Enter the weight, purity, and market price into the calculator to determine the value of your platinum scrap.

## Platinum Scrap Value Calculation Formula

The following formula is used to calculate the value of platinum scrap.

Total Value = Weight * (Purity / 100) * Market Price

Variables:

- Total Value is the estimated value of the platinum scrap ($)
- Weight is the mass of the platinum scrap (grams or ounces)
- Purity is the percentage of platinum in the scrap (%)
- Market Price is the current market price of platinum ($ per gram or ounce)

To calculate the total value, multiply the weight by the purity percentage (expressed as a decimal) and then by the market price.

## What is Platinum Scrap Calculation?

Platinum scrap calculation refers to the process of determining the market value of platinum scrap based on its weight, purity, and the current market price of platinum. This calculation is essential for individuals and businesses looking to sell platinum scrap, ensuring they receive a fair and accurate price.

## How to Calculate the Value of Platinum Scrap?

The following steps outline how to calculate the value of platinum scrap using the given formula:

- First, determine the weight of the platinum scrap in grams or ounces.
- Next, determine the purity percentage of the platinum scrap.
- Determine the current market price of platinum per gram or ounce.
- Use the formula from above: Total Value = Weight * (Purity / 100) * Market Price.
- Finally, calculate the total value by plugging in the values.
- After inserting the variables and calculating the result, check your answer with the calculator above.

**Example Problem:**

Use the following variables as an example problem to test your knowledge:

Weight = 100 grams

Purity = 90%

Market Price = $50 per gram

## FAQ

**1. What is the significance of platinum purity?**

Purity indicates the percentage of pure platinum in the scrap. Higher purity means higher value as the scrap contains more platinum.

**2. How often should I use the platinum scrap calculator?**

It’s helpful to use the platinum scrap calculator whenever there’s a change in the market price of platinum or if you want to estimate the value of different platinum scrap items.

**3. Can this calculator be used for different forms of platinum?**

Yes, you can adjust the weight and purity fields to match any form of platinum scrap, including jewelry, industrial scrap, and more.

**4. Is the calculator accurate?**

The calculator provides an estimate of the value based on the inputs provided. For exact figures, it’s best to consult a professional appraiser or a precious metal dealer.