This is a stark difference to the dental scrap field which has been around for decades, since dentistry began, gold has been used as an excellent tooth repair medium for centuries.  It contains properties that make it superior for many applications.  It’s used in the making of a gold tooth, fillings, inlays, dentures, bridgework, dental crowns and more.  As a scrap gold buyer the majority of gold you’ll see in a dentist’s office will be in the form of a gold crown or dental bridges.  These items have been removed from patient’s for many years and/or replaced, some dentists will give them back to the patient and inform them of their value but many will not and keep a stockpile, some will cash their pile in yearly, others will hold on to it for a decade, some for the duration of their career as a sort of retirement nest egg.

Overnight, however, the gold merchant industry seems to have gone from these very limited roots to becoming a legitimate business that has made a large number of people very, very rich. What caused this to occur so quickly? Experts suggest that there are a lot of reasons relating to the economy that have contributed to it, but these reasons are only a small part of the story – a lot of it has to do with the business savvy and competence of the gold merchants themselves, and their ability to eye out areas of potential profit and seize these areas quicker than any of their competitors are able to do so.

Take, for example, the booming trade in dental scrap. It is very difficult to see the connection between the dentist’s office and the gold merchant’s shop, and at first glance there may seem to be no obvious commonalities between them, but in fact the gold industry is quite heavily dependent upon the scrap gold that is generated as a result of the dentist’s trade. Dentists deal with a lot of patients who use fillings, and a lot of these fillings – all, in fact – are made of precious metals, with gold being a very popular one. These fillings need to be replaced as time goes on, and this means that the average dentist’s office will have a very large amount of scrap gold flowing through it. Of course, this gold is still gold, and so it retains its value. It is not as usable in the raw form that the dentist receives, perhaps, but when processed to remove impurities and irregularities, and then melted down and re-created as gold bars, it is basically no different from gold in any other form.

As a result, then, it makes a lot of sense that gold merchants make a huge deal out of plying dentists for the chance to purchase the large amount of scrap gold that flows through their offices, little do these merchants know that dentists are keenly aware of the value of their scrap.  The dental industry is huge – there are a lot of dentists’ offices in modern western countries, and each office deals with a lot of customers that use dental fillings – and thus they receive a lot of gold. This represents one of the easiest and cheapest places from where gold merchants can purchase their gold, and so there is bitter competition between gold dealers to secure the rights to purchase scrap gold from dentists’ offices. And when we say bitter competition, we mean bitter competition – the gold dealing trade is a very cutthroat one, and a lot of dealers employ tactics that are designed to squeeze their competitors out of the business as soon as they possibly can.

Generally, these dealers are large enough that they can afford a few months of not making a profit off their dental scrap, because they know that they will create a good relationship with the dentists, and will be able to compete more effectively against the other dealers as a result. The dentists, of course, simply want to get the highest prices that they can, and so they will go with dealers or refiners who offer the highest price.  In this way, the large dealers use their influence and size to persuade dentists to deal only with them, at the expense of their competitors.

If you are entering this business, then, it is best to know what you are doing. Not only will you be facing some very tough competitors, but the nature of the business itself requires a lot of expertise – after all, you are dealing with gold, a material that has a long and infamous history of trickery. Gold is a very fickle metal, and can deceive – the most lustrous gold does not necessarily mean the purest. In fact, purity of dental scrap is usually no more pure than 80% at best, and on average is about 65% pure (in other words, slightly less than 18 karat). The rest is usually alloyed (that is, mixed) with a variety of other metals, which can range from zinc to copper to tin. It takes an expert to be able to gauge the value of gold, because as mentioned above, its visual appearance can actually have very little or nothing to do with the quality of the metal.

There are several types of materials you’d be dealing with from dentists, let’s look at a few now.

1. Dental scrap can be a big money making business but without knowledge you can also lose your shirt in a hurray.  The key is to make sure you know what kind of material you’re dealing with, test everything, and don’t take anyone’s word regarding the karat of the scrap, especially the dentists!

There are many, many different gold and other precious alloys used in dentistry today. They range from 30% alloys, or 7K, to pure gold, or 24K. These alloys can range in color from white to yellow, so color is not a reliable indicator of value. We will concern ourselves with yellow alloys primarily, as this is what the majority of ‘good’ gold is.

There are many precious metals used in dental applications today, they can vary from 7k or 30% actually gold content alloys to 24k or .999 fine gold.  The colors range from deep yellow to white thus the color of the metal is not an accurate indication of the metal.  Other precious metal you’ll find when melting lots of dental alloys are palladium and silver with trace amounts of platinum.

As a general rule if you come across a deep yellow bridge or filing you will find it’s at least 66.5% gold content or 16k, this is also a good average with lighter colored scrap.

