How the portfolio is computed
Every line you enter is normalized to fine metal weight — the pure gold or silver content — using the product presets or your own figure. Quantities multiply through, cost basis sums what you paid, and melt value applies the spot prices you enter to each metal bucket. From those totals the calculator derives the numbers that actually describe your position:
- Unrealized P/L — melt value minus cost basis, in dollars and percent.
- Average premium paid — cost basis versus melt across everything. Physical metal almost always costs more than its melt, so this number being positive is normal; what matters is its size.
- Liquidation at bid — what a dealer paying your assumed bid percentage of spot would hand you for the whole stack. This is the walk-away number; P/L versus melt is not.
Fine weight: the only fair denominator
Products mix alloys, so gross weight is meaningless across a portfolio. A 1-ounce Gold Krugerrand weighs about 1.09 troy ounces of 22-karat alloy but contains exactly 1 troy ounce of pure gold — it counts as 1 ozt fine here. A $1-face lot of circulated 90% US silver counts as 0.715 ozt. Government coins, private bars, fractional sizes and junk silver all reduce to the same currency: fine ounces of metal. That is why the presets carry a fine-weight figure, and why a custom holding asks for fine content rather than gross weight.
Limitations
- Melt value only — collector value, jewelry craftsmanship and stones are not considered.
- Spot prices are entered manually (defaults dated 2026-11-01); there is no live feed.
- The bid percentage is an assumption, not a quote; real spreads vary by dealer and lot size.
- Everything is computed in your browser from your inputs — nothing is saved or transmitted.
- This is a bookkeeping tool, not investment advice. It has no opinion on whether precious metals belong in your plan — for that, talk to a qualified financial professional.
Sources & methodology
- Preset fine weights: one troy ounce fine for 1-ozt gold and silver coins/bars; 0.715 ozt for worn $1 face of 90% US silver (trade convention).
- Coin alloy example (Krugerrand 22K): South African Mint specifications.
- Default spot prices: Kitco quotes, as of 2026-11-01, shown only as editable input defaults.
- All aggregation math is verified by hand-computed vectors in scripts/verify-metals.mjs (37 checks).
Frequently asked questions
How do I track gold and silver holdings in one place?
List each product you own — coins, bars, or face-value lots of junk silver — with the quantity and what you paid. The calculator converts every line to fine metal weight (pure gold or silver content), then totals cost basis, current melt value, and unrealized gain or loss by metal. Mixing products with different fineness works fine because everything is normalized to fine weight.
What is fine weight, and why does it matter for a bullion portfolio?
Fine weight is the pure precious-metal content of an item, as opposed to its gross weight. A 1-ounce Gold Krugerrand, for example, weighs about 1.09 troy ounces total because it is 22-karat alloy, but contains exactly 1 troy ounce of pure gold. Tracking fine weight is the only way to add up different products correctly, which is what this calculator does behind the scenes.
How is my average premium paid calculated?
Total cost basis across all holdings, minus current melt value, divided by melt value. A positive number means you paid above melt on average — typical, since almost all physical metal sells at some premium. Watch how it interacts with the gain/loss figure: if spot is flat but your portfolio shows a loss, that difference is mostly the premium you paid that resale won't return.
Why does my portfolio show a loss even though spot prices rose?
Because you bought at a premium. Suppose silver rose since your purchase but you paid well above melt for coins: the gain in metal value can still be smaller than the premium you paid, so your position is underwater relative to cost. The resale reality is harsher still — dealers bid below spot — which is why the calculator also shows the liquidation value at your bid ratio.
Is this calculator investment advice?
No. It is a bookkeeping tool: it computes melt value, cost basis, and gain or loss strictly from the numbers you enter, with no opinion on whether owning precious metals suits you. Nothing here recommends buying or selling anything — for that, talk to a qualified financial professional.