Selling Your Scrap Gold

The other way is to make use of one of a host of gold buying companies that constantly appear on TV and on the net now. These companies will offer you a fixed price calculated on the weight and quality of your gold and will frequently pay out extremely quickly, usually in 24-48 hours.

An additional way to sell scrap gold as long as you are not in quite such a dash is to auction it on eBay. Using this can bring you a decent price but do make sure to weigh, explain and take pictures of your scrap gold for sale.

You will need to offer the gold weight in grams, not counting any type of stones or non-gold jewellery. You would additionally need to discover the carat value of your gold scrap. Nearly all gold jewellery or trinkets designed in the UK is 9 carat or 18 carat and gold sovereigns are all 22 carat. Pure gold is 24 carat value.

Generally gold buying companies will advise you up-front how much each gram they can give for the assorted carat values of scrap gold. It is not likely that any gold buying companies will offer you the total scrap price for your unwanted gold as they have to achieve a profit too. The only means that you may well get above the current scrap worth for your gold is if you list it on eBay, but afterward you have got to shell out sale costs and, as a consequence, you will usually make no more in the end.

The exception to this process, should be if you own much older gold to put up for sale that is in first-class condition or unused gold bars. These things will be worth more than scrap price so you could take this type of thing to a jeweller or else your closest auctioneer for a valuation before thinking about selling this type of thing as scrap.

If you possess any gold that you feel may perhaps be antique it could be advisable finding out what the hallmarks tell you. Every piece of gold jewellery must have hallmarks. These will tell you the carat value of the gold, the location where it was hallmarked, the age and the maker. If you discover an item that displays no hallmarks then it is probably extremely old, really worn or not actually gold at all.

You possibly will be able to uncover the knowledge you want concerning the hallmarks on the net or consult your closest jeweller, or auction house. You can quickly buy a hallmarks book on Amazon. A lot of recent gold items bought in the UK will probably be hallmarked with either .375 which indicates the item is 9 carat, or .750 which will be 18 carat.

Getting to know if unwanted gold items are 9 carat or 18 carat prior to selling to a gold buyer should give you a considerably better perception of what your gold is worth. It is unlikely that you will possess any pure 24 carat grade gold, unless you have tucked any gold bars below the floorboards!

Pure gold is too easily bent to be practical for jewellery or gold coins. Gold that has a lower carat grade than 24 has had other metal incorporated for wear-resistance. The lower the carat grade figure the lower the gold content. Nowadays, mostly silver or copper are combined with the gold to strengthen it.

The most imperative thing to know is that the higher the carat number, the more gold jewellery is worth. So now the scrap rate for 18 carat should be twice that for 9 carat. When you know the carat grade of your gold, the next most critical thing to know is the weight.

It is essential to obtain an exact weight for your old gold...Your kitchen scales can't do the task. You can use a jeweller's scale. If you do not possess one of these, you could get one on the web for a few pounds. Or take the gold items to your nearby jeweller's shop and ask them to weigh it.

You will require to know the weight of the gold scrap in grams. Once you know the carat grade and the weight of your scrap gold it is easy to estimate its worth. For example, if a gold buyer quotes you that they can pay $10 a gram for 9 carat and you sell an old chain, a bangle and a couple of rings that all together weigh 24 grams, it follows that this gold buyer would give you $240.

Obviously, to know when this is a decent offer, you have to understand today's scrap price of 9 carat gold. There are many sites online where you can find this. A few newspapers also contain daily values for gold.

However, the value you find may well be for 24 carat gold and also usually per ounce, not per gram. This calculation is a little more demanding and you will require a calculator.
Divide the price stated of gold per ounce by 31.3 - this will give you the value per gram.
Then divide this result by 24 and multiply by 9 if the scrap gold is 9 carat, or 18 if 18 carat.
This will therefore tell you today's price for your gold per gram.
Then just multiply this figure by the quantity of grams of gold scrap you have and this shows you the actual worth.

Should you notice that the gold buying companies offer is a lot beneath this then go elsewhere or list the gold items on eBay. But you shouldn't overlook that no gold buyer will pay you 100% of the worth as they have to get a percentage for themselves.