Gold Commodity Market Price vs. What I can Actually Sell For

What price should you expect if you sell gold for scrap?


The reason I ask this question is because a potential seller of scrap often thinks that he or she will get the market price of commodity gold. Let's look at an example of what that might be. The commodity price of silver as of this date is about $1,238.00 per Troy ounce. If I have a bracelet with one Troy ounce of gold in it,  should I expect to be paid $1,238.00 for the bracelet by a scrap gold buyer? Of course not!

The scrap buyer is in business to make a profit and will be willing to pay less than the spot market price for gold. The buyer of your bracelet may sell it to someone else who will melt it down to refine the gold. The refiner has to make a profit as well.

The big question becomes, "So, how much should I expect to sell my bracelet for?"

There is no definite answer Be smart - shop around! Don't take the first offer you get until you have checked several other potential buyers.