Gold Coin Melt Value Calculator

The single most important number for any gold coin is its actual gold content — the pure gold it holds, measured in troy ounces. That number, multiplied by the current spot price, is the melt value. The mint publishes this figure for every bullion coin, so unlike scrap jewelry, there's no weighing or guessing involved.

The common mistake is to use a coin's gross weight instead of its gold content. A 1 oz American Gold Eagle weighs 33.93 grams — noticeably more than a troy ounce (31.10 grams) — because it's a 22-karat alloy with silver and copper added for hardness. But it still contains exactly one troy ounce of pure gold. Using the gross weight would overstate its melt value by about 9%.

To value gold by weight rather than by coin — for scrap, jewelry, or a bar — use the gold calculator. To convert between troy ounces, grams, and pennyweight, see the troy ounce converter.

Melt value is the floor, not the price. For a modern bullion coin — a Gold Eagle, Krugerrand, Maple Leaf, or Buffalo minted for investment — the market price stays close to melt, a few percent above it. These coins are valued almost entirely for their gold, so melt value tells you what they're really worth.

Numismatic (collector) coins are different. Their value comes from rarity, age, mintage, and condition — not just gold content. A pre-1933 $20 Double Eagle contains about $3,987.45 of gold, but depending on date and grade it can sell for hundreds of dollars more. The same is true of older British Sovereigns and European fractional coins like the French and Swiss 20 Franc. For these coins, melt value is only the starting floor.

Not sure whether a coin is even solid gold? Gold-plated replicas and "tribute" coins are common. See how to tell if gold is real for home tests and what a jeweler can confirm.

You rarely buy a gold coin at exactly its melt value. Dealers charge a premium over spot to cover minting, distribution, and their margin. The premium is largest, as a percentage, on the smallest coins — a 1/10 oz coin costs far more per ounce of gold than a 1 oz coin — and smallest on large bars.

These are general 2026 ranges, not guarantees. The key thing to understand: when you sell common bullion back, you generally receive close to melt value — the premium you paid on the way in is usually not recovered. So melt value is the realistic benchmark for what a coin is worth to you as a seller. For how gold bars are priced by size, see how much a gold bar is worth.

Genuine bullion coins are struck to tight tolerances, so a quick check against published specifications catches most fakes. A real coin should match its gross weight, diameter, and thickness — counterfeits are almost always off on at least one, because base metals don't share gold's density.

• Weigh it. A 1 oz Gold Eagle should weigh 33.93 g; a Krugerrand 33.93 g; a Maple Leaf, Buffalo, or Philharmonic close to 31.1 g. A jewelry scale accurate to 0.01 g (around $10–15) is ideal. A coin that reads light is a red flag.
• Measure the diameter and thickness. Digital calipers cost about $10. Fakes are often made too thick to reach the correct weight in a cheaper alloy, so a coin that's the right weight but wrong dimensions is suspect.
• Try the magnet test. Gold is not magnetic. A coin that's attracted to a magnet contains ferrous metal and is not solid gold. Passing this test doesn't prove authenticity, but failing it is conclusive.
• Use the ping / ping test. Struck gold coins produce a long, high ring when balanced on a fingertip and tapped. A dull thud suggests a base-metal core.
• Check the details. Compare the design, edge lettering or reeding, and strike quality to reference photos from the mint. Blurry details and incorrect fonts are common on replicas.