3 Factors That Determine What Scrap Gold Buyers Will Pay For Your Gold

3 Factors Gold price

Scrap gold buyers will purchase certain types of items which include:

o Broken necklaces & bracelets

o A single earring

o Old jewelry pieces

o Gold coins

o Damaged rings

o Any unwanted items.

No matter what your items looks like, a buyer will be able to buy the items that you have. The gold buyer will base their offer on three important factors:

1.) Current market price of gold - the market price is used to determine how much the buyer is willing to pay for your items. You should also make sure you know what the current price is so that you get the best price for your items. This price is also used so that the buyer does not end up offering you more than what your gold is worth.

2.) Overall weight of your items - the buyer will weigh all your items to determine how many ounces you have. The heavier the item, the more money you will receive.

3.) The karats your items contain - There are four types of gold that can be contained in a piece of jewelry, which are 10k, 14k, 18k, and 24k. The buyer will offer the most money for items that have 24k gold. (To determine what kind you have, find the marking on the piece of jewelry that will show one of the numbers listed above).

Article Source: http://EzineArticles.com/3387818

What Determines the Cost of a Gold Bar?

Weight Counts

To avoid confusion, follow the standard units used when weighing gold. The most commonly used unit of measure is ounces or troy ounces. Take note that when you see the price listing of gold bars, it is on a per ounce basis, and not the price for the whole gold bar itself. On the widest side of the gold bar, you will see its weight in troy ounces stamped in.

Getting your Money's worth

Because investing in gold means spending a large amount of money, it is wiser that your buy gold in bulks, rather than piece by piece. When purchasing gold in bulk, it is actually cheaper than buying gold by the piece. Also, buying in bulk means a much lower premium. Remember to buy from trusted accredited gold dealers to make the most out of the premiums that they have to offer.

Article Source: http://EzineArticles.com/6156467