Bullion Premium

Web calculator

Free Bullion Premium Calculator

Calculate the premium over melt value for a bullion coin or bar using its price, troy-ounce weight, purity, and spot price.

Enter the item details

Use the same currency for spot price and item price. Values are shown in US dollars, and spot price and weight must be entered per troy ounce.

Enter a spot price yourself; this calculator does not fetch live prices.

This is the entire item's weight, before adjusting for purity.

Examples: .999, .925, .900, or 999, 925, 900.

Enter the total price of the coin or bar in US dollars.

How the bullion premium is calculated

First, the calculator multiplies total item weight by normalized purity to find fine metal weight. It then multiplies spot price by fine metal weight to estimate melt value.

Fine metal weight = total weight × normalized purity

Melt value = spot price × fine metal weight

Premium amount = item price − melt value

Premium percentage = premium amount ÷ melt value × 100

Hypothetical worked example

These values are illustrative and are not current market prices. Suppose spot price is $30 per troy ounce, total item weight is 1 troy ounce, purity is .999, and the item price is $35.

  1. Fine metal weight is 1 × .999 = 0.999 troy oz.
  2. Melt value is $30 × 0.999 = $29.97.
  3. Premium amount is $35 − $29.97 = $5.03.
  4. Premium percentage is $5.03 ÷ $29.97 × 100, or approximately 16.78%.

Understanding purity and fineness

Purity describes the share of an item's weight that is the precious metal. You can enter it as a decimal, such as .999, or as fineness out of 1000, such as 999. Both entries mean 99.9% purity. Values greater than 1 are divided by 1000 before calculation.

Total weight and troy ounces

Total item weight includes all material in the item. Fine metal weight is the portion remaining after purity is applied. Enter weight in troy ounces, the unit commonly used for precious metals; this calculator does not convert grams or regular ounces.