The expression “Scrap Silver and Gold” doesn’t sound that exciting – it actually sounds like a sad-ish Christmas song from the island of misfit toys. Yet, this unique asset could be quite valuable under the right circumstances. In order to get the right value out of your scrap silver & gold, it is very important to fully understand how to measure it, to understand purity standards, and of course what factors go into pricing scrap high end metals like silver and gold.

Silver and Gold

So to start, lets just start with gold, why? Well this is a blog, and gold in general is easier to find when scrapping, than its counterpart of silver. We will cover silver in future articles, but starting with gold might set you on the right path in your scrapping career or hobby.

Scrapping Gold

What is scrap gold, and why are people scrapping it..you might ask?  “Scrap gold” is an expression that refers to any gold that is no longer of value in its original marketed form—for example, broken jewelry or industrial by-products. Scrap gold for the most part, is useless in its current form, and needs to be sold to a buyer who will use it by melting it down and reselling it or creating something of value for others.  Gold prices are updated daily just like other scrap items and commodities and its value rises and falls according to the current economic playing field.  Gold is a commodity, and it might have a different value at different times in the market.

Where to Find Scrap Gold

Other than panning like a miner for gold (which is not a bad hobby in the right area) you can find gold in a few easy enough places. First and foremost, computer and cell phone chips are generally gold plated due to their conducting value, so check those place first. Also, most scrapped newer autos have computer chips you can extract as well. Every smoke detector contains gold as well in different pin sockets. So keep looking for gold, just maybe not in the hills.