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Scrap Gold Prices for Extra Cash

Scrap gold prices have hit an all time high. And, considering the way things have been going, that’s really no surprise. Whether you’re looking to find out more, or make a little cash on the side, gold can be great. But, if you don’t know what you’re doing, it can also be a tremendous waste of time.

What Is The Gold Standard?

Before you get too deep into the gold topic, understanding how gold works in the current economy can be very valuable. The Gold Standard is just that, a monetary policy. Essentially, all currency is based on a quantity of gold. Why base an entire economic system on a precious metal?

Well, for starters, value preservation. Money is much more complex than just a piece of paper with some special markings. And it’s important to understand how or why that piece of paper has any real value at all. In a gold backed economy, the government ties the paper money it prints with the physical gold it has on hand. Likewise, a government that prints money without backing runs the risk of devaluing their currency entirely.

If your economy uses a Gold standard, anyone, at any time, can trade their paper money in for actual Gold. And, similarly, can receive paper currency on the market for the weight of gold they possess.

It’s worth noting that this concept is nothing new. In fact, it has been around for a few thousand years. Gold and silver have both played their part in the growth of economies. For instance, Asian farmers used pieces of gold and silver as a method of payment, British empires used gold as the scaffolding for their empires.

Fiat Currency

Comparatively, Fiat backs its currency through a connection with supply and demand. Basically, the more demand you have within your economy, the more value your money has in the world market. Additionally, the more demand you have, the more money should be able to print (in theory).

However, on the other hand, some fear the Fiat Currency is quite dangerous. And one of the dangers associated with fiat is hyperinflation – where governments print money outside the confines of supply and demand. Today, more so than ever before, the dangers of fiat seem to be quite apparent.

Thankfully, we still have physical gold. And while the U.S. and European economies are no longer backed by Gold, their deposits remain intact.

Gold Scrapping Prices

Enter gold scrap prices. Gold is quite complex, and has many “measures” that help decide it’s worth. Currently, we refer to this value as “market value”

How Gold Is Weighed

We use three measurements to weigh gold:

  • Ounce
  • Gram
  • Kilo

And value for each change on a daily basis. You can check out current gold prices by visiting a website like

Gold Purity

Gold weights are not the only thing you have to think about when scrapping. Additionally, purity (or carats/karats) plays a huge role in how much gold is worth.

Basically, without running you through a science course, purity is the relationship between gold content and it’s carat rating. The purest gold is 24 carats, and contains 99% gold by weight. Comparitively, 10k gold is on the lower end of the scale. Today, one ounce of 10k gold is worth $700+ USD.

Where Can You Find Gold?

You can find Gold in just about everything, but you have to know where to look. We’ll list a few places to find it.

  • Computers – Laptops, desktops, and all-in-ones contain gold components. Circuit boards found inside of a new laptop can contain between $15 and $25 of gold.
  • Cell Phones – that’s right, don’t go throwing that old iPhone away so quickly. The average mobile contains 50 milligrams of gold in weight.
  • Old Jewelry – this is the easiest place to find scrap gold by far. But, you’ll want to be wary as far as where you find it. Fool’s gold jewelry is practically worthless!
  • Space Technology – gold is used by Nasa in their space shuttles. The metal can be found in a shuttles circuitry, connectors, and conductors.

Additionally when dealing with Scrap gold and finding prices, you can use gold-calculators to help!

How Much Are My Items Worth?

Scrap gold prices are constantly fluctuating, and that’s part of what makes scrapping so fun!

Ideally, you’ll be able to find a few common items containing gold using the list above. And, really once you understand where/how gold is used, it won’t be hard to find. But, to understand how much your scrap items are worth, it will take a bit of legwork.

Really it all comes down to weight and purity. But, that doesn’t necessarily mean the heavier your items are, the more they will be worth. A troy ounce is the most common measurement for gold. In our example, we’ll use the average amount of gold found in a smartphone: 50mg:

We know that 24 grains equals about 1/20th of a troy ounce (see pennyweight dwt). And, we know that you need 28349.5 mgs to have one ounce worth of gold. Likewise, we know that the market value for one troy ounce of gold today (6/8/2020) is $1,697.00, and our cell phone is 75% pure (18 carats).

