The Best Places To Sell Gold For Cash
Bottom Line Recommendation:
Gold prices are currently at their highest levels since 2013. If you have old gold jewelry or gold bullion, selling it can be a great way to get cash immediately while taking advantage of todays high gold prices.
There are plenty of different places to sell gold, not all of which are equally good. The best way to sell your gold is online through a reputable buyer, as youll get a better price than you would selling through a local pawn shop or jewelry store.
For gold wedding bands, engagement rings and other gold jewelry, we recommend selling to Abe Mor Diamond Cutters. Theyll almost always offer the best price for your gold, with a fast, friendly process thats free of any hard-sell sales tactics.
Below, weve provided more information about selling gold locally and online below, including our recommendations to help you get the best possible deal.
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How To Make White Gold
Real solid 24K gold is too soft to make any jewelry and so manufacturers alloy it with other metals to get the desired color effect and malleability.
White gold can be made of either 10, 14, or 18 parts real gold each with different-looking shades of color and hardness. Adding palladium, manganese, silver, and nickel to the metal makes up the rest of the alloy.
Nickel is the best bleaching agent that helps strip gold of its yellow color but it has been picked on for causing skin reactions. This is why manufacturers have turned to silver instead. However, this combination still doesnt create the silver hue that white gold is known for.
To create the perfect tint of silver that is strong enough to compete with sterling silver and platinum, white gold metals are coated with rhodium.
Rhodium is bright white in color and is also very durable. Though the coating will wear off in time, you should have months to years before you have to worry about a trip to the jeweler who can easily recoat your ring and have it looking brand new again.
How To Extract Gold By Smelting
Extraction of gold by smelting is done with metallic mix gold. Scrap gold, jewelry gold, With gold components for more than 25%.
Not suitable for metal gold plated surfaces. If you want to do. Using nitric acid to dissolve Metal mixed with gold out. You can get scrap gold. Scrap gold bring smelting.
3.Gold alloy. Estimated that there is a mixture of gold 3 grams
Melt metal all together. The copper melt first. Put the gold and lead Homogeneous
Pour the melted gold into the water.Broken down into smaller ones. To make it easier to use nitric acid to dissolve the metal is not gold.
The smelting of gold and poured into water pellet small.
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Where To Have It Done
Finding a jeweler who will re-cast your pieces into a new design is a challenge. Most are hesitant to take this on since the results of melting gold are unpredictable. This will definitely be custom work, and it doesn’t hurt to call custom jewelers in your area. There are also a few jewelers online who will try:
- Walker Metalsmiths – This company specializes in lovely Celtic jewelry, and they will melt down old gold to create a new piece. They have experience with the process and claim their casting methods allow them to offer this service. It takes about three weeks to re-cast the gold, and they will give you a credit toward your item based on the current scrap gold buying price.
- – In general, this company prefers not to re-cast old jewelry however, they will make an exception if you want to use gold from a piece that has sentimental value. They have not had good luck with re-casting in general, but they will work with a refiner to retrieve the gold from your piece and then use the material in a new design. They don’t list prices, but they do note that this represents a substantial additional cost.
- Foxfire Jewelers – This custom jewelry company has its own refiner and will recycle your gold jewelry to give you a credit for a new piece. They don’t absolutely state that the gold from your old jewelry will be in your new item, but they do note that doing this reduces the price of your new design.
Refining Scrap Gold Faq
What Is A Scrap Gold Refining Lot
All the metal delivered to us as a refining lot are first inspected for magnetic metals like iron, low grade stainless steel, nickel, and cobalt. Once the magnetics are removed and other non-precious metals are removed, all of the gold, the 10k, 14k, 18k for example are combined and melted together into one homogeneous mass and poured into an ingot mold forning a bar.
When molten, a small pin sample was drawn and saved for future analysis to determine the final purity of the poured ingot. The pin sample is then analyzed by x-ray fluorescence spectromerty and/or fire assay to determine purity. That is, how much pure gold, 24k gold, is contained in the ingot. This amount of pure gold can now be sold on the market or placed in your pool account and sold later. There is no need to wait for the final refining process phase
The impure bar, or ingot, then proceeds to the primary refinery where the pure metals are separated and reclaimed. All of the gold, copper, silver. Most of the other trace elemnts have no value and are discarded. This final refining phase can take up to 18 months to complete.
