How to use this list
Jump to a letter, then to the term. Links go to a guide or a calculator that uses the word, not to a shop. Nothing here is a bid for your jewelry. If a legal hallmark detail or a historical weight needs a closer reading, the relevant guide says so.
A
Alloy
A mix of metals. Jewelry gold is an alloy: some of the weight is gold and the rest is copper, silver, zinc, nickel or palladium. The karat tells you the gold share. See the gold purity chart for the usual mixes. Read about it in the gold purity chart.
Ask
The price a seller is asking in a two-way market. Quoted next to the bid. The gap between them is a cost of trading, not a scrap payout. The spot price calculators show is a single reference, not a live bid and ask from a dealer. Read about it in the how to calculate scrap value.
Assay
A test of what is actually in the metal. A fire assay consumes a sample. An X-ray assay reads the surface and a little under it. Refiners pay from an assay, not from the stamp alone. The selling guide explains what to ask for on the receipt. Read about it in the where to sell scrap gold.
Actual gold weight
The pure gold in a coin, in troy ounces, published by the mint. It is not the coin’s total weight and not the face value. The coin melt calculator multiplies actual gold weight by the spot price. A plated copy has neither the weight nor the gold. Read about it in the gold coin melt calculator.
B
Bid
The price a buyer is bidding in a two-way market. For a scrap seller the useful comparison is still melt value, then the percentage a shop will pay. A dealer’s bid on a coin can sit above or below melt because of demand. Read about it in the where to sell scrap gold.
Bullion
Gold in the form of bars or coins valued mainly for metal, not for a jewelry design. A bullion coin still has a face value that is not its gold weight. Use the coin melt calculator for the metal, and remember a premium can sit on top. Read about it in the gold coin melt calculator.
Base metal
A non-precious metal used as the body of plated or gold-filled items, or as the alloy partner in karat gold. Brass, copper and steel are the usual bodies under a gold coat. The magnet test is aimed at the steel case, not at the karat. Read about it in the is my gold real?.
C
Carat
When the subject is a gemstone, one carat is 0.2 grams of stone. When the subject is British gold, “carat” or “ct” means the same purity scale as karat, out of 24. A 1 carat diamond is not 1 karat gold. The purity chart separates the two. Read about it in the gold purity chart.
D
Dwt
The abbreviation for pennyweight. One dwt is 1.55517384 grams, and 20 dwt make a troy ounce. US jewelry buyers often quote in dwt. Convert before you multiply by a price that is per gram or per troy ounce. The calculation guide has the table. Read about it in the how to calculate scrap value.
F
Fineness
Purity in parts per thousand. 750 means 750/1,000 gold, which is 75 percent, which is 18 karat. Stamps use fineness because it does not depend on the word karat. On this site a custom purity from 101 to 1,000 is read as fineness. Read about it in the gold karat calculator.
G
Gold-filled
A layer of karat-gold alloy bonded to a base metal, stamped with a fraction such as 1/20 12K GF. The fraction is the layer’s share of the weight, and that layer is only partly gold. Price it with the gold-filled calculator, not as solid 12K. Read about it in the gold-filled calculator.
Gold-plated
A thin coat of gold over another metal, often marked GP, GE or HGE. The coat is too thin to treat as scrap gold. Worn edges show the metal underneath. The real-gold guide explains how plate differs from gold-filled. Read about it in the is my gold real?.
Grain
An old small weight. In the troy system, 480 grains make one troy ounce, so one grain is a troy ounce divided by 480. Jewelry today is rarely weighed in grains. If a note uses grains, convert to grams before the melt formula. Read about it in the gold weight calculator.
Gram
The metric weight the calculators prefer. A troy ounce is 31.1034768 grams. Melt value in grams is weight × purity × (spot per troy ounce ÷ 31.1034768). A kitchen scale in grams is a fair way to check a shop’s figure. Read about it in the how to calculate scrap value.
H
Hallmark
A mark struck by an assay office, not only by the maker, stating fineness and usually who submitted the piece. Britain and India run hallmark systems with extra symbols that have changed over time. The fineness number is the part that enters the formula. See the purity chart before you treat a worn symbol as a price. Read about it in the gold purity chart.
K
Karat
Gold purity out of 24 parts. 24K is pure for jewelry purposes. 18K is 18 ÷ 24, or 75 percent. 14K is 14 ÷ 24, about 58.3 percent, and is often stamped 585. Karat is not the carat used for diamonds. The purity chart lists both the math and the stamp. Read about it in the gold purity chart.
