What is melt value?

The formula

• Pure metal in grams = weight in grams × purity (for example 0.583 for 14K, 0.925 for sterling).
• Melt value = pure grams ÷ 31.1035 × the metal price per troy ounce.

Gold is at $3,942 and silver at $50.10 per troy ounce right now (the Kitco bid).

Worked examples

With gold at $4,000 an ounce: a 10-gram 14K chain holds 5.83 grams of pure gold, so its melt value is 5.83 ÷ 31.1035 × $4,000, about $750. With silver at $50: a kilo of sterling holds 925 grams of silver, a melt value of about $1,487.

Why buyers pay a percentage of it

No buyer pays 100% of melt value: refining costs money and every buyer needs a margin. So the fair way to compare buyers is the percentage of melt value each pays. We pay 94% for scrap gold and 96% for gold coins and bars, which today means $69.46/g for 14K gold. In consumer tests, jewelers and pawn shops paid 36% to 71%; see what the tests found.

Scrap prices are per gram of metal after melting, not per gram of what you send. Stones are removed, and dirt, glue, springs, and anything else that isn't gold or silver burn off or separate out, so the weight paid is usually less than your scale shows.

When something is worth more than melt

Rare coins, antique or signed jewelry, and designer pieces can be worth more than their metal. Melt value is the floor, not always the ceiling. Send photos if you think you have something special.

Selling guides: Who pays the most for gold? · Best place to sell gold · Best place to sell silver · Gold-buying scams · Melt value · How you get paid · What you need to sell · All guides

The highest payouts for your gold, at a published percentage of the live Kitco bid.