Sell Gold For Cash
Turn Your Old Gold Into Cash!

Buy Scrap Gold

The idea of buying scrap is actually brilliant - in case you thought otherwise! It is not always that selling gives the best profits. Buying scrap silver is one of the best ways of investing and putting your money into something that guarantees you a high return.

What is scrap silver?

It can be defined as anything that has silver in it or is made out of silver. For example,

  1. Broken silver jewelry
  2. Discarded silver wares
  3. Dumped printed circuit boards(PCB) - e-waste
  4. Silver watches
  5. Silver nuggets
  6. Silver clock parts, etc.

These items are mostly junk and can be found mostly in junkyards. But relax, we do not want you to go on a junkyard hunting trip! There are dealers who sell junk and scrap too.

Types of scrap silver available

More commonly, the silver is extracted from these pieces of seemingly useless junks and later sold at a very nominal rate. One might argue that since gold gives higher returns; why not try for buying scrap gold? That is fine, but here we want to discuss about the lesser known but highly lucrative market of scrap silver. The scrap is mainly available in:

  • Bars: where solid silver can be obtained
  • Flakes: mainly from PCBs and other articles where silver usage is minimal.
  • Chips: same as the above

Coins: this is interesting considering that history has seen silver coins being used as forms of currency. Apart from holding a value for the metal used, they have a great historical value as well!

What makes scrap silver unique?

In simple words, it is the value and the ease of extraction that makes it a unique metal. Pure metal extraction from other alloys is not at all easy. Even a child can extract silver from junk - provided he is guided properly. But before venturing out, we would advise you to do some homework on the type of metal to expect and how to identify pure silver from others. One of the main factors that work in favour of scrap silver is that it's cheaply available in junk markets.

Investing in scrap silver

As already mentioned, this is a high return area. More if you have the idea to turn a piece of useless silver junk into something of art! That hardly requires any investment -only your ideas and your brain. Moreover, if you've found a piece of history, you can properly market it to earn thousands.

Other factors to keep in mind are that you need a good guide first. This area is a field of experienced and the more you hunt, the better you'll become. Check for the current value of silver, before going out to buy. And remember on golden rule - buy cheaply and sell at a higher price!

Frequently Asked Questions

  1. QUESTION:
    How to buy scrap gold and silver?
    Does anyone have any ideas (without sending me to a book to buy) how to procure scrap gold and silver short of auctions and yard sales? Thanks!

    • ANSWER:
      Advertise that you are buying old jewelry and scrap gold and silver. Ask local dentist if they have scrap gold from old fillings they could sell you.

  2. QUESTION:
    Does anyone know of a good website where I can learn to buy scrap gold or silver?
    I want to get into buying scrap gold and silver for profit and possibly for investment, any advice? or know where I can get some reliable advice?

    • ANSWER:

  3. QUESTION:
    if i decided to buy gold from people {scrap} where can i sell to get the best price for it?
    i like to start buying scrap gold from yard sales and neighbords , where cani sell it after to make some profit??

    • ANSWER:
      NOT cash for gold

      check with your local jewelers some will buy it off you

  4. QUESTION:
    How much should i pay for scrap gold?
    Would like to buy scrap gold but do not really know how much I shoud pay for the gram (10,14 and 18k) Would appreciate a knowledgeable person advise.

    • ANSWER:
      It's about 4 an ounce and about .13 per gram(as of Dec. 24,2008).

      >In conlusion, you should by it for around .31 for the 10k, .825 for the 14k, and .35 for the 18k.<

      It might also be a good idea to pay several percentiles less than these prices, otherwise you won't make too much money. No one should ever buy at market value for commodities.

      Instructions on Method:

      "Separate your scrap gold into their various karat fineness (i.e. 10k, 14k or 18k). You may need a magnifying glass to see the number inscribed on the piece....."

      "If you have any gold coins, they may have a numismatic (coin) value above their metal value, based on age, rarity, and condition. Take it to a coin dealer; you may be able to get more money that way.
      Determine the gram weight of each group by using a gram scale. If you can only weigh by the ounce, convert to grams by multiplying by 28.35 (e.g. 2 oz. = 2 x 28.35 = 56.7 grams).
      Determine today's price of gold. You can find this on the Internet[3], [4] or in your local newspaper. Fine gold as of this writing is about 0.00 per troy ounce. (A troy ounce equals 31.1 grams. This never changes.) The price of gold fluctuates according to supply and demand.
      Divide today's gold price by 31.1 to get today's gold price per gram.
      Multiply by the fineness of the gold. For each group of gold, divide the karat by 24, then multiply that number by today's gold price per gram. For example, if you have 10KT gold and the current price of gold is .94 per gram (0.00 / 31.1), then the price of your scrap gold is .94 x .4167 = .06 per gram.