Diamonds reclaimed from stone removal lots can also be “frosted” to determine whether or not they are in fact diamonds. Frosting service subjects the stones to an acid bath which will mar the finish, or “frost” the stones that are not diamond. Diamond frosting will help separate zircon and glass from diamond.
Impurities in Refining Lots
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Before You Start Melting Gold
It is important to remember that before melting the gold you should remove the impurities in the metal by using flux. This chemical will remove all of the impurities in your gold. The fewer the impurities, the easier it is to meltdown or refine your gold because there wont be much else besides metal. Depending on the size of the gold melting project, there are numerous forms of flux solutions.
To refine gold and keep small gold particles together for DIY gold melting projects, you may use accessible chemicals like borax and sodium bicarbonate. Borax is available to purchase in the home cleaning section of your local grocery store. Sodium carbonate is produced when you heat baking soda , which is also known as sodium bicarbonate.
To create a decent DIY flux, combine borax and sodium carbonate in an equal amount. Add 3 to 4 pinches of flux for each ounce of gold melted. If the gold is particularly dirty, you may add a pinch or two more of flux. However, keep in mind that applying too much flux might cause it to eat through ceramic crucibles.
Melting Gold To Go Over An Existing Charm
Q. Me and my husband are getting new wedding bands for our 25th anniversary, what I would like to do is purchase two charms for each of my children, then have those charms dipped in our wedding gold rings, is this possible?
Q. My mom died this year and I have her and my dad’s gold wedding bands. I wanted to get them made into a hammered gold keychain as a memento . I don’t need it to look great I know melted gold has impurities. But is it even something that can be done?
A. Hi Christie, yes it can be done. The alloys may vary but as you say, you don’t care what it looks like. There has to be enough surface area on the rings to make the hammered keychain. You will have to find a Goldsmith or jewelry maker that’s willing to do it for you.
Q. I want to melt down my 14k gold chain and bracelet with small diamonds in it into teeth or a tooth — can it be done and how ?
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Online Sources Where You Can Get Gold Melted Down
Where can I get my gold melted down? While you may be in a hurry to get your gold bars equipment and jewelry melted down for an emergency.
Maybe you are just tired of hoarding all that load of unused gold that takes up space in your closet. Whatever your reasons are, the question is, where do you go to get your gold melted?
Sure, you may try looking around your local jewelers and pawn shops for the quickest end to this process. This is not the most profitable or safest method to melt your gold. Here are some suggestions on online jewelry refineries that may be able to help you out.
Sarahs Ring Blessed By The Pope
My client Sarah was given a wedding band from her grandmother that was blessed by the Pope. Her Nana wanted it to go into her wedding ring when she married. Sarah wanted to honor her deceased Nanas wishes.
Sarah had three rings from her Nana in addition to the blessed band and wanted to use them all. Two of them did not have a karat stamp. They were gold, but the karat of gold was a mystery. My gold refiner agreed to refine her small amount of gold. Refining it removes the alloy metals as much as possible from the gold content.
We added 50% new gold to the mix and alloyed it freshly. After her single casting was done, I gave her the leftover sprue of gold.
Her relationship with her Nana was very important to her. Having her engagement ring made with some of her Nanas gold meant the world to her. The extra cost involved was not an issue. I was glad to be able to help her. We both had to pull out tissues when I delivered her ring to her.
In smelting and melting for pure gold, that is, gold of 24-kt. value is very much too soft for jewelry purposes and it is therefore always alloyed with other metals to increase its hardness and resistance to wear. For the same reason pure silver is seldom used alone but is alloyed with copper, the standard alloy being sterling silver which contains 92.5% silver and 7.5 % copper. The metals commonly used for alloying gold are silver, copper, nickel and zinc.
