Saturday, December 19, 2009

Selling Scrap Gold on Ebay - An active marketplace for Precious metal


This is a two minute intro to selling gold on Ebay.
You will need a scale as shown in this picture. You can buy one on Ebay for about 20 bucks I think. You will need to show the marking of the Kt weight of the gold as in this pic and the scale reading. Gold is worth over 1,000 an ounce now and well everyone has some kicking around. The Ebay market for Gold scrap is very active and competative. Roughly speaking the price you get varies and you can research this on Ebay but if you take 14kt gold the calculation might be 14/24kt (14kt over pure gold at 24kt) then multiply the amount of grams you have divided by the number of grams in an ounce.
27.2 grams of 14kt gold as show in the picture would be 14/24 x 27.1/28.3495231 (grams per ounce) x a price of 1,000 per ounce of gold comes out to about $557 market value.
You wont get that though as the person buying it needs a profit so they usually offer 70-90% of that amount depending on how reliable you look as a seller and how eager they are to have more to melt down.
There was also a great guy that posted an ebook on this subject which I loved but Ebay banned ebooks so look on the net for Selling Scrap Gold on Ebay, maybe he is still kicking around! Good luck!

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