The Precious Metal Buy Price calculator computes the Jeweler's Buy Price for several types of precious metals based on the current value of a precious metal, the metal's purity, a scrap processing fee, and the jeweler's profit margin.
INSTRUCTIONS: Choose units and enter the following:
- (W) Weight of Precious Metal
- (PM) Metal Type (gold, platinum, silver, palladium)
- (P%) Percent Purity
- (S%) Percent Scrap Fee (processing cost to jeweler)
- (F%) Percent Fee (jeweler's profit)
Jewelers Precious Metals Buy Price (BP): The buy price is returned in U.S. dollars. However, this can be automatically converted to compatible units via the pull-down menu.
The Math / Science
The Jewelers Precious Metals Buy Price calculator computes the Jeweler's Buy Price for precious metals based on the current value of a precious metal, the metal's purity, a scrap processing fee, and the jeweler's profit margin.
- choice of metal type
- alloy purity percentage
- alloy weight
- a percentage fee for scrap metal processing/refining
- a percentage profit margin (fee).
The result is the price that can be given to the seller of the metal while paying the refiner and making the profit (fee) identified.
The weight can be in Troy ounces, pennyweight or grams. vCalc converts the weight into Troy Ounces and then fetches the current spot price for an ounce of gold. It then multiplies the weight of the pure gold content against the spot price and scrap discount percentage to give the gold's value. discount(scrap) = 1 - scrap
Note: scrap is a percentage. It can vary based on the purity and the metal. Gold is often refined for as little as 2%. However, lately silver may command a 30% scrap refining fee.
SPOT comes from /www.xmlcharts.com/cache/precious-metals.xml
Precious Metals Calc
The Precious Metals Calculator has functions to compute the price a Jeweler can reasonably pay for items for their value in Gold, Platinum, Palladium and Silver.
| Bullion SPOT PRICES | |||
| Metal | ($/gram) | ($/troy_oz) | |
| Gold | $87.022 | $2706.69 | |
| Platinum | $30.993 | $963.99 | |
| Palladium | $31.958 | $994.01 | |
| Silver | $1.003 | $31.2 | |
| Updated every Two Minutes | |||
- Precious Metal Buy Price: Computes the Jeweler's Buy Price for several types of precious metals based on the current value of a precious metal, the metal's purity, a scrap processing fee, and the jeweler's profit margin.
- Gold Buy Price: Computes the Jeweler's Buy Price for gold based on the current value of gold, the karat purity, a scrap processing fee, and the jeweler's profit margin.
- Platinum Buy Price: Computes the Jeweler's Buy Price for platinum based on the current value of platinum, the percent purity, a scrap processing fee, and the jeweler's profit margin.
- Palladium Buy Price: Computes the Jeweler's Buy Price for palladium based on the current value of palladium, the percent purity, a scrap processing fee, and the jeweler's profit margin.
- Silver Buy Price: Computes the Jeweler's Buy Price for silver based on the current value of silver, the percent purity, a scrap processing fee, and the jeweler's profit margin.
- Junk Silver Value: Computes the current value for Junk Silver based on the dollar Face Value and the current Silver Spot Price in U.S. dollars.
- Clad Silver Value: Computes the current value for U.S. silver half dollars with dates between 1965 to 1970, based on the dollar Face Value, a Clad Silver factor and the current Silver Spot Price.
- Karat to Percentage: Convert a karat value (10, 14, 18, 22, 24) to a percent purity.