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Can You Melt Down The Gold From Old Jewellery To Use In New Jewellery
Recycling gold or melting gold jewellery to make a new piece is a great way of using jewellery of sentimental value or to save a bit of money on the current eye-watering cost of gold and Siobhan has made many pieces this way. The gold ring pictured here for example was made using the clients old gold rings.
If you have gold jewellery which you dont wear but still has great sentimental value, it could be reused in your wedding or engagement rings to make them even more special.
White gold cannot always be recycled from old jewellery into new jewellery due the different alloys used by other manufacturers but most yellow golds can be melted down and reused. So if you have yellow gold that youd like to reuse it should be ok subject to it being weighed and tested.
Alternatively, we can accept your old white or yellow gold as part exchange for a new piece of jewellery. We will be happy to give you the equivalent of what we would get from scrapping gold at the bullion dealers which is higher than what the usual gold buying places tend to offer.
Please contact us for current gold prices as these change on a daily basis.
Melt Gold With A Metal Melting Furnace
If you want to melt a lot of gold for DIY projects, a metal melting furnace may be a smart investment.
Melting gold in furnaces with Borax is easy! You will need scrap or jewelry pieces and Borax and follow the steps below:
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Alternatives To Selling Gold
There are a lot of reasons that you might wish to sell your gold. Maybe you realize that you own gold you dont need and want to cash it in for a large purchase or other investments.
Or you might have inherited the gold and dont want to deal with storing it.
If youre selling gold because youre in financial trouble and need help making ends meet, there might be alternatives.
Many gold buyers wont give you the actual value of your gold if youre desperate to sell it. And knowing the other options can provide you with time to get the full amount for your precious metals.
It can also help you avoid selling jewelry or other gold with sentimental value.
If youre experiencing a financial emergency or are facing an unexpected bill, a personal loan may be a good way to get the money that you need. Check out thislist of the top personal loan companies.
You will have to pay the loan back, and youll pay interest on the money that you borrow, but it can save you from selling gold that you dont really want to sell. It can also buy you time to make sure you can get the full value of your gold.
While borrowing money shouldnt be your first resort, there are some situations where it makes the most sense, especially when the alternative is selling something for far less than its worth.
Can You Melt Silver And Gold Coins
The Mint has made it illegal to melt coins in the past as well, from 1967 to 1969 it was illegal to melt silver coins, as the price of silver at the time was higher than the face-value of the coin . Melting one-cent coins was also illegal from 1974-1978 for the same reasons.
In addition to it being a big no-no to melt down pennies and nickels, you also cannot take more than $5 worth of pennies and nickels when you go out of the country. So youll still be able to give your friends U.S. coin gifts if thats your kind of thing.
It is also currently illegal to melt down and sell gold and silver U.S. coins, though it is okay for coin pressing, or for making jewelry and other creative projects. Basically as long as youre not profiting off it, its alright.
To add, you may have heard that defacing U.S. money is illegal , apparently its only illegal if youre doing it to counterfeit other denominations or years of coins or bills. If you just want to draw some bunny ears on the Presidents faces, you shouldnt have anything to worry about. But dont melt and sell pennies and nickels!
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Why Is It Illegal To Melt Pennies And Nickels
As we know, coins contain a few different types of metals. They used to be mainly gold and silver, but now coins are a composite of a few things. Coins are mainly made of copper, zinc, and nickel. Those metals used to be relatively inexpensive, but now their prices have risen and theyre more valuable than they used to be.
In 2006, copper prices were on the rise. Copper is a main metal in pennies and nickels, and the amount of copper in those coins became worth more than the actual face value of the coin itself!
The Mint, foreseeing coins being pulled out of circulation and melted for people to profit off, implemented an interim rule that made it illegal to melt nickels and pennies, or to export them in mass quantities. Naturally, this would cost the government and taxpayers money, because coins would be needed to replace the ones that had been melted down.
We are taking this action because the Nation needs its coinage for commerce, said Director Ed Moy. We dont want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers.
In an interview with ABC News in 2006, Mint Director Edmund Moy said that if only 1% of all nickels and pennies that are in circulation were melted down, taxpayers would have to foot a $43 million bill Obviously thats not ideal for anyone, so making it illegal to melt pennies and nickels was the answer to this.