Selling Gold Scrap and Silver Coins
Canadians need to be a bit careful as to where they sell off their scrap gold and silver, or gold/silver coins.
"Scrap Gold" and "Scrap Silver" are basically anything that isn't a gold/silver bar and isn't a coin minted by a national bank (like the Kruggerands, Canadian Maples, US Eagles, and pre-1968 Canadian quarters and dimes). In other words, silver and gold jewellery is considered "scrap.
Many companies/groups will try to buy these products at a great discount, and then turn around and sell them at a much higher price to a refiner. So be observant of such groups that may be essentially scamming you on your valuable gold and silver scrap or gold and silver coins. This is especially true of the programs that may advertise on TV/radio/print, they need to make up for the costs of marketing in what they pay to their customers. The groups that pay the best amounts of money for gold/silver won't be able to spend a great deal of money on marketing, because they're actually paying most of the money they get to you, the customer.
Be very wary of companies that don't even tell you what price you'd be getting for each ounce or each coin upfront. Be sure to always do your research to get the best gold/silver price up-front.
For gold/silver bullion (ie: bars), Kitco operates a refinery themselves and can offer very good pricing on gold and silver bars, however, they do not buy gold/silver scrap/coins from individuals. Their pricing on gold/silver sales are pretty good, but overall, gold and silver product prices are very high compared to the actual price of silver and gold (far above spot).
Kitco has both Canadian and US mailing addresses. It is recommended by them that you send your gold/silver by registered mail, since this form of mail ends up getting sent in safe and secure manner along its entire journey.
Surprisingly, in my experience, Ebay can be a very good sales venue for gold/silver coins, and maybe jewellery too. If you do sell on Ebay, be very careful for scams/frauds and be mindful of Ebay's fees and commissions, they may eat away any advantage, but do your research!
Does anyone have any recommendations for gold/silver scrap and coins? What kind of price and service did you get? Please leave a comment about where the pricing is best!
S P A M
I'm generally against capital punishment but I'd make an exception for spammers.
Dan, could you remove these posts?
Hey Steven, I agree re:
Hey Steven, I agree re: spammers. I removed one comment, and the other, I've already edited in the past to remove the actual commercial links..
Thanks for bringing this to my attention!
gold scrap jewelry
How to sell your old gold jewelry
The high price of gold may tempt you to unload some unloved trinkets. But don't assume you'll make a mint selling them as scrap. Here's what you need to know.
If you're planning to sell jewelry to take advantage of the high price of gold, you might be better off selling unwanted pieces as jewelry, rather than for the melting pot.
If you sell gold jewelry for its scrap value, you'll lose much of its retail value, perhaps 75% or more. The scrap price is based on the value of the metal alone and doesn't reflect the craftsmanship or any aesthetic or antique value, let alone emotional attachment you or family members may have to the piece. With the surge of companies prepared to buy your broken, scrap or old gold, it has become quite helpful for everyone to get the best price possible for their used items. In fact, it is a positive development that allow people to convert their scrap gold into EASY CASH! However, as gold is a precious metal and its price remains high, thus it is important to ensure that you are getting a good return for the items you are selling.
You can do it with gold store - REMOVED-SPAM, after this you find the best price.
Anyone know of a gold scrap refiner SW Ontario for CPU's, memory
Hi, does anyone know of a refiner Windsor - London - GTA that purchases scrap? I know I can sell them on ebay, but would like to know if I would do better locally. I have about 100 CPUS, 50 memory cards, and 50 gold fingers from old ISA/PCI boards. You can let me know at [email protected].
Thanks!
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