What is Second Hand or Scrap Gold?
In a nutshell, scrap gold involves any form of the precious metal that is clean, disconnected from any attachments like stones or similar, and can be consolidated with other gold for melting and reforming. Typically, the gold does need to be sorted by quality type (i.e. gold karat) but this is something the gold buyer takes care of in aggregate. For the consumer, scrap gold can be a variety of items. The most common tends to be jewellery that is no longer worn, broken or faulty. Scrap gold can also come from parts. Many industries recycle computer parts, for example, to strip the metals off of the technology cards involved for recycling. Scrap gold can also come from some types of wiring because it makes for a very high quality conductor. Again, the primary focus is on a clean form of the gold, clear of any other integration so that the metal can be consolidated, melted and re-used in new ways.
Scrap gold definitely does not include gold-plated materials, which are common in lower-priced jewellery and accessory pieces. It also doesn’t include foiled materials which often have a thin layer of gold foil but underneath are another material, usually wood or softer materials. These kinds of situations would not result in anything usable, and the non-gold material would create contaminant and fire hazard in the melting process trying to secure the miniscule bit of gold that might be involved.
In most cases, scrap gold is sold for just its base metal worth, with a discount for a buyer to make a margin on the material when it is formed and resold again. buying channel does provide consumers a way to liquidate broken or old items with gold versus not knowing what to do with them. Gold Smart is available for New Zealand residents, right in the financial district of Auckland, 200 meters from the Sky Casino and Auckland Sky Tower. We can help, so give us a call!
Typical Buyers of Scrap Gold – Where to Sell My Jewellery?
The most common type of scrap gold buyer is a bulk processor who is interested in the base metal itself to consolidate and reform it into new gold products. Alternatively, the next common category tends to be a reseller is collect many different items from different sources and then sells the gold collected in bulk amounts to the first category just mentioned. Both are focused on the gold content and are not weighing criteria on how the gold was used, the intricacy involved or the jewellery style. The third category tends to be a mix of buyers who dabble in scrap gold occasionally. This can range from from pawn shops to private individuals and a whole lot in between, including less-than-reliable characters which consumers should watch out for.
One of the best ways to deal with liquidating scrap gold is to work with a certified gold buyer like Gold Smart who has a long-standing reputation in the community and protects consumers at every step. Gold Smart works both online and in person, provide lots of help on how to pick out what will most likely sell and how. You can easily visit us in person in a very central location in Auckland 200 meters from the Auckland Sky Tower and Sky Casino. Our gold buyers team work regularly with all kinds of gold materials and provide consumers a great expertise resource to take advantage of.
How Much is Scrap Gold Worth?
Typically scrap gold in any market tends to be focused around the current spot price for the gold itself. That’s fine, but it’s not the measure a consumer can use to consider sell gold Auckland options. Just because an item is entirely made of gold doesn’t mean it has the same price as a similar item of the same weight. The pricing difference often has to do with the quality of the gold involved. For instance, many items that require more durability or frequent wear tends to have stronger forms of gold. Gold generally is a soft metal to begin with, so to make it stronger the gold is alloyed with other metals. This is the case with 12 and 14 karat gold items, for example. However, when mixed, the quality of the gold goes down, and that lowers the value of the gold in the item when evaluated. In comparison, a 20 or 24 karat jewellery item or similar is going to price much higher. The quality of gold involved has a greater purity and is closer to the true spot price on gold markets. Consumers selling gold need to understand this difference because it directly impacts there return on scrap gold sold to a buyer.
As a premier gold buyers Auckland resource, Gold Smart’s team can provide any consumer a highly-experienced team to work with evaluating the full price of scrap gold available for sale. They have had years of working with all types and forms, and are always available in person to be Convenient for customers who want to sell gold. With a great location in the financial district, Gold Smart sits just 200 meters from Sky Casino and the Auckland Sky Tower. Drop by, chat and see what your scrap gold may be worth.