Palladium Calculator

Palladium melt value is the raw worth of the pure palladium content in any item, whether a ring, dental alloy, or coin. The calculation: convert the weight to troy ounces, multiply by the palladium purity, and multiply by the current palladium spot price. This calculator does all three steps automatically.

For example, a Pd950 palladium wedding band that weighs 6 grams contains 6 × 0.950 = 5.7 grams of pure palladium. Converting to troy ounces: 5.7 ÷ 31.1035 = 0.1833 oz t. At today's spot price of $1,379.79 per troy ounce, the melt value is approximately $252.86. That's the starting point for any negotiation with a buyer.

Palladium Calculator by Purity

Palladium scrap and jewelry come in a small number of common purities. Pd950 dominates palladium jewelry. Fine .999 palladium is used in bullion bars, coins, and lab equipment. Lower-purity palladium alloys appear in some dental work and industrial scrap. Use the palladium calculator above with the purity selector, or reference per-purity details below.

Pd950 Palladium Calculator: Price Per Gram

Pd950 palladium is 95% pure palladium, stamped "950 Pd," "Pd950," "PD950," or "Pd." The Pd950 palladium price per gram is $42.14 at today's spot price. Pd950 is the modern standard for palladium jewelry, used in wedding bands, engagement ring settings, and men's bands. The 5% alloy adds hardness without affecting palladium's white color or hypoallergenic properties.

Fine Palladium Calculator: Price Per Gram (.999)

Fine palladium is 99.9% pure palladium, used in bullion bars, coins like the American Palladium Eagle, and laboratory equipment. The fine palladium price per gram is $44.32 at today's spot price. Lab-grade palladium from chemistry and research applications is one of the most valuable forms of palladium scrap because it requires minimal refining.

Lower Purity Palladium

Palladium also appears in dental alloys and industrial applications at lower purities. Some "white gold" dental alloys contain palladium mixed with gold, silver, and other metals at varying percentages. Catalytic converter palladium is not expressed as a purity but as a quantity (typically 2–7 grams per converter). For mixed-alloy or unknown-purity palladium, use the custom purity option in the calculator above or have the material assayed by a refiner.

Palladium Price Per Gram, Pennyweight, and Troy Ounce

Palladium trades in three weight units. Per gram is the most common reference for jewelry sellers. Per pennyweight (dwt) is used by some jewelers and refiners. Per troy ounce is the global spot price quoted on NYMEX. The price table above shows all three for every purity.

Palladium Price Per Gram

Pure .999 palladium is worth $44.32 per gram at today's spot price. Pd950 jewelry is worth $42.14 per gram. A standard 5-gram palladium wedding band in Pd950 has a melt value of approximately $210.72.

Palladium Price Per Pennyweight (DWT)

A pennyweight is 1.555 grams, or 1/20 of a troy ounce. At today's spot price, fine .999 palladium is worth $68.92 per pennyweight, and Pd950 palladium is worth $65.54 per pennyweight. Pennyweight is less common in palladium transactions than in gold, but some jewelers and refiners still quote palladium in dwt.

Palladium vs Platinum: What's the Difference?

Palladium and platinum are both from the platinum group metals (PGM) family. They look nearly identical when polished, both have natural white color, and both are hypoallergenic. The key differences are price, weight, and durability.

Palladium vs Platinum Price

At today's spot prices, palladium is $1,379.79 per troy ounce and platinum is $1,949.40 per troy ounce. Palladium prices have been volatile in the past decade, briefly trading above platinum and gold in 2020–2022 due to automotive catalytic converter demand. Prices have since pulled back as electric vehicle adoption reduced palladium demand. For jewelry, palladium typically costs less than platinum at retail because palladium rings weigh about 40% less due to lower density.

Palladium vs Platinum Weight and Density

Platinum is 21.45 g/cm³. Palladium is 12.02 g/cm³. A palladium ring of the same size as a platinum ring will weigh about 44% less. This makes palladium jewelry more comfortable for daily wear, especially in larger men's rings, but it also means palladium pieces contain less metal by weight. For a 6mm wedding band, expect a platinum version to weigh 12–15 grams and a palladium version to weigh 7–9 grams.

