subject: What Is Scrap Gold And How To Sell It [print this page] Many people are familiar with hearing the term scrap gold but are unsure of the actual definition of it. Scrap gold is the value which the gold is worth itself and the minimum value gold should be sold for. It is a piece of gold, for example a gold necklace, which has no worth to its owner it may be broken, old or unwanted.
When selling scrap gold you should look to get the best price especially as gold prices are on the increase. If the gold item is in good condition, has a hallmark or a high percentage of gold you may get a lower price than retail value, but a higher price than scrap value. If the item contains gems or stones, these should be removed as scrap gold is sold for the gold itself regardless as to whether there are any gems or stones in the item. Once removed these gems can be sold separately to a gem dealer if desired.
The karat of the scrap gold needs to be identified; it will be from eight karat to twenty four karat and measures the percentage of true gold. Twenty four karat is the purest form of gold, measured as nearly pure gold. The most common karat of gold found in the UK is nine karat gold which many gold buyers purchase from their customers.
The gold then needs to be weighed in troy ounces as this is what all gold is measured in. The daily price of gold should be divided by the percentage of purity the gold has to get an estimate for your scrap gold. You can them compare this figure to offers you receive from mail in companies or/and jewellers depending on who you ask.
Many mail in companies will want to see your gold and weigh it for them self, it is a good idea to send it off to them as they will offer a good price and even if you do not accept it they will send it back if it is in their terms and conditions. It can be very rewarding to sell gold. With the money you receive you can buy items to replace the gold you sold, or treat yourself to something you have wanted. If not, the money can be saved for when it is needed or put towards something like a holiday or a new car.
