Best place to sell scrap gold

Gold is graded according to its purity. Pure gold is 24-karat and is normally found in coins like full sovereigns, half sovereigns or in gold rings. The spot price is based on 24K gold.Most gold jewelry has had metals mixed in with the gold to strengthen the piece. So jewelry is worth less than pure gold depending on its karat rating.
Most jewelry will have a karat number on it.

Gold buyers sometimes run acid or electronic tests, which will confirm the purity of the gold.
The lower the karat rating, the lower the amount of gold in an item.

* 18-karat gold is 75% gold
* 14-karat gold is 58.3% gold
* 12-karat gold is 50% gold
* 10-karat gold is 41.7% gold

When selling gold jewelry, always check to see if it is 9k, 14k, 18k or 24k Gold.

Some gold buyers use scales which are set to grams. There are 31.1 grams in a troy ounce.
Once you know the type of gold you own and its weight, you have a starting point to negotiate a price.

Jane Morris of Oxford, accompanied her sister as they shopped for the best deal on her scrap gold jewelry. “Previously, we had taken the scrap gold to a jeweler.” Morris said, “They did not weigh it in front of us. When we left there, we did not take their offer.”
After a few days, that decision paid off for them.
When Morris and her sister took the same gold jewelry to a hotel, where a licensed precious metals dealer had set up shop, they got an offer of twice as much for the same gold.

Check Different sources for the best price for your scrap gold. The online ones are not as good as a refiner, but a good starting point to get a price.

“They did explain everything perfectly to us,” she said. “So we were very pleased with the price we were able to sell the old gold for.”

The Third Golden Rule for selling gold is: do your homework on the company with whom you are dealing.

The final golden rule: Bartering is the way to go in the gold buyer’s market, so shop around for the best deal when selling your scrap gold.