      10KT = 10/24 = .4167
      14KT = 14/24 = .5833
      18KT = 18/24 = .750

      Multiply the price per gram by the weight in grams. If you have 10 grams of 10KT gold and you calculated the price at .06 per gram, then your scrap gold is worth 10 x .06 = 0.59.

      Examples
      If you have 5.0 grams of 14KT scrap and gold is 0.00 today, then 0.00 divided by 31.1 equals .9389 multiplied by .5833 (14KT) equals .88 per gram. .88 multiplied by 5.0 grams equals .40.
      Now let's say you have 15.3 grams of 10KT gold scrap. 0 divided by 31.1 equals .9389 multiplied by .4167 (10KT) equals .06 per gram. .06 multiplied by 15.3 grams equals 4.52."-wikihow.com

  5. QUESTION:
    I want to sell scrap gold direct to refiners in the u.k. Where can I find reliable buyers ?
    I dont want to deal with the middlemen or all those companies who advertise on tv and actually pay a pittance.Just an established refiner who would buy scrap gold/silver could anyone recommend a refiner anywhere in the u.k. ?

    • ANSWER:
      yeah, well, the refiners are not going to want to deal with the tiny quantities you would bring them - that's why there are middlemen . to buy small quantities from individuals and then they sell large quantities to the refineries

  6. QUESTION:
    where can i buy scrap gold,24k?
    need to buy it at 20 dlls a gram or a little more,where or is it possible

    • ANSWER:
      Your local pawn shop is one place.

  7. QUESTION:
    How do gold refineries make money? When they buy our Gold what do they do with it to make a profit?
    I need to know how do refineries make their money. When refineries buy people scrap gold and such. They melt it but then what do they do with it. how do they make a profit? Who do they resell to? Who buys from them?

    • ANSWER:
      Refineries are quite lucrative businesses. It's all really about services or processes.

      When you sell them your scrap gold they assay it, to find out exactly what percentages of what metals you provided them. They may charge you for that "service."
      So there's profit #1.
      Then they use acids to dissolve some metals and not others to purify the valuable metals. Suppose you sold them some 14K gold scrap. You actually sold them a metal alloy of 58% gold, 20-25% silver, and 12-7% copper by weight. Proportions vary by different alloys, but the Karat of gold is always a fraction of 24. 24K is 99.9% pure and 12K is 50% pure.
      Anyway, they would pay for the gold, at less than 58% what gold traded for on the day they receive your shipment because the gold you sent was scrap, therefore of a lesser value because it needs to be processed (by them) to be of pure value again.
      That's profit #2 and #3.
      They pay a devalued rate for scrap, and in case you missed it, both silver and copper have a value, and are traded as commodities, but the refinery probably won't pay you for the other metals in the alloy. Though it may not be as big a number as the gold, they deal in volume and the little numbers add up.

      By the very process of removing the impurities they increase the value of the metal, and that is the main way they make their profit. Used metal has less value as pure, unless it has historical or sentimental value.
      If a refinery has purified an alloy into it's purest state, the metal is in a more rare state. The laws of supply and demand follow. Since refineries are the main source of pure metal, they stand to make the first, and most, profit from the refining process.

  8. QUESTION:
    does the government buy scrap gold?

    • ANSWER:
      They buy very little at all and only as a strategic mineral.

  9. QUESTION:
    I work at a jewelry store. What laws if any should I know about buying scrap gold from customers.?
    Do I need to keep a journal of all transactions, receipts, or can I give cash out without any transactions shown.
    Do I have to keep what I buy for any amount of time or can I scrap right away.

    • ANSWER:
      Keep a record of the seller's ID, how much you paid and when. Reason being is that you might be buying swag and you don't want to get nabbed for recieving stolen property.

  10. QUESTION:
    What do companies such as Cash 4 Gold do with the "scrap" gold they purchase?
    I keep seeing more and more ads offering to buy my "scrap" gold. What do these companies do with the gold they buy?

    • ANSWER:
      Usually after they refine the gold they sell the raw metal to investors or jewelry manufactures.
      Before you send your gold to those cash 4 gold sites make sure you know the value of your items. Dont get ripped off!!!

  11. QUESTION:
    Have you ever sent in gold through one of those mail in we buy gold programs?
    I have some scrap gold (old necklaces that broke etc.) and a gold crown from my tooth. How much do those companies pay you. How much could I get for a gold crown? (I had to get a crown replaced on my tooth and I kept the old one that they took off)

    • ANSWER:
      don't use it go to a local pawn shop.