Kilogram
One thousand grams, about 32.15 troy ounces. Wholesale gold is quoted in larger bars, sometimes near 400 troy ounces or in kilograms. A jewelry lot is grams. Convert a kilogram price back to a troy-ounce price before comparing it with a shop board. Read about it in the gold calculator.
M
Melt value
What the pure gold in an item is worth at the spot price, before a buyer’s costs. Grams × (karat ÷ 24) × price per gram. It is not an offer, not an appraisal, and not the cheque. The calculation guide walks the steps. Read about it in the how to calculate scrap value.
O
Ounce
A word with two gold-relevant sizes. The troy ounce used in prices is 31.1034768 grams. The regular (avoirdupois) ounce on a kitchen scale is 28.349523125 grams. The troy ounce is heavier. Mixing them is a common way to miss the melt value. Read about it in the how to calculate scrap value.
P
Payout percentage
The share of melt value a buyer pays. This site labels mail-in refiners around 85–95 percent, jewelers around 65–80, and pawn shops around 50–70, and says those bands are typical and vary. They are estimates, not quotes. The selling guide explains how to compute the share from an offer. Read about it in the where to sell scrap gold.
Pennyweight
A troy weight, abbreviated dwt. One pennyweight is 1.55517384 grams. Twenty pennyweights are one troy ounce. A “price per dwt” might mean pure gold or the karat in your hand. Ask which before you compare it with melt. Read about it in the gold weight calculator.
Premium
The amount a coin or bar sells for above the melt value of its gold. Common bullion carries a small premium. A rare date can carry a large one. The coin calculator prices only the metal. It does not price the premium. Read about it in the gold coin melt calculator.
Pure gold
Gold without an alloy, described as 24 karat or as 999 to 999.9 fineness. The spot price is for pure gold in bulk. Jewelry is almost never that pure, which is why the formula multiplies by karat ÷ 24. “Pure” on a plated item describes the coat, not the object. Read about it in the 24K gold calculator.
Purity
The gold fraction of the weight. State it as a karat, a percent, or a fineness. On this site a typed purity of 100 or below is a percent, and 101 to 1,000 is fineness out of 1,000. That rule is how the dental calculator accepts an unstamped crown. Read about it in the dental gold calculator.
R
Refiner
A business that melts scrap, separates the gold from the alloy, and sells the resulting metal. Mail-in refiners are the top band on the scrap calculator because refining is their product. The band is an estimate. The selling guide covers how to ship without trusting a slogan. Read about it in the scrap gold calculator.
Refining
The work of turning mixed jewelry into known, saleable gold. It costs money, which is one reason a payout is below melt. Assay, chemicals, labour and the chance the stamp was optimistic all sit in that gap. Melt value pretends the work is already done. Read about it in the methodology.
Rolled gold plate
A bonded layer of gold alloy on a base metal, marked RGP, generally thinner than gold-filled grades such as 1/20. It can look like gold for years and still have little scrap value. Do not put it in a solid-karat pile. The purity chart lists the mark beside GF and GP. Read about it in the gold purity chart.
Rose gold
Gold alloyed with more copper so the colour is warm. The colour is not a karat. An 18K rose band has the same gold fraction as 18K yellow if both stamps are honest. Melt value follows the stamp and the weight, not the blush. Read about it in the 18K gold calculator.
Rhodium
A bright white metal plated over white gold so the surface looks whiter than the alloy. It wears off and is not part of the karat. Do not add it to the gold weight. It is also not a reason to call a yellow-underneath ring “fake.” Read about it in the gold purity chart.
S
Scrap gold
Jewelry or dental metal you are selling for its gold content rather than as an object. Broken chains and lone earrings are the usual case. Scrap value in conversation means either melt or the payout. This site keeps those words apart. Start with how to calculate scrap value. Read about it in the how to calculate scrap value.
Solder
The metal that joins links and ring shanks. It melts at a lower temperature than the jewelry, so it is a different alloy and only partly gold. A ring sized several times carries more solder than a plain chain. Assays can land a little under the stamp because of it. Read about it in the how to calculate scrap value.
Spot price
The reference price of one troy ounce of pure gold for immediate delivery in the wholesale market. Calculators on this site request it from a feed and label the result Live, Sample or Custom. Sample means the feed did not answer. Custom means a person typed a number. None of the three is an offer to buy your jewelry. Read about it in the methodology.
Stamp
The mark punched into the metal: 14K, 750, 916, GF, GP. It is a claim about purity or about a layer. Read the whole mark. The real-gold guide covers stamps that are incomplete or added later. The purity chart decodes the numbers. Read about it in the is my gold real?.
