Friday, September 25, 2009

How to Calculate the Value of Scrap Gold

How to Calculate the Value of Scrap Gold

If you have any scrap gold, you can sell it, but for how much? Gold prices tend to rise along with worries of war or inflation but before you bring gold jewelry, dental fillings, teeth, nuggets, and bars to a scrap gold dealer's counter (or send it off by mail) you should know exactly what it's worth. Most scrap gold dealers keep the calculation a secret. Here is their formula.


1. Separate your scrap gold into their various karat fineness (i.e. 10k, 14k or 18k). You may need a magnifying glass to see the number inscribed on the piece. If not, you may need to have the gold tested by a reputable dealer. There's also the possibility that some of the gold is actually just gold-plated, which a dealer would determine with certainty by using a chemical test. If you're uncertain, read up on How to Tell if Gold Is Real.

* If you have any gold coins, they may have a numismatic (coin) value above their metal value, based on age, rarity, and condition. Take it to a coin dealer; you may be able to get more money that way.
* Other sources for small amounts of scrap gold include: old cell phones, computer motherboards and other scrap electronic circuit boards.

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1 comment:

Cash for Silver said...

Hi all,

Nice blog! The most important step in calculating the value of scrap gold is the valuation. It is advisable that you get the valuation and karat based grading done from qualified jewelers, in case of products with no printed karat value. If you are aware of the karat value of the scrap gold, you plan to sell and know the mass of each piece measured by a digital balance, you can use the above calculator to measure the value karat wise. Thank you...

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