  12. QUESTION:
    What are your experiences selling gold?
    I keep seeing the Cash 4 Gold commercials on tv, plus local jewelers are advertising that they will buy scrap gold. I was wondering if anyone had specific examples of selling gold and how much they got. I have some pieces and I don't know if I should sell online (and which companies to avoid) go to a jeweler or if I should just pawn them. They don't have stones or anything in them so I would just want the gold worth. Thanks!

    • ANSWER:
      Stay away from that Cash 4 Gold. I heard of a person who used them for cashing in 2 US per 1933 Gold Pieces. She received 0 cash for both. This was about 2 weeks ago. Problem is the dealer she bought them from 10 years ago would have given her 00 for both of those coins. Basically she got 1/3 of the total value. Cash 4 Gold is a scam pure and simple. Keep your gold. You may need it in the near future.

  13. QUESTION:
    How much should a jeweler pay for 18K gold scrap?
    I am taking some 18K gold necklaces in to a jeweler who said they would buy them as scrap. I assume they will weigh them and multiply the weight by something. What is that something? In other words.... how much is reasonable for them to pay per ounce? Just a ball park so I know if they are ripping me off.

    • ANSWER:
      a lot

  14. QUESTION:
    How muchh money will i get if i sell my gold?
    Okay, i have a 14k gold necklace, 14k gold bracelet, and a white gold necklace. At the mall, there's a place that buys scrap gold. How much money do you think i will get if i sell those three pieces of jewelry?

    • ANSWER:
      First of all, you can go there and get a quote. Secondly, Craigslist is a wonderful media for selling things in your area. Remember, whatever price they quote you has to leave room for profit. You might want to sell it on your own before you accept their gold quote. Don't let them push you in to it. Tell them you need to think about and talk to your mom/friend/uncle or whoever to give you an excuse as to why you can't answer them right away. Then try to sell them on your own.

  15. QUESTION:
    How much is gold worth right now? Im selling gold, diamond, gem jewelry on ebay & curious?
    Im selling a lot of diamond, gem gold jewelry on Ebay & noticed that alot of people are buying scrap gold to melt down I take it?? The jewelry Im selling has diamonds & gemstones in it, how much is gold worth right now & if they are melting the gold down, can they do that with the diamonds & gems in it?? Im just curious if anyone has additional info on this, thanks!

    • ANSWER:
      Gold is currently trading at 5.25 per oz.

  16. QUESTION:
    Where do I go to have my gold and silver scrapped?
    I don't want to be ripped off by a pawn shop and I need the money before tuesday. Do I have to go through a fine jeweler or are there local companies that buy your scrap gold?

    • ANSWER:
      Yes nearly every jewelery store especially the private ones can help you out, dont get jipped, check out the current price of gold that day before you go out to get some offers, btw gold recently has been hovering around at an all time high of 1000.00 per ounce, of course the jewler wont really give you quite that much (they need to make money too here...), but you should be ok at any jewlery shop thats reputable.

  17. QUESTION:
    How do I sell my scrap gold direct to a refiner?
    I'm looking to sell my old scrap gold jewelry and things, and get the highest possible amount for them. I keep calling all these ads on TV for people that buy it, but the prices I get seem to all be way too low. How do I sell my scrap gold direct to a refiner?

    • ANSWER:
      Try Specialty Metals in Fairfield Connecticut.
      The phone number is 800-426-2344 www.specialtymetals.com
      They will buy your gold at prices way above what a jeweler
      or pawn shop will pay. The ads for gold buyers on TV are full of problems. Go to Better Business Bureau web site and look up each company. If you see problems, stay away. BBB.com

  18. QUESTION:
    iv got about 3 carrot of scrap diamonds what can i do with them?
    hello i buy scrap gold and have just started pulling the stones out of them. there all diamonds and iv got no buyer for them. any ideas what to do with them? many thanks in advance, Dave

    • ANSWER:
      If you live near New York, I can give you some names of poeple you can go to. But you're going to be offered VERY low prices as these are probably low quality goods.

  19. QUESTION:
    Does anyone buy Gold Plated items for scraps?
    If so Can I have som names of some people who do?

    • ANSWER:
      Not in OH

  20. QUESTION:
    Why is the price of gold so high at the moment?
    How much more do the people that buy gold for scrap make on it?

    • ANSWER:
      The scrap gold people will offer you 50-65 % of what it is actually worth. So they are making 50 - 100% profit over what they pay.

