July 20th, 2021

Scrap Gold: What Is It & How To Sell It For the Best Price?

Scrap Gold

The term “scrap gold” refers to any gold that you can melt down and recycled. Scrap gold does not stay in its original marketed form. So any item containing gold that a refiner can reprocess is considered scrap gold.

For example –

You may have an old broken ring made of gold, and you decide to sell your gold jewellery. Your gold jewellery dealer will buy your item as scrap gold, and they will later send your scrap gold piece to a refinery.

What is the Value of Scrap Gold?

Gold is a safe-haven asset, and it is valuable in virtually all forms, be it is broken, tangled or scrap. Moreover, gold makes sound investments as its prices typically skyrocket, especially during an economic downturn.

And considering the current market condition and gold prices, it might be the best time to sell your gold. You are likely to secure the highest possible cash for your gold piece without any hassle.

Regardless, scrap gold’s value depends mainly on two factors – weight and purity. Thus, you can easily calculate the value of gold jewellery as scrap if you know these two things:

  • The carat of a gold jewellery piece,
  • And the price of gold per unit of weight.

For example, you own an 18ct gold jewellery item that weighs 100g. The item’s actual content of gold is 75% or 75 grams of pure gold. Now:

If you multiply 75 grams by the current gold market price, you can estimate the value of your gold jewellery.

However, the best way to know how much your scrap gold is worth or how you can get by selling your scrap gold is by filling in our online form. You will get an accurate quote instantly via email or phone.

How to Sell your Scrap Gold for the Best Price?

If you are ready to sell your scrap gold, make sure that you choose a trusted gold buyer to get the best possible deal. And the best place to sell your gold in London is at The Luxury Hut. We offer a quick, secure and hassle-free way to get cash for gold.

  • Submit Form

Fill in our online form, providing all details of your gold piece.

  • Get a Free Quote

We will determine an accurate price of your asset based on the details provided and the gold’s price on the day of valuation. One of our associates will contact you with a free quote via phone or email.

  • Send your Gold

If you are happy with the quote, send your item to us using our free home collection service.

Or you can call us on 0207 242 9160 to book an appointment at our Hatton Garden office in London.

  • Get Paid within Minutes

After collection, we will appraise your item precisely and confirm our final offer. Accept it, and we will pay you immediately via your preferred payment method.

As trusted gold buyers in London, we continuously keep track of the changing market prices of gold. Thus, we can provide the most accurate quote and, eventually, the highest possible cash for gold. Get in touch with us today to sell your scrap gold for the best price possible.

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