Scrap Gold Prices

[CzechItOut]

Whilst in the good ol' US of A last week I couldn't help but notice the significant number of TV adverts for companies who pay money for your old, broken, secondhand gold - and then no doubt sell it on at a large margin.

I was wondering, would this be a worthly venture over here? What kind of prices would you get for seondhand gold, presumably only worthy of scrap prices?

[dugt]

i couldnt tell you anything abuot the prices, but why would it be scrap

i mean it would have a value, being gold

what sort of things were you thinking of?

doug

[MonkeyBusiness]

You can get money for your gold here :
http://www.gotgoldgetcash.co.uk/

[Mobile Chicane]

Offering to 'buy gold as scrap' is a jeweller's ruse to buy jewellery for a fraction of what they can sell it on for.

Gold teeth etc might conceivably be sold as scrap - my father had a number when he died - I doubt he still had them when he was cremated.

However everything else has a value over and above the raw material costs. Retail mark-up on jewellery is 100%+

[s3fella]

I love those ads! Real grave robbers!!! LOL


I always think, would you trust the postman in UK to actually deliver something that says "Urgent Gold delivery" all over it! ?

[MrVelox]

MonkeyBusiness said:

You can get money for your gold here :
http://www.gotgoldgetcash.co.uk/

£263.65 for an ounce of 22kt Gold... HA! More like £500+ is market value.

[AUDIHenry]

Gold is now at $764/ounce. They probably pay around $300/ounce, if not less.

[Martial Arts Man]

CzechItOut said:

Whilst in the good ol' US of A last week I couldn't help but notice the significant number of TV adverts for companies who pay money for your old, broken, secondhand gold - and then no doubt sell it on at a large margin.

I was wondering, would this be a worthly venture over here? What kind of prices would you get for seondhand gold, presumably only worthy of scrap prices?

I have a friend who has been doing this for a little while now. Hires out places and advertises in papers/ leaflets etc.

He also has opend a series of small market type stores inside shopping centres.

It helps that he's a jeweller though, as sometimes it can be hard to tell fake from real....

just so you know, this is what he was buying at today

9 ct £3.30 per gramme
18 ct £6.50 per gramme
24 ct £9.00 per gramme

Not sure how that compares in old money....

Marcus

P.S. He is making a lot of money right now!

[glazbagun]

MrVelox said:

MonkeyBusiness said:

You can get money for your gold here :
http://www.gotgoldgetcash.co.uk/

£263.65 for an ounce of 22kt Gold... HA! More like £500+ is market value.

After they buy it from you, they'll have to melt it down & add it to a block/ingot/whatever, no? And if it's a particular alloy, they may have to purify it, adding cost to themselves... Oh, and their hefty profit margin, too.