Our 50mg gold containing smartphone internals have roughly 50mg’s of gold, or 0.03 ounces. Therefore, we can safely say our cell phone internals are worth $2.05.

Now, we know $2.05 is not going to make anyone rich overnight. But, if you gathered 100 smartphones, you may have something worthwhile.

For more info on our Scrap gold prices, give us a call at: 1-877-857-6227

To Scrap Or Not To Scrap

Scrap gold prices are very good right now, and unlike stocks or bonds, their value normally remains VERY stable.

Really, your chances of finding gold scrap will increase with access. Meaning, the more recycled electronics you can get your hands on, the better money you’ll make. Many other people also sell old gold jewelry, watches, and engagement or wedding rings to make extra cash.

What’s In It For Me?

If you plan on getting into scrapping, you’ll want to find a business that knows what they’re doing. Our gold buying platform is 100% secure, fair, and no-hassle. And, best of all, if you do not like the price we offer after shipping your gold, we’ll ship is back at no cost. Watch our highly satisfied customer tutorials here.

Looking further help selling your scrap gold? Visit our website for more information.

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cash, gold, and diamonds on a white background

Cash for Gold and Diamonds

If you are seeing an increased number of billboards stating, “We buy gold and diamonds,” it is understandable.

There is an increase in the number of jewelers who are re-stocking with gold and diamonds bought from the public, rather than buying from wholesalers. Gold Cash Buyers is here to help you sell your jewelry, and get you cash for gold and diamonds.

Selling Advice

When selling gold, most people go to a bullion dealer or pawn shop. Although it is convenient, it is not the most recommended way to sell gold. This is because a dealer will always give you the lowest return on investment. They may not even give the true value of the jewelry to leave room for negotiation. Even you try your best-negotiating skills, you will receive far below what you can get from a reputable bullion dealer.

Selling Your Jewelry

While the prices of diamonds are rising and the time is right to sell, selling your diamond can be a big headache. Unlike gold, which possesses a melt value and can be quantified, resale prices for diamonds have no objective measure. This makes inexperienced sellers confused and overwhelmed. However, here are a few steps that can help you in selling jewelry.

Cash for Gold and Diamonds: Know What You Have

Before rushing to the market, it is a better idea to get a clear picture of the diamond or gold’s authenticity and quality. Gone are the days when you believe what Granny said about the old diamond ring being extremely expensive. You can get help from a qualified appraiser, preferably the one that does not buy or sell diamonds-as he can give you an unbiased opinion of the stone’s quality, characteristics, and condition. By doing this, you can get to know the positive and negative attributes that can help you in getting a good deal. In the case of gold, you must keep track of the current spot price of gold and compare the buyback prices from dealers in your area.

Set A Realistic Price

Having unrealistic price expectations for your diamond or gold jewelry is the quickest way to disappointment with no sale. For diamonds, you must follow current market trends. Gold bars, gold coins are higher in premium as they have sophisticated designs. Gold jewelry is costly too as its price will also depend on the craftsmanship involved. The least expensive scrap gold option is the bullion jewelry that is comprised of only gold and this avoids the high mark-up of jewelry. Premium is charged by all dealers and you must try to find a reputable dealer with competitive premium

Cash for Gold and Diamonds: Investigate Your Selling Options

You have two options to re-sell. Either directly to the consumer, or to the jewelry industry. If you want to sell quickly, safely, and with no fuss, then search for a jeweler, pawnbroker, or diamond dealer. The most recommended dealer is the one who has good repute or whom you trust. The downside of selling in the industry is the not-so-good price that you will be getting. As the dealer intent is to make a profit from your stone or jewelry, they will pay you less than retail value.

Here at Gold Cash Buyers, we guarantee you a fair market appraisal. You will receive your top dollar offer in as little as 24 hours. Our team of professional gold cash buyers will work hard to deliver the most money for your precious metals and diamonds. If you have any questions, don’t hesitate to give us a call at our toll-free number 1-877-857-6227.

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