  21. QUESTION:
    How much is the price of gold today 7/12/2008 closing on 7/11/2008?
    I am looking to see gold as scrap, gold in new pieces,and silver as scrap and new pieces.I am going to different jewelers that buy gold to see what the best price is,I just want to know what I am up against and the real prices versus what they will pay.Any feedback to help me not get ripped off or sold for alot less than I should. Thanks

    • ANSWER:
      Prices change constantly, you can monitor them online:

      http://www.kitco.com

      Dealers will charge you a small percentage over "spot", or pay you a small percentage under "spot", for items valued primarily for their gold or silver content. Rare items or finely worked jewely goes for even more. If you just want to buy and sell gold or silver, you might check coin dealers as well.

  22. QUESTION:
    Where can I sell scrap gold in Phoenix, Arizona for top dollar?
    I have many pieces of old gold jewelry that is either broken or I don't like anymore.... Does anyone know who will buy the broken pieces as well as the good pieces? I live by metro center in Phoenix. Thank you.

    • ANSWER:
      You can always sell your broken gold and jewelry online directly to a refiner. Check out http://www.goldintomoney.com for more information. When you sell directly to the refiner, you get paid market prices, and its completely free to ship. You also avoid the middle man at a pawn shop

  23. QUESTION:
    Im thinking of selling my gold necklace, how much can I expect to get for it?
    I guess I am going to take it to one of the many places that seem to be buying gold these days. It is not scrap it is in perfect condition. But I am sure they will buy it as scrap. It is 14k gold and weighs 156.1grams. I just checked todays spot price and its is 17 per troy ounce. So maybe that will save you a minute. I am just curious as a ballpark how much I can expect to get for it.

    • ANSWER:
      If it's in perfect condition, there is no need to sell it as scrap. I'm sure that there will be other persons who will be interested to own that beautiful piece of jewelry. On other hand, if you want to get the most buy selling it as gold, you could try to learn how to get the most from it by reading this article I've found in the Net. I think, it could help you. http://www.slideshare.net/brentallen/gold-sellers-kit-best-places-to-sell-gold

  24. QUESTION:
    Should GOLD Scrap & NON Scrap go for the exact same price ?
    When you arr Buying or selling gold what do you base it on besides the weight ? If you have NEW, VINTAGE, SCRAP all weigh the same how do You go about pricing it ?

    example :

    1. 14k Scrap gold ~ 20 grams

    2. New Beautiful ring : 14K Gold 20 grams

    3. 50 year old Vintage Ring : 14K Gold 20 grams

    SHould they all be the same price or not ?

    Thanks!

    • ANSWER:
      To a refiner, it doesn't matter. It's all going to be melted down. It sounds cold, but that is the way gold refiners do business.

  25. QUESTION:
    Scrap gold question?!?
    I have some old broken 14K jewelry I am want to sell for scrap. I see there is a jeweler in my town that buys gold (he's a jeweler, not a pawn broker). Anyway, has anyone ever done this before? I was curious as to the going rate for 14K was so I don't get completely ripped off. I have a couple of bracelets that are pretty substantial.

    • ANSWER:
      I wouldn't sell it to a pawn or jeweler. They will clean you out and give you little in return. Your best bet to get true spot price for gold is on ebay. 14k is uaully just above 50% of the total weight. Get a postal scale, weigh it, determine about how much you want from there and put it on ebay. The main thing is find out exactly how much gold you have in that jewelry to get an idea how much it's worth at scrap if you choose to go the jeweler or pawn route and don't let them intimidate you with salesman jargon into selling it for much lower than it's worth. Good luck

  26. QUESTION:
    How to become a Gold Buyer?
    Gold Buyer training
    Looking to buy gold jewelry for scrap value and investment.
    I can finance my own buys I just need help getting set up with training and proper licensing.
    Can some one point me in the right direction for learning how to test gold and weight it properly so as to determine value?
    Also where would I go to obtain information on proper licensing in my state, I live in Connecticut.

    • ANSWER:
      lol, I think you have to be skeevy and Master Cheese to pull it off.

  27. QUESTION:
    I bought a load of scrap gold at an auction years ago. Is this the right time to sell it?

    • ANSWER:
      Gold is in a bullish trend and will continue to go higher. 28 years ago it was priced at 0 and today it is around 0. 28 years ago we had a debt under a trillion and today we have a debt over 10 trillion.

      The problem you have is you won't get spot price for your scrap. However, once gold breaks out to new highs, you'll find that some companies will pay higher prices. Wait for this to happen and sell during a really nice bull run. Keep an eye on what the dollar index is doing and if you see it break below 80, and then especially 72, you'll see demand soar. Just be patient.

