Tips for Scrap gold buyers pickers FAKES Red Flag - stories

[@steelhorses2004]

I'm gonna have to try the smell technique. I've been seeing a lot of 14k marked plated bracelets and small chains sold in mall kiosks and even qvc. Magnet picks em out real quick. Best tool I have for sorting. Yeah color and feel is off but saves time verifying with acid or tester.

[@higgpigg4326]

It's called Profiling

[@scottaskew804]

I have a question as a gold buyer...occasionally I get a chain that I have no doubt is gold, it tests right with acid and with my electronic tester, nothing is out of place or abnormal about it(fakes will often have an odd clasp or overly large or too many karat marks for example), but it is slightly magnetic. When dangling they show slight attraction to a strong magnet. What do you know about this and how do you handle it? I did some looking and found a vague explanation that sometimes a ...

[@paulnhbtx713]

Great video!

[@scottaskew804]

and I should say, it isn't plated. I go well below any plating with the acid and I scratch it on the stone and will put a drop on the chain. I have also cut them in half to look for a base metal core and nothing.

[@scottaskew804]

different alloy is used such as nickel(I think was the example) was used at one time for people with certain allergies. I could use some insight if you know anything about this. Thanks.

[@MrRhinosilver]

Your video is very helpful. I've been buying for about a year and have gotten burn at these prices those are big mistakes.. caught a couple of brass pieces with the smell test. Thanx

[@Profitwithgoldsocial]

Thanks for these very helpful tips. Me I do sometimes buy a scrap gold because it has still a good value.

[@divineangelic2727]

Hi my husband has a 10k class ring that he’d like to take to pawn shop too ..?Is pawn shop good place to bring your gold jewelry thank you

[@ScrapGoldExpert]

without knowing your skill level of determining what is and is not, alloy gold, I can't really. You should get in the area of $20. per gram. If they say they buy or quote prices in pennyweights . dwt's just leave. No pawn shops most often pay in the neighborhood of 50% of scrap value . hope that helps

[@divineangelic2727]

Hi I have three 10 k gold vintage watches Gruen .Bulova , Elgin that don’t work I’d like to go to pawn shop to sell how much should I expect to receive maybe just for gold content ? I don’t know how they will view it. Maybe they want to fix watches and resell them ? How much do you tho k they will sell for I’m hoping to go tomorrow. Can you please give me some idea thank you

[@ScrapGoldExpert]

without knowing your skill level of determining what is and is not, alloy gold, I can't really. You should get in the area of $20. per gram of weight with the works and crystal removed, resale value on the pieces is not an issue, no one wants them. A crystal is the plastic or glass covering on the face of a watch (typically 1 gram or less). The works refers to all internal parts. If they say they buy or quote prices in pennyweights . dwt's just leave. no pawn shops most often pay in the neighborhood of 50% of scrap value . hope that helps

[@ScrapGoldExpert]

I you are finding this happening often, get a weaker magnet. Thanks for the question it was a good one.

[@ScrapGoldExpert]

for those that do not know " a point is 1% - 1 point = .01 carat 1 part of 100 / 100 being 1.00 carat of diamond

[@ScrapGoldExpert]

@steelhorses2004 If you see folks selling marked items that are not, you really should call the police not 911, and or Mall security, and the property manager, it reflects back on the property as a whole.

[@databaseexpert]

Thank you!

[@rickyjace4468]

Are you selling those rings

[@steelhorses2004]

@ScrapGoldExpert I try really hard to stay out of malls Haven't been in one in maybe 5 years :) But that's where customers tell me they're getting the fake stuff from. Must be really cheap cause when I show them how a magnet picks it up they don't act too surprised. I've gotten 4 or 5 in the last couple months

[@MillionaireGoldDealer]

good tips! liked and subsribed keep up the good work

[@marcs2960]

What percent do you pay of the actual value of the gold... assume the total value of the gold is 1000 dollars... what would you offer that person

[@ScrapGoldExpert]

since I was 19 it's always been 90% just last year SilverTowne "my refiner" changed hands and changed my pay rate - So, now I pay 85% / your example would be $850. per/$1000

[@christophercasey3823]

i want that bracelet

[@ScrapGoldExpert]

I too have ran across a few of the chain types you mention. The ones I've seen are normally dainty and white, if I find them coming in the door I just don't buy them. However, I believe they are gold of the marked purity, due to their unique characteristics I could not re-market them to customers, and since I send my scrap parcels in 50+ ounce lots I would not be able to pinpoint them as bad after melt. So I would pass on them or pay little for them, I find the occurrence rare.