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Scrap Gold - Facts to Know Before You Sell


26 Apr 2009  

The supply of scrap gold or recycled gold varies with economic conditions. In tough times the supply increases. Prices vary from day to day, depending on the spot price of the commodity.

You can sell old jewelry/dental fillings over the Internet or through the mail. If you choose to sell locally, check out pawn shops and jewelry shops that offer this service. You will not get the full price when selling. Usually you will get 10 to 20 percent less from a dealer. The dealer must process the scrap, so he incurs costs.

Beware of some companies that offer cash for gold. These sometimes offer to buy well under current prices.

Many different things can be considered scrap. Dental fillings, teeth, rings, earrings, and chains are all accepted. How much you will get for your piece depends on the amount of gold within the item. Highest grade is 24 karat, which is 99.999% pure. Next on the scale would be 22 karat, then 18 Karat. 18 karat is only 3/4 pure. Lower karat items will have lower prices.

If your old scrap is mixed with other metals, the final price will be affected. Silver, platinum or palladium are often mixed in with tooth fillings. Platinum can sometimes get a higher price. Get a separate price for these metals.

Getting a quote is easy from a local dealer. If there are none available, you can send your pieces by mail. A safe process requiring signatures. Once you receive a price, you can accept it or have the company return your stuff. You are not forced to sell. A check will then be sent to you.

When selling gold, make sure to check out if there are any complaints against the company. Some companies vastly under-price, leading to many consumer complaints. A few minutes on-line, investigating the firm will help you from getting ripped off!

Visit How to sell Gold Jewelry and Where to sell Gold for more current information on how to sell scrap gold. Remember it pays to shop around, even when selling gold!

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