Melt Value Calculator — Calculate Scrap Gold Material Value
Example: 999 = 0.999, 585 = 0.585, 333 = 0.333
Material Value
3,909.78 EUR
Pure weight: 31.10g · Spot price: 3,910.61 EUR/oz
Click on a coin to automatically fill in the values
What will a dealer pay you? Buy-back price after deducting the dealer margin.
129 coins — Check weight against target data with traffic light system.
What Is the Melt Value?
The melt value (also known as metal value or intrinsic value) refers to the pure material value of the precious metal contained in an object. It indicates how much the object would be worth if you melted it down and sold the contained fine gold, fine silver, platinum or palladium at the current spot price.
The melt value therefore represents the absolute floor value of any precious metal object. No rational seller should sell below this price, because the material alone is worth this amount.
The Melt Value Formula
Melt Value = Weight (g) × Fineness × Spot Price per Gram
Example: 10 g × 0.585 × 88.50 EUR/g = 517.73 EUR
Melt value vs. other value concepts
- ◆ Face value: The denomination stamped on a coin (e.g. 100 EUR on a gold coin). For bullion coins, the face value is far below the melt value and is purely symbolic.
- ◆ Collector value: The numismatic value determined by rarity, condition and demand. For rare coins, it can be many times the melt value.
- ◆ Buy-back price: The amount a dealer or refinery actually pays. This is typically 2–10% below the melt value, as processing costs and margin are deducted.
- ◆ Spot price: The current market price for one troy ounce (31.1035 g) of pure precious metal on international trading venues. It is the calculation basis for the melt value.
Melt Value vs. Buy-Back Price
Anyone selling scrap gold or precious metal objects will almost never receive the full melt value from a dealer. The actual buy-back price is between 85% and 98% of the melt value depending on the product and provider. The difference is made up of various costs and margins that arise along the processing chain.
Typical Deductions from the Melt Value
- ◆ Refining costs (1–3%): The precious metal must be separated from alloy components and converted into fine gold/fine silver. Refineries charge a fee for this, which depends on the alloy and quantity.
- ◆ Assay costs (0.5–2%): Before purchase, the actual fineness must be determined. XRF analysis, streak tests or fire assays incur costs that the dealer factors in.
- ◆ Dealer margin (2–5%): The dealer must cover rent, staff and insurance and needs a profit margin. For larger quantities, the percentage margin typically decreases.
- ◆ Price risk: Between purchase and resale, the precious metal price can fall. Dealers factor in this risk, especially in volatile markets.
When is a premium above the melt value justified?
Not every precious metal object should be sold at melt value. For certain products, the actual market value is significantly higher:
- ◆ Rare collector coins: Historical coins such as Sovereigns, Napoleons, or rare vintages can reach many times the melt value numismatically. Always have the collector value assessed before melting.
- ◆ Limited editions: Coins with small mintages (e.g. proof versions, special issues) often carry a collector premium far above the material value.
- ◆ Designer jewelry and antiques: Gold jewelry from renowned brands (Cartier, Tiffany) or antique pieces with cultural value should never be sold at melt value.
Practical tip: Always compare at least three buy-back offers. Online gold buyers often pay 1–3% more than local jewelers, as they have lower fixed costs. Use our Buy-Back Price Calculator to determine realistic payout amounts.
Determining Fineness — Reading Hallmarks
Fineness (also purity) indicates the proportion of pure precious metal in an alloy. It is expressed in thousandths: a fineness of 750 means that 750 out of 1,000 parts by weight consist of pure gold. Fineness is the decisive factor in melt value calculation.
Common Hallmarks and Their Meaning
Where to Find the Hallmark
Hallmarks are small stamps struck into or laser-engraved onto the precious metal. Depending on the object, they can be found in different places:
- ◆ Rings: On the inside of the band, often together with the maker's mark.
- ◆ Chains and bracelets: On the clasp or on a small plaque near the fastener.
- ◆ Bars: Stamped on the front, together with weight, manufacturer and serial number.
- ◆ Coins: The fineness is on the edge or reverse (e.g. ".999 FINE GOLD").
No Hallmark? Testing Methods
If the hallmark is missing or illegible, there are various methods to determine fineness:
- ◆ XRF analysis (X-ray fluorescence): The most accurate non-destructive method. An X-ray beam excites the atoms in the material, and the exact composition is determined from the emitted radiation. Many jewelers and refineries offer this service (approx. 10–30 EUR).
- ◆ Streak test (touchstone): The precious metal is rubbed across a black test stone. The resulting streak is treated with test acids. Depending on the reaction, the fineness can be determined to within 1–2 carats. Common at jewelers, leaves minimal marks.
- ◆ Acid test (aqua regia): A drop of test acid is applied directly to the material. Gold only dissolves in aqua regia (hydrochloric acid + nitric acid). The reaction indicates the fineness but leaves a small mark.
- ◆ Density determination: Gold has a characteristic density of 19.3 g/cm³. By weighing in air and in water (Archimedes' principle), one can determine whether the material is genuine. However, tungsten forgeries can exhibit similar densities.
Melt Value of Dental Gold and Scrap Gold
Dental gold and scrap gold are two of the most common sources where the melt value is the decisive valuation basis. Unlike bullion coins or bars, this material has no collector value — the pure material value determines what it is worth.
Dental Gold: Alloys and Fineness
Dental gold is not a uniform alloy. Depending on the purpose and period of manufacture, the fineness varies considerably:
- ◆ High gold content (750–900): Inlays and onlays are frequently made from 750 or 900 gold alloys. These contain 75–90% pure gold and have a correspondingly high melt value.
- ◆ Medium fineness (585–750): Crowns and bridges typically consist of 585 to 750 gold alloys. The exact gold content depends on the dental technician and the requirements for hardness and biocompatibility.
- ◆ Low-gold alloys (333–585): Sometimes more economical alloys are used that contain silver, palladium, platinum and copper in addition to gold. These secondary metals also have a melt value.
- ◆ Ceramic veneers: Many crowns are partially coated with ceramic. This material has no precious metal value and must be removed before melting, which slightly increases costs.
Collecting and Recycling Scrap Gold
Scrap gold refers to damaged, unfashionable or unworn gold jewelry. Typical examples include broken chains, single earrings, bent rings or worn bangles. Gold watch cases, gold-plated eyeglass frames and cufflinks also fall into this category.
- ◆ Sort by fineness: Separate your scrap gold by hallmarks (333, 585, 750). Mixed shipments complicate the evaluation and lead to lower buy-back prices.
- ◆ Note minimum quantities: Many refineries only accept from 20–50 grams. Collect smaller amounts until you reach the minimum quantity to get better terms.
- ◆ Remove stones and non-precious metals: Gemstones, glass stones, steel clasps and leather parts should be removed beforehand so they do not falsify the weight.
Refinery vs. Dealer
When selling dental gold and scrap gold, two options are available:
- ◆ Refinery (direct): Typically pays 95–98% of the melt value. Analysis via XRF or fire assay is precise, and the result is transparent. Disadvantage: often minimum quantities and longer processing time (3–7 business days). Major refineries: C.Hafner, Agosi, Heraeus.
- ◆ Gold dealer/jeweler (local): Typically pays 85–93% of the melt value. In return, immediate cash payment, no minimum quantity and personal advice. Ideal for smaller amounts or when quick liquidity is needed.
Important: From a buy-back value of 2,000 EUR, the dealer is legally required to verify your identity (anti-money laundering law). Bring a valid ID. When shipping to a refinery, a copy of your ID must be enclosed.