Gold is one of the most valuable and sought-after metals in the world. But, did you know that you can also make money from selling scrap gold?
All gold holds some sort of value. However, some often overlooked types of gold fall into the scrap gold category. What’s scrap gold? Technically, it’s gold that no one wants or uses. Nevertheless, you can find and sell this scrap gold for profit. Here’s a look at just what constitutes scrap gold and some of the more common places you can find it.
What Is Scrap Gold?
Scrap gold refers to any gold item that is no longer in use or has lost its original purpose. This can include old jewelry, broken gold pieces, or even dental gold. These items can turn up in a variety of unexpected places.
Keep in mind that no matter what, the gold contents of the item still hold intrinsic value. Scrap gold value comes from the weight and purity of the gold content, just as it does with gold bullion of any other type.
Where Can You Find Scrap Gold?
You can find scrap gold in a variety of places. You may even have some hanging around without realizing it. Here are some common sources of scrap gold.
Old and Scrap Jewelry
Go through your jewelry box, and you might find old pieces you no longer wear. These items can be a goldmine, figuratively and literally. Broken necklaces, earrings missing a pair, or outdated designs can all be valuable sources of scrap gold. This is actually the most common source of scrap gold.
Estate and Garage Sales
Estate sales are excellent places to find scrap gold. You can often discover vintage jewelry or gold coins among the items sold. Keep an eye out for these hidden treasures. And don’t underestimate the potential of garage sales. You might come across old jewelry or gold coins sold at bargain prices.
Pawn Shops, Thrift Stores, and Online Marketplaces
Pawn shops are known for dealing in gold. They buy and sell jewelry, coins, and other gold items. Often, those items sit and no one reclaims them. You may find some valuable pieces at a pawn shop if you keep an eye out. Thrift stores can offer a similar experience. You might stumble on old jewelry priced far lower than you would believe.
Also, check out the plethora of online marketplaces. Many sellers will have vintage, antique, or unique items that contain scrap gold.
Many electronic devices contain gold because of gold’s excellent conductivity and corrosion resistance. Although, the amount of gold in electronic devices isn’t large. You’ll likely need to collect a lot of electronic items to make a profit from the gold materials they contain.
Selling Your Scrap Gold
Now that you’ve discovered some sources for scrap gold, you might be wondering how to sell it. Many services exist that let you sell scrap gold to them.
You may have to abide by stipulations but once you get the hang of the process, finding and selling scrap gold can become quite profitable. This is especially true when combined with other buying and selling of precious metals. Just like you can find scrap gold all over the place, you can also find other precious metals similarly.