Where to Sell Scrap Gold
Not sure where to sell scrap gold besides a pawnbroker? Don’t worry, there are several businesses who are willing to take those old pieces of gold jewelry and odds n’ ends off your hands that will give you a better price than your local pawnshop. Here are a few places to keep in mind.
A jewelry store can be an excellent source for broken gold jewelry pieces as long as they’re not in need of major restoration. However, not every jeweler works in the same way, so it never hurts to ask what they will and won’t take when it comes to old gold jewelry.
Keep in mind however that there may be out of pocket expenses involved if you decide to host one unless you can get a local business such as a coin dealer or jewelry store to sponsor you. You also need to keep in mind that you may have people you don’t even know will be in your home.
Of course if hosting a gold party just isn’t your cup of tea, you can always sell your gold at one instead. Just be sure you remove any gemstones or other materials that are not made of the precious metal, since you won’t get any extra money from the gold buyer for them. Otherwise, the buyer will just remove it himself and cash it in for profit which is a big loss to you.
Another place you can sell scrap gold is through a refiner. Refiners are wonderful because you cut out the middleman all together, which means more profit for you! However, if you’re going to consider using a refiner you must have a lot of gold to sell or they won’t even consider buying from you.
One of the easiest ways to work around this problem if you don’t have a ton to get rid of is buy talking to friends and family about gathering their own items to add to the deal. Then once the check is cut, you can give everyone their fair share of the cash.
Online businesses and even television commercials who deal in buying and selling unwanted gold can be an excellent way to sell your scrap gold if you don’t like the idea of dealing with gold buyers face to face and don’t mind sending your items through the mail. Just be sure to make copies of everything, that way you’re covered if there’s ever a problem.
One thing you should always keep in mind even when you’re trying to decide where to sell scrap gold to and that is whether or not that item you’re trying to get rid of is a family heirloom or of sentimental value.
Businesses that purchace scrap gold don’t keep the items lying around. Instead they take those items to a refiner who melts them down for resale. So once your item is gone, it’s gone for good!
Filed Under: Scrap Gold