Scrap gold is any item that has gold in it. Examples of scrap gold include gold jewelry, gold watch, gold pen and etc. The price of gold increases consistently. If you have scrap gold jewelries, you can sell it at a good price in the market and earns profits.
Before you sell your scrap gold, you must calculate its value. You should classified the scrap gold according to its karat fineness. The karat fineness is imprinted on the gold jewelry. If it the karat imprint is too small, you can use a magnifying glass to see it. For accurate measurement, you can bring the scrap gold to the gold dealer so that he can determine the value. If the scrap gold is a gold coin, you should go to the coin dealer. You should also find out the gram weight of the scrap gold.
Once you have determined the value, you should find out the current price of the gold. Many scrap gold sites publish the latest price of gold on the internet. For example, fine gold is $900 per troy. If you have a 12 Kt of gold, the price would be $14.41. The formula for the price of the scrap gold is $28.94 ($900/31.1) x 0.5 (12/24). If you have 20 grams of 12 Kt gold, it will worth $288.62.
Next, you will have to sell your gold to the dealer that offers you the best price. There are a lot of scrap gold dealers who will buy your gold. The local jewelers may offer to assess the scrap gold but offer a lower price. Online gold dealer requires you to send your scrap gold to them through gold kits and envelopes. When doing business with online gold dealer, make sure you take extra precaution to prevent scam artist. Alternatively, you can sell your scrap gold on auction site such as Ebay. When selling on Ebay, make sure you post a photo of the scrap gold so that other people can access the value of the gold.