Scrap Gold prices are a fluid thing. They start with the spot gold price and work their way down from there. In fact, depending on who you ask, they can be anywhere from spot price down to 10% of that.
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.
But 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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