What is meant by scrap gold? Isn’t all gold valuable and not scrap? Of course all gold is valuable. What is being discussed here is the name given to gold which has been applied to everything from teeth to earrings. It’s the gold that you find lying in your jewelry box that has lost its mate or a watch that has gone out of style but has value due to the gold content. Scrap gold can fetch very good or, very poor scrap gold prices depending upon how you decide to sell it. 24 karat gold is the most pure, 9 and 10 karat gold is on the lower end. You have to shop around for a dealer to get a selling price or you can send it off to a dealer. Either way, you will then be given a price that will be a bit lower, even as much as 20% lower, than the market value rate for gold. If you are savvy about these things, you can shop around and haggle with the dealers. If you just want to unload your scrap pieces lying around you can sell to a scrap gold dealer or just hop on down to the local pawn shop and hock it.
Keep in mind, do you want to really part with the heirloom and if you do, be careful and take the time to shop dealers and don’t forget to inquire about the other metals you may have in your gold such as platinum, copper, silver and even rhodium. Make sure you know how much gold is in your scrap gold pieces as this will determine the amount you will be paid. Also, it would be wise to follow the market on gold prices to determine the best time to sell your scrap gold as prices can be great on one day and not so great the next. Don’t make snap decisions as this may result in a loss and you can’t get that scrap gold back once it’s gone. Remember, research before you sell. Doing a little research is always a good idea, visit the cash for gold insider for more tips and tricks on getting the best prices for your unwanted gold jewelry.