Estimate platinum value
No market price is fetched. Enter a dated US-dollar price per troy ounce from a source you choose.
Do not use gross catalytic-converter weight in this tool. Platinum-group metals are present in catalyst coatings and must be identified through appropriate specialist data, sampling or assay. The calculator is designed for material with a known or defensible platinum weight and purity.
Platinum calculator formula
Fine platinum grams = gross alloy grams × (purity percentage ÷ 100) Benchmark value = fine platinum grams × (price per troy oz ÷ 31.1034768) Modeled offer = benchmark value × (payout percentage ÷ 100)The calculator converts all supported weight units to grams first. It preserves full internal precision and rounds only the displayed result.
How to calculate platinum value
- Choose a dated platinum price in US dollars per troy ounce and identify whether it is bid, ask, midpoint, benchmark or settlement.
- Weigh only the platinum alloy where possible. Gemstones and unrelated components are not platinum weight.
- Choose grams, troy ounces or another correctly identified weight unit.
- Convert fineness to percentage: 950 becomes 95%, 900 becomes 90% and 850 becomes 85%.
- Start with 100% payout to see theoretical benchmark value, then model transaction deductions separately.
Hypothetical example
Consider 10 grams of verified 950 platinum, a hypothetical reference price of $1,000 per troy ounce and an 80% payout assumption. These are example inputs, not current prices or a typical dealer rate.
- fine platinum weight: 10 g × 95% = 9.5 g;
- fine troy ounces: 9.5 ÷ 31.1034768 = about 0.3054 oz t;
- benchmark value: about $305.43;
- modeled offer: about $244.35.
Gross weight versus platinum weight
A jewelry scale reports everything placed on it. Stones, springs, non-platinum findings, dirt and packaging must not be treated as platinum alloy. Even within an alloy, fineness tells you the share that is platinum. Accurate estimates therefore require both a suitable net metal weight and a defensible purity.
Reading platinum fineness
A parts-per-thousand mark can be converted directly: divide it by 10 to obtain percent. Thus 999.5 is 99.95%, 950 is 95%, 900 is 90% and 850 is 85%. However, markings and accompanying symbols vary by jurisdiction, and a mark alone cannot prove composition. Plated pieces and counterfeit marks require particular caution.
Why an offer may differ from benchmark value
- the source price may be an ask or midpoint rather than a buying bid;
- the measured weight may include stones or non-platinum parts;
- purity testing may differ from the stamped fineness;
- the buyer may charge for melting, assay, refining or settlement;
- a small or unusual lot may be harder to resell or process;
- a signed or collectible item may be worth more intact than as metal.
Ask for a quote that identifies net weight, tested fineness, reference price, payable percentage, each fee and settlement time.
Calculator questions
Can I enter a platinum price per gram?
The current tool expects a price per troy ounce. Multiply your per-gram reference by 31.1034768 first, or use the platinum conversion guide.
Should I choose ordinary ounce or troy ounce?
Choose the unit actually used by the scale or document. They are different: an ordinary ounce is 28.349523125 g and a troy ounce is 31.1034768 g.
Is benchmark value the same as melt value?
Here it is a theoretical contained-metal value at the entered quote. Actual melt, assay and settlement may change payable content and proceeds, so the result is not a guaranteed melt return.
Can platinum jewelry be worth more than this?
Yes. Maker, design, condition, gemstones, rarity and retail demand can produce resale value beyond metal content. Seek an appropriate jewelry or auction appraisal before destroying a potentially valuable piece.