Precious Metals, Gold, Silver & Platinum Bullion Calculator
Calculate scrap value, bullion weight (grams, troy oz, tolas), and spot market price in AUD.
Last reviewed by the myCalculator Editorial Team
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Formula & How Precious Metals, Gold, Silver & Platinum Bullion Calculator Works
The value of a piece of precious metal is the weight of pure metal it contains multiplied by the spot price. Purity is expressed as karats (24 karat is pure gold), fineness (999 is 99.9% pure) or a decimal. 18 karat gold is 75% pure, so 100 g of 18 karat gold holds 75 g of pure gold. One troy ounce is 31.1035 g, so that is 75 ÷ 31.1035 = 2.41 troy ounces. At a spot price of $3,850 per troy ounce the intrinsic value is about $9,284. A dealer will pay less than spot to cover their margin, and jewellery carries a retail premium over its metal value, so use the result as the melt value rather than the sale price.
- Enter Precious Metal: Input your target parameter value.
- Enter Purity / Karat / Fineness: Input your target parameter value.
- Enter Item Weight: Input your target parameter value.
- Enter Weight Unit: Input your target parameter value.
- Enter Spot Price per Troy Ounce (AUD $): Input your target parameter value.
- Apply Formula: Calculate using
Pure Metal (g) = Total Grams × Purity | Intrinsic Value = Pure Troy Oz × Spot Price. - Review Results: View exact computed answers, metrics, and worked mathematical proofs.
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Frequently Asked Questions (FAQs)
How many grams are in 1 Troy Ounce of gold?
There are exactly 31.1034768 grams in 1 Troy Ounce of gold, silver, or platinum.
What is the difference between 9K, 18K, and 24K gold?
24K is 99.99% pure gold. 18K contains 75% pure gold alloyed with silver/copper for durability. 9K contains 37.5% pure gold, popular in Australian everyday jewelry.
What is the Perth Mint standard?
The Perth Mint in Western Australia refines over 90% of Australia's newly mined gold to a guaranteed minimum 99.99% purity.
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Authoritative Standards & Verified Reference Citations
Calculations and mathematical logic on this page are grounded in published statutory rules, regulatory standards, and official government data published by the following bodies:
Australia's official bullion refinery refining over 90% of newly mined Australian gold to 99.99% purity.
National geoscience authority on Australian critical minerals, gold, LNG gas, and energy reserves.
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