Finding Real Gold to Resell

Finding Real Gold to Resell<br /><br />Cheap gold is everywhere if you know when youre seeing it Gold is trading at sky high amounts these days, and Im going to venture to guess that you would like to get in on the action. I have been able to make thousands of dollars in pure profit without buying expensive Krugerrands the official South African gold coin.<br /><br />Gold is everywhere<br /><br />First, I will admit to being a shameless bargain hunter, and do most of my shopping at garage sales, flea markets and thrift shops. I have found cheap gold for resale at all of these places, and will let you in on my secrets.<br /><br />Most important. if you see a box of junk jewelery, bend down and start looking. Most people dont find gold jewelry because they cant be troubled to look. I go through most boxes of jewelry people put out for sale, and if theres real gold in there I will find it.<br /><br />You wouldnt believe the beautiful gold jewelry I have bought for $1 or less.<br /><br />And sometimes I keep the jewelry for my own use. My biggest haul was a 23 gram 14k gold watch chain purchased at a thrift shop in California for $4.<br /><br />What I look for<br /><br />Real gold is dull; fake gold is bright. The genuine gold you will find will likely be vintage, which acquires a patina.<br /><br />Gold doesnt oxidize or tarnish, so ignore the flash and look for the quality. What you will find that is real is usually a single earring and a broken gold chain. Real gold for scrap usually isnt fancy.<br /><br />If you have genuine gold jewelery such as chains, look at the way the pieces have been constructed, particularly at the ends where the findings are. Costume jewelry usually has a different construction. Also, signs of finish wear mean a piece of jewelry isnt gold.<br /><br />Gold filled looks like gold, but it isnt accepted for scrap. Its usually marked 120/10K I have been fooled a few times by gold filled jewelry.<br /><br />Test before reselling<br /><br />Before selling anything, I always test my gold using a gold acid testing kit.<br /><br />Lets say youve found something that may be gold, but you need to be sure. An acid testing kit is indispensable. I also invested in a small jewelry scale to test my gold.<br /><br />There are more expensive and high tech ways to test gold, but the acid test is an old, simple and effective technology that disintegrates every metal present except for gold. The 10K bottle has a weaker solution than the 14K bottle, which has a weaker solution than the 18K bottle. Silver, platinum test bottles contain a different solution, so they arent interchangeable.<br /><br />Heres how you test your gold: A kit will come with a touchstone, which you will use to scrape a small sample of the gold. If your piece is marked 14K, use a drop or two of the acid from the 14K gold bottle and see if the scratch remains on the touchstone. If it does, you have a positive. This is gold.<br /><br />If the scratch dissolves completely, it isnt gold. If the scratch dissolves, but gold flakes rise to the top, you may have 10K gold. Test again with the weaker 10K solution.<br /><br />Buy low, sell low?<br /><br />Everybody has seen the ads from jewelers screaming Highest prices paid!<br /><br />They want to get their hands on your gold, but highest prices arent paid by jewelers. They pay 1/2 to 1/3 what you would get from a refiner a place where gold is actually melted down for recycling. A jeweler recently offered me $6 a gram for gold; the refiner gave me $17. Nuff said.<br /><br />Where do you find a refiner?<br /><br />In the business yellow pages, or use Google to find one. Theyre usually located in cities with jewelry exchanges.<br /><br />If you dont have an exchange anyplace local, there are refiners that will pay cash for your gold if you simply mail it to them using the postage paid envelope they provide. Im running an ad for a refiner, and I feel this company is honest and used them myself. I requested an envelope, sent along a little gold and got a nice check. But use whatever refiner you like; just dont bring your gold to a local jeweler.<br /><br />The price fluctuates all day long so its difficult to predict exactly what youll get. Selling to a refiner is always a better bet than a jeweler if you want to sell your gold.<br /><br />I run a site about living cheaply, and economizing. Getting gold for next to nothing is one of the best skills I can pass along. She reports on minutiae and the big things you care about, so pay attention. View profile<br /><br />Find Almost Free Gold at Thrift Shops Yard Sales Beginner GuideThere is gold and silver everywhere from thrift shops, consignment shops and yard sales. Much of it is mispriced because most people do not recognize gold marks. Buy a $15 Bracelet and sell it for $118.