How do you get the best price for your scrap gold & gold jewelry?

1. Take a pair of pliers and remove any gems and clasps from each scrap gold jewelry piece.
2. Place all marked pieces – 14K, 18K and unmarked in 3 separate plastic baggies.
3. Check today’s scrap gold price at Kitco.com. Calculate the value of each bag’s contents by using the simple formula in our book, “How to Buy and Sell Scrap Gold.” For example, today’s price of spot gold divided by the number of grams in a troy ounce [31.1],and multiply by 14/24  to determine the value per gram. [Example: if today’s scrap gold price is $1250, and you’re valuing 14K scrap the resulting value = $23.44/per gram. You have 15 gms. in your 14K plastic bag = $351.17 in scrap gold.
4. Assume your “unmarked” scrap is 14K.
5. Visit at least 3 scrap gold buyers for estimates. Your goal is 95% in cash to you for your raw scrap value.
6. If you have a lot of scrap and/or unmarked gold, consider investing $25 in an inexpensive scrap gold test kit as described in our 90 page book, “How to Start a Scrap Gold Buy – Sell Business.”