Gold Price per Pennyweight Calculator

For a weight in pennyweight, melt value = weight in dwt × purity × spot price per troy ounce ÷ 20. The unit conversion comes first; purity determines what share of the measured alloy is gold. For 18K use 0.75, for 14K use 14 ÷ 24, and for 10K use 10 ÷ 24. The 24K setting uses the site’s documented 999-fine convention.

For example, 6 dwt of 18K jewellery contains 6 × 0.75 = 4.5 dwt of fine gold, or 0.225 troy ounces. Its melt estimate is 0.225 multiplied by the chosen spot price. This example uses no fixed dollar rate, so it remains valid when the market changes. Stones and other non-gold parts must be accounted for before using the weight.

Multiply a price per gram by 1.55517384 to get the equivalent price per dwt. Divide a price per dwt by the same factor to express it per gram. Keep the currency and purity unchanged while converting. A 14K quote cannot be compared directly with an 18K quote even after their weight units match.

As an illustrative quote, $50 per gram equals about $77.76 per dwt. These are the same rate for the same material, not two different levels of payment. If a buyer offers a total rather than a unit price, divide that net offer by the payable weight to find the implied rate, then compare it with another written quote on the same basis.

Pennyweight belongs to the troy weight system: one dwt is 24 grains, and 20 dwt makes one troy ounce. The ordinary ounce used on kitchen and postal scales belongs to a different system and weighs less. A scale that offers an oz button and a dwt button may also offer ozt; read its documentation instead of assuming every ounce means a troy ounce.

Use the gold weight converter to check a reading before pricing an item. Keep each karat group separate in a mixed scrap lot and retain the original unit on your notes. If a buyer changes units during a quote, ask for both the original weight and the conversion. The conversion is fixed; testing deductions and the percentage a buyer pays are separate questions.