Selling scrap gold can be a great way to turn old, unused and even dirty gold necklaces, gold watches, gold decorations and anything else gold into cash. Once you have found the right price for your scrap gold, you simply have to post it to the gold dealer and they will melt your gold, remove all impurities and turn this purer gold into something useful. Because gold can be melted and purified, ‘cash for gold’ dealers are willing to buy your scrap gold for a high price (if you go to the right place!). The price of scrap gold does vary from dealer to dealer, but this page has been made to help you to negotiate the most for your scrap gold and even includes a scrap gold calculator!
Calculate the Price of your Scrap Gold
The price of scrap gold calculated below is based on the current price of gold that is updated every 30 minutes. For the few visitors that are from the US, you are able to calculate the value of your scrap gold in USD as well as GBP. If you are not sure what karat to select for your scrap gold, use the hallmark chart to identify the marking on your gold. The hallmark is usually found on the inside of your scrap gold jewellery or on the base or bottom of any scrap gold items such as a gold ornament.
Why is my Scrap Gold cheaper than the Gold Price?
The price displayed after calculating the price of your scrap gold is going to be marginally different to what you can get from a gold dealer. Because you are unable to sell scrap gold on the market its value as a commodity is effectively zero. To make your scrap gold valuable again, it must be melted down and purified so that it can be sold as high quality gold in the form of gold bullions, coins and gold bars. There is a large cost involved in melt scrap gold and so this cost must be placed largely on the consumer (the owner of the scrap gold). This means that the price per gram or ounce of scrap gold is often 80% to 90% of the actual value of gold at that point in time. This should not sway you from selling your scrap gold as unused gold is in effect worthless (outside of collectability and sentimental value).
Negotiating the Price of your Scrap Gold
For many scrap gold dealers, the price can be negotiated by a small amount. The market is very competitive and gold dealers are very keen to get hold of your scrap gold. You can always quote the actual gold price that is listed here to help your cause.