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Scrap gold - Consumer information  on selling scrap gold

 

What is Scrap Gold ?

 

Scrap gold could be described as a recycling process in which old or broken gold items are recovered and smelted into Gold Bullion Bars that can later be used to manufacture new items of gold jewellery or processed for use in the electronics, aerospace and medical industries. Gold bullion bars are also held as investments also know as "Gold Holdings", these can be traded on the Stock Exchange and have proven to be very sound investments due to the constant demand for gold as a raw material and as an investment option.

 

Scrap gold as a material can be recovered from several processes and is found in a wide range of items, when we talk about scrap gold we often think about broken items of gold jewellery but that's just a small source as I will outline below.

 

Scrap Gold Sources

 

We can break this down into four main sources, there may be others but these are the most common.Scrap gold jewellery

Broken Gold Jewellery

 

Gold jewellery is a very common source for this precious metal as it is readily available and requires very little effort by the refiners to process it. Items of gold jewellery can be easily processed just by sorting and grading then it's just smelted down and cast into rough Gold Bars for later processing. As most Gold Bars are of a high Karat gold, usually 24kt or 999.9% pure gold, these first cast gold bars will go on to be refined into much purer gold bars or they could be re-used as is for manufacturing new items of gold jewellery.

 

Industry scrap gold

 

Industry provides the bulk of all Scrap Gold processed by means of electronic circuit boards, you mayElectronics scrap gold or may not be aware that the mobile phone you use every day has some gold insides and the computer you are using right now has gold coated components that are crucial in it's operation. Its hard to say with any great accuracy but I would bet that industry is the single largest source for all Scrap Gold processed world wide, being the biggest consumer it makes sense. Recovering gold from electronics is a highly specialised and costly process although the rewards are great.

 

Medical scrap gold

 

Dental scrap goldThe medical industry has long used precious metals due to it's resistance to corrosion and wear, probably the most single biggest source for Scrap Gold here is the Dental industry. Gold teeth are the best example, once a common procedure but now more a fashion statement. Dental gold is usually of a high quality, 14kt to 16kt is common.

 

Bullion scrap

Gold bullion scrap gold

Simply put, bullion can be old gold coins that are usually a high quality/Karat gold  of 24kt. Bullion requires the least amount of processing as its already in as pure a state as your likely to get. Gold coins are only ever used as a source of scrap gold when they are  to badly damaged to worth selling to a collector, you should always take your gold coins to be professionally evaluated before you consider scrapping them as they could be rare and infinitely more valuable as a coin than just purely as scrap gold.

 

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