Sell Scrap Gold For Top Cash

sell scrap gold nyScrap gold is essentially any form or type of gold that can be refined and recycled in order to put value back into them. This doesn’t mean that your scrap gold has no value. It was more expensive in the past when scrap gold refining had to be done manually by your local goldsmith, but that is no longer the case. Before you go about and selling your scrap gold however, there are a few things that you would want to consider in order to maximize your profit. Let’s have a look at some of the things that you should keep in mind when selling scrap gold.

Separate Scrap Gold by the Karat

If you are in the possession of old jewelry and other types of gold, it would be best to separate and organize them by their karat in order to get the most accurate estimate on its value. This will allow you to remove the jewelry that may not be gold but still hold its own high value, such as silver, platinum, and other precious metals or materials. If you’re unable to distinguish its karat weight, using a magnifying glass or bringing them in to get tested by a gold dealer will be helpful. Having a chemical test on your scrap gold can allow you to find out if it is actually gold or if it is only plated in gold.

If any of your gold in your possession was created before 1980, it’s going to be slightly below the current market value. The reason behind this is because the laws on grading karats have changed since then. A gold possession valued at 18k before 1980 will most likely be around the 17k to 17.5k range.

Separate Your Gold Coins From Your Other Gold

Gold coins have a slightly different value system that may give it a higher value than typical gold. Some of the variables that determine its value is its rarity, condition, and age. Because of this, you should separate your scrap gold from the rest of your valuables. Bringing your gold coins to a coin dealer is your best option.

Helpful Tips for Selling Scrap Gold

Many gold buyers and pawn shops will value the scrap gold that they buy from a range of 30% to 60% of its actual value. This is to help them make a profit from the costs that it takes for them to refine the gold and sell it again. With that in mind, you’ll want to visit a handful of pawn shops and getting quotes from every one of them. With those quotes, you’ll be able to decide who is offering you a fair price before selling your scrap gold. If you have yet to find a fair price, you can always find a gold refinery service like Diamond District Refinery who will provide high value for your gold whether you sell your scrap gold to them in person or online.

Another important tip is removing and precious stones or diamonds that may be on your jewelry. These gems carry a high value on their own and can be sold separately.

Selling Your Gold in the Diamond District of New York

Selling Your Gold in the Diamond District of New YorkInstead of opting to sell your gold to a jewelry store such as Tiffany’s, it might be a better idea to swing by the Diamond District in New York City. The main reason for doing so is that the Diamond District truly is an area of options and choices. With a little bit of research and knowledge under your belt, you’ll be able to find the best prices for selling your gold in New York. For the most part, you’ll be able to find the best prices in the Diamond District as opposed to selling to a luxury retailer.

 

It’s very hard finding a larger collection of gold than the collection found on the streets of the Diamond District area, as well as finding the best deals for buying or selling. Unfortunately, not everyone has the time to do the proper research to be able to discover those deals. However, for those that do, it is very likely you’ll be able to find the best prices you wouldn’t be able to discover anywhere else.

 

Just by walking down the streets of the Diamond District, you’ll be bombarded by options and choices from the wealth of gold buyers and dealers on the block. It’s for this reason that it’s not a good idea to settle with the first gold dealer that you stumble upon. You’ll want to take your gold and have it appraised by a few gold buyers, this will allow you to spot who is offering the best deals. Once you’ve done some research and have had your gold evaluated by a few different venues, you’ll be able to choose who offered you the best price for your gold. So for those who have the time, selling your gold in NYC’s Diamond District is the best option for you for finding the best deals. This is the reason why the Diamond District is so well known.

 

sell gold nySelling your gold in New York, or perhaps other precious jewelry, has always been a common practice in the past, and has become more acceptable over the years. However, if you have never done so in the past, it is very important to learn the steps and procedures that go through this process or else you may not be getting the best value out of your gold.

 

Having a connection with someone in the business is always the best way to make the most out of your gold. If you have had a family member or friend who has sold their gold in the past, it’s a good idea to try and get some tips from them to help you through the process. Any extra knowledge you have can only help you in finding the best route for you to take when selling gold in New York.

 

Strangers, however, are naturally treated differently than familiar faces. So knowing people and maintaining a good relationship is always beneficial for both parties. If you don’t know anyone who is involved in the business and don’t want to go through with spending time searching for your best options, you can always decide to sell your gold online. Diamond District Refinery offers their services online, and having a refinery on location allows them to cut out the middle man and pass on their savings towards your wallet.