Buy Scrap Gold

The idea to buy scraps is brilliant though you may still be unaware of that. Well, let me explain to you why it is such a good idea to buy scrap gold (hereon named scrap). First and foremost, let me tell you what scraps are. Scrap is anything that is made out of gold or has gold in its components. To give you a clearer picture, let me give you a few examples:

- old broken jewelry
- gold dental crowns and bridgework
- old gold watches
- gold dust and sweeps
- gold pins and brooches
- gold screen and mesh
- old gold coins
- gold nuggets
- and practically anything that has gold in it

If you buy scrap, you should only buy ones that are made of pure gold if you do not have the facilities to extract gold. So how do you know if the scarp you are buying is pure or not? Most jewelry are made of gold mixed with other metals such as silver, copper, platinum, etc. 24 carat gold is pure gold with nothing else added, it is absolutely pure. Now if you have the facilities to extract then you can buy gold in any form. You must know that there are different types of gold, depending on its purity. Here are the different levels of purity:

• 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

When you buy scrap you must know that the lower the karat the lower the value is. But that should not discourage you from buying scrap of lower karats. You may find other precious metals in pieces of jewelry that might add to your profit. Always remember to check each piece for any indication of its purity so that you will know how much to pay for it.

Before you go and buy scrap, it is important to know the current going price of gold in the market. Update yourself of its price everyday because it changes everyday. As a rule, the price of scrap is less than the value of gold in the market. If you do not know where to look for the price of scrap, do not worry because it is really very easy to find it. All you have to do is look it up online. There are plenty of websites that give daily updated price listings of gold and gold scrap.

Finally, the reason to buy scrap gold is because it is an investment. You sell it after you have extracted the gold and other precious metals. After the gold has been extracted, you can sell it at the regular market value of gold. If you have a good grasp of the concept of buying scrap, you are sure to earn big profits. So go and do your homework, find out more about the subject of buying scrap gold.

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