      When you do sell it, don't buy scrap again, buy bullion coins as they are much more liquid.

      I wrote a White Paper about investing in gold that can give you more reasoning for holding on for now. You can download for free at: www.fedupbook.com/whitepaper

  28. QUESTION:
    Is there a U.S Gold buyers in Florida? if so where can I find it?
    Or any other business that buy scrap gold in FL?

    • ANSWER:
      Yes,many depending upon where you live
      Simply do a google search for "gold buyers (your city, FL)

  29. QUESTION:
    do i have to have a licence to buy gold?
    hi im in the uk and would like to know if there is any regs on trading gold scrap stuff. thanks

    • ANSWER:
      no just money

  30. QUESTION:
    Where are the best places to put an ad on a bulletin board?
    I just started a small business and want to hang ads with pull off phone numbers on bulletin boards locally. I plan to post them at grocery stores. Where else is a good location to post my ads? I buy scrap gold and want to target people who need cash.

    • ANSWER:
      Nobody needs cash like college students. Post them up on college campuses. Also, think about places where unemployed or underemployed people might frequent. If you know of a job fair in your area why not post them up there. It might also be a good idea to try bus or train stops too. If you think about it, there really isn't a bad place to try putting them as long as it's visible and legal to put stuff up there. Good luck

  31. QUESTION:
    where to sell gold bullion / dore from dental scrap gold to?
    I've melted lots of dental scrap into an ingot / gold bar and refined it using a home refining system. its 99.98% gold. where can i sell it to? I saw others on Ebay which sold for a lot less than the gold spot price (ie, spot was /gram and other home-made bars were selling for roughly /gram only) The only ones selling for a good price were the stamped ones from Metalor, Suisse, etc. Since I made it myself, what do I do with it? I tried selling some before to refiners I found online like Midwest Refineries and Garfield, but the return was NOT as advertised. They claimed I would get 94%-96% of the value but they really only gave me like 60% - scammers, to say the least. Anyways, does anyone have experience with a reputable gold buyer for non-minted gold bullions? Allso, I have a good amount of palladium which is about half the price of gold - who can buy that at a good price? Thanks
    im dealing with about 50 oz. what is the minimum for a known refining company to refine my gold, and do you know what rates they charge?

    • ANSWER:
      Many coin dealers will buy bullion. You might also try jewelry stores (real jewelers, not the places in the mall).

  32. QUESTION:
    Which Cash For Gold Company is the best? What about CashKit?
    I found a unique website called www.cashkit4gold.com where they seem to being paying top dollar for all gold and unwanted jewelry. I know Gold futures rose Wednesday for the first time in 3 days.

    It seems like it's a smart time to sell and cash in. Only being the second day in April, Gold is now at 5.80 an ounce. Is now the time to sell? The website cashkit4gold.com states “CashKit4Gold.com will buy all unwanted gold jewelry. Since we only buy scrap gold over the internet, our overhead is very low compared to refineries. Use the CashKit to turn your gold into cash.”

    • ANSWER:
      You are better off finding a gold refiner in your area, thereby eliminating the middleman.

  33. QUESTION:
    what amount per ounce should i expect to get for my scrap gold?
    some 10k, mostly 14 k, some 18 k chains and rings, a few diamond melee.
    taking several items to a jeweler who is buying and i want to know what is fair.( in usa)
    thanks much!

    • ANSWER:
      I would say 6-9 bucks per gram seems about right. Of course, if you can find something better, go for it.

  34. QUESTION:
    how do you invest in gold or silver?
    I was wondering where you buy the gold and then where would you sell the gold for a good price?

    is it mostly just scrap gold and silver that is bough and sold?

    • ANSWER:
      There are several ways to invest. No, it is not mostly scrap gold and silver that is bought and sold. Forget the TV ads. Most people buy and sell using an investment company (either a stock broker type or a precious metals company).

      The types of investment are the following:

      1. Collectible coins. - It is best not to try this without knowledge of the subject. Use a reputable dealer as listed below for bullion coins.

      2. Bullion Coins - You can buy these by mail from a reputable dealer. (Blanchard, Investment Rarities, etc.) I shy away from the ones that advertise on TV. The better companies advertise in financial magazines.

      3. Stock or mutual funds dealing with bullion production or mining. Check out stock symbol: ABX & UXG for gold HL for silver. (HL has not performed well in the past 2 months.)

