Selling Scrap Gold for Fun and Profit

Selling Scrap Gold

If you have some old gold jewelry and other pieces of gold that you never wear or use, think about rounding it up and selling it – use the money you make to buy something you’ve always wanted, go on a vacation you long for – or sock it away for a rainy day.

Today, selling scrap gold is a fun way to make a little money and get rid of some of the clutter you don’t need.

You may have more scrap gold lying around than you think. Most people think that gold is only found in jewelry, but you may also sell scrap gold found in old coins, dental crowns, bridgework, gold nuggets, screen and mesh, gold shot, solder, polishing and buffing dust – just to name a few. And, don’t forget the scrap gold found in pins, connectors and gold-plated integrated circuits.

There are several ways that you can sell gold that you’ve collected. Buyers of scrap gold offer a prepaid envelope for you to mail the gold, information about selling your gold and forms for you to fill out describing the items.

Be sure and make a copy of the completed forms before you send them off so you’ll have a record. The buyer usually insures the envelope, but you can be sure of this by visiting the website of the buyer. Before you send in the gold, remove anything of value (like stones) so that the gold can be weighed alone.

If you choose to sell your gold locally, you’ll have the advantage of face to face contact with the dealer and be able to talk to them about how they make an assessment of what your scrap gold is worth. The quality of the gold doesn’t have to be high, but the purer it is, the more profit you’ll realize from it.

If you want to sell gold coins, keep in mind that you  may not receive face value, but you will receive the value of gold contained in the coin (less a small fee from the buyer for accepting the gold).

You’ll probably receive about 10 to 20 percent less than your gold is worth on today’s market because the buyer has to process the gold and also make a profit from reselling it. Online calculation tools are available to measure grams of gold.

Simply enter the weight and karat (purity) of the gold. If some of the gold is mixed with platinum or palladium, it’s best to calculate them separately and sell those ingredients separate from the gold.

Today there are many reputable buyers for scrap gold, and they’re all eager to work with you if you want to sell your gold. You might also opt to have a “gold party,” where you can have fun with your friends – and it doesn’t cost anything.

These gold parties are becoming extremely popular because of the upsweep in the price of gold. You, your neighbors and friends can walk away from the party with some cash in your pockets and some good memories besides.

Before you send the invitations, make sure you understand how the system works. There are companies that provide services, including an accurate scale to determine gold content and a book of instructions telling you how to do it.

Selling scrap gold can be an adventure – and an easy way to turn your assets into cash!

Filed Under: Sell Gold


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