How to Sell Scrap Gold in San Diego, California

Selling scrap gold is a popular activity. Some people sell the extra gold or damaged jewelry they have at home. Others treat the activity as a business, buying gold at a low scrap rate, then selling it elsewhere at a higher price. Whichever category you fall into, San Diego is a city where you can sell your scrap gold and earn a decent profit in the process.

Difficulty:

Easy

Instructions

1. Start by weighing your scrap gold so that you will know precisely how much gold you have. Use a digital scale to weigh your gold. This will allow you to know how much your precious metal weighs, down to the tenth of a gram.

2. Check with local gold buyers to see how much they will pay for your scrap gold. These companies typically buy scrap, which they melt into bars, and eventually use your gold to make new items. The two main companies to talk to are San Diego Jewelry Buyers (619-239-0900) and San Diego Coin and Bullion Corporation (858-569-5222).

3. Place a classified advertisement in the local newspaper to announce that you have old gold available. Many people buy and sell scrap gold as a second income, and the classified ads are one of the places they look for gold to buy. The San Diego Union-Tribune is the main newspaper to advertise in. You may also want to carry an ad in the San Diego Reader, which is a free newspaper distributed across the city every week.

4. Offer your scrap gold to local jewelers. Many jewelers will buy scrap to use in their jewelry making process. They are particularly interested in scrap jewelry, which can be restored to its original condition. Not all jewelry stores will buy old gold, so call ahead before visiting your local jeweler. Some of the main jewelers that buy scrap gold in San Diego are Old Mission Jewelry (760-489-0218), Roberto’s Jewelry (619-477-6666) and Gold Endures (858-459-7803).

5. Sell your scrap gold on eBay. If no one in San Diego will pay the price you are asking for your gold, then expanding your offer on a national level may yield better results. One way of doing this is to use online auction sites. The best thing about auctions is that the item will be sold to whoever is willing to pay the highest price, and if you have multiple people interested in your auction, you could see some active bidding taking place in the closing minutes of your auction.

Tips & Warnings

• Unless you are selling several hundred grams of gold, avoid using mail order companies, such as GoldKit.com or Cash4Gold.com. These companies typically pay a fair rate if you are selling at least 10 troy ounces (310 grams) of gold, but any order smaller than that will usually result in you being paid a tiny fraction of the melt value of your gold.

Resources

• San Diego Jewelry Buyers
• San Diego Coin & Bullion Corporation
• San Diego Union Tribune
• San Diego Reader
• Gold Endures