Solid gold
Karat gold through the piece, as opposed to a layer over a base. Solid 14K is still only about 58 percent gold. “Solid” does not mean 24K. If the stamp also says GF or GP, the piece is not solid karat, whatever the shop sign claims. Read about it in the is my gold real?.
T
Tola
A traditional weight in South Asian jewelry. The figure used for modern jewellery conversion is 11.6638038 grams, which is 180 troy grains. Older markets used nearby values. Confirm which tola a seller means before you convert a family note into grams. The weight calculator can take the gram result. Read about it in the gold weight calculator.
Troy ounce
The ounce of precious metals: 31.1034768 grams, or 20 pennyweights. Gold prices are per troy ounce unless a contract says otherwise. It is heavier than the regular ounce (28.349523125 grams) on a food scale. The calculation guide shows the conversion table. Read about it in the how to calculate scrap value.
V
Vermeil
Sterling silver with a gold plating thick enough to meet a trade definition of vermeil. The object is silver plus a coat of gold. Price the silver if you are scrapping it, and do not enter the grams as karat gold. The coat is not a 14K stamp. Read about it in the is my gold real?.
W
White gold
A gold alloy made white with nickel, palladium or other metals, often finished with rhodium plating. The karat stamp still governs the gold fraction. Rhodium is a surface colour, not extra gold. Palladium in the alloy is outside this site’s gold formula. Read about it in the gold purity chart.
Y
Yellow gold
The familiar gold colour from an alloy of gold with silver and copper. Yellow is not a purity. 10K yellow and 22K yellow are far apart in melt value per gram. Use the stamp, then the matching karat calculator. Read about it in the gold purity chart.
Numbers
999
Fineness for 99.9 percent gold, the usual stamp on modern bullion bars and many coins. 999.9 is a step closer to pure. Jewelry marked 24K is in the same neighbourhood. The 24K calculator prices 24 ÷ 24. A 999 coin is a hair under that, and its premium is a separate question. Read about it in the 24K gold calculator.
916
Fineness for 91.6 percent gold, the stamp used for 22 karat jewelry in India, the Gulf and many other markets. Twenty-two divided by 24 is about 91.7 percent. The 22K calculator uses 22 ÷ 24. The purity chart explains the few parts per thousand between the stamp and the fraction. Read about it in the 22K gold calculator.
750
Fineness for 75 percent gold, which is 18 karat. Common on European and fine jewelry. The 18K calculator prices 18 ÷ 24, the same 75 percent. A 750 stamp next to GF is a layer, not solid 18K. Read about it in the 18K gold calculator.
585
Fineness for 58.5 percent gold, the trade stamp for 14 karat. Fourteen divided by 24 is about 58.3 percent, or 583 parts per thousand. Shops still call 585 “14K.” This site’s 14K page uses 14 ÷ 24 and says so. Read about it in the 14K gold calculator.
417
Fineness for 41.7 percent gold, which is 10 karat. In the United States, 10K is the lowest karat that may be stamped and sold as gold. The 10K calculator uses 10 ÷ 24. The piece is gold, with more alloy than gold in each gram. Read about it in the 10K gold calculator.
375
Fineness for 37.5 percent gold, which is 9 karat, marked 9ct in Britain and Australia. Nine divided by 24 is 0.375. A UK hallmark may add office and sponsor marks around that number. Read about it in the 9K gold calculator.
Questions
Is karat the same as carat?
Karat is gold purity out of 24. Carat, for a gemstone, is weight, and one carat is 0.2 grams. British gold marks also use “carat” for purity. Read the sentence around the word before you multiply.
What is the difference between melt value and scrap value?
Melt value is the pure gold at the spot price. Scrap value, in a shop, usually means the payout, which is a percentage of melt. This site shows both and labels the percentage as an estimate.
Why are there two ounces?
The troy ounce is the precious-metal ounce, 31.1034768 grams. The regular ounce is 28.349523125 grams. Prices use the troy ounce. Kitchen scales in ounce mode use the lighter one.
Does 585 mean 14K?
585 means 58.5 percent gold, the stamp used for 14 karat. Fourteen divided by 24 is about 58.3 percent. The trade treats 585 as 14K. The 14K calculator uses 14 ÷ 24.
Where should I start if the stamp says GF?
Start with the gold-filled definition on this page and the gold-filled calculator. GF means a layer, not solid karat. The purity chart lists 1/20 12K GF beside plated marks.
Do these definitions set a price?
No. They explain the words. The calculators estimate melt from weight, purity and the price store. An estimate is not an offer to buy and not an appraisal.
This is a melt-value estimate, not an appraisal or an offer.