When it comes to making some extra cash, you will find that selling scrap gold can be a great way to earn money with items you have lying around your house. While the scrap gold prices will vary from buyer to buyer, you can usually get a fairly consistent price for anything that you have around your house that contains gold.
Scrap gold literally means any items around your home that has gold in them. This can be anything from earrings to bridges to findings to nuggets to shot; as long as there is gold in the item it can be sold. It doesn’t matter how old or beaten up the gold is, buyers will buy the scrap gold without a moment’s hesitation. The scrap gold prices buyers will pay for your gold will often depend on the condition of the gold, but many buyers will buy scrap gold regardless of the condition.
The reason that scrap gold is so popular is due to the fact that gold is one of the most stable and valuable commodities on the market. The prices of oil tend to be more volatile than gold prices, meaning that people will pay good money to get their hands on gold. Scrap gold can simply be melted down into liquid gold, which can then be cast into new pieces of jewelry and gold items.
If you want to get the best scrap gold prices for your pieces of scrap gold, there are three places that you should check out:
- You will usually find that local jewelers will be interested in purchasing your scrap gold. This is only for those who need money in a hurry, as the prices offered by these local jewelers will usually be much lower than other places.
- There are a number of gold dealers that exclusively work online. These dealers may be more interested in purchasing your scrap gold, and they will likely offer you a better price than local jewelers. Be wary when doing online deals, as there is a great risk that you could fall prey to a gold scam.
- If you have time and know how to use the internet, you may find that eBay or Craigslist can be excellent places to sell your gold. Selling gold in an auction on eBay may actually get you the best prices for your gold, and Craigslist may enable you to find someone who is interested.
There are three major factors that affect the prices for your scrap gold:
1. The buyer will usually make an offer, but the offer will vary according to the buyer.
2. The karat and purity of your gold will directly affect the price.
3. The price of gold at the time that you are selling will also play a big part.