Sell Gold Scrap For Fast Cash

Sell Gold Scrap

If you’re planning to sell gold scrap, or any other type of precious metal for that matter, I can very well guarantee it’s not just as simple as walking up to a business and telling them your items are for sale.

And there is definitely a whole lot more to selling gold as I quickly learned from a friend of my father’s who scraps metals for a living.

First of all, you need to know what type of precious metal you have. It’s all too easy to be fooled by a material thanks to today’s technology and a manufacturer’s need to make as much money as possible, especially with the economy‘s current state.

One of the easiest ways to tell if  you own the real gold or not is by the simple “k” mark that is engraved somewhere on the item.

The “k” marking which stands for “karat” tells a buyer that the piece is indeed real. In addition to the “k” symbol you should also see a number that will indicate how solid of a piece it is, as in 10k, 14k and 18k. The higher the number, the more gold is in the item and the more it will be worth.

However, just because your items are real gold, doesn’t mean you should cash in on selling your gold just yet. And if you do, you may be disappointed to learn that the face value of your items could be worth far more than its metal content.

So before you take the plunge and sell your gold item, ask the coin shop owner if your gold coins are worth more for it’s age or ask the antique dealer if that necklace is old and has a higher retail value.

The next step you should take before you sell gold is to strip anything that isn’t made from the precious metal (like diamonds or other gemstones) since most businesses won’t give you anymore for the other materials. What they will do however is remove those extra pieces anyway and profit from them, so why not cash in on them yourself?

And as far as scrapping gold items, don’t limit yourself just to jewelry or coins. Many items that people never dream can be scrapped are actually accepted by businesses as long as the piece is made from gold.

Items that may be scrapped include dental crowns and bridgework, individual earrings, gold nuggets, wire, watches and even some electronics.

And if you find that you have a lot of scrap gold that you want to sell, you may want to consider weighing them with a digital scale if possible.

Weighing your items lets you know how much you have and will assure that your buyer won’t pull a fast one on you when it comes to exactly how much you have offer.

Once you have an idea of how much gold you have to sell, you’ll want to call around to local buyers in the area who specialize in buying and selling scrap gold and ask them how much they would be willing to pay for your items.

If there are no local buyers in your area, you may want to consider an online business that buy and sell gold scrap through the mail.

Just be sure to use caution when dealing with these types of businesses by making sure that you take photographs and make photocopies of everything you receive from them to make sure there are no misunderstandings.

Where Can I Sell Gold?

Where Can I Sell Gold?

 Many individuals are asking the question, “Where can I sell gold”, and they’re certainly not alone. With the continued steady rise in the price of gold and the economy continuing to falter, a lot of people are cashing in their old scrap gold.

Even so, not every business that buys gold is willing to give you the best deal out there and of course not all of them are reputable either.

So before you get taken to the cleaners, one of the first things you should always do when dealing with any company is check with the Better Business Bureau just to make sure that they’re worth selling to.

However, you do need to keep in mind that not every good or bad business will even be listed with the Better Business Bureau, so always do your homework.

Of course doing your homework shouldn’t just be left to a background check of the business. One of the first places many people run to when they have something of value to sell is a pawnshop.

Pawnshops are actually not always the best place to sell gold to and should be the last place you consider if you want to make top dollar for your gold items. Pawnbrokers are more about loaning money than anything else and most of the money they loan never gets paid back, so it’s a risk for them to buy and sell gold for cash and rarely give their customers a break.

One of the best places however to sell your scrap gold to is sometimes a jewelry store. The only downfall to a store like this is that sometimes they’ll only purchase jewelry that’s in good condition or easily repairable.

So if you have anything other than jewelry you may have to sell your gold pieces elsewhere. But, if you’ve got the right stuff, chances are you’ll at least get 70% of the going rate, minus their take of fees.

One of the biggest businesses when it comes to buying and selling scrap gold are online businesses who offer you the convenience of dealing through the mail.

For the most part, if the business has a good reputation it should be safe enough to send your gold items through the mail, however if something happens in between the time you send the package and the time they receive it, you may not find it to be such a good deal after all.

Still, most businesses are willing to pay for insurance, shipping any other fees that are necessary to ship your goods, but if you have a lot of gold to sell the insurance may not cover it. And then keep in mind once you receive the check and cash it in, there’s no changing your mind.

If you want to sell gold that is in fairly excellent shape, you could turn to brokerage firms you may be willing to invest in what you have. Or if you live in a bigger city such as Las Vegas, trade and jewelry shows are both great options that you may want to consider as well.

Of course if you’re still asking that very same question of, “Where can I sell gold”, you may find that research is your best option if you’re looking for a particular way to get rid of your old gold.