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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.

When to Sell Gold Locally

Sell Gold Locally

Sell gold locally and you may be asking yourself, “Where do I go, how do I get started?” And with the economy still at a standstill, you may even be wondering, “Who can really afford to buy what I have to offer?”

There’s no doubt that everything has skyrocketed and everyone is looking for the best deal possible. And because of the rise in prices, businesses are really beginning to take advantage of the financial disaster, but in a positive way. So while some businesses are offering lower prices, others are investing in buying and selling unwanted gold.

Now you may also be wondering why to sell gold to just a local buyer. Why not sell your gold to other places away from your community and make even more money? The answer is simple, really. When you sell your gold to a local buyer it usually means more money and less risk.

But, even when you work with a local gold buyer, there are a few things you need to keep in mind before you just jump right in and offer your gold items to just any business.

For example, you can’t always just go to any dealer and expect them to buy everything you have. Some businesses will only buy specific items. So while you can walk into a jewelry shop and sell gold jewelry, they may or may not give you top dollar for your gold coins.

You also need to keep in mind that there will probably be a difference in how pure every item you have is. They may be stamped with a 10k, 14k or 18k. The higher the number the more pure your gold will be in your item and the more money it will be worth.

Another piece of information you’ll want to keep in mind is if you’re selling anything that is old, you should check with a local antique dealer to see if the item is worth more in value for it’s age than for the price of the gold itself.

Also, keep in mind that when you’re shopping around for prices, that price quoted could go up or even down in a matter of hours since the standard price of a gold is set twice a day. You may be in for a bit of a surprise if the item you were getting a quote on that morning isn’t worth nearly as much as it was by noon time.

In addition, before you try selling your gold, you should always remove any other valuables attached to the piece such as stones or jewels. Not only does it give you a more accurate weight when you want a price for the item, it’s also extra income since you can sell the jewels and stones elsewhere.

And finally, always check your local yellow pages for every possible gold dealer in the area. Sometimes businesses can be around for years before anyone ever realizes they’re there, so having the yellow pages at your fingertips can come in very handy when you’re trying to sell gold locally.