Do you have broken or damaged jewellery lying around? How about scrap gold items, such as unused coin collections or gold bullion? It may not be worth fixing or adding finishes to your gold items, but that doesn’t mean they aren’t of value to you: far from it. The same businesses who buy refined jewellery and precious metals are also scrap gold buyers.
While the item itself may be damaged – for example, a gold bracelet with a broken clasp – the gold itself still retains its value. The scrap gold buyer is not paying for the item itself, but rather the value of the gold contained within. This is determined by a variety of factors, which include:
- The current market price of gold
- The DWT (pennyweight), or another unit of measurement, such as weight or ounce, based on the volume of the scrap gold
- Carat, which is a measurement of the purity. The higher the rating, the higher the value
- Other considerations, such as fashion/style value
What items will scrap gold buyers purchase?
Scrap gold doesn’t just mean damaged or broken jewellery. Scrap gold buyers will also buy a range of other items, such as gold coins, gold bullion, watches and other items, and even gold dental fillings and crowns. Essentially, any item comprised of genuine gold may be purchased by a scrap gold buyer, dependent of course upon value, condition and a variety of other factors.
When is the best time to sell gold?
Unlike other goods traded on the stock market, gold is not as susceptible to huge price fluctuations. While its price may increase exponentially, it doesn’t drop significantly in short periods of time. This means that you can sell gold at virtually anytime, without having to worry about the value of your items increasing significantly from one week to the next. For example, if you sell a gold bracelet today, the amount you can get for it will be fairly consistent with what it would be next week. Market price differences will have very little impact, unless of course you are selling very large quantities of scrap gold.
Are you looking for a reputable scrap gold buyer to sell your gold to? Get top dollar with Pinto Gold and Jewellery Buyers! Visit us today at 2490 Yonge Street, near Yonge and Eglinton, or check out our What We Buy page for more information!