Scrap gold prices can vary greatly depending on what what area of the process you are trading.
Scrap Gold Prices
The Various Levels
It starts with the spot gold price and works its way down from there.
Someone selling items such as jewelry, class rings or dental gold to
scrap gold buyers
would receive a price of anywhere from 10% to 70% of spot value.
The scrap buyer then sells the gold to a refinery for melt value, or about 90% of the actual pure gold value.
The spread between the 70% buy, and the 90% sell, covers their operating expenses and profit.
Of course, the refinery has the expense of assaying(extracting the pure gold from the scrap). The remaining 10% covers that.
Bullion bars and coins generally command spot price, or just under, when sold to a scrap gold buyer. The reason is, because of the pure gold nature, there is no refining needed.
If the bullion coins or bars are in poor condition, with scratches or blemishes, they may bring a lower price.
As a seller, of any form of gold, it's a good idea to entertain several offers before you actually sell.
The best way for receiving the highest price when you sell is to find a buyer who is an investor in gold.
Visit our Local Buyer Listings to find a buyer in your area.
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