay and refining fees may net you less cash than a buyer offering 85% with zero deductions. Always evaluate final cash in hand.
8
Ask Which Spot Price Reference and Time Were Used
Confirm whether the buyer’s quote is based on current live spot prices or a delayed daily fix, and ensure all quotes you compare reference a similar market timeframe.
9
Understand and Itemize Every Deduction
Ask each buyer to itemize any deductions, such as the buyer's margin, refining or testing charges, and shipping or insurance costs. Ask for the calculation and all charges in writing.
10
Check Buyer Reputation & Business Information
Research independent reviews, business history, contact information, and any licensing or registration required in the buyer's jurisdiction. Trade association membership can be one positive signal, but it is not a guarantee of payout accuracy.
11
Avoid Pressure Tactics or Unexplained Deductions
Reputable gold buyers provide transparent, written estimates and give you time to consider. Avoid buyers who pressure you for immediate acceptance or refuse to explain their calculations.
Following this checklist can help you approach the gold-selling process informed and prepared. The payout estimator can help you model possible net cash after a buyer's stated margin and deductions.
Specialized Tools
Specialized Scrap Gold Calculators
Specialized tools for every scrap gold scenario — pick the one that matches your gold item.
10K Gold
10K Scrap Gold Calculator
41.7% Pure · Common lower-karat US jewelry alloy
14K Gold
14K Scrap Gold Calculator
58.3% Pure · Common jewelry alloy
18K Gold
18K Scrap Gold Calculator
75.0% Pure · Higher-purity jewelry alloy
22K/24K Gold
22K & 24K Scrap Gold Calculator
91.7% – 99.9% Pure · High-purity coins & bullion
Weight Units
Scrap Gold Calculator Per Gram
Live per-gram, DWT, ounce, grain and mg pricing
Mixed Lots
Mixed Karat Scrap Gold Calculator
Calculate a blended lot across multiple karats
Jewelry
Scrap Gold Jewelry Calculator
Net gold weight after stones and non-gold parts
Coins
Gold Coin Scrap Value Calculator
Melt value only for bullion and non-numismatic coins
Gold Filled
Gold Filled Scrap Value Calculator
1/20 GF & 1/10 GF layer weight ratios
Hallmarks
Scrap Gold Hallmark Calculator
Convert 375, 417, 585, 750, 916 and 999 to value
Live Rates
Scrap Gold Rates & Payout Calculator
Live rates, payout spreads, and offer checks
How We Source Prices & Verify Calculations
Our calculation rules are documented against primary United States government sources. Last source review: .
Publisher: Scrap Gold Calculator. Review status: formula and terminology checked against the sources below. This is an independent informational calculator; citation does not mean the FTC, NIST, CFTC, or U.S. Mint reviews, certifies, partners with, or endorses this website.
| Methodology item | Rule used by this calculator | Named authority and primary U.S. reference |
|---|---|---|
| Karat purity | Purity fraction = karat ÷ 24. For example, 18K is 18 parts gold out of 24, or 75%. | Federal Trade Commission (FTC) Buying Platinum, Gold, and Silver Jewelry |
| Weight conversion | 1 troy ounce = 31.1034768 grams = 20 pennyweights = 480 grains. | National Institute of Standards and Technology (NIST), Office of Weights and Measures (OWM) Conversion Factors for Precious Metal Sales |
| Estimated melt value | weight in troy oz × (karat ÷ 24) × spot price per troy oz. This estimates contained-gold value before buyer deductions. | NIST Office of Weights and Measures (OWM) Precious Metals Conversion Information |
| Spot price and buyer offer | Spot is a market reference, not a guaranteed payout. A buyer may quote below spot and apply its own spread, fees, or other deductions. | Commodity Futures Trading Commission (CFTC), Office of Customer Education and Outreach; jointly issued with the Financial Industry Regulatory Authority (FINRA) 10 Things to Ask Before Buying Physical Gold, Silver, or Other Metals |
| Gold-filled and plated items | Gold-filled calculations use both the marked gold-layer fraction and that layer's karat. Plated items are not valued with the solid-karat formula. | Federal Trade Commission (FTC) Buying Platinum, Gold, and Silver Jewelry |
| Gold coins | Use official fine-gold content or published specifications when available. Melt value does not include a coin's dealer premium or collectible value. | United States Mint, U.S. Department of the Treasury Bullion Coin Programs and Bullion Consumer Awareness |
Price-data relationship
The displayed gold price is requested from a third-party provider chain: Metals.live, Secondary currency API, Open ER-API, then ExchangeRate-API. The calculator shows the provider label and local update time. If those feeds fail, it clearly labels the stored value as a reference benchmark. These providers supply quote data; they do not review our formulas or endorse the site.
What the result does—and does not—represent
The result is a mathematical melt-value estimate based on the weight, purity, and price entered or displayed. It is not an assay, appraisal, binding purchase offer, investment recommendation, or guarantee of authenticity. Hallmarks can be a starting point, but a buyer or refiner may test the item and deduct non-gold weight, fees, or its margin.
Frequently Asked Questions About Scrap Gold Value
A gold scrap calculator multiplies the weight of your gold (converted to troy ounces) by the karat purity fraction (karat ÷ 24), then by the current live gold spot price per troy ounce. The result is the estimated melt value — the theoretical maximum before any refinery deductions, assay fees, or dealer margins.
Scrap gold includes any gold item sold for its metal content rather than design or collectible value. Common examples: broken rings, chains, bracelets, earrings, watches, dental gold, gold coins below numismatic value, damaged bullion, and gold-filled items. Gold-plated items contain negligible gold and are generally not worth scrapping.
Scrap gold value = weight (troy oz) × purity fraction × current gold spot price. This is the theoretical melt value before a buyer's margin, testing fee, refining charge, or other deduction.
1. Weigh the gold in grams using a digital gram scale. 2. Find the karat from the hallmark stamp (375 = 9K, 417 = 10K, 585 = 14K, 750 = 18K, 916 = 22K, 999 = 24K). 3. Convert grams to troy ounces by dividing by 31.1034768. 4. Multiply: troy ounces × (karat ÷ 24) × current spot price per troy ounce. A hallmark is a useful starting point, but testing may be needed to confirm an item's purity.
Divide the current gold spot price per troy ounce by 31.1034768 grams to get the fine-gold per-gram rate, then multiply by the selected karat fraction. This produces a melt value; the buyer's net offer may be lower after margins and deductions.
The payout depends on the buyer, lot size, purity, testing method, location, refining requirements, and fees. The ranges shown in the estimator are illustrative, not guaranteed industry rates. Compare net quotes from multiple buyers and ask each one to identify the spot-price reference, payout percentage, and deductions used.
A troy ounce = 31.1035 grams. A standard (avoirdupois) ounce = 28.3495 grams. Troy ounces are approximately 10% heavier. All precious metal prices — gold, silver, platinum, palladium — are quoted in troy ounces on the spot market. One troy ounce also equals 20 pennyweights (DWT) or 480 grains.