palladium price per gram calculator
Palladium is a rare and lustrous silvery-white metal that belongs to the platinum group of elements. It is highly valued for its use in catalytic converters, electronics, dentistry, and jewelry. The value of palladium is determined by its purity and weight.
Understanding Palladium Purity
Palladium purity is measured in parts per thousand. Pd999 (99.9%) is considered pure palladium. Pd950 (95%) is used in fine jewelry, while Pd900 (90%) and Pd500 (50%) are used in various applications including dental alloys and electronics. The remaining percentage may include other metals such as silver, copper, or nickel.
Calculating the Worth of Palladium
To calculate the worth of palladium, you need to know its weight and purity. The price is quoted per troy ounce.
Step 1: Determine the Weight
Use a precise digital scale to weigh the palladium accurately.
Step 2: Determine the Purity
Look for hallmarks such as Pd999, Pd950, Pd900, or Pd500. If unmarked, a professional assay can determine purity.
Step 3: Calculate the Value
Value = Weight (grams) x Purity x Price per Gram
For example, if you have 10 grams of Pd950 palladium and the current price is $53 per gram:
Value = 10 x 0.95 x $53 = $503.50
Market Considerations
Palladium prices can be highly volatile due to supply constraints, as most palladium comes from Russia and South Africa. Industrial demand, particularly from the automotive sector for catalytic converters, significantly impacts pricing.