When most people think of cash for gold operations, they tend to think of the fly-by-night buyers, or of the individuals with broken and unworn scrap gold jewellery. Few will consider that professional jewellers and jewellery makers can also benefit by selling their old gold jewellery, gold scraps and even bench sweeps to a reputable gold buyer.

Considerations for Jewellers

1. It is not uncommon for jewellers to have cases of old stock, sometimes large amounts of it bought when gold was less than $10.50 a gram. Accept reality – it will never be sold if it hasn’t sold by now. By removing any gemstones and packaging into smaller lots to send to a reputable refiner or recycler jewellers can often get more money for the scrap than they would from the retail price of the finished piece! Don’t hoard old gold waiting for commodity prices to climb even higher. Doing so will make the task of boxing and shipping both time-consuming and overwhelming, and increase the chance of sorting errors.

Jewellers bench sweeps

Jeweller's bench sweeps

2. Work with gold buyers who will properly assay your scraps and bench dust. Don’t sell to buyers that look at the whole batch of material and give you an eyeball estimate; they are allowing huge margin for errors. Know who you’re selling to, check references, find out if they are the end-user / refiner or another expensive link in the chain.
3. Make sure you ask to be paid for all the precious metals in your shipment. Don’t forget that your bench sweeps might contain silver as well as gold. Don’t forget that 14K is roughly 20% silver, ot that white gold contains palladium. By reminding your buyer that you want to be paid for all precious metals, you can increase your return by a significant percentage.

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