Addressing Two Common Questions About Selling Your Scrap Gold Jewelry

24 July 2015
 Categories: , Blog

If you are like many other people, there is a fair amount of scrap jewelry around your home. Unfortunately, it is common for people to be unsure of what to do with these items because it may seem wrong to throw out gold, but the jewelry may be broken beyond repair. Luckily, there are gold buyers that can provide you with money for your scrap gold, but if you have never used these services before, there is a strong chance that you may need the following couple of questions answered before you decide whether or not this is right for you. 

Can You Sell Gold Plated Items For Scrap?

Gold plating is particularly common on many low-end pieces of jewelry, and while you may want to see these items for scrap, this may not be as easy as other types of gold. When an item is plated, a thin coating of gold is placed on top of another type of metal. As a result, it will be necessary to separate the gold from the base metal, which can be extremely expensive. 

As a result, many gold buyers will not accept gold plated items. While it will still be possible to sell these items, you may have to contact several providers, and you will probably receive far less than for items that are made of pure gold. 

Will You Be Paid For The Gemstones In The Scrap Jewelry?

Gemstones are common decorations for jewelry, and many people are under the impression that these stones will increase the amount they receive for these items. However, it should be noted that many gold buyers are only interested in buying diamonds and other high-end stones. 

When a piece of jewelry contains a low-quality gemstone, the gold buyer (such as Ed's Coins) will typically not offer money for the stone. Luckily, this does not mean that you will have to forfeit these beautiful stones because gold buyers are usually more than happy to return the gemstones to you. It will take an experienced gold buyer only a few minutes to remove these stones, which can ensure this is a convenient process.

Selling your scrap gold can be an excellent way of generating money from items that you have no use for, but it is important for you to understand what to expect from these services. By knowing why many buyers do not accept gold plated items and how your gemstones will be handled, should make it easier for you to decide whether these services are a good option for disposing of your scrap gold.