The platinum scrap calculator finds the value of platinum scrap from its weight, purity and today's platinum (Pt, atomic number 78, CAS 7440-06-4) spot price. It prices platinum (Pt), element 78 at the live spot value, before any buyer's refining or assay deduction.
| Metal | USD per troy ounce | USD per gram |
|---|---|---|
| PlatinumPt | $1,711.00 | $55.01 |
Spot prices from Metals-API, refreshed every minute; values per gram, kilogram and other units are converted from the per-ounce quote. How our prices are sourced
Platinum scrap calculator
Manual price input- Fine platinum
- …
- Melt value
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- Estimated payout after deductions
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Enter a weight and purity. Value = weight × fineness ÷ 31.1034768 g per troy ounce × price. A buyer pays on assayed fine content, less its own charges; this is an estimate, not an offer.
How to Use the Platinum Scrap Calculator#
Using the calculator takes three inputs: weight, weight unit and purity, then multiplies them against the live platinum price. Pick a unit and a purity mark from Pt999 down to Pt850, or a custom percentage, and the widget converts the input to grams before pricing it, with a button straight to a cash quote request, alongside DailyPlatinum's other platinum calculators and converters.
Weight, Unit and Purity: The Three Inputs#
The calculator accepts weight in grams, troy ounces, pennyweight, tola, kilograms and avoirdupois pounds, converting each to grams before pricing. The six units are listed below.
- Grams (g), the calculator's base unit.
- Troy ounces (oz t), the bullion trade's standard unit.
- Pennyweight (dwt), one twentieth of a troy ounce.
- Tola, the South Asian trade unit.
- Kilograms (kg), for bar and industrial lots.
- Avoirdupois pounds (lb), the everyday US and UK pound.
Each unit converts to grams by an exact factor, shown below.
| Unit | Grams per unit | Source |
|---|---|---|
| Gram (g) | 1 | Base unit |
| Troy ounce (oz t) | 31.1034768 | LBMA Glossary |
| Pennyweight (dwt) | 1.55517384 | 1/20 troy ounce (LBMA Glossary) |
| Tola | 11.6638038 | Regulation VII of 1833 (Wikipedia, Tola) |
| Kilogram (kg) | 1,000 | SI base multiple |
| Avoirdupois pound (lb) | 453.59237 | 7,000 grains, exact |
How Platinum Scrap Value Is Calculated#
Platinum scrap value is the weight of pure platinum in an item, multiplied by the live spot price, before any buyer deduction. That spot price is the same feed shown on platinum price today, applied to fine weight, not gross weight.
Melt Value Formula: Weight × Purity × Spot Price#
The melt value formula is weight in troy ounces × purity fraction × platinum price per troy ounce, using 1 troy ounce = 31.1034768 g.
Melt value (USD) = weight (troy oz) x purity (fraction) x platinum price (USD per troy oz)
1 troy oz = 31.1034768 g exact (LBMA Glossary)
A gram entry first divides by 31.1034768 to reach troy ounces, then multiplies by purity and price. For a hypothetical 10 g item at Pt950, the fine weight is 10 x 0.95 = 9.5 g, or 0.3054 troy oz.
Platinum Purity Marks: Pt999, Pt950, Pt900 and Pt850#
Platinum purity is stamped as a fineness mark such as Pt999, Pt950, Pt900 or Pt850, showing platinum content in parts per thousand, listed below.
| Mark | Platinum content | Where used |
|---|---|---|
| Pt999 | 99.9% | Fine bars and refined sponge |
| Pt950 | 95.0% | Standard bridal alloy (Pt950/Ru, Pt950/Ir); the US threshold for an unqualified "platinum" mark |
| Pt900 | 90.0% | UK hallmark standard; volume mid-market grade in Japan |
| Pt850 | 85.0% | UK's legal hallmarking minimum; Japan's lowest recognized platinum grade |
The UK's Hallmarking Act sets 850 parts per thousand as the legal minimum fineness for platinum (Assay Office London). The US test differs: under 16 CFR § 23.6 of the FTC's jewelry guides, a seller may call an item "platinum" unqualified only at 950 or higher, marking anything from 850 to 950 with a number, such as "900Pt." Jewelry alloys pair platinum with a second metal at 950, Pt950/ruthenium and Pt950/iridium for bridal, Pt950/cobalt for casting, while LPPM Good Delivery plate requires at least 99.95%, the same purity Johnson Matthey quotes for sponge.
