How To Buy Scrap Gold For Profit Info

Once you’ve accumulated enough, you have two main exit strategies:

Faster than a refiner but they take a bigger cut, usually paying you 80%–85% of the melt value. 5. Common Pitfalls to Avoid how to buy scrap gold for profit

Look for "junk" jewelry jars; sometimes real gold is mixed with costume pieces. Once you’ve accumulated enough, you have two main

Never rely on a "14K" stamp, as many items are counterfeit. You’ll need: Never rely on a "14K" stamp, as many items are counterfeit

To look for hallmarks or signs of "wear-through" where base metal shows under gold plating. 3. Where to Source Scrap

Real gold is not magnetic. If it sticks, it’s likely steel or iron with a thin plating.

Before buying anything, you must know the —the current market price for 24k (pure) gold. Since scrap is rarely 24k, use this formula to find the value of a piece: