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What to do with your Scrap Gold and Old Jewlery

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No matter how big, how small, or how damaged you may think your scrap gold is, it is definitely of value. Whether it's an old wedding ring from a divorce, broken gold chains, earrings missing a mate, or even gold fillings from teeth, your scrap gold is a gold buyer's treasure.

If you are planning to sell old jewelry, you can visit your local gold dealer to have the gold weighed and appraised. They will be able to tell you whether or not the gold is mixed with any other metals, which could bring down the value. You can choose to have the dealer buy the gold directly, but chances are you may make more selling your gold at an auction or through a gold buyer online. Depending on the karat weight of your gold (10k,14k,18k,22k or 24k), prices will obviously vary.

If you wish to determine the value of the gold yourself, you can buy a gram scale or simply weigh it in ounces and then convert it to grams, as gold is purchased according to its gram weight.

The more you know about your product, the more you stand to make. Shopping around to see who will offer you the most is highly recommended, so don't go with the first offer that is thrown your way. It's easy for buyers to take advantage of you if they see you have no prior knowledge, or if you are looking to make a quick buck.

Perhaps selling online is a good option for you- just be sure you're selling accordingly. For instance, if you are selling a piece of jewelry that has a gemstone, and isn't damaged in any way, don't sell it as "scrap" gold, sell it somewhere like eBay where a bidder can actually make use of it.

Selling your unwanted gold is a great way to make some extra money and makes a whole lot of financial sense in the long term. The more gold scrap jewelry you accumulate, the more profit you stand to make in the future.