Selling scrap gold is an excellent way of turning old, unwanted or broken items into cash. It’s amazing how many people have items that could make them a very healthy profit, but just keep them in a drawer, or in the attic, simply because they never seem to get around to doing anything about them. You’ll be pleased to know that it really doesn’t take a lot of effort to get these items turned into cash, and the process should be even easier if you follow these tips to help make sure you have a successful sale.
There are a number of factors to remember when you decide to sell your scrap gold, or any item for that matter. These will help you get the very best price for your gold, and will also help to protect you from less reputable companies.
If your gold item is perfectly sellable, for example if it is a ring which is in perfect condition, then it may be worth while listing it on an auction site, or trying to sell it through a jeweller, or antique store. You will be likely to get a higher profit selling it ‘as is’. You should only really consider selling your gold as scrap if the item is broken, or damaged in some way, which would not be economical to repair.
If you are happy to sell your item as scrap gold, then there are a great deal of companies willing to buy your item. As a point of reference, the first quote you should seek is from your high street jeweller. In doing so, you’ll get confirmation of the type (purity) and correct weight of your gold. Make sure you also note the price per gram you’re being offered. Armed with this information, it’s time to hit Google and seek out some online scrap gold buyers. Probably the first thing you’ll notice is how much more some online dealers are willing to offer. In extreme examples, it can be as much as double your jeweller quoted! You will often find that by putting in a bit of extra effort at this stage can lead to a much healthier profit for you in the long term.
Remember when you are sending your gold items to the company for a quote it is always sensible to remove anything of value from the gold. If you were sending in a ring for instance, you should try to prise any precious stones out of the item, as these stones may have a value also. However if not able to do this, ensure that you make it clear to the company that you want a separate quote for the value of the stones - there’s no use in giving away something that you could make an extra profit on, right?
