Where to Find Scrap Gold!
Searching for scrap gold? Here’s how it might work. You have a neighbor who is thinking of selling her old gold jewelry, because some of it is broken, she doesn’t wear it any more, and it’s no longer in style. She has no idea how to begin, other than going to a pawnbroker, or perhaps an antique shop, to see if they are interested.
These options may not even be available in a small town, by the way. But she sees your ad in the local newspaper, announcing that you will buy any kind of scrap gold – small items of gold, silver, platinum or palladium. She phones your number, and there you are, sitting in her living room with her, trying to figure out a fair value for the scrap gold she wants to sell. It’s most likely a group of rings, brooches, chains, cufflinks, bracelets, or coins. There may be a piece or two of scrap gold in its original state – a nugget or bar, or some bullion.
What price will you offer your neighbor for the four or five pieces of scrap gold she has to show you? If you have done your research, and know your business, you’ll be well prepared. You need to know the current rates for scrap gold, as well as the amount you’re likely to receive from the reseller or big buyer. Work with those, applying a fair margin of profit, and you know what your offer should be. If you are dubious about the carat value of any of your neighbor’s items of scrap gold, you’ll need to take the piece to be assayed, and let the owner know the price later, based on your findings. You can have a professional assayer do the job, or you can do it yourself, using some of the assaying tools the jewelry trade has available.
Large scrap-gold buyers can easily quote the final price they’re prepared to pay the seller. They base this estimate on prices from the metal exchange, combined with market conditions. But in your case, or in that of any small operator in scrap gold, you just need to be smart, knowledgeable, and honest.
Here’s a final tip for both buyers and sellers of scrap gold. The scrap gold you have may be much more valuable if it is antique jewelry and coins. So don’t send it off to be melted down before asking the opinion of a professional dealer.
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