Things You'll Need:
- Coin, jewelry or postal scale
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Step 1
Place your gold in one pile and your silver in another. Separate the coins and bullion from the scrap -- items such as jewelry, flatware, tea sets and electronic components.
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Step 2
Determine the precious metal content of each item. The purity of gold can be determined by knowing its karat.
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Step 3
Weigh each pile of gold and silver. Record its weight in ounces.
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Step 4
Look up the spot price in dollars of gold and silver. This is what they are selling for that day on the world financial markets.
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Step 5
Multiply the spot price of gold and silver by the number of ounces of each metal you are selling. Be sure to take into account the purity of each group.
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Step 6
Take your gold and silver coins and bullion to several coin dealers. Ask them to make you an offer. If you want a higher price, sell them directly to collectors on auction websites.
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Step 7
Mail the rest of your scrap gold and silver to a precious metal refiner.
Comments
maria122 said
on 8/25/2009 You can try the Silver and Gold Exchange for selling and determining sale value. They have a live price chart on their website at http://SilverAndGoldExchange.com They show the prices they pay for scrap gold and silver as well as bullion and silver coins. They pay much more than anyone else I have seen out there and I had a very good experience with them.
fooshenip said
on 7/17/2009 Thanks for this article. Thank you for help people like me who don't know a thing about selling gold.
starlet67 said
on 7/7/2009 Great info!
sweetspirit said
on 6/23/2009 Love it. Great article.
mfrussell said
on 6/21/2009 We all need this in our economy right now. 5* and a recommend!