Platinum Melt‍
Value Calculator

The current platinum price per gram is displayed at the top of this page and updates daily. Platinum spot price is quoted per troy ounce — divide by 31.1035 to get the price per gram. For platinum 950, multiply by 0.95 to get the effective price per gram of your piece.

On jewelry, hallmarks are usually inside a ring band, on clasps, or the back of a pendant. Look for PLAT, PT, PLATINUM, or a number like 950, 900, or 850. If a piece is marked only "Platinum" or "Plat" with no number, US standards require it to be at least 95% pure. No stamp? A jeweler can test the metal — platinum's high density is a strong tell.

No. Platinum is a naturally white, dense precious metal that is typically 95% pure in jewelry. White gold is yellow gold alloyed with white metals and usually plated with rhodium to look bright — and that plating wears off over time. Platinum is rarer, heavier, more durable, and hypoallergenic, which is why it commands a premium for fine settings.

Modern platinum bullion coins include the American Platinum Eagle (.9995), the Canadian Platinum Maple Leaf (.9995), the Australian Platinum Koala, and the Isle of Man Noble. The Russian Empire also struck circulating platinum coins between 1828 and 1845, which are now valuable collector items. Bullion coins typically sell for a premium over their raw melt value.

A pennyweight (dwt) equals 1/20 of a troy ounce, or approximately 1.555 grams. It is commonly used by US jewelers when quoting scrap precious-metal prices. One troy ounce equals 20 pennyweights. Multiply a per-pennyweight price by 20 to compare it to a per-troy-ounce price.

Platinum-plated (or platinum overlay) items are base metal — often brass or silver — coated with a thin layer of platinum. The platinum content is negligible, so these pieces have little to no melt value and most refiners will not buy them at platinum prices. Don't confuse plated costume jewelry with solid platinum, which is always hallmarked PLAT, PT, or 950.

The calculator uses the daily platinum spot price and applies the standard formula: weight in grams x purity x spot price per gram. The result is the theoretical melt value of the pure platinum content. In practice, buyers pay roughly 70–90% of melt after deducting refining costs and margin, and platinum's resale market is thinner than gold's. Use the melt value as your benchmark when comparing offers — and remember that signed or gem-set platinum jewelry is often worth far more than melt.