How To Buy Scrap Gold For Profit May 2026

Before buying anything, you must know the —the current market price for 24k (pure) gold. Since scrap is rarely 24k, use this formula to find the value of a piece:

Some people run ads (e.g., "I Buy Gold") to have sellers come directly to them, though this often requires a precious metals dealer license depending on your local laws. 4. Selling for the Payout how to buy scrap gold for profit

To make money, you typically aim to buy at 60%–80% of that melt value. 2. Essential Testing Kit Before buying anything, you must know the —the

These have very little gold and are generally not worth buying for scrap profit unless you have massive quantities. Selling for the Payout To make money, you

Must measure in grams and pennyweights (dwt) to at least two decimal places.

This is the most profitable route. Refiners melt the metal down and typically pay 90%–98% of the melt value. They usually require a minimum weight (e.g., 2–5 ounces) to do business.

To look for hallmarks or signs of "wear-through" where base metal shows under gold plating. 3. Where to Source Scrap