Tip to make bit of cash on ebay, sell scrap gold!

sophsters

Ever the one to try and make a few pounds I had a rake through my jewellery box today and found a few broken chains, a broken bracelet and a shquashed sovereign ring, all 9carat gold so i put them on ebay and put the weight in grams and i made £15! Just thought i would share this with other people see if i can help seeing as the price for gold is very good at the moment! :j

POSSETTE

thanks for that..i have some odd earring and broken stuff lying around..i just cant be bothered to go into Derby and get it exchanged for cash..will sort it out tonight,,,cheers

greenpixey

I got a bit in my jewelery box but all mine is 18ct so I don't really know what to ask for/expect price wise. I got white and red 18ct gold as well...perhaps I'd be better off going to a local shop and ask first

Hintza

Just take it to a dealer gold is as good as cash and has a certain intrisic value. You should get more that way.

StaffsSW

£25 per gram of scrap was the going rate when I dabbled in this in 2006. I was buying badly listed bracelets and rings for pennies, cleaning some up and relisting with good pictures and descriptions. I did get some gold plated, and some that were useless, but when cleaned up and photographed on a set of digital scales I could easily make my money back on them as well.

Since then, loads of people have been doing the same thing, and the "dealers" can get a bit malicious with feedback.

meester

Basically gold is sold by fineness and weight.

The finest gold is 0.999 (i.e. 99.9%). The carats are out of 24, so 9 carat is 9/24 = 0.375 fineness, and 18 carat is 18/24 = 0.75 fineness

So if you have 30 grams of 9 carat gold, you have 30 * 0.375 = 11.25 grams AGW (actual gold weight).

So you can list your auction as:

30 grams 9-carat gold

Gold price is here:

http://www.taxfreegold.co.uk/goldpriceslive.html

The bid price is £457.73 per TROY ounce

If you type into google

"11.25 grams in troy ounces"

that gives you 0.3617 troy ounces AGW (actual gold weight), you could also list like this

So the wholesale bid price is 0.3617 * £457.73 = £165.56. That's your target, obviously the buyer needs to make a profit, but you need to have an idea what your gold is worth before going into a jeweller - if they offer you £50 for it, you are being ripped off. If it was 18-carat, it would be worth twice as much - £331.12

meester

stevew8975 wrote: »

£25 per gram of scrap was the going rate when I dabbled in this in 2006.

Don't think so..... Gold was lower then, and even now, PURE gold is only worth about $27 per gram.

f1re_cr4cker

yay i used the hatton garden company which is mentioned above and sent off some old bits of 9ct jewellery and today have received £95 into my paypal account from them!!!!! i sent off 18.8gs apparently im soooo chuffed!

StaffsSW

meester wrote: »

Don't think so..... Gold was lower then, and even now, PURE gold is only worth about $27 per gram.

Sorry - my bad description - "scrap" in the sense of it was badly listed or non-descript, rather than broken and only good for smelting.

charlottevwa

anyone know anything about scrap diamonds.. where to sell and how much value etc? Thanks

meester

f1re_cr4cker wrote: »

yay i used the hatton garden company which is mentioned above and sent off some old bits of 9ct jewellery and today have received £95 into my paypal account from them!!!!! i sent off 18.8gs apparently im soooo chuffed!

not half as chuffed as mattafc will be, as evidently spamming their link in every post he makes pays off....