      4. Stock in a reputable company that buys and maintains gold and silver in their vault. Example : CEF

      CAUTION: Gold and silver are volatile and you will see the price go up and down. Mining stocks are even more volatile. Start with an amount that you could risk loosing 25% of its value without hurting yourself.

      I invest in gold stock and mutual funds and make good profits. But I do not use the buy and hold strategy. Some people do.

      My strategy is pretty basic but it works for me. I try to buy after prices have fallen some and sell when I can make 10% to 15%. I recently made a little over 25 % on a mining stock. I have also sold at a 30% loss before I learned to sell quick to take my profits and cut losses.

      Start slowly. Go with the price trends. Sell quick to cut your losses and take advantage of profits.

      Use Yahoo Finance to do your research. I like to watch the 3 month graph of the price of a stock.

      I also do all my gold and silver trading from an IRA to keep the profits from being eaten up by taxes and to simplify record keeping. If you want to buy and sell stock or mutual funds, I recommend Charles Schwab, eTrade or other discount broker.

      Good luck.

  35. QUESTION:
    How to we find Gold Sellers in America?
    We are Regal gold buyers, and we buy all forms of gold. How do be find clients online, who are ready to sell their scrap gold to us? We provide the best rate in the whole of America

    • ANSWER:
      I think Online is best for finding a reliable suppliers/buyers contract info for Gold try http://www.hellotrade.com/buyers/ for any buyers info all over the country or research more in Google for finding a better solutions.

  36. QUESTION:
    When I sent in my scrap gold to Cash4gold?
    that I bought from Avon, Why did they send me a bill and sarcastic letter?

    • ANSWER:
      lmao! because Avon gold isn't real. i should know my mom would bring those avon magazines and i'd buy those damn things, they would rust a week later

  37. QUESTION:
    Can I melt 24k gold leaf into a ingot?
    So can I buy some 24k gold leaf and then melt it down into an ingot? Would I have to use acids to refine it so its just gold? What are some other ways to get scrap gold then melt it down? I just want the experience, not for money.

    • ANSWER:
      24 k gold leaf is pure gold already, so there is no need for refining it.
      But with a melting point of 1068 C, this is not something that you can easily melt down (true story: while in high school, in chemistry class, a fried of mine and I extracted gold from a compound and then tried to melt the resulting dust to form a small chip. It took several hours days before we managed to get the refractory electric oven of the lab to a high enough temperature -- we tried for 3 days, in the end, the oven was the first thing he turned on when arriving at school).

      That said, gold leaves would tend to 'stick' to themselves, so you could fold and clump them up and then beat them down to turn them into some sort of ingot; no melting necessary.

  38. QUESTION:
    What should I expect to get for my scrap/broken gold jewelry?
    I am getting ready to take my broken jewelry to a place here that buys it from you. What can I expect to get for it? I am in pretty bad shape, financially and need money for bills. I hate to get rid of it, but we do what we must! Thanks for any help on this!

    • ANSWER:
      Consumer reports has some good advice on selling gold:

      "The Consumer Reports Money Adviser compared what one of the television companies offered for a gold band a couple of years ago with what a local jeweler and an on-line gold buyer would pay, the TV company paid a much lower price. Instead, take your gold to a reputable jeweler in your area for an appraisal. Note the carat of the metal, and ask the jeweler to tell you the weight in pennyweights or troy ounces. Use this online calculator to figure out the value based on the price of gold that day.Then quickly (because prices fluctuate) call several jewelry or coin stores and ask how much they pay for gold. Aim to get about 85 percent of what you calculated it’s worth. "

      Read the link below. It has a calculator you can use to estimate what your gold is worth.

  39. QUESTION:
    Buying gold in foreign countries?
    Hi,
    I have a question; I have learned that the U. S. Dollar-though shrinking in value still has some decent momentum for its value in China. Therefore-- what about the price of gold in China? Can a person buy gold in China and get more for it because the US dollar still holds value there, or are there limitations to importing gold from China to the US? What about other countries as well ... any ideas on how to procure scrap gold and come out with a big profit? Thanks,.

    • ANSWER:
      Actually, the exchange rate between the US Dollar and the Chinese Renminbi is fixed by the Chinese government. That creates the perception that the US Dollar is maintaining its value there. As you may be aware, the US has been putting pressure on China to sever that link, which would cause the Chinese Renminbi to appreciate rapidly against the dollar (which would also make Chinese goods more expensive in the US and make US goods cheaper in China.
      In the mean time, buying gold there may not be a bad idea. I don't know of any restrictions on exporting gold from China. You may have to pay customs in the US, though.

