Scrap Gold Price 2011

Scrap Gold Price








The
supply of recycled gold, or scrap gold, is an important part of the
dynamics of the gold market and depends largely on economic
circumstances and on the behavior of the gold price. It has been noted
that the gold scrap supply typically rises in times of economic distress
or following a price rise.

What is the Scrap Gold Price?
The scrap gold price varies from day to day. As the price of gold climbs, the value of scrap gold climb also.

To sell your scrap gold you need a scrap gold price and someone to buy it.

The
first thing to find out is, what is the current price for spot gold?.
This can be found in the charts at the top of the page.

Second
you need to find a dealer who buys scrap gold. There are many of these
around and most of them will pay you about 10 to 20 percent less than
the current market value of gold. There is a penalty for selling your
gold at scrap price. The dealer has to process the gold you sell him
and wants to make some money on the deal as well.

Keep in mind
that alloyed gold (less than 24 karat) will fetch proportionately less.
In other words you will not be able to sell a 9 karat gold necklace for
the same price as a 24 karat gold necklace. The closer to pure gold you
are selling the better price you will get of course. Apart from the
fact that for a lower carat item there is less gold, there is also an
extraction process to pay for.

However, to off set that there is
often other precious metals which may be extracted. Silver, platinum,
rhodium. If you suspect that other precious metals are present with the
gold then you would be looking to get a price on those also. For
example, with gold fillings often you will find platinum and palladium.
Get a price for these are platinum, for example, has a higher price per
ounce than gold.

How to Sell Gold Scrap
It
is quite possible to get a very good scrap gold price for all your old
and unwanted gold. Gold is virtually indestructible so unless it has
been lost, all the gold ever mined still exists. With the right
equipment, it is very easy to recover gold from even the most complex
mixes. from most of the uses it has had since it is capable of being
melted down, re-refined and recycled.

The type of scrap gold one
can sell includes the various karat densities as found in jewellery,
such as rings, chains, bracelets and earrings for example, from 8,
through to 22 and 24 karat gold. Also the 16K dental fillings, gold
teeth, bridges, crowns, etc. Other gold such as gold nuggets, pure gold
coins and bars are also welcome at gold scrap dealers. In fact just
about anything that has gold in it will be accepted.

Remember
also, the scrap gold price will change from day to day and when you
decide to sell, you should make an agreement with the dealer to accept a
specific price otherwise some dealers will only pay upon receipt of the
gold and if it has dropped you would lose out.

Of course, on
the other hand, it may rise. In any event, you can easily find a scrap
gold price for your old unwanted gold and recoup some value from it.

If
you have a dealer willing to buy close to home it is simply a matter of
taking the gold and getting a price for it. If there is no one
suitable you will have to send the gold away for a quote. There are
many reputable dealers who will do this and mostly they will, when
requested, send you a special envelope to put the gold in. this
envelope should be registered and require a signature when you return it
and , of course, should be insured.

After the gold scrap dealer
has assessed the gold you sent, you will get a phone call or email to
contact their representative who will then discuss the price they will
pay for your gold. If you are satisfied with it, they will simply send
you a check. If you are not they will return the gold.

How to Buy Gold Scrap
Of course it is possible you may want to buy gold scrap.

In this case you would probably be interested in pure gold, unless you have the facilities to extract gold.

However
most jewelry, for example, comes with the gold mixed with other metals,
such as silver, copper, even platinum and palladium and rhodium (in the
case of white gold). The gold purity is expressed as follows:<blockquote>24 karat is 999.99 fine
22 karat is 916.6 fine
18 karat is 750 fine
14 karat is 585 fine
9 karat is 375 fine</blockquote>24
carat is pure gold with nothing added. This is the purest gold
available. Also has a fineness of 1000 but this is expressed as 999
being 999 parts per 1000. This is because it is very difficult to get
real pure gold with absolutely no impurities and possible is for legal
reasons also. This applies to gold coins a lot. Canadian maples, for
example are listed as 99.999% purse gold.

There are other
hallmark standards available as well as the above but these are the most
common. It tells you how much gold there is in a gold piece. 14 carat,
for example, is 585 parts gold to 415 parts other metal. This is
important if you buy gold scrap, or any gold for that matter.

18
carat gold is more popular for gold jewelery with a 75 percent gold and
25 percent other metals ratio, usually silver or copper or a mixture of
both.

The 14 carat standard is used more extensively in industry
and for such things as pen nibs, circuit boards etc. It is also used
in such jewelery as bracelets where more durability is required due to
more use.

There is also a 10 carat, containing 41.7 percent gold
and known therefore as 417. This is really just a cheaper version of
the 14 carat and used for cheaper jewelery.

When it comes to
the gold scrap price, whether you buy or sell gold scrap, it is
important to know how much gold there is in the piece.