How to Process Scrap Gold
You make gold jewelry and now you have a collection of scrap gold. Pieces of accumulated scraps are sitting unused. Scrap gold pieces that are too small to use in a project can be turned into cash or credit for useful goods. Even the smallest piece of gold collected as dust sweepings from the studio can be reclaimed, refined and made into usable precious metal.
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Instructions
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Collect your scrap gold for refining. Separate the scrap gold into clean scrap and dirty scrap. Gold scrap collected from bench sweepings and with solder is defined as "dirty scrap." Clean scrap is gold that is not contaminated. Keep the clean scrap gold as clean as possible.
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Weigh your clean scrap gold.
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Place the clean scrap gold in a plastic bag and label the bag with the gold purity (e.g. 14 kt, 18 kt or 24 kt gold) and the weight.
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Repeat with dirty scrap gold, adding the label "dirty gold scrap."
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Contact the refiner to obtain the form needed to process scrap gold and to inform the gold processor that you will be shipping it.
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Package the scrap gold for shipping. Ship it with a tracking number and insurance to cover the estimated value.
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Complete the form the refinery requires for scrap gold. Most forms describe your scrap gold shipment and how you want to receive credit or payment.
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Contact the refiner to obtain the scrap gold value. Refiners often calculate value based on the gold market value at the time it is processed rather than the date the gold was shipped by you or received by the shipper.
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Tips & Warnings
Refiners often pay more for customers who use credit against new goods rather than customers who want cash for their scrap gold.
References
Resources
- Photo Credit Gold jewelry set image by lune from Fotolia.com
