Pricing & Selling Scrap Gold

Since gold prices are high, eager investors are looking for ways to take advantage of the situation. Selling scrap gold is one way. You can find scrap gold literally lying around collecting dust. If you rummage through your home, you will probably find some. If you gather it together and sell it as scrap gold, you can make some money. In some cases, lots of money.
Start by locating the current spot price for gold. A search of the Internet will provide this information. The spot price is what gold sells for in financial markets around the world on that day. The price changes every day. The spot price of gold is usually stated in dollars per ounce.
Scrap gold is found in old jewelry, flatware, nuggets, fillings, and beat up gold coins. Before you plan to sell gold coins for scrap be sure they don't have more value as coins. A reputable coin dealer can tell you. Scrap gold can also be found in computer components and high end stereo cable tips. Track down all your scrap gold and put it in a box.
Weigh the box then subtract the weight of the box itself. Keep in mind that most the items containing gold scrap is made up of substances other than gold. 14 karat gold is only .585 fine. That's just a little more than half gold. When you sell your scrap gold you will only be paid for the gold in it. The other stuff just melts away when the gold is reclaimed.
Multiply the weight of your gold scrap by the current spot price of gold. Now cut that number in half. The result is an extremely rough estimate of what you might be paid for the gold content of your scrap. Understand that the gold content might be less than you estimate and you will probably get less than that when you sell.
Find a gold scrap buyer. You might be able to sell it to a jeweler in your city who makes their own jewelry. There are also many scrap gold buyers on the Internet. Look for one with a good reputation that has been in business for a long time. They will send you an envelope for your scrap gold. You send it back insured. They will make you an offer based on the gold content of your gold scrap. Some companies offer you the current spot price of gold minus a transaction fee. Others will offer you a percentage of the current spot price of gold with no fee. This is usually 90 to 95 percent of the current spot price of gold.Shop around until you find a scrap gold price you like. If you don't like what a gold scrap buyer is offering they will send your shipment back to you. Feel free to try several gold scrap buyers before deciding to sell. Different buyers estimate the gold content of your scrap differently. They may have vastly differing offers for the same gold scrap