Palladium vs Platinum Durability

Both metals are durable for daily wear, but platinum is harder and more scratch-resistant. Palladium scratches more easily than platinum but doesn't wear away (the metal displaces, similar to platinum). Both are hypoallergenic and don't tarnish. For someone with an active lifestyle who works with their hands, platinum is the more practical choice. For someone wanting a lightweight, comfortable white metal at a lower price point, palladium works well.

Palladium vs Gold: Price, Value, and Rarity Compared

Palladium and gold trade at different prices, and the relationship has shifted dramatically over the past decade. At today's spot prices, gold is $4,530.00 per troy ounce and palladium is $1,379.79 per troy ounce.

How Rare Is Palladium?

Palladium is roughly 30 times rarer than gold. Annual global palladium production is about 210 tons compared to 3,000 tons of gold. Roughly 40% of palladium is mined in Russia and 38% in South Africa, making palladium supply geopolitically sensitive. Despite this rarity, palladium prices are driven by industrial demand more than financial speculation, which makes them more volatile than gold.

Why Is Palladium Sometimes More Expensive Than Gold?

Palladium briefly traded above gold from 2019 to early 2022, peaking near $3,000 per troy ounce when supply constraints from Russia coincided with strong automotive demand for catalytic converters. The relationship reversed as electric vehicles reduced palladium demand and gold surged as a financial hedge. Palladium remains a critical industrial metal, but its price is more tied to manufacturing cycles than gold's monetary status.

Palladium vs White Gold: Which Is Better for Jewelry?

Palladium and white gold are both popular choices for white-colored jewelry, especially wedding bands and engagement rings. They look similar but differ in composition, maintenance, and price.

Composition and Color

Palladium is a naturally white precious metal in its pure form, typically 95% pure (Pd950) in jewelry. White gold is yellow gold mixed with white alloys like palladium, nickel, or silver, then plated with rhodium for a bright white finish. Palladium has a slightly grayer, more natural white tone. White gold appears brighter when freshly plated but develops a yellow tint over time as the rhodium wears off.

Maintenance Differences

Palladium requires no replating and maintains its color permanently. White gold needs rhodium replating every 2–5 years to maintain its bright white appearance. Replating typically costs $40–$100 per piece. Palladium is also hypoallergenic, making it safer for people with metal sensitivities. White gold containing nickel can cause allergic reactions.

Price Comparison

Palladium jewelry is often priced similarly to or slightly above 14K white gold but below 18K white gold and platinum. The exact comparison depends on current palladium spot prices, which are more volatile than gold or platinum. When palladium prices are high (as in 2019–2022), palladium jewelry can cost as much as platinum. When palladium prices are low, it offers significant savings over platinum with similar appearance and properties.

Is Palladium a Good Investment?

Palladium is primarily an industrial metal with a small investment market. Its price is heavily influenced by automotive demand (catalytic converters), making it more volatile than gold or silver. Whether palladium fits a portfolio depends on goals, risk tolerance, and time horizon.

Arguments for Investing in Palladium

Palladium is rarer than gold and platinum, with limited annual production from a small number of mines (mostly in Russia and South Africa). Supply disruptions can drive prices sharply higher, as seen in 2019–2022 when palladium hit record highs near $3,000 per troy ounce. American Palladium Eagles and Canadian Palladium Maple Leafs are recognized bullion coins with active secondary markets.

Arguments Against Investing in Palladium

The shift to electric vehicles is reducing palladium's largest industrial demand source. EVs don't use catalytic converters, so each percentage point of EV market share globally reduces palladium demand. Palladium lacks the financial hedge status that gold enjoys. The market is small and less liquid than gold or silver, with wider bid-ask spreads and limited investment products.

Use the palladium calculator above to track the current value of any palladium you already own.

Palladium Jewelry: What to Know

Palladium jewelry became popular in the mid-2000s as a lighter, less expensive alternative to platinum with the same white color and hypoallergenic properties. Palladium wedding bands and engagement ring settings are the most common forms.

Palladium Wedding Bands

Palladium wedding bands are typically Pd950 (95% pure palladium) and weigh about 40% less than equivalent platinum bands due to palladium's lower density. A 6mm palladium wedding band typically weighs 7–9 grams, compared to 12–15 grams for platinum. The lower weight makes palladium bands more comfortable for daily wear, especially for people unaccustomed to wearing rings or those with active lifestyles.

