There is a new trend going around of people buying and selling scrap gold. If you want to join this trend, whether you are searching to sell or buy gold, a scrap gold calculator can save you from getting a bad deal.
Gold recycling went up last year with the rise of the demand for gold during the pandemic, and people started to see more value in scrap gold. Reports show that gold is the second most recycled metal after lead, with an average recycling rate of over 50%. Nonetheless, there is a significant variation of this rate depending on the recovery source. Only 10-15% of gold is recovered from electronic devices, whereas 70 to 90% of the gold used for industrial applications is recovered.
Scrap gold is a huge fashion on eBay lately. When you search for gold scrap on eBay hundreds of results come up of “potential” deals, but it is hard to say if they are convenient.
The most found items are:
- Small jewelry items, mostly mixed up lots, said to be made of gold.
- Electronic pieces like computer circuits and boards.
- Dental teeth or other dental appliances.
- Strange items like “gold plated” door handles.
- Various objects like cutlery.
Interestingly enough, gold bullion and coins don’t show up on the search, probably because they have fixed values and will sell better to a formal gold buyer if they are genuine.
The real question here is, is this real scrap gold or just scrap? It won’t come as a surprising fact that in most cases the scrap doesn’t have gold or has very little, that is why people are selling it on eBay instead of going directly to a gold refiner that will pay better.
So if you manage to find some real gold to buy or if you want to sell your own, a scrap gold calculator will be helpful to get the best possible price. And if you want to use the best one, Core Scientific’s scrap gold calculator is the best choice as it has live gold prices, you can use the weight measurements of your preference, you can calculate the price for different gold karats, and it even gives you the estimated price of the refining services.
But why is scrap gold wanted so much? Refining unwanted gold jewelry or other gold scrap is good for the seller because it gets them a profit, and is good for the environment and the market. The higher gold demand of the last year was called the “modern gold rush” and newer supplies of gold are needed to meet that demand. Recycled gold is going stronger every year and that is the reason why scrap gold is such a boom.
Now, if you want to invest in gold scrap, no matter where you find it, our advice is to always work with a leader gold refinery, like Core Scientific, to get the best possible return. Core Scientific is the best gold refinery because they use the latest refining and assay technologies, which allows them to give you the best profit. They are also a reputable company with the highest standard of transparency. If you are searching to refine your scrap gold, contact Core Scientific!