With Gold at Near Record Prices, Now is the Time to Bring in Your Gold Scrap

With Gold at Near Record Prices, Now is the Time to Bring in Your Gold Scrap - assortment of gold jewelry

With gold at near record prices, now is the time to bring in your gold scrap — old or unused gold that you own — and cash in on it.

Whether it’s broken jewelry, dental fillings, or old coins, you can turn these items into cash quickly and easily. And now’s the time to do so for maximum profit.

Common Examples of Gold Scrap

Here are some common examples of items that have value as gold scrap:

  • Broken Jewelry. If you have broken or outdated gold jewelry sitting in your drawer, it’s time to turn it into cash. This includes rings, chains, bracelets, earrings, charms, and pendants that are no longer wearable or fashionable.
  • Dental Gold. Dental fillings, crowns, and bridges often contain gold and other precious metals. Even small amounts of dental scrap can add up to significant value when sold to a reputable buyer.
  • Old Coins. You can get a premium price when selling rare or collectible coins made of gold. But you also can sell common coins containing gold for their metal value. Check your coin collection for any gold coins you may have inherited or acquired over the years.
  • Gold Watches. If you have broken or unwanted gold watches, whether they are designer brands or generic timepieces, you can sell them for their gold content as well.
  • Gold Bullion. If you have invested in gold bars or coins as a hedge against economic uncertainty, you can sell them when prices are high to capitalize on your investment.

The Process of Selling Gold Scrap

If you’re ready to cash in on your gold by selling it, here’s the process for doing so:

  1. Research Potential Buyers. Start by researching reputable gold buyers in your area or online. For example, California Gold & Silver Exchange is located in Upland CA and serves Upland, Glendora, Ontario, La Verne, Montclair, Claremont, and San Dimas. Look for a local business with positive reviews, transparent pricing, and a commitment to fair and ethical practices.
  2. Gather Your Gold Scrap. Collect all your gold scrap items and separate them by karat purity if possible. Gold purity is measured in karats, with 24 karats being pure gold and lower karat values indicating a lower gold content. For example, 14 karats is 58.5% purity, while 8 karats is 33.3%.
  3. Get an Appraisal. Take your gold scrap to a reputable buyer for appraisal. The buyer will evaluate the purity and weight of your gold items to determine their value. Make sure the buyer uses accurate and up-to-date scales and testing methods. As a point of reference, California Gold & Silver Exchange uses an XRF X-ray Analyzer to properly evaluate your gold scrap.
  4. Receive an Offer. Once your gold has been appraised, the buyer will make you an offer based on the current market price of gold and the purity of your items. You are under no obligation to accept the offer if you are not satisfied with the price.
  5. Negotiate if Necessary. If you feel the offer is too low, don’t hesitate to negotiate for a higher price. However, keep in mind that the buyer needs to make a profit as well, so be realistic in your expectations.
  6. Get Paid. Then, if you accept the offer, you will receive payment for your gold scrap. Depending on the buyer, you may receive cash, a check, or a bank transfer. Make sure to get a receipt for your transaction.
  7. Consider Your Options. If you’re not in immediate need of cash, consider holding onto your gold scrap until prices rise even further. However, keep in mind that gold prices can be volatile, so it’s essential to weigh the potential risks and rewards.

Cash in on Your Gold Scrap Today!

With gold prices near record highs, there has never been a better time to sell your gold scrap for cash. So, follow the steps outlined above to ensure a smooth and profitable selling experience. And don’t hesitate to reach out to trusted gold buyers like California Gold & Silver Exchange to get the best price for your gold scrap.

Call (909) 985-4653 or click here to contact us for current prices.

Check out our FAQs for more answers about selling gold scrap.