  40. QUESTION:
    What Can I Get For Scrap Silver Jewelry?
    Hello, everyone. I was wondering if anyone could tell me if scrap silver jewelry is worth anything. Don't laugh, I weighed it on a food scale, and it reads 480 grams or 1.09 ounces. Does that mean anything to anyone? Sorry, but I do not know much about jewelry stats. So, if I brought it to a place that says they buy gold/silver/etc....would I get anything for it do you think? Thanks in advance, everyone.

    • ANSWER:
      I have sold my gold to a couple of online gold buyers and a few local shops. I got the best payout from Captain Cash For Gold- http://www.captaincashforgold.com/. With Captain Cash For Gold, you skip the middle man so you actually get paid the highest value for your gold. They pay you the same day you send them your gold and it all in a very secure manner. The people there are very nice and walk you thru any of your questions. I would highly recommend using them. Good luck!
      Source(s):
      http://www.captaincashforgold.com/

  41. QUESTION:
    how much should I pay for crap silver ?
    I would like to buy scrap gold and silver as a venture

    • ANSWER:
      Scrap Value" If you see this check it your self.
      Three easy steps

      You must KNOW EXACTLY what you are bidding on. Auctions listing Precious Metals for sale as "SCRAP" will include the weight 99% of the time. They list most weights in grams. But you will also see listings in ounces (oz), postal ounces, pounds (lb.), or even grains.

      1. You need to convert this to an amount that easy for you to calculate the ACTUAL Scrap Value.

      2. You need to know the ACTUAL % of content of Precious Metals.

      3. You need the current spot of value of the precious metal.
      I like to convert all of my weights to "TROY" ounces because the "Spot" amount on Precious Metals is based on weight in troy ounces. If an auction lists a weight in ounces ALWAYS assume it is NOT troy ounces.

      If you search ebay for scrap silver you will see many listings with weights in ounces. If you assume it is troy you will come up short by about 9%. It is an advantage to the seller that you will think that this is the amount of silver or gold that they have for sale. They boost the perceived value by 9% when they list it this way.
      To convert from the listed weights use the following formulas;

      Make sure the items that are listed do NOT have any extra non-silver or gold weight, like stones. Large stones can add a lot of weight to gold.

      Ounces, oz, or postal ounces. Take the listed amount and multiply by .91 to convert to TROY Ounces (t.oz.) 11 ounces x .91 = 10.01 troy ounces

      Grams. Take the listed weight and divide by 31.103 to convert to TROY ounces (t.oz) 111 grams / 31.103 = 3.569 troy ounces.

      Grains. Take the listed weight and divide by 480 to convert to TROY ounces (t.oz) 444 grains / 480 = .925 troy ounces.

      Pounds (lb.). Take the listed weight and multiply by 16 to convert to ounces (t.oz) 11 pounds x 16 = 176 ounces. Now convert this to troy ounces by multiply by .91 176 x .91 = 160.16 TROY Ounces
      Precious Metals %'s of Content

      Silver. Most silver for sale on Ebay is STERLING (.925) 92.5%, 925/1000. There are others such as "Coin" silver 90% (US pre 65 silver coins), 800 or 80%, 835, or 83.5% and a very few items that are PURE SILVER .999 or 99.9%. Just so you understand PURE silver is always listed as .999

      Gold. The most common gold is the USA is 14k. PURE Gold is 24k. Gold content is measured in "k". To get 14k they mix 14 parts of PURE gold with 10 parts other metals, as copper.

      9k. 37.5% pure gold (Typically found in Europe)

      10k. 41.66% pure gold

      12k. Probably only gold plated. .001% or less gold

      14k. 58.33% pure gold

      16k. 66.66% Pure gold (Old Dental Gold, always treat this gold as 14k)

      18k. 75% pure gold

      22k. 91.66% Pure gold (Asian and Middle Eastern) Some of this 22k gold is marked .999 but will not test as 24k.

      24k. 100% Pure gold (Only in certified) if not certified do not buy as 24k.

  42. QUESTION:
    9ct gold melting it to cash it in? ANY POINT?
    hi i buy and sell scrap gold for a living. iv noticed a few people cash in there metals melted down. i have about 450 grams of 9ct gold. if i melt this lot will the overall ct be increased at all? like is it going to = like 9.5 ct? thanks in advance.

    • ANSWER:
      No it will not increase in quantity. It might decrease from the handling and burning off of impurities.

