Did you know you can sell scrap gold for fun or profit; the timing is excellent. Prices for scrap gold are high today and expected to remain so for some time. The spot prices for gold currently are about $1100 USD, as of March 2010. If you have old gold jewelry that is broken or that you no longer want to wear, now is the time to sell those pieces. Chances are you will receive a lot more for your scrap gold than what you paid for it years ago when prices were much lower.

Broken jewelry is expensive to repair. You can sell it and buy something new and fitting today’s fashions instead of doing those repairs. Jewelry that you no longer want or just are not wearing should be recycled out so you can enjoy something new and different that you will wear.

Selling scrap gold is very simple and there are many scrap gold buyers to choose from. Naturally, you should not expect to receive the current spot gold price for scrap gold. Your buyer has to resell it and make their profit, so they will offer a slightly lower amount. Still, the scrap gold prices are decent today.

You can sell scrap gold at local pawn shops, gold and silver merchants, jewelry stores or at one of many online scrap gold buyer websites. When you sell scrap gold to an out of town buyer, normal procedure is to request a selling package from them. They mail you a special postage paid envelope in which to return your scrap gold. Mail it back to them and they will contact you with an offer to buy your gold. If you accept their offer, they send you a check. If not, the items will be returned.

Local pawn shops are easy to work with, but they also offer less to make a profit on reselling items. Just check out their offer after then look at your items, weigh them and figure gold content amount. If you’re looking for more information on getting the most for your unwanted gold jewelry check out the cash for gold insider.  Leave with cash in hand! Sell scrap gold for cash, for fun!