gold_karat_value

Estimate gold melt value from karat, weight, and a 24K price per gram.

Jewelry and scrap workflows usually start from the same three inputs: how heavy the piece is, what karat stamp it carries, and what fine gold is trading at today. This library keeps that math in one place so an Elixir app or Mix script can reuse the same rounding rules.

It does not call a price API. You pass in the 24K price you already have (spot feed, cached quote, or a number typed by the user).

Install

def deps do

  [

    {:gold_karat_value, "~> 0.1.0"}

  ]

end

Usage

{:ok, melt} = GoldKaratValue.melt_value(10, :gram, 14, 65)

IO.puts("14K melt: $#{melt.total} ($#{melt.per_gram}/g)")



{:ok, scrap} = GoldKaratValue.scrap_value(10, :gram, 14, 65, 0.85)

IO.puts("85% scrap offer: $#{scrap.scrap}")

Weight units are :gram, :pennyweight, :troy_ounce, :troy_pound, and :kilogram. Karat must be between 0 and 24 (including fractional stamps such as 21.6).

Formula

  1. Convert the entered weight to grams.
  2. Purity ratio = karat ÷ 24 (14K ≈ 0.5833).
  3. Price per gram at that karat = 24K price per gram × ratio, rounded to cents.
  4. Melt value = grams × that per-gram price, rounded to cents.
  5. Scrap estimate = melt value × a payout ratio between 0 and 1 (for example 0.50 at a pawn shop, 0.85 for some online buyers).

The same cent-rounding is applied to per-gram, per-troy-ounce, and per-troy-pound quotes so table output stays consistent with a UI.

When you need live prices

This library stops at the arithmetic. If you want the same karat and unit conversion with a regularly updated spot price in the browser, there is a scrap gold calculator that applies these ratios without an account.

License

MIT