Any One With Experience Selling Scrap Gold & Jewelry?

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Author	Replies: 2 / Views: 1,306
glenmorenee Valued Member United States 314 Posts	Posted 07/27/2023 2:18 pm I have some gold scraps, i.e. broken jewelry, found gold jewelry, gold caps, and some jewelry we'll never wear. We have a pretty large jewelry district and plenty of "We Buy Gold" shops. We were in the district having some jewelry repair done and I asked the fellow about how to sell scrap. He gestured to some shops and said that if I could get around $25/gm for 14kt gold that would be decent and that is the going rate. Spot today would translate to about $37 gm for 14kt so this is about a 30% discount to spot. I watched a few gold and silver scrap lots finish on ebay and they calculate out to pretty much spot. The 10-15% ebay fee would be your your only discount to spot. Anyone with experience selling scrap? Report this Post to the Staff

Pacificoin Pillar of the Community Canada 5405 Posts	Posted 07/27/2023 2:25 pm We buy and sell scrap and bullion all the time in our business . To make a profit about 80 per cent on silver scrap . Gold we pay 85 per cent give or take . Refining fees , allowing for the odd mistake , and having to make a profit all factor in . Report this Post to the Staff
BStrauss3 Pillar of the Community United States 4601 Posts	Posted 07/28/2023 06:25 am If you have enough, contract with a local refiner directly. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ Report this Post to the Staff
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