Tuesday, June 21, 2011

The 5 types of scrap gold to look for?

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The 5 types of scrap gold to look for?

1. Ornament or antique gold:
 + side: Large ornament objects may contain more gold.
There is a good chance that the craftsmen made pieces or the gold’s own rarity have a higher value than its current gold scrap value.
You might get lucky here as sometimes small objects are of a high karat and can be overlooked as to their antique value.

-side: Is that ornament really gold or is it plate?  Check the hallmarks carefully using a hallmark guide and magnifier before making a purchase if possible.
Is the item solid gold? This will need to be checked as ornaments often have lower value metal used to weight them. Check the bases of larger objects to see how much precious metal is really there.

2. Gold Flake:
+side: Large amounts of gold flake are readily available. People who use gold in crafts keep the shavings and spares for re use. It can also be sold as scrap gold at a later date.

-side: Gold flake can often be of mixed Karat value. Unless you can be sure of the purity of this, the final scrap gold value will be an average of its purity lowering its resale value.

3. Coins:
+side: A gold coin in sovereign is valued for at least spot price. There is always some for sale. An antique gold coin can have a large value in terms of return. Coins are very easy to store or display.

-side: Know your subject and this could be the ideal way to invest in scrap gold. If you don’t know then you could end up losing if you don’t research the numanistic value properly.

4. CPU Chips:
+side: There is a lot of old computers about. The gold used in the CPU chips of computers contains an amount of gold that can be extracted and re sold for its scrap gold rate. There is very little cost involved in doing this.

-side:  It’s possible to do this your self but it uses some nasty acids. If you can find a way round this problem and many have, you will also need a large supply of computer chips.

5. Jewellery:
 +side: Lots of it about and can be bought at any agreed price. Easy to store or display. This is probably the easiest form of collecting scrap gold. Many bargains can be found.

-side: be sure to check the hallmarks properly. This is probably the easiest method of collecting and reusing scrap gold. You can start by looking probably for things like wedding bands without stones as these are easy to categorize and value.