How to Determine Your Scrap Gold’s Value

The majority of individuals do not understand they have the facility to generate money at their finger tips. The key's to realize you can sell what you do not want or use. Look round, do you have any old or damaged gold or jewellery, collectibles, antiques or other items having some value? The average US home has masses of valuable unworn gold or other jewelry.

Gold costs have been at their highest level ever this year. The more the price of gold grows, the more that you can sell you gold for. Did you collect anything as a kid that you still have today, e.g. baseball cards, stamps, coins, or dolls. Price guides exist for almost any sort of collectibles. You can find you can sell your old collections for real money. Many times they are nicely stunned how much they can sell their old stuff for. When wanting to sell scrap gold for the 1st time, you may have a tough time knowing whether you are getting a decent price for your gold. Here is a short guide to finding out how much scrap gold is worth and getting a fair deal

The scrap price is the minimum worth that gold should be sold for - the value of the gold itself. Before you sell your old jewellery or other gold items at this price, think about whether or not you might get a better price somewhere else. Of course, there are a number of factors that could bring the price up. Good craftsmanship could get you a price that's less than retail, but higher than scrap.

Similarly, something that is antique or bears a maker's mark might be worth much more, as well as any piece with gems set into it. All of them have worth outside of the exchange, and is going to be removed from any gold piece that is only worthwhile as scrap. So before sending in scrap gold, be sure to remove any and all gems.

When you have determined the piece has no other price than scrap, you will need to know what carat(K) it is. At the apex of the list is twenty four K. gold which is the softest and purest available to man - AKA pure gold. If you want to find your gold's value, follow the steps outlined below:

Look up the daily spot price per oz. (you'll be able to find it online), then divide that number by the share of pureness of your gold. This will tell you the price you should expect to get for your scrap gold. 15 K gold is sixty-two % pure, and a dropped standard from nations in the United Kingdom. Since no 15 K pieces have been made since the mid-1930s, this mark tells you the piece might have antique worth.

You will find twenty-two carat gold often in pieces from Pacific Rim and the Middle East. The minimum US standard is 10 K, at roughly forty-one % gold. This material is selected for its hard wearing qualities, as it is tougher than pure gold. It's infrequently seen these days, but could be found in old watch cases.

Eighteen carat gold pieces make up the bulk of quality pieces, and may also be marked 750 parts per thousand. It is seventy-five % pure.

14 carat gold is fifty-eight percent pure, common in America, and is also made in the East for markets overseas and in Russia.

8 carat gold is only thirty-three point three % pure and is below US minimum standards. This carat of gold is not seen in many items.

After you know how pure your gold is, finding the weight is the very next step. Gold and silver are measured in either troy oz. or in grams. Once you have figured out how much your gold should be worth, it is time to find a buyer. There are two basic ways you can go about this: gold jewelers/pawnshops or gold refiners/dealers. They both have their own advantages and disadvantages.

The first choice is between jewelry shops and pawnshops. Both may only offer partial retail price but that is anticipated as they need to make a profit. You'll need to try a number of shops and get your piece valued and different stores but sometimes local jewellery stores will give a better offer than a pawnshop might but only if your jewellery is antique or well made. You'll get the best price for your antique or well-made piece if you sell to a jeweler or pawnbroker. A gold refiner or scrap dealer will only give you the scrap worth that may be a ton less than the retail price. Not all jewelry will have that sort of price though particularly the damaged kind.

Gold refiners and scrap gold dealers will purchase your jewellery for their scrap gold worth. This is based on this cost of gold and the pureness of the gold in the jewellery. You may also find local gold refiners and scrap gold dealers in the yellow pages or on the web. The ideal sorts of jewelry to sell to these are pieces with tiny secondhand value or under fourteen karats. For instance class rings and heavy gold chains are not able to be resold very well.