Gold is known to be the best asset one has. It helps in raising money whenever required and can not be denied by banks or any other shops. But, what if you want to sell gold rings Melbourne? You might have certain jewelry that has got damaged somehow or is of no use to you. If you want to get rid of your jewelry you can sell them as scrap gold. These scrap gold are sent to refineries so that they can be melted down and recycled. Any metal that has gold and goes through reprocessing is considered to be scrapping gold.
Weight and Purity
Weight and purity are the two main factors on which the value of Gold depends. Therefore, it is important to know the price of gold per unit weight and to be aware of the carat of the gold. This will help you in estimating the value of your scrap gold. To know the value or the price that will be paid when one sells gold, there’s a mathematical solution that can be applied. One can multiply 75 gm with the current market price of Gold per gram. The result will help you to get an estimate of the worth of your gold jewelry.
Sources of Gold
There are various sources from which gold can be found for the purpose of getting scrap gold. Some of them are as follows:
Jewelry is the best and probably the easiest way to derive gold. Gold jewelry is often worn by women and is kept as an asset for future investment. But some jewelry that looks exactly like gold might not have any gold metal in it, but certain jewelry might be misunderstood as silver jewelry, but in reality, it might contain the white gold metal. One can be confirmed about the gold content in jewelry through the hallmark that is present in every gold jewelry be it pendants, rings, or necklaces.
- Computer and smartphones
Computers and smartphones have a processor and a connector, these processors and connectors are made with gold. Most electronic goods like televisions, gaming consoles, printers, and others contain some amount of gold. Gold can be derived from these goods and used as scrap gold, but it needs a lot of knowledge as the process of receiving scrap gold from these is complex as it involves burning the goods till they are crisp and then using cyanide or acid to segregate gold from the objects and selling it in the market as scrap gold.
Embroidered clothing is often known to have gold embroidery. Gold is known to be ductile which means that it can be converted into thin strings which are then used on clothes, it is especially famous for bridal wear in India. With the help of a magnifying glass, one can see broken threads of the gold strings on a dress that has real gold embroidery. This is the best way to determine whether the Gold is real or just plastic as gold has the tendency to break just like any other metal.