Selling Scrap Gold

Gold recently surged to around a thousand dollars an ounce. Many people who raced out to sell their scrap gold didn't have a clue about how the value of scrap gold is calculated by the buyer and may have ended up accepting less cash than they could have received.

If you're not aware of the rules of the gold game you can lose some serious money in a hurry when trading gold. There are a number of scales, formulas, and calculations, used to determine the value of scrap gold that most sellers aren't familiar with and not all buyers operate the same way. The local antique dealer may have a different method to value scrap gold than a jeweler or a pawnbroker.

Most gold brokers use the pennyweight scale to place a value on your scrap gold. The pennyweight scale can be quite confusing to someone that has never been exposed to it and there are a number of ways it can be manipulated in the buyer's best interest. You will always get a better idea of what your scrap gold is worth at the retail level if your gold is measured and valued in the gram scale. Unfortunately most people don't have a concept of what a gram of gold is and without a working knowledge of the gram it's easy to underestimate it's value. Recently a gram of gold was worth $32.00. Some speculators believe this is just the beginning of a surge in the price of gold and it will be worth even more soon.

If you decide to sell your gold you should be aware you would be much further ahead if you deal directly with the smelter or the refiner. By eliminating the middleman you will realize a far better return on your scrap gold. Of course you must use due diligence and choose a refiner with a reputation you can trust. The Better Business Bureau is a good place to start if you decide to deal directly with the smelter.

Most people make only a few scrap gold trades in their life and unless you understand the rules of the game it's likely you will lose. In every trade there are winners and there are losers. The category you end up in usually depends on the amount of knowledge you bring to the table.

If you are considering selling your scrap gold you need to understand how a buyer arrives at a cash value for your little treasure. If you are clueless about how scrap gold is calculated you need to understand the fundamentals or you could lose a small fortune and not even know it.

Don't be asleep when you sell gold. What you don't know can definitely hurt you. Do your homework before you sell your gold. If you wait until you are in the gold buyers domain to understand the basics of the transaction it will be too late. The value of scrap gold can be mysterious and confusing but with proper preparation and knowledge you will come out ahead.
Learn how to get the best price before you sell your gold. Scrap Gold Secrets will show you how. http://www.scrapgoldsecrets.info

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