- Personal Finance
Scrap Your Gold And Silver And Get Free Money!
There are so many old Gold and Silver bracelets, rings and necklaces laying broken in your house, piling up over the years, until you don't even remember buying them. Well, take them out and get yourself some FREE MONEY! Yep, you heard me. Now listen to what I have got to say!
There are many ways to sell your silver and gold jewellery for scrap. You can take it too a scrap metal dealer or you can sell it to the enormous amount of companies who have jumped on the band wagon in these days of recession, and set up loads of online sites to try to make you part with your earrings, watches bracelets and rings. But which is the best way to do it? And how do you trust the companies involved? It's your money. It's also your investment. So what do you do?
Here we will look at the various options that can give you the most money for your gold and silver, and more importantly, see what is best for you.
We want to make sure the items that were given you as gifts or that you earned with your own hard work, will give you the best return that you can.
In a nutshell, you want to make some money.
Before You Sell Your Gold And Silver For Cash.
Recently on TV. There have been a lot of Adverts stating that if you send this firm or that firm your gold and silver, they will exchange it for cash. What does this mean? And more importantly, what is in the whole deal for them?
Obviously the companies in question are going to want to earn something from the deal. They are not doing it as a favour for you. So therefore there must be money, in fact quite a lot of money, within the circle of buying and selling.
For example. You send them your gold and silver jewellery. The company then will sort it out into the various Carats, weigh it up and then pass it on to someone else. They get paid, then they pay you.
What's wrong with this option? Well, nothing. but do you really want someone else doing the job that you are quite capable of, albeit that you may have to learn a little about the process? No, I didn't think so.
A Little Bit Of Learning Goes A Long Way.
So what do you need to learn about selling gold and silver. Well for a start there is the knowledge about how to tell how pure the gold and silver is. This is measured in what we call Carats. Or as they spell it in the States and Canada, Karats.
A Carat is a measure of the purity of gold alloys.
24 Carat gold is 99% pure. 22C is 91%. 21C is 87%. 20C is 83%. 18C is 75%. 15C is 62%. 14C is 58%. 10C is 41%. 9C is 37%. 8C is 33%. And last is the 1C which equals 4%.
So you can see there is quite a lot of difference.
I stated above the fact that gold and silver where measured in Carats. This was to explain that each metal has a particular marking that proved it's worth. Old silver was measured in the same way as gold, i.e. Carats. Now the system has changed over the last hundred years or so, and Silver is now measured in something called the millesimal system. I am sure that you will recognise it.
Fineness Common name Purity Weight.
999 Fine or Pure Silver 99.9
958 Brittania 95.8
925 Sterling Silver 92.5
800 Jewellery Silver 80
You can usually tell Pure Silver by the fact that it is very soft. There is an alloy added to make it durable for jewellery. The alloy is usually Copper, and sometimes Sterling Silver is added which has even more Copper put in it.
So you can see how easy it is for a Scrap Metal Dealer to see instantly how much it is worth, and measure it accordingly.
Your Choice But Be Careful.
In these days of fast buying and even faster selling, the gold and silver online companies, or TV adverts suggesting you send them your jewellery, are relying on the fact that you are so busy in your everyday life, it will be easier for you to send it to them to sort out. And they may be right. So what if they earn a bit of money out of it, they are doing the job for you. That's why I am giving you the option here to decide what is best for you.
If you decide that you want to sell your gold and silver through a company, there are many online that will do the deal for you. Please make sure that they company is a genuine one and has proof of delivery. The trouble is that in this day and age, anybody can jump on the bandwagon, and you can easily be conned by an unscrupulous dealer or firm. There is nothing to stop them advertising, Gold and Silver for Cash! and then getting your jewellery and not sending you the money.
Whilst researching this I came across a forum that was set up for just this sort of thing, and the one thing that they all had in common was the fact that, after handing over lots of gold and silver jewellery, they were receiving up to 600 pounds or dollars LESS than if they had just learned a little bit about it and taken it to a Scrap Dealer themselves! That's a lot of money!
Buying Gold And Silver For Cash!
And so on and so forth. I think you get the idea. These are just a few of the sites mentioned. I have no idea whether they give good value or not, so it is up to you to find the best. But Before you do, I have just one more thing to add.
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GOLD AND SILVER PRICES!
This is probably the most important part of this article! Making sure that you know your stuff! What's the point in sending off your lovely jewellery to someone else, and trusting them to send you loads of cash if you have no idea what the price is on the Scrap Market value? So I have given you the most up to date list at the moment. It does change, and the value drops but also goes up, but the general term of things, this list is the most relevant at the moment. Obviously take into consideration different countries and different markets.
Prices per Gram.
Gold Per Gram £9.26-$14.26
Silver Per Gram £0.30-$0.46
50 Grams = 1.76 oz
So know you know the prices, why bother sending your gold and silver to a company that will sell it for you?
So what should I do?
Make sure you buy yourself a set of scales. I am not talking about the ones that you stand on! Oh no, I am talking about the small scales that you set on the table. You can buy the old fashioned balancing scales or the modern electronic ones. Obviously the best will be the electronic scales. They will be more accurate.
Do remove any plastic or non gold or silver from the jewellery before you take it to the scrap dealer, for two reasons. The first being that if he has to do the job himself he will give you a lower price. And second, you must always make sure that you put all the right gold and silver together.
For example. 24 Carat gold should only be mixed with 24 Carat gold. Never mix them up it will be regarded as second grade, and your money will be half of what you expected. make sure it is pure 24C or 18C. The same with the silver.
Then just bag it up, and drive to your nearest scrap dealer. Simple.
YOU GET FREE MONEY FOR NOTHING!
Well, maybe not nothing, but let's face it, what else were you going to do with that broken gold necklace? Or the silver bracelet that was laying in the drawer for ten years? Huh? Well?
Yes, you have got it!
So get looking, you never know what you will find!
Do It Yourself!
So, just a final word here. Do you want someone else to have your money? no? Then make sure that you DO IT YOURSELF! Take it to the scrap yard and get your own money. If you are not sure about how much it is worth, or you don't know how to weigh it properly, why not ask your local Jewellers to weigh it for you? I am sure they would be pleased to help you. And in fact some of them may even buy the scrap metal gold and silver off of you!
So, Good Luck!
- Scrap Gold - Sell Your Scrap Gold, Gold Coins and Scrap Jewellery
Scrap Gold - Sell your Scrap Gold to a Birmingham Jewellery Quarter based Scrap Gold Buyer - Use our Scrap Gold Calculator to estimate the value of your Scrap Gold Jewellery