To make money, you typically aim to buy at 60%–80% of that melt value. 2. Essential Testing Kit
(Spot Price / 31.1) x (Karat Purity / 24) = Value per Gram . how to buy scrap gold for profit
Profit is made in the "hunt." Look for gold in places where the seller wants quick cash: To make money, you typically aim to buy
These have very little gold and are generally not worth buying for scrap profit unless you have massive quantities. Profit is made in the "hunt
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.
Faster than a refiner but they take a bigger cut, usually paying you 80%–85% of the melt value. 5. Common Pitfalls to Avoid
A stone and various acids (10k, 14k, 18k, 22k) to check for reactions.