Making Money from Scrap Gold

Posted by daniel rosenfeld

Anything containing gold that has been broken down and not fit for use comes under the category of scrap gold. Some of the common examples are gold teeth, dental fillings, broken artifacts, bars and many other small items. In most cases people are looking to sell these things hoping to make some kind of profit from the deal. In case you have decided to sell scrap items containing some amount of gold, it is imperative that you devote some time in estimating the actual value.

scrap gold

There are several websites where good knowledge regarding value calculation for old items can be garnered. Before the internet, gold buyers enjoyed huge profits from the lack of information prevalent in the general public. Both buyers and sellers had to learn all relating issues and gain knowledge so as to gain anything worthwhile from transactions with gold buyers.

The immediate process employed by gold buyers is to find out more about the karat content of a gold piece. The exact number is usually embedded somewhere in the gold piece, you usually need a magnifying instrument to get a good view. Barring that there are gold testing kits which have become easy to obtain via online sellers. These contain provisions for conducting acid tests on the item. Acid tests bring out the overall quality; these kits usually come with a jeweler’s scale which will determine the exact weight in grams.

The whole meaning behind this exercise is to determine the melt value of gold. There are some great kits available that do all these processes and subsequent calculations so as to get a fair idea about the worth of the material in gold.

Gold buyers purchase broken items directly from people at low prices and then sell them off at higher rate. This is how profits are made in the overall process. You have to be very dedicated to do this kind of work for a living. It’s common for people in this line of business in Queens to buy gold items from friends and other family members along with their contacts for selling in the scrap market at higher rates.

Market values also have a great role to play in buying and selling gold. When gold prices are high people are keen on selling their items as quickly as possible. Queens has developed an interesting in this regard as people have become aware about profit making potential in this sector. Getting robust ground level information remains the key for long term benefits.

Are you in the market to sell your gold and live in Queens? Read our ”sell gold” guide before selling anything.

Luriya, the hot spot for the best gold buyers in Queens. 

Read More:

What Are the Noticeable Characteristics of Gold Coins?

It's Good to Sell Your Gold Online, Even In Manhattan

10 Tips For Selling Gold for Cash - ABC News


Topics: Gold, Selling Gold

March 17, 2017