Have you ever tried to sell scrap gold? Maybe you are one of those who are afraid to sell scrap gold because you are unsure of the best price you can get. Here are some tips so you can sell it at optimum value.
The first thing you should know before you sell is that the price of gold tends to go up when the inflation rate goes up. It also increases when there is news of war that may affect the country. You may find it hard to get the best value for your scrap gold though because gold dealers do not usually make public how they appraise its value. It seems to be a trade secret that is closely guarded, much to the detriment of the public.
One way to find out the quality of scrap gold is to examine it with a magnifying glass. You may find the value stamped in fine print on a portion of the piece. If the piece doesn’t have the stamped value, you may have to find a gold dealer willing to give a reasonable estimate of the real value. That is the difficulty when you sell scrap gold.
If you prefer to test your gold piece by yourself, you can search online for the chemical testing kit which is usually sold by jewelry suppliers. This chemical testing kit is composed of a certain acid plus a stone. The way to test for quality of the gold is to rub your gold piece on the stone then drop some of the 14k acid on the stone. This test will determine if your gold piece is 10k, 18k or 22k. The 14k acid will not change the color of the gold rubbed on the stone if the gold piece is 14k in value. The color of the gold on the stone will be brown after the acid drop if your gold piece is 10k in value. If the gold color on the stone completely disappears, sad to say but your gold piece is not made of real gold.
You can also sell scrap gold coins if you have any, based on the numismatic value of the coin. This numismatic value is different from the metal value, and is based on how rare your coin is, the age of the coin, and how well preserved it is. Take note that a gold coin dealer might give you a better price than if you simply sell scrap gold to a regular gold dealer.
If you want to invest in a jeweler’s gram scale, this may help you compute for the gram weight of your gold pieces. But this may be impractical if you only have a limited supply of gold to sell. The measure of fine gold is in troy ounces, with one troy ounce equivalent to 31.1 grams.
Before you go sell gold for cash? How do I know if the place I am dealing with is reputable?Â You can trust the experts at Silver & Gold Expressions in Binghamton NY.Â They are in good standing with the BBB and even have an online payout calculator.