How to Sell Scrap Gold

In these tough economic times, we all need a little extra cash. If you can't get a job or dont' make enough at the one you have, you may be evaluating your belongings to see what you can part with. Jewelry and other trinkets are often the first such items to go, as they can be valuable. If you have scrap gold, you might be able to sell it for a great profit.

Difficulty: Easy

Instructions

1. First, you must figure out how much gold you have and how much it is worth so you don't get scammed. Figure out how many karats each piece is worth. Usually this is printed on the item, or you can have a jeweler evaluate it. Then weigh the items in grams. Divide the karat number by 24 and them multiply it by the weight in grams. Research what the current price of gold is, and multiply this by your final weight of pure gold.

2. Once you know how much your gold is worth, seek out a reputable buyer. We've all seen the advertisements for Cash4Gold on TV, but there are many other buyers online. Always check with the Better Business Bureau before sending your gold to anyone. If doing business with this sort of company makes you nervous, check with local jewelers and pawn shops that buy scrap gold. They might even give you a better deal.

3. Finally, if the scrap gold items you are selling include jewelry, you might be better off selling the jewelry as it is rather than to a scrap dealer. Have it appraised by a jeweler and compare that amount to the value of the scrap gold before making your final decision.