How to Quickly Calculate Your Gold and Silver Melt Value
If you’re a gold and silver coin collector, small bullion investor, jewelry store, or scrap metal dealer, knowing the melt value of your gold and silver is essential for you. With pocket gold and silver prices changing every day and through a global market, you need a simple and reliable way to determine the melt value of your metal using a gold calculator, or does just contain melt value in summary. In the following discussion, we will address what a melt value is, melt value meaning, how melt value is set and wgh principles, and what a reliable calculator can estimate…..in real-time.
What Is Melt Value?
Melt value refers to the exchange value of a precious metal item, whether it is gold jewelry, silver coins, or scrap metal, priced based on its weight and purity. For purposes of this discussion, melt value is what your item would value if melted and transacted as pure gold and silver at market value.
Melt value is defined different than market understanding is too as collectible value. Examples include: ‘A rare gold coin may value far more than the melt value because of its rarity or community of collectors’ or ‘Antique jewelry styles possess design value or brand value in excess of the value of the intrinsic metal content’.
If you plan to sell valuable items as representations of their metal value only, the melt value is where negotiation begins.
The Importance of Melt Value
Why is it important for certain types of people and businesses to understand melt value? Here are a number of answers.
1. Sellers Of Jewelry
Are you looking to finally part with some broken or unwanted jewelry? Most buyers will be looking to price broken or unwanted jewelry based on the weight of the silver or gold metal. You can find the gold melt price for today and know a baseline to work from to help yourself in price negotiations. The key here is to sell transactional jewelry, not collectible jewelry.
2. Coin Collectors
Many people collect coins for their collectible value, however, many older coins often have greater value for their gold or silver content than the face value of the coin itself. In that case, it may help to weigh coins on a silver value calculator to determine if selling by the weight will provide more value.
3. Scrap Metal Dealers
If you buy scrap metal in the recycling business, melt value is the low end of what you intend to pay for materials to then resell materials at different pricing than melt value.
4. Bullion Investors
If you purchase pieces of gold or silver bars or rounds for investing purposes, understanding the melt price of a bullion price calculator allows you to know the market value of your investment as it changes dollar by dollar.
How are melt prices determined?
The pricing for precious metals changes hourly, if not sooner — it is typically determined by global markets. The three primary financial exchanges that establish melt prices include, but are not limited to:
- COMEX (Commodity Exchange Inc.) – Located in New York and as part of the CME (Chicago Mercantile Exchange), a futures and options market primarily focused on gold and silver.
- NYMEX (New York Mercantile Exchange) – According to their website, NYMEX reaches participants in over 180 countries. NYMEX develops bids for metals and energy products as part of the CME Group as well.
- London Metal Exchange (LME) – The LME is one of the most prominent global trading venues for industrial metals, and also includes precious metals on their listing.
These exchanges will provide you with live spot prices, which are the costs of getting gold, silver, and or metals shipped right away. For example if you are wondering what the price of 14k gold price per gram, this will give you a baseline for market price. The melt value calculator will take the spot prices and add them to the weight and purity of your item above
Elements Which Affect the Melt Price:
- The kind of metal (Gold, silver, platinum, etc.)
- The purity of the metal (Commonly 10K, 14K, 18K, 24K for gold)
- The total weight of the item (grams, ounces, pennyweights)
- Current live price (todays price for surrounding areas or market price)
Let’s figure out the melt value of your item online (Fast and Easy)
Instead of being a commodities manger, calculating the worth of your metal just got a lot easier thanks to the plethora of online tools. Meltcalculator.com is a great way to find precious metal value by completing a few steps quickly and accurately.
Here is how use to this tool for scrap gold pricing
Step 1: Choose Your Metal Type
Decide if you are pricing gold, silver or platinum, or precious metals decay.
Step 2: Enter Weight
Enter the total weight of your item, this calculator can accept common units, grams, troy ounces, or pennyweights (grams are the common weight).
Step 3: Select Purity
When valuing your gold piece, you will select 10K, 14K, 18K, 22K or 24K. If your item is silver, you will select sterling silver (e.g. .925) or fine silver.
Step 4: Real-Time Price
Real-time data is pulled from exchanges (COMEX, NYMEX, LME). The data is executed for you through the calculator for a fast calculation based on today’s melt price for gold or silver.
Step 5: Calculate Melt Value
You can use the melt value calculator to get an estimate of your metals value, so you can be an informed seller for buyers, to get your gold back or investment paid.
Why use Meltcalculator.com?
There are a number of online calculators, meltcalculator.com is an easy to use and user friendly gold calculator for several reasons:
- Real-time prices pulled from reputable exchanges
- Simple application and easy-to-read mobile layout
- Fast and comprehensive
- No sign up or fee
Weather you are using meltcalculator.com from your home sorting through jewelry or in a pawn shop negotiating the sale, meltcalculator.com is a great tool to use while giving you the power to calculate a price.
Conclusion
In a commodities market with prices that can change any moment, access to a reliable melt value calculator is a necessity before you base any selling decisions. Don’t lose money, try to check the gold melt price today and you can know now the true worth of how much your item is really worth sold, traded from a business or to just save your gold for another day.