1. What is 14kt Gold Melt Value?

The 14kt gold melt value represents the intrinsic metal value of 14 karat gold based on its weight and the current gold spot price. It's the theoretical value if the gold were melted down and sold as pure gold content.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• \( Weight \) — Weight of gold in troy ounces
• \( \frac{14}{24} \) — Purity factor for 14kt gold (58.3% pure gold)
• \( Spot \) — Current gold spot price in USD per troy ounce

Explanation: The equation accounts for the fact that 14kt gold is only 58.3% pure gold (14 parts gold out of 24 total parts).

3. Importance of Gold Purity

Details: Gold purity is measured in karats (kt), with 24kt being pure gold. Lower karat values indicate alloys with other metals. The melt value calculation must account for this purity difference.

4. Using the Calculator

Tips: Enter weight in troy ounces (1 troy oz = 31.1035 grams) and current gold spot price in USD/oz. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why multiply by 14/24?
A: This accounts for the fact that 14kt gold is only 58.3% pure gold (14 parts gold out of 24 total parts).

Q2: Where can I find current gold spot prices?
A: Spot prices are available from commodities exchanges like COMEX, LBMA, or financial news websites.

Q3: Is this the same as scrap value?
A: No, scrap buyers typically pay less than melt value to account for refining costs and profit margins.

Q4: Does this work for jewelry and coins?
A: Yes, as long as they're marked 14kt or verified to be 58.3% pure gold.

Q5: How accurate is this calculation?
A: It's theoretically accurate, but actual buy prices may vary based on market conditions and buyer premiums.