  43. QUESTION:
    should i sell my scrap gold jewellery
    I live in Rugby, and went round a few shops, and the expensive type shops didnt want to buy it ! They said they "would" give a high price...only they "werent buying at the moment" ....Hmmm! I tried a couple of check cashing places, and a place called the emporium, who offered quite a bit over what the others had offered? (do they know something) ie, is now the best time to sell?
    Its gold, but i dont wear it, some of it broken, scrap jewellery so I know its not worth a lot, but I was suprised at the price offered!
    should i sell scrap gold in rugby, or go to the jewellery quater...is it worth the petrol though!

    • ANSWER:
      My friend wanted to do the same thing.
      She did a lot of research, and she found a great place online. I will provide the link for you below if you are interested.
      She compared a lot of places. She felt good about this one because it was featured in USA Today, and she liked the fact that they are members of the BBB.
      They were willing to give her the best price for her gold, and they were willing to pay her fast.
      There is a ton of information on that site if you would like to check it out. You can put in your information if you would like to find out what you can get for your gold.
      Good luck, I hope you get they money you want for it!

  44. QUESTION:
    question about jewelery stores?
    Places that say they buy gold, do they also buy silver? I have 2 silver necklaces that I don't want anymore and was wondering if the places that buy scrap gold if they would buy them?

    • ANSWER:
      silver is very cheap. you may not even get for the silver. necklace is more expensive because of the labor. you get more by selling it on eBay than melting the necklace.

  45. QUESTION:
    Looking for a buyer for Gold Dust?
    I have quite a large amount of Gold Dust that I need to sell. However, Ive had a very hard time finding a buyer. Does anyone have any "real" companies that would be interested in buying Gold Dust... not Gold Scraps, Gold "Dust"?

    • ANSWER:
      how about ebay

  46. QUESTION:
    Where can I buy jewelers scales that can show Troy ounces ?
    Do you know a supplier or particular model of jewelers scales that would be very accurate in weighing small amounts of scrap gold/gold jewelry/gold chain etc in troy ounces.Hopefully there is one that does not cost £100's of pounds.Appreciate any advice.Thanks.John.

    • ANSWER:
      I saw some of these scales on Ebay a few days ago.

      http://www.ebay.com

  47. QUESTION:
    security gold exchange in grass valley?
    i know they buy gold but do they buy 14k scrap jewelry also
    if any one has went there what percentage of market value do they offer

    • ANSWER:
      I answered a question like this once before in the past month or so.
      I remember that I couldn't find anything about the Security Gold Exchange in Grass Valley. I do know of the commercials on tv for
      Gold into Cash. But I wouldn't use them. What about local pawn shops? I have read they are paying the rate of melted gold for scrap jewelry.

  48. QUESTION:
    Selling Scrap Gold in Leeds?
    Hi there
    I am have found a load of old gold which I would never wear again so have decided to cash it in and make some money but I am not sure where to go, a friend said she knows somone who can buy it for £3 a grm (9ct) but when I have looked on the internet it should be more like £4+ that I should be getting, does anybody know of anywhere in Leeds that I could go, or anywhere reputable that I could send it to and Trust.

    Thanks

    • ANSWER:
      Yes, try www.hattongardenmetals.com they are paying over £5 per gram at the moment.

      They have a calculator on their rates page where you can work out how much they will pay you for your gold.

      I use them alot as I buy gold on a weekly basis

  49. QUESTION:
    Trying to get out of debt, when is the best time to sell our scrap gold and silver?
    My husband and I are trying to get out of debt, paying off credit cards, student loans, etc. We have made quite a dent in the past two years considering we have a six year old, four year old, and one year old. We have a decent amount of scrap gold and silver we would like to sell to pay off debt or invest in my husbands business (he needs cash for a buying trip as we sell items online). We have a friend that does this and will give us a fair price for it. Do we hold onto it and hope that the prices continue to climb, or go ahead and sell it and pay towards our debt or invest in the business now? When do you think it will reach it's peak price?

    • ANSWER:
      Unfortunately, it is not clear when gold and silver will "peak", but it looks like some point in the indefinite future. It could be next month, it could be years down the road. Gold and silver have appreciated nicely over the past 5 years, but I don't think anyone can tell you when the best time to sell would be.

      Grandpa

  50. QUESTION:
    Does anyone know where I can buy I digital gram scale or pocket scale for a good price.?
    I need a gram scale to weigh some scrap gold I am trying to sell.If you know where I can get one let me know.

    Thanks,
    Jamaal!!!!

    • ANSWER:
      You can buy it at http://www.amazon.com/gp/search?ie=UTF8&keywords=gram%20scale%20&tag=heaandlif-20&index=blended&linkCode=ur2&camp=1789&creative=9325.
      Good luck!


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