How to Calculate the Value of Scrap Gold?

Do you possess scrap gold? Then don’t worry, you can sell it. The prices of gold are likely to rise while the economy is flat or at the time of inflation. But, prior to putting your valuables for sale, you must know their actual worth to be certain that you are receiving a fair amount in return. Do you want instant cash for gold in north Delhi? Then reach out to the most trustworthy gold buyers in the city.

A majority of scrap gold buyers do the calculation secretly. You can get every detail you want to determine the worth of your item for yourself.

A Few Tips for Knowing the Actual Worth of Your Scrap Gold

  1. Get a magnifying glass to interpret the karat number on your jewelry

Checking whether the gold is real or not is the initial thing that you need to do. Separating your jewelry by its karat weight will aid you in evaluating its worth and indicating items that aren’t even gold.

You can have the gold tested with the help of a trusted gold dealer in case it is unreadable. There can also be a likelihood that some of the gold is simply gold-plated that a gold dealer would find out with assurance with a chemical test.

2. Do an acid test on your valuables

Do an acid test if you are unsure whether or not an item is gold even after examining it using a magnifying glass. For doing an acid test, you’ll need a gold testing kit or the separate components that make one for you.

You can buy supplies online or visit a jewelry store in person for this acid test. The testing kit will have 14k, 18k, 10k, and 22k bottles of testing acid (usually nitric acid). It’ll too consist of a testing stone (touchstone/ streak stone) that’ll be prepared with various materials like novaculite.

If you have a suspected 14k jewelry piece, rub the jewelry on the testing stone and put a drop of 14k acid onto the mark it leaves. In the case of a 14k jewelry piece, it’ll resist the acid and not change. In the case of 10k gold, the acid will become brownish. If it fully vanishes, it is not even gold.

3. Make use of the Skey test

For this test, first, buy a gold tester or gold verification pen using the Skey technique. The gold testers can cost about only $50, and 1000 tests can be performed.

Compared to the acid test, this test is much safer. Also, it’ll test precisely on metals like white gold.

In case of suspected items, gently write a line (not more tha ¼ inch) and go over the same line four times without taking the tip of the pen out from the test metal. Write a line on any white sheet right away.

If the item is below 10k, the line will become light brown and turn green in just a few moments. If it is 10k and 14, the line will become light brown and dark brown, respectively.

4. Keep the coins separately

If you own gold coins, they might hold a numismatic value that is more than their metal value. This generally depends on rarity, age, and overall state. The ultimate option in this situation is to visit a coin dealer for evaluation. This can be a worthy decision because you might be able to gain more profit.

Final Thoughts

The value of your scrap gold entirely depends on the prevailing gold price. Therefore, to have the most profitable deal, you choose to visit the best gold buyer in Karol Bagh.

Related Articles