How To Buy Scrap — Gold For Profit

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.

Many states have "Anti-Money Laundering" and "Secondhand Dealer" laws that require you to hold items for a certain period or collect ID from sellers. how to buy scrap gold for profit

Scour listings for "broken jewelry" or "old charms." This is the most profitable route

(Spot Price / 31.1) x (Karat Purity / 24) = Value per Gram . how to buy scrap gold for profit

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