How Can I Sell My Scrap Gold?

Sell My Scrap Gold

“I want to sell my scrap gold, but I don’t know how to get started.” If you’re looking for a way to make some extra money selling your gold, and if you’re like most of us, you may be wondering just how do you get started. Well, here’s how to sell scrap gold.

When you’re trying to sell gold, the first thing you want to do is your homework. Most gold items that are generally scrapped include broken or bent gold jewelry, old wedding bands from previous marriages, or other simple rings that wouldn’t be of much value on their own, damaged or defective gold coins, dental pieces, single earrings, nuggets, wire, watches and some electronics.

Your next step will be to separate your items. The easiest way to do this is to separate them into piles of 10k, 14k and 18k. If you’re not sure how to determine a 10k piece from an 18k piece, you can generally find it engraved somewhere on the item if it’s real gold.

Next, remove anything that is not made of the precious metal, but may be of value to another buyer such as jewels or stones. Doing this will also help give you a good idea of how much the gold pieces will really weigh so you’ll have a good idea of their worth.

Now you should weight your scrap gold so you have an idea of their worth. You’ll want to use a digital scale in order to know the exact amount you have. Weighing your items will also give you the reassurance that the buyer of your items won’t try to cheat you out of money from the weigh-in.

Next, you’ll want to call around your hometown to find out what businesses buy and sell gold locally and ask them how much they‘re willing to pay for what you have.

If you can’t find anyone to sell your gold to in your area, you could try placing a classified ad in your local newspaper to let potential gold buyers know what you’re selling. Just make sure you keep track of your items’ value on the market so you know their exact worth before you accept just any offer that comes your way.

Another great option that you could use to sell scrap gold is to go to an online buyer who specializes in kits, which generally includes a prepaid envelope and sometimes documents that let you to write out a description of every item you are sending to them. Keep in mind that not every online buyer is trustworthy, so do your research before you go with just anyone.

Finally, always keep in mind that the price of gold will change on a daily basis. So before you close the deal, try to get the price you were quoted in writing before you hand over your items and tell them. “I want to sell my scrap gold.” Otherwise, you may find yourself ending up with a lot less than you had anticipated.

Want to Sell Gold Online?

Sell Gold Online

Want to sell gold online? Before you do, there’s a few things you really need to know. Unlike selling gold face to face, the Internet is a potentially riskier place to sell it, and not every website that offers to buy and sell scrap gold is legit.

Still, not every business on the world wide web is a scam either. It’s just a matter of doing your research beforehand.

The first thing that is an definite given is to never sell gold to a website that even looks suspicious. And by suspicious we mean, if there’s no information about the company, then chances are they’re not going to be legit.

Yet, even with information you still may run into problems and that’s where the Better Business Bureau comes in. If the company is listed and it’s positive, then they’re probably a reputable company.

However, just because they’re not listed with the BBB, doesn’t mean they’re a bad company. It just means you’ll need to dig a little further by Googling them or asking around to find out what you can about their services.

Once you’ve done your research and you think you have the ideal company in mind, make sure you make copies of everything you send and photograph everything if possible.

And make sure you’ve insured the package. Taking the extra steps to copy gives you the added security that may just be needed should the company claim they never received your gold items.

One of the easiest ways to sell your gold on the web is through auction sites like Ebay and Amazon. With both you can post your gold jewelry, gold coins, gold bars, bullion, nuggets or whatever items you may have that contain gold.

You can set your own price and payment specifications and you can even include shipping and handling fees to keep your out of pocket expenses down as much as possible.

However, before you set a final bid price, you should always check the price for the precious metal beforehand. Then, take note that prices change on a daily basis, so selling your gold items at auction is fine, just remember that the price of gold does fluctuate.

And then once you’ve set your price for your gold items, by the end of the auction you may find that your profits were far more than you’d anticipated. Both Ebay and Amazon even allow you to check on your bidder’s history if there’s ever a concern.

Just keep in mind however that both auction sites do have seller fees, so you’ll need to keep that in mind when you set your price. Also, remember that not every auction is successful and you’ll still have to pay those seller fees even if you don’t make a sale.

Remember, when you sell gold online, to insure you’re not going to end up getting the shady end of the deal, always do your research, make copies and take any extra steps necessary before you seal the deal.