Platinum Price Calculator: Value by Weight and Fineness
Work out the melt value of platinum from its weight, its fineness, such as 950 or 900, and a spot price you type per gram or per troy ounce. Exact troy-ounce factors.
Type the weight and today's spot price from a quote you trust. No price is filled in, and this page fetches no prices.
About the Platinum Price Calculator
The Platinum Price Calculator works out the melt value of platinum from its weight, its fineness and a spot price you type. It opens with Platinum selected and the fineness set to 950, the most common mark on platinum jewellery. Presets cover 999, 950, 900 and 850. Weights can be grams, troy ounces or pennyweights, and the spot price can be per gram or per troy ounce.
Platinum purity is always given as fineness, the parts of pure platinum per thousand, so no karat option is shown. The page fetches no prices: type a current spot price from a quote you trust. The troy ounce and pennyweight are converted with their exact definitions, and every typed decimal is held exactly, so the value rounds only once, half up, to the cent. A value that lands exactly on half a cent, such as 154.375, rounds up to 154.38.
How to use it
Steps
- Type the weight and choose its unit.
- Type the fineness or press a preset such as 950.
- Type the spot price and choose Per gram or Per troy ounce.
Reading the hallmark
Platinum jewellery is stamped with its fineness, such as 950, PT950 or PLAT. A ring marked 900 is 90 percent platinum, usually mixed with iridium or ruthenium.
The formula
With a weight in grams, a fineness and a spot price per gram:
A price per troy ounce is divided by 31.1034768 to get the price per gram.
Worked examples
- 5 g of 950 platinum at 32.50 a gram. , which rounds up to 154.38.
- A 1 oz t bar of 999.5 platinum at 1,000.00 an ounce. .
- 8 g of 900 platinum at 1,000.00 an ounce. .
- 10 dwt of 850 platinum at 1,000.00 an ounce. Half an ounce, so .
Assumptions
The result is melt value at the spot price you typed. Refiners and dealers usually pay less, and finished jewellery sells for more. Check a current quote; the result is an estimate. The full Gold Price Calculator values gold by karat too, and the Mass Converter converts weights.
Privacy
Nothing is uploaded; every calculation runs in your browser and never leaves your device. The weights and prices you type stay on this page and are gone when you close or reload it.
Frequently asked questions
How do I work out the value of platinum?
Multiply the weight by the fineness divided by 1,000 and by the spot price for the same unit. 5 g of 950 platinum at 32.50 a gram is 5 × 0.95 × 32.5 = 154.375, which rounds to 154.38.
What does 950 mean on platinum jewellery?
It is the fineness: 950 parts of platinum in every 1,000, or 95 percent. It is the most common mark on platinum rings. Other marks include 999, 900 and 850.
How many grams are in a troy ounce of platinum?
Exactly 31.1034768 grams, the same troy ounce used for gold and silver. If your quote is per troy ounce, choose Per troy ounce and the calculator divides by that exact factor.
Why must I type the spot price?
Platinum prices change through the day, and this page fetches no prices. Copy a current spot price from a quote you trust, per gram or per troy ounce.
Is melt value what I will be paid?
No. Melt value is the worth of the pure metal at the spot price. Refiners and dealers pay less, and finished jewellery sells for more. Treat the result as an estimate and get a current quote.