3 Options For Selling Scrap Metals For Cash

Posted on: 20 May 2018

If you have a bunch of old or broken jewelry or other precious metal items you want to turn into quick cash, then it is important you know your different options for selling them. While many places advertise "cash for your scrap gold or silver", these three options will give you the most money for your metals and ensure you get the best sales price:

Sell Your Scrap Metals on eBay

Before you sell any jewelry or other metal items for their scrap metal price, you should do some research on eBay or Google. For example, even though Aunt Betty's wedding ring isn't to your personal taste, that doesn't mean that it doesn't have a high market value to someone searching for a vintage ring. Since many older pieces can be sold as "vintage" for a lot more than their scrap value, you should always research anything you have to sell before finding a buyer.

Once you have checked to make sure there isn't a better market for your unwanted precious metal items, you can easily list them on eBay. For unbroken items, you can list them in the vintage jewelry category. For broken items, list them for their scrap value in eBay's bullion category. 

Sell Your Scrap Metals to an Independent Jeweler

Independent jewelers purchase scrap platinum, gold, and silver to create their own pieces and repair others. Since they have to buy their metals from somewhere, you can often sell yours to them at a near-market price. In fact, if you have a local jeweler who will buy your scrap metals, they will likely give you the best price.

Sell Your Scrap Metals to a Metal Buyer 

If you live in an area of the country where metals are mined, then you can sell your scrap to them. Metal buyers don't care if their gold comes out of a local mine or from your broken gold chains wasting away in your jewelry box. The metal will all be melted down together, and metal buyers will pay you the current market price for your gold items.

A Warning About Fly-by-Night Metals Buyers

Finally, it is important you avoid selling your scrap metals to a fly-by-night "buyer" who sets up a temporary shop or "scrap jewelry buying party" in a local mall or hotel room. This type of buyer often gives you a very low price for your scrap metals and preys on people who don't know the true value of the scrap metals they have to sell.

Contact a company, like Longhorn Jewelry Exchange, for more help.