April 19th, 2012

Scrap Gold | Calculating It’s Value

Scrap Gold - Sell It Now?

Scrap Gold

Have you been considering selling your scrap gold? If so, then you have come to the right place. There are many people who have been trying to figure out how much they can get for their gold before they sell, and that is wise. I want to share with you how the value of scrap gold today is being calculated so that you have some idea of what you can expect to make on the gold you sell.

Scrap Gold | How the Economy Effects the Price

If you have ever wondered what affects the price of scrap gold, don’t worry-we can help you figure it out. The gold market is directly affected by the economy, meaning that the gold prices go up when the economy is flat.

With that being said there are many different things that you can sell to get paid in cash including, gold teeth, fillings, cell phone parts, nuggets, bars, and much more. You just really need to educate yourself so that you know what it’s worth in order to avoid being taken at the dealer’s counter.

One of the very first steps that people always miss is to organize and separate their gold by karat. If you bought it at a jeweler, then you probably know what karat it is already, whether it’s 14k, 18k, 22, or even 24k. If you cannot see the hallmark, then you can take it a local jeweler and have them assess it. They can use a magnet to test it or they can also do the acid test to find out how well the gold holds up to the acid. Then, you will have your answer!

Scrap Gold | Separate Gold Coins from Your Gold Jewelry

When it comes to separating all that you have found in your bedroom or even under your car seat, then be sure that you separate the gold coins from the gold jewelry. They are not the same, and of course your gold bullion is a different grade than almost all jewelry.

Why? Remember, when gold jewelry is marked with 14k, 18k, 22k, 24k, and higher, it’s representing the fact that the piece is not 100% gold. With that being said, remember too that bullion is what you can trade with, and it’s your insurance against super inflation.

This is why many folks are buying gold bars versus buying gold coins. In rare cases, there are folks who have been collecting gold coins over the years, and now desire to trade them in for bullion. As I said, this doesn’t happen often, but those who see the value in buying bullion and saving it for a later time have been doing so.

Scrap Gold | Get Your Gold Weighed!

Remember folks that when it comes to selling your scrap gold, that you should not only take these other steps, but you should also get your gold weighed up in order to determine what  you can sell it for. If someone takes it away and weighs it in another room, that is a red flag!

Are you ready to sell your personal items and jewelry to try and make some money? What if I told you that you could sell gold bars and start making money so you don’t have to sell sentimental items? You can start your journey of building a business and making more money without selling your scrap gold when you click here!

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