Who Buys Scrap Gold?
Scrap gold refers to gold pieces that people wish to discard. People may choose to sell broken chains, old earrings, rings or charms that they no longer wear as scrap gold. Fortunately, gold–which is a precious metal–will always retain its value. This means that any piece of gold jewelry can be melted down into made something else.ConsiderationsAccording to MSN Money, people should be aware that if they sell gold jewelry at scrap value they will lose much of the jewelry’s retail value–up to 75 percent or more of the value. Dealers buy gold jewelry based on the value of the metal alone.WarningAccording to Market Watch, consumers must select their gold buyer with care in order to avoid dishonest companies. Market Watch recommends checking with the Better Business Bureau’s website to research a company before committing to sell scrap gold.AppraisalIndividuals should also consider credentialed appraisers when choosing to sell their scrap gold. The American Society of Appraisers and the
