Platinum Scrap Calculator

Why Purity Stamps Matter

Platinum jewelry is almost never sold at 100% purity — it's alloyed with other metals for durability, and the stamp tells you exactly how much is really platinum. "950" means 95% platinum by weight (the standard for fine platinum jewelry), "900" means 90% (common on older or mid-range pieces), and "850" means 85% (entry-level platinum jewelry, sometimes called PT850). Investment-grade bars and coins are typically 999, essentially pure. Scrap without a visible stamp is harder to value with confidence — a jeweler or refiner can test it, but guessing the purity risks over- or under-valuing it significantly.

How to Use This Calculator

Weigh your item in grams, select the purity stamp marked on it (check the inside of a ring band or the back of a pendant — it's usually small), and enter the current platinum spot price, quoted per troy ounce by any bullion or metals-price site.

How We Calculate It

Melt value = weight (grams) ÷ 31.1035 (grams per troy ounce) × purity × spot price. For example, a 10 gram piece stamped 950 at a $950/oz spot price: 10 ÷ 31.1035 = 0.3215 oz, × 0.95 purity = 0.3054 oz of pure platinum, × $950 = $290.13 melt value.

A Few Notes

This is melt value — what the pure platinum content is worth at spot price — not what a buyer will actually pay. Refiners and scrap buyers typically pay some percentage below melt value to cover their own refining costs and margin, and that percentage varies a lot by buyer. It's worth getting quotes from more than one buyer before selling, and worth checking whether a piece has more value intact (as jewelry, or to a collector) than it would melted down.