Why a Buyer's Offer Is Lower Than Melt Value#
A buyer's cash offer is lower than melt value because refining, assay and profit margin come out of the price before payout. Assay confirms the item's platinum content and refining separates it from alloy metals, before the buyer's margin applies on top.
That thin market is also why platinum is hard to sell compared with gold, since dealers quote wider bid-ask spreads and pay the bid, not the mid-price. No single deduction applies across every buyer, so melt value is a starting reference, not a guaranteed payout.
What Counts as Platinum Scrap#
Platinum scrap on this calculator covers jewelry, dental alloys, bars, sponge and laboratory ware, not catalytic converters, listed below.
- Jewelry: rings, bands and bridal sets stamped Pt950, Pt900 or Pt850.
- Dental alloys: platinum-containing crowns, bridges and partials, usually unmarked.
- Bars and sponge: refined bullion and industrial feedstock at 99.9% to 99.95% purity.
- Laboratory ware: platinum crucibles, electrodes and wire, valued on assayed content.
Catalytic converters carry platinum, palladium and rhodium bonded to a ceramic substrate, priced separately on the catalytic converter PGM value calculator.
Platinum Jewelry, Dental, Bar and Lab Scrap#
Platinum jewelry scrap is priced at its stamped fineness, while dental and lab scrap needs an assayed platinum content because no fineness mark exists. A Pt950 ring carries 95% fine platinum by definition, the fineness selling platinum jewelry for scrap prices directly.
Dental alloys mix platinum with palladium, gold or silver in proportions only a lab certificate can confirm, per dental scrap value.
Laboratory crucibles, electrodes and wire run 99.9% platinum or higher new, but wear still calls for an assay, covered under platinum labware and crucible scrap.
Sell, Compare and Convert Platinum Scrap#
Platinum scrap sellers use the calculator's result as a starting point for comparing buyer offers. The wider scrap platinum, palladium and rhodium market covers catalytic converters and industrial residues beyond this calculator's scope.
Selling Platinum Scrap#
Selling platinum scrap gets the best return from a buyer that discloses its assay method and refining deduction. That disclosure lets the offer compare against this calculator's melt value rather than an unexplained lump sum, a mechanic scrap platinum price explains further.
Other Platinum Calculators#
Related calculators cover plain platinum value, catalytic converters and PGM baskets, listed below.
- Plain platinum value, without a scrap discount: platinum value calculator.
- Catalytic converters, priced on contained metal: catalytic converter PGM value calculator.
- Multi-metal 4E and 6E baskets: PGM basket price calculator.
Platinum Scrap Calculator FAQ#
How much is scrap platinum worth?#
Scrap platinum is worth its platinum content at the live spot price, minus the buyer's refining and assay deduction described above. A Pt950 item's platinum content is 95% of its gross weight, and unmarked scrap needs an assay to establish that content first.
How much is 1 gram or 10 grams of platinum worth?#
One gram of pure platinum is worth $55.01 at 5 Oct 2026, 15:35 UTC; ten grams are worth ten times that, or $550.10. Scrap below Pt999 is worth that per-gram price times its fineness fraction, not the full figure.
How much is 1 pound of platinum worth?#
One avoirdupois pound of pure platinum equals 14.5833 troy ounces (453.59237 g divided by 31.1034768 g), worth 14.5833 times $1,711.00. Scrap rarely reaches a full pound of pure metal, so the calculator scales the same multiplication to whatever fine weight results.
Is scrap platinum worth anything at low purity?#
Platinum scrap below 850 parts per thousand, the UK's minimum legal platinum fineness, still has value but needs an assay before sale. Below that mark platinum is usually alloyed with copper or nickel rather than the standard bridal metals, and a refiner prices it on assayed content.