Scrap Platinum Calculator
Platinum Melt Value Calculator
$
Price updates automatically every 60 seconds
Calculate your platinum's value
Last updated: 6:39 AM UTC · Prices refresh every 60 seconds
Platinum Melt Value Calculator
Price updates automatically every 60 seconds
| Platinum Type | Per Troy Ounce | Per Gram | Per Pennyweight |
|---|---|---|---|
| .999 Pure Platinum | $2,045.57 | $65.77 | $102.28 |
| 950 Platinum | $1,945.24 | $62.54 | $97.26 |
| 900 Platinum | $1,842.86 | $59.25 | $92.14 |
| 850 Platinum | $1,740.48 | $55.96 | $87.02 |
Prices update every 60 seconds based on the live platinum spot price.
See a full breakdown including per-kilogram prices on our platinum scrap prices page.
Figuring out what your scrap platinum is worth takes three numbers: the weight, the purity, and the current spot price.
Weigh your platinum on a digital scale. A jeweler's scale accurate to 0.01 grams gives the best results. Kitchen scales work for rough estimates.
Identify the purity. Look for a hallmark stamp on the piece. Platinum jewelry is typically stamped Pt950, Pt900, 950, 900, or 850. If there's no stamp, a jeweler or precious metals dealer can test it.
Apply the formula: Weight (in troy ounces) × Spot Price × Purity = Melt Value. One troy ounce equals 31.1035 grams. So if you have a 10‑gram platinum ring stamped 950 and the spot price is $2,300 per troy ounce: 10 ÷ 31.1035 = 0.3215 troy ounces. Then 0.3215 × $2,300 × 0.95 = $702.09 melt value.
Or enter your numbers into the for an instant answer. For general platinum valuation, try our platinum value calculator.
999 Platinum (99.9% pure) is used for investment‑grade bullion bars and some coins. It carries the highest melt value per ounce.
950 Platinum (95% pure) is the standard for fine jewelry worldwide. Most platinum engagement rings and wedding bands are 950. The remaining 5% is usually ruthenium or cobalt for durability.
900 Platinum (90% pure) appears in some jewelry and older pieces. Also called "Pt900." Common in Japanese and some European platinum jewelry.
850 Platinum (85% pure) is the minimum purity that can legally be called "platinum" in most countries. Found in some vintage jewelry and lower‑cost platinum pieces.
Look for these stamps on rings (inside the band), necklace clasps, bracelet catches, and the backs of earrings:
Do not confuse platinum stamps with white gold. White gold will be stamped 14K, 18K, 585, or 750. If you see those numbers, it's gold, not platinum.
Platinum is the densest and most valuable of the three. At current prices, platinum trades above $2,000 per troy ounce. White gold (depending on karat) is worth $1,500–3,000+ per troy ounce of pure gold content. Silver is around $30–90 per troy ounce.
The weight difference is the easiest way to tell them apart at home. Platinum has a density of 21.45 g/cm³, gold is 19.32 g/cm³, and silver is 10.49 g/cm³. A platinum ring will feel substantially heavier than a silver ring of identical size.
| Item | Typical Weight |
|---|---|
| Men's wedding band | 8–15 grams |
| Women's wedding band | 3–7 grams |
| Engagement ring setting | 4–8 grams |
| Necklace/chain | 10–30 grams |
| Earrings (pair) | 2–6 grams |
| Bracelet | 15–40 grams |
The weight test is the fastest check. Platinum is extremely dense. Pick up the piece and compare it to a similarly sized gold or silver item. If it feels surprisingly heavy, it could be platinum.
The magnet test rules out many fakes. Platinum is not magnetic. If a magnet sticks, it's not platinum.
The scratch test can help but is not definitive. Platinum scratches to a dull gray. White gold scratches to reveal yellow gold underneath (since the rhodium plating wears off).
For a definitive answer, use an acid test kit or visit a jeweler with an XRF (X‑ray fluorescence) analyzer. An XRF gives an exact purity reading in seconds.
Get the current spot price before you sell. Check the live platinum prices on this site so you have a baseline for negotiations.
Get quotes from at least three buyers. Prices vary between jewelers, pawn shops, online refiners, and local precious metals dealers. Dealers typically pay 80–90% of melt value for clean platinum scrap.
Keep platinum separate from gold and silver. Dealers test each piece individually, but mixing metals slows the process and can lead to lower offers.
Consider the piece before scrapping it. Designer platinum jewelry from brands like Tiffany, Cartier, or Harry Winston may be worth more sold intact than melted down. Get an appraisal first.