Turn Your Scrap Gold Into Money

A highly valuable and precious metal, Gold has a lot of utilities other than just making fine pieces of jewellery. Scrap gold is a term associated with any metal that is entirely or partly gold. Broken gold jewelry, gold coins, gold dental bridges and gold wires are some common items sold as scrap gold. Although hard to believe but scrap gold is all over the place and can be found inside computers, electronic items and mobile phones and moreover a lot of money can be minted out of scrap gold.

Considering the fact that scrap gold is so very valuable, broken pieces of jewellery should not be thrown away. Instead, they should be gathered and appraised by a scrap gold dealer or buyer and then sold to them.

Turning scrap gold into money is very easily done. Quite a lot of online gold dealers would readily agree to buy gold from clients as it is their line of business to buy and recycle for making new jewellery. Sometimes, it is also used for industrial applications like electronics, dentistry, making medals, medallions, fake coins etc. All one has to do is send the scrap gold through a secured envelope. A broken necklace chain or a loose watch clasp is also forms of scrap gold which can be sold either per piece or in bulk. Normally, the online gold buyers would check the type of gold and how much it weighs. The measurement of gold is done in carat and higher the carat, higher the value of gold.

In order to use again and again, scrap gold is usually melted which is like recycling instead of mining it. But, it is not going to be worth the cost of real gold jewellery which is assessed according to the way it looks. Scrap gold on the other hand is assessed on the basis of its weight.

If one knows how to extract scrap gold from electronic parts and other items, it is well and good although the process is a bit complicated and tedious. A good amount of money can be received out of selling all the scrap gold available in the house. The extraction job should be left to the experts until and unless one is absolutely sure of what needs to be done.

Unfortunately, the kind of scrap gold the dealers require should be in pure form which means that no extraction whatsoever is needed. A tiny chain, small coins or broken jewellery embedded with gemstones are the ideal ones. Before handing the jewellery over to the dealer, the gemstones should be taken out. The pricing for the scrap gold is done on the basis of the available gold, the rate of gold that day and the dealer's fees.