Have you ever thought about selling gold scrap for cash? Unwanted gold items – like broken jewelry, an old watch, or even a dental crown – could be worth more than you’d think. With gold prices hitting record highs throughout 2025, there’s never been a better time to sell. Here’s your step-by-step guide to getting maximum value for your gold.
Gather and Sort Your Scrap
First, it’s time to start your treasure hunt – check the bottom of your jewelry box for things like broken chains, single earrings, extra buttons/cufflinks, or anything that you simply don’t want anymore. Go for the gold first, but don’t forget about sterling silver – while not as valuable as gold, it still adds up and is worth selling!
Once you have your scrap collected, it’s smart to identify and sort the metal by purity. Start by looking for karat stamps. These little markings can be hard to see, so use a magnifying glass if you have one. Look for markings like:
- 16k
- 14k
- 18k
- GF (gold-filled)
- V (Vermeil: a layer of gold bonded to sterling silver)
- 925 – indicates sterling silver and/or gold vermeil
Purity markings are a great indicator of your jewelry’s gold content, but they’re not always definitive. If an item lacks a stamp yet appears to be genuine gold, it doesn’t hurt to include it in your scrap collection for evaluation.
Research Current Gold Prices
Like all commodities, the market price of gold fluctuates daily. It’s smart to get a gauge on current metal prices before comparing potential buyers. While the exact purity of your scrap cannot be determined without refining, having a general understanding of its potential worth will help you avoid being undervalued.
Checking gold’s spot price is easy – just search ‘current gold spot price’ or visit trusted sources like Kitco, The Wall Street Journal, or GarfieldRefining.com – you can find the latest prices in our website’s header. Keep in mind: the daily spot price is quoted for 24k pure gold, measured in troy ounces. Your scrap’s payout will depend on karat purity and weight.
Research Refining Companies
Ultimately, all scrap gold gets recycled. This process takes place at a refinery, where the metals are melted down, purified (refined), and formed into pure gold bars. These bars are then sold to manufacturers who use the gold to make products like jewelry, bullion, and even electronic parts.
One major advantage of selling your gold directly to a refinery is that you’re cutting out the middleman, which yields a substantially higher payout. Selling to a cash-for-gold store may be convenient, but you’ll pay a premium.
Jewelers and Pawnshops
You can also sell your scrap to a local jeweler or pawnbroker. Local shops have the upside of face-to-face interactions, and some even have professionals who can assess your gold’s purity and value. However, because they’re not refiners, they typically can’t pay you for the full value of your scrap, because the exact makeup of the material can only be determined during the refining process.
If, for instance, you have a reputable jeweler or pawnshop within walking distance and would prefer an on-the-spot payment, this may be the option for you. But if you’re not in a rush to sell in real time, sending your scrap to a refinery will get you the highest payment!
Selling Gold Online
Selling gold online has become increasingly popular. After all, it’s convenient: just click a few buttons, request a shipping kit, send in your material, and get paid.
But here’s the catch: many online gold buyers are just scrap aggregators acting as intermediaries; they’ll ultimately sell your scrap to a refinery.
When comparing different sites, look for signs that the company is actually refining the metal themselves. An authentic refinery will provide information about their process, photos and footage of their melters in action, and plenty of verified customer reviews.
Working with a refinery like Garfield offers the best of both worlds: convenient at-home selling and a fair payout.
Garfield: Trusted Refiner for Over a Century
Congrats – you’re now an informed scrap seller! Whether you have a single gold crown, a collection of jewelry or something in between, Garfield Refining can help you get the most for your precious metals. With over 130 years of refining expertise, we serve jewelers, pawnbrokers, dentists, individual sellers and more. Our exceptional service has awarded us ‘Best Scrap Refiner’ by Dentaltown Magazine for 14 years running!
Ready to sell your gold scrap? Get started today with a free shipping label!