Palladium Engagement Rings

Palladium is used as a setting metal for diamond engagement rings, valued for its bright white color that complements diamonds without adding warmth. Pd950 settings hold diamonds securely and don't require replating to maintain color. Palladium engagement rings are less common than platinum or white gold at major retailers, but specialty jewelers and online retailers often offer palladium options at lower prices than platinum.

Palladium Jewelry Hallmarks

Palladium jewelry is stamped with the purity number plus "Pd," "PALL," or "PALLADIUM." Common stamps include "950 Pd," "Pd950," "500 Pd," and "Pd500." The UK requires palladium jewelry sold there to carry an assay hallmark (since 2010). Items marked "WHITE GOLD," "PLAT," "Pt," or any karat marking are NOT palladium.

What Palladium Items Exist

Palladium is a platinum group metal that has become increasingly valuable due to its critical role in automotive emissions control. Unlike gold and silver, which are widely found in jewelry and coins, palladium scrap comes primarily from industrial and automotive sources. Understanding where palladium is found can help you identify items worth scrapping.

Catalytic converters are by far the largest source of scrap palladium. Modern gasoline-powered vehicles use palladium (rather than platinum) as the primary catalyst to convert harmful exhaust gases into less toxic emissions. A single catalytic converter can contain 2–7 grams of palladium, worth $50–$200 or more at current prices. Larger trucks and vehicles meeting stricter emissions standards tend to have higher palladium content. Note that catalytic converter theft is a serious crime — only sell converters that you legally own, and work with licensed recyclers who can verify ownership.

Electronic components contain small amounts of palladium. Multilayer ceramic capacitors (MLCCs), found on circuit boards in smartphones, computers, and other electronics, use palladium in their electrode layers. Some electrical connectors and relay contacts also contain palladium. While individual components contain tiny amounts, large-scale e-waste recycling recovers significant quantities.

Dental alloys sometimes include palladium. Some dental crowns and bridges — particularly those made from "white gold" dental alloys — contain palladium along with gold, silver, and other metals. If you have old dental work being replaced, ask your dentist to return the old materials so you can have them assayed by a dental refiner.

Palladium jewelry is uncommon but exists. Palladium wedding bands and engagement ring settings became popular around 2004–2010 when platinum prices were very high and jewelers sought a cheaper, visually similar alternative. Palladium jewelry is typically .950 purity and is stamped "Pd" or "950 Pd." It's lightweight compared to platinum but has the same white color and hypoallergenic properties.

How to Identify Palladium Jewelry

The fastest way to identify palladium jewelry is to look for the hallmark stamp. Modern palladium is typically marked "Pd950," "950 Pd," "Pd," "PALL," or "PALLADIUM." UK palladium carries an assay hallmark.

Palladium Hallmarks and Markings

Common palladium stamps: "Pd," "Pd950," "950 Pd," "Pd500," "500 Pd," "PALL," "PALLADIUM." UK palladium jewelry has carried mandatory assay hallmarks since 2010, including the purity number and assay office mark. Watch for misleading marks: "WHITE GOLD," "PLAT," "Pt," "RHODIUM PLATED," or any karat marking like "14K" or "18K" indicate the item is NOT palladium.

The Weight Test

Palladium feels noticeably lighter than platinum but similar to silver. Density: palladium 12.02 g/cm³, platinum 21.45 g/cm³, silver 10.49 g/cm³, gold 19.32 g/cm³. If a ring marked as palladium feels as heavy as platinum, get it tested. A lighter weight is consistent with real palladium.

The Acid Test

A palladium acid test kit uses a specific acid solution that reacts with palladium differently than with platinum or silver. Apply a small drop to a hidden spot or scratch on the item. The color reaction indicates purity. For valuable pieces, take to a jeweler or refiner with XRF analysis equipment for non-destructive testing.

Palladium Pricing and Market

Palladium prices have been highly volatile in recent years, driven by automotive demand and supply constraints (most palladium comes from Russia and South Africa). The price per troy ounce has ranged from under $500 to over $3,000 within the past decade. Dealers typically pay 70–90% of melt value, with higher percentages for pure (.999) palladium bullion and lower percentages for mixed-alloy scrap requiring refining.

For gold and silver calculations, use our scrap gold calculator or scrap silver calculator. You can also calculate platinum melt values with our dedicated tool. Return to the melt value calculator homepage for all metals.