How to Start a Scrap Gold Business

You can sell scrap gold to make money for yourself and build a profitable business. No training or degree is required to sell scrap gold. This type of business is great for getting rid of unused and unwanted gold items. The best part about it is that gold prices have risen recently. If you have the ability to find and gather gold, you can begin your new business today.

Investment required

To begin to sell scrap gold as a business, you will need to have a sizeable starting investment. You can use that capital to obtain gold pieces and jewelry with it. Another way to find gold is to ask friends or family for unwanted gold rings, earrings, or jewelry pieces. Sometimes even items which may seem like they have no value can still be melted for the gold value.

Do’s and Don’ts of Selling

Do plan to budget your starting capital and don’t go over budget. Do use the money wisely and only invest large when you are for certain a large profit will follow. Do buy a digital scale to weigh your own gold. When you want to sell scrap gold, a digital scale will help in getting the precise measurements for a good sale.

Do gather the gold and sort them out. Do contact several resources to offer the gold and then compare the offers. Don’t include gold coins in the mix of scrap gold. Gold coins are not considered scrap gold. Do research the average price of scrap gold. One method for averaging the price is using a scrap gold calculator. Many can be found online.

Places to Sell

You can sell scrap gold at a variety of places. First, look local. Find local jewelry stores to purchase the gold if you need the money quickly. Mom and Pop shops are the best places to find a jewelry store to buy the scrap gold. Other places of interest might be online gold dealers, but be wary of them. Many will not give you the reasonable price for the pieces. Last, try e-Bay to auction the gold off.

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