A portal for the best precious metals resources on the web. Quotes, Charts, Research, Analysis, Mining, News and More.

How To Get The Most Money For Your Scrap Gold - A Comprehensive Guide

How To Get The Most Money For Your Scrap Gold and Which Scrap Gold Buyers Will Pay The Most Money For Your Scrap Gold

A Guide To Scrap Gold
Having recently had the experience of selling some scrap gold of my own I thought a well written guide on how to get the most money for your scrap gold would be helpful.

In this guide I will not only walk you through what you need to know to get the most money for your scrap gold but also list and briefly review all the very best scrap gold buyers on the web. You can also find a handy scrap gold calculator just to your left which we will use in determining the value of your scrap gold and using that to make sure we are getting a fair price from our scrap gold buyer.

The first step in to making sure you will get the most for your scrap gold is having an idea yourself what that scrap gold is worth on the market. Hopefully you have some access to a scale that can at least roughly measure grams. Many postal or kitchen scales will do the job just fine for a rough estimate, which is all we really need.
We will also need to determine the purity, if possible, before moving on (and if you cannot then just assuming 14k, the most common for jewelry, is probably your best bet). Purity can usually be determined on most authentic gold jewelry by its markings. There will most often be a small stamp or engraving on the piece indicating the Karat purity (ie 14k, 18k, etc.).
A more thorough guide on various stamps and markings can be found here.

1) Determine Purity Where Possible
2) Weigh Your Scrap Gold
3) Input Your Weight Found, And Purity Determined Into The Scrap Gold Calculator
4) Know What The Full Market Value Of Your Scrap Gold Is!

Knowing what your scrap gold is actually worth is crucial to making sure you get the most money when selling it to scrap gold buyers. But keep in mind, this is not what any scrap gold buyer will actually pay you for your scrap gold! This is the full retail market price. If you stick with this guide, however, then there is no reason why you should get any less than 85%+ for your scrap gold. More when selling quantities over one ounce.
Quantities over one ounce also always command higher payouts regardless of the refiner, reaching as high as 95-96% for larger quantities.
To arrive at your estimated payout simply multiply the listed payout percentage for your scrap gold buyer by the market price found using the scrap gold calculator. ("Calc Output" * 0.85 = your payout estimate).

Remember to keep this number handy and compare it to your offer from the scrap gold buyer when it comes and if the offer is significantly lower than the estimate we arrived at there is likely a problem and you should investigate further before accepting the offer. All reputable scrap gold buyers will give you a grace period to consider their offer. If they don't, run fast.

You should not accept any offer that appears to be below 80% of the market value for amounts under 1 ounce. And for quantities over 1 ounce anything under 88% should be easily rejected. For those few selling quantities of multiple ounces you should not take anything less than top dollar, at around 95-96%

Well now that we know how much money we should get for our scrap gold, which scrap gold buyers will give it to us? Below we list all the very best scrap gold buyers/refiners on the web, along with brief review, ratings and links to each. All the scrap gold buyers below have been carefully researched (and in two cases personally used) and represent the best of breed, guaranteed. There are, of course, plenty of questionable (and possibly some decent) outfits willing to buy whatever scrap gold you may be willing to sell them.
We believe you shouldn't need to go beyond this great list of companies but if you, please just make sure you do your own research first before using whatever companies you may find.

Express Gold Cash - Top Buyer - And Our Top Pick
Pays 90-95%+ for > 1 oz. and 80-85% for < 1 oz.

Cash for Gold USA - Top Buyer - And a very close 2nd for CashforGoldUSA
Pays 90-95% for > 1 oz. and 85%+ for < 1 oz.

NowGold - Acceptable Buyer
80-85% for < 1 oz. and 90%+ for > 1 oz. Plus a "offer + 10%" price match

Cash4Gold-USA - Acceptable Buyer
Pays 80-85%+

Cash4Gold - Top Buyer
Pays 90-95%+ for > 1 oz. and around 85% for < 1 oz.

Empire Gold Buyers - Top Buyer
Pays 90-95% for > 1 oz. and 80-85% for < 1 oz.

Cash For Gold Co - Acceptable Buyer
80-85% for < 1 oz. and 90%+ for > 1 oz.

Midwest Refineries -  Top Buyer
Not flashy, not large. But old, trusted, with high payouts at 90-95%+

Northern Refineries - Acceptable Buyer
95% for > 1 oz. Full service with other precious metals.

US Gold Buyers - Top Buyer
Pays 90%+ for > 1 oz. and 80-85% for < 1 oz.

Gold Pawn Shop - Acceptable Buyer
Very fair graduated payout scale based on weight < 10 oz. 85%+

SellYourGold - Acceptable Buyer
Pays 85%+ More for larger amounts.

GoldFellow - Acceptable Buyer
Pays 80-85% Reliable buyer but not the best payouts.

GoldKit.com - Acceptable Buyer
Service is fine but payout amounts appear erratic.

Good Luck! Get The Most Out Of Your Scrap Gold!