Coin melt value calculator
A gold coin's melt value is its fine gold content in troy ounces multiplied by the spot price. A Sovereign holds 0.23542 oz of pure gold, worth £746.52 at the 10 October 2026 spot price of £3,171.03. Pick a coin below to see its live melt value in pounds, dollars or other currencies.
Gold coin melt value calculator
Live spot: Loading. Type your own spot price to override it, or clear the box to go back to the live figure. Results are melt values, not dealer offers.
How do you use the melt value calculator?
- Choose your coin from the list. The fine gold content fills in automatically.
- If your coin is not listed, type its fine gold weight in troy ounces. A coin's total weight is not the same thing for 22 carat coins.
- Enter how many coins you have.
- Pick your currency. The live spot price loads, or you can type a price a dealer quoted you.
For jewellery and broken gold sorted by carat, use our scrap gold calculator instead. All our tools are listed on the gold calculators page.
What is the melt value formula?
Melt value = fine gold content (troy oz) x spot price per troy oz x number of coins
The spot price is the live wholesale price for one troy ounce of pure gold. A troy ounce is 31.1035 grams, heavier than the everyday ounce. The fine gold content is the weight of pure gold in the coin after the copper or silver in the alloy is taken out.
This catches many people out. The US Mint's 1 oz American Gold Eagle weighs 33.931 g in total, because it is 22 karat (91.67% gold, 3% silver, the rest copper). Its gold content is exactly 1.0000 troy oz. If you multiplied the full weight by spot, you would overstate its value by about 9%.
How much gold is in popular coins?
| Coin | Fineness | Fine gold (oz) | Fine gold (g) | Melt (GBP) | Melt (USD) |
|---|---|---|---|---|---|
| Sovereign | 916.67 | 0.23542 | 7.3224 | ... | ... |
| Half Sovereign | 916.67 | 0.11771 | 3.6612 | ... | ... |
| Britannia 1 oz | 999.9 | 1.0000 | 31.1035 | ... | ... |
| American Gold Eagle 1 oz | 916.7 | 1.0000 | 31.1035 | ... | ... |
| American Gold Eagle 1/10 oz | 916.7 | 0.1000 | 3.1103 | ... | ... |
| Krugerrand 1 oz | 916.7 | 1.0000 | 31.1035 | ... | ... |
| Gold Maple Leaf 1 oz | 999.9 | 1.0000 | 31.1035 | ... | ... |
| Austrian 100 Corona | 900 | 0.9803 | 30.4907 | ... | ... |
| US $20 Double Eagle | 900 | 0.9675 | 30.0926 | ... | ... |
| French or Swiss 20 Franc | 900 | 0.1867 | 5.8070 | ... | ... |
Live melt values at spot: Loading. Not dealer prices. Modern coin figures come from The Royal Mint, US Mint, Rand Refinery, Royal Canadian Mint and Münze Österreich. The Double Eagle and 20 Franc figures are the historic legal standards for those coins; worn examples may hold slightly less gold. Grams are our conversion at 31.1035 g per troy oz.
Worked examples
| What you have | Sum | Melt value |
|---|---|---|
| 10 Sovereigns | 10 x 0.23542 oz x £3,171.03 | £7,465.24 |
| 1 Half Sovereign | 0.11771 oz x £3,171.03 | £373.26 |
| 1 oz Krugerrand | 1 oz x £3,171.03 | £3,171.03 |
| 1/10 oz Gold Eagle | 0.1 oz x $4,195.60 | $419.56 |
| US $20 Double Eagle | 0.9675 oz x $4,195.60 | $4,059.24 |
Spot prices from gold-api.com at the time of the GoldVetted price check, 10 October 2026.
How does melt value compare with what dealers pay and charge?
Melt value sits between two dealer prices. Dealers sell above it (the premium) and buy back below it (the spread). Our GoldVetted price check, 10 October 2026, shows the gap at real UK dealers, with spot at £3,171.03:
| Coin | Melt value | Cheapest dealer selling price | Hatton Garden Metals buyback |
|---|---|---|---|
| 1 oz Britannia | £3,171.03 | £3,259.95 (Chards, +2.80%) | £3,067.15 (minus 3.28%) |
| Sovereign | £746.52 | £767.48 (Hatton Garden Metals, +2.81%) | £720.90 (minus 3.43%) |
Single-coin prices on dealer product pages, captured 21:13 to 21:15 BST on Saturday 10 October 2026, when the gold market was closed. Hatton Garden Metals' Sovereign was out of stock at the time of the check.
