How To Buy Scrap Gold For Profit Apr 2026

Real gold is not magnetic. If it sticks, it’s likely steel or iron with a thin plating.

If a ring has a large stone, you must subtract the estimated weight of that stone from your total weight before calculating your offer. how to buy scrap gold for profit

To look for hallmarks or signs of "wear-through" where base metal shows under gold plating. 3. Where to Source Scrap Real gold is not magnetic

Never rely on a "14K" stamp, as many items are counterfeit. You’ll need: To look for hallmarks or signs of "wear-through"

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.

Example: If gold is $2,000/oz, a 14k ring weighing 5 grams is worth roughly $194 in pure gold content.