Sell Scrap Gold
If you wish to sell scrap gold, remember that the price may vary from day to day as the price of scrap gold climbs up almost as rapidly the market rate for gold rises.
So if you’re planning to sell scrap gold, the first thing you should do is research about prevailing market prices. That isn’t too difficult to do nowadays since there are numerous websites that cater to this interest.
The next step is to look for a dealer who is interested in buying your scrap gold goods. Bear in mind however, that when you sell scrap gold in the black market, your items will go for about 10 to 20 percent lower than the actual market value. This is because the dealer is also a businessman, and would naturally want to get a share of the profits when for having the scrap gold process before reselling it for a higher price.
Remember too that if you would like to sell scrap gold which is less than 24 karats, referred to in the industry as “alloyed gold” you must expect that this will fetch even a lesser price. This simply means that you must not expect to get the same amount of cash for every piece of scrap gold you sell – the value of a 9 karat gold piece is a pittance compared to that of a 24 karat one!
The rule of thumb to follow if you wish to sell scrap gold is that the closer it is to pure gold, the higher the price you can get for it. Moreover, aside from the fact that lower karat sells for less, there is also an additional cost incurred for the extraction.
The kind of scrap gold one may sell could be from various karat densities – the could either be from rings, bracelets, chains, or earrings. (Yes, those orphaned earrings whose mate may have gone missing years ago but couldn’t bear to throw away from the vanity box.) These could range from 8 to 24 karats.
Some collectors even sell scrap gold from 16K crowns, dental fillings, bridges, gold teeth, etc. Pure gold coins, gold nuggets, and bars are also very movable items.
Generally, the process of selling scrap gold begins with taking the pieces to a shop and having them appraised. Other dealers would even go to your place to look at the items themselves, especially if the items are particularly valuable.
When the trader has finished assessing the gold pieces, he or she will give you a price. As in any other business, haggling and negotiating skills are needed here. If cannot arrive at an agreement, you could always do business with another buyer. Never fear, there is never a shortage of people interested in buying scrap gold.