So a seller of a Britannia to that dealer would have received about 97% of melt value, and a buyer would have paid at least about 103%. That round trip of roughly 6% is why short-term trading in coins rarely pays. The gold premiums explained guide covers why premiums vary by coin, and our guide to selling gold coins shows how to get several quotes.
When is a coin worth more than melt value?
Common bullion coins trade close to melt. A coin can be worth more when it is a rare date, a proof (a specially struck collector version), in exceptional condition, or from a small mintage. Equally, damaged, cleaned or holed coins may fetch less than a clean bullion coin. If a coin looks old or unusual, check its date and mint mark before treating it as bullion, and ask a coin specialist if in doubt. Read how to sell gold for where to get fair offers.
Where to buy gold
Cheapest single-item premium we found in each country, 10 and 11 October 2026. Premium means how much more than the value of the gold you pay. Prices change daily, so check the dealer's site before you buy.
| Country | Dealer | What we priced | Premium | Link |
|---|---|---|---|---|
| UK | Chards | 1oz Britannia | 2.80% over spot | Visit site |
| US | SD Bullion | 1 oz Gold Eagle (wire) | 3.33% over spot | Visit site |
| Canada | Gold Stock Canada | 1 oz Maple Leaf (wire) | 1.68% over spot | Visit site |
| Australia | The Perth Mint | 1 oz cast bar | 2.86% over spot | Visit site |
Frequently asked questions
What is the melt value of a gold coin?
Melt value is what the pure gold inside a coin is worth at today's spot price. Multiply the coin's fine gold content in troy ounces by the spot price per ounce. A Sovereign holds 0.23542 oz of pure gold, so at a spot price of £3,171.03 its melt value was £746.52 on 10 October 2026.
Do dealers pay melt value for gold coins?
Usually a little less. On 10 October 2026, Hatton Garden Metals' published buy price for a 1 oz Britannia was 3.28% below spot, and for a Sovereign 3.43% below melt. Pawnbrokers and cash-for-gold shops often pay less, so check melt value before you accept an offer.
Why does a 22 carat coin still contain one ounce of gold?
Coins such as the American Gold Eagle and the Krugerrand are made from a 22 carat alloy, but the mints make them heavier to compensate. The US Mint's 1 oz Gold Eagle weighs 33.931 g but contains exactly 1.0000 troy oz of pure gold. Always use the fine gold figure, not the total weight.
What is the difference between melt value and a coin's price?
Melt value is the gold alone. When you buy, you pay melt value plus a premium for minting, distribution and the dealer's margin. In our October 2026 check, UK dealers charged 2.8% to 7.13% above melt for a 1 oz Britannia. See gold premiums explained.
Is melt value the same as numismatic value?
No. Rare dates, low mintages or very good condition can make a coin worth far more than its gold. For common bullion coins, the price follows melt value closely. If you think a coin may be rare, get it valued by a coin specialist before selling it for its gold.
How accurate is this calculator?
It uses the live spot price from gold-api.com and the fine gold content published by each mint, so the maths is exact for a coin in good condition. Worn older coins may weigh slightly less. Spot prices also differ a little between data providers, and dealers set their own buy prices.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- The Royal Mint: The Sovereign 2027 bullion coin (916.67 fine, 0.235 troy oz pure gold)
- The Royal Mint: The Half-Sovereign 2027 bullion coin (916.67 fine, 0.117 troy oz)
- The Royal Mint: Britannia 2027 1oz gold bullion coin (999.9, 1 troy oz)
- US Mint: American Eagle gold coin specifications (gold content by size, 22 karat)
- Rand Refinery: Krugerrand products (22 carat, 1 oz of pure gold)
- Royal Canadian Mint: Gold Maple Leaf 1 oz (99.99%)
- The Perth Mint: Australian Kangaroo 1oz gold bullion coin (99.99%)
- Münze Österreich: historical gold restrikes (100 Corona fine gold content)
- gold-api.com: live spot price feed used by this calculator
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.