How to Buy Scrap Precious Metals

How to Buy Scrap Precious Metals

If you have any broken or unwanted jewelry, you can sell it for scrap metal prices. Most times, you don’t need to sell something that is still usable. For example, a platinum and diamond necklace would have a higher value than a silver lid from a misplaced sugar bowl.

There are a lot of things that can be made from cash for scrap metals, but that is not all. Here are some options to get your old scrap into cash:

Metals of Precious Value

Metals of Precious Value

Before selling your precious metals, make sure that they are free of organic waste and corrosive materials. First, you must remove them from the pieces. Otherwise, it will take longer to sell them. Also, be sure that they are free of lead and cyanide. In addition, you should always check for the quality of the pieces before bringing them to a refinery. Then, they will give you an offer on the items they will accept.

Metal Scrap Recycler

Next, you should make sure to clean the precious metal scrap. To speed up the processing process, you should separate the different metals. Remove the items that are magnetic. Some gold filled materials are magnetic, so you may want to separate them first.

Another way to clean your scrap is to collect pet hair and dental refuse. Also, you can discard tape, stencils, and other items that could be hazardous. The last step is to make sure that your scrap is free of lead.

Purity Influences Price

Scrap precious metals are sold by the weight and purity of the metals. The price is determined in troy ounces, which is about twenty-five cents per penny. The purity of the metals affects the price. Pure precious materials are too soft to be used for everyday use.

Therefore, other metals are mixed with them to make them more durable. For example, 24 karat gold is nearly 100% pure gold, while 10 karat gold is 43.5% pure gold.

Choosing the Right Refinery

A few companies buy scrap precious metals and sell them at a high price. Others are not as transparent as other companies. You can find gold and silver on the internet and in local markets. You can also contact a refinery to sell your scrap metal. If you’re looking for a place that pays by the penny, it’s better to find one with a reputation and a good price for its scrap.

Values of Weight

Scrap precious metals can be sold for their weight values. Some gold and silver jewelry stores pay a lot of money for scrap, while others simply sell it for a small profit. Some of the more common options include pawn shops and jewelry stores.

Typically, gold and silver scrap is sold to resellers who then sell it to refineries for the highest price. The price for scrap precious metals depends on the purity of the metal and the desired profit margin. The more pure the metal is, the higher the price.


There are several ways to sell scrap precious metals. Some of these buyers pay a penny per ounce, while others pay for a penny or gram. Some people prefer to sell their scrap gold to pawn shops, while others may turn to a gold refinery.

There are many precious metals in the market, and it is possible to sell them for a large profit. When you sell your scrap gold, you will be able to earn some cash.