2.  Another alloy used is dental amalgam, in the past this was used in fillings and is normally around the 70% silver content, the remainder is made up of zinc, copper, tin or copper, the dentist would then mix this with mercury.  Older dental amalgam contained mercury, you’ll find that many refineries will not deal with it due to Environmentally Protection concerns.  After the dentist finished he mix the resulting amalgam would contain approximately 30% actual silver.

3. Another material contain precious metals in the dentists surgurey is dental fixer solution, this is used when developing dental x rays. Dental fixer solutions can have up to 1 oz of silver per gallon of solution, some dentists pour the solution down the drain, others will save it in large drums.  If one was ambitious enough you could offer a service to provide the dentists with the drums and pick them up on a regular basis, this will get you into the office and allow you access to his gold scrap in the future.

4.  Dental X Ray Scrap film also has amounts of silver to be worthwhile if you’re collecting other material at the same time.  After 7 years dentist clear out the films but some store them longer. This material is bought by the pound and obviously it takes a great deal of film to add up to a pound and a decent amount of silver as well.

If you are an expert in gold, however, there is a lot of room for people in the dental gold industry, which has grown so huge that now gold dealers themselves are looking for experts who will be able to help them price the scrap gold that they find at the dentists’ offices. Obviously, this is a lot less risky than going into the gold dealing business on your own, and it is equally rewarding, as these skills are in very high demand. There will always be a place for people who have a good eye for value when it comes to dental gold.  Dental alloys like any sector in the cash for gold business can be competitive, providing great service and competitive pricing will go a long way in securing the continued favor of dental professionals.

Before you start looking to sell silver it helps to know a bit about the history of the market and how quickly things can change. For example, in the 1980s the price of silver soared and there was a huge rush to sell any item of silver people could get your hands on. However, just as the price of gold scrap fluctuates so does the price of silver, it can drop just as quickly as it rises and overnight the silver prices plummeted due to a financial deal gone wrong. Today, the market for selling silver is much more stable but you still need to be aware that the price fluctuates almost continuously.

Whether you’re selling or buying silver the unit of measurement is the Troy ounce. When selling silver you need to know exactly how much it weighs so that you can get an accurate price from the dealer. Although the price of silver is considerably less than gold it has made some impressive increases over the last 2 years so it will be  easy to sell because the price is only dependent on the purity of the silver and the weight – there’s no craftsmanship or jewels involved. On the other hand, if you’re selling silver jewelry you can often get a much higher price.

The following list will provide you with a good idea of what is considered scrap silver and what a  buyer will purchase from you,  it consists of a wide variety of items, most of which contain a minimum of 80% actual silver content  such as:

• Jewelry (should have one of the following hallmarks; Ster, Sterling, Stg, 800 or 925)
• Older coinage (usually pre 1968 in Canada and the U.S.)
• Sterling Silverware
• Silver Coins & Bars
• Silver Electrical Contacts
• Dental scrap can contain silver
• Dental amalgam (some can contain mercury so don’t attempt to melt it yourself)
• Silver from photo developing, xrays and paper

When selling silver you should always make sure that you visit a reputable dealer that you know can be trusted. Unless you have specialist knowledge in the field of jewellery and metal it can be difficult to know the price of a particular item so you need to know that the information the dealer is telling you is correct. Even so, there are certain things you can do to ensure you get the best possible deal. For example, before you visit a dealer you should always check the current spot price of silver so you know roughly how much you can expect, remember you won’t get the whole spot price as dealers need to make a profit as well.  For example if you were to buy silver, as in bullion bars, you could expect to pay spot price plus a bar charge, at today’s prices for each ounce you purchase you can expect to pay an additional $1-2 per ounce if buying in 100 oz bars, if you’re buying smaller bars the bar charge will be a little higher.  When you’re selling your silver bars check with different dealers, you’ll find most will pay anywhere from 90 to 95% of spot price.  If you’d like more indepth tips on where to sell silver this is a good place to start.

While you may not be able to get exactly this price – the dealer needs to make money selling it on – you should at least get close to it.  Buying and selling scrap silver can be a profitable venture but silver is a funny thing, when I started out I made more mistakes and lost more more with silver than with anything else.  Now my golden rule is that if it does not have a hallmark that I recognize I do not buy it period, sellers will always swear up and down that they know for certain it is real silver but you are the expert and the second rule to follow is when in doubt do nowt, which means if you’re not sure do nothing.

There are three main options when it comes to get cash for gold. The first is to use an online website that provides money in exchange for any gold that you might have. The advantage of using these sorts of sites is that the process is simple and you’ll receive your money quickly. The disadvantage is that the amount of money you receive may be much lower than through other methods.

Another option is to use a jewelry store. This is obviously the best choice if you have a piece of intact jewelry but some stores will also be willing to buy gold to use as scrap. Even though you can often get better prices from local dealers you also have to be aware that their prices will be a lot less standardized and hence more open to haggling.

You also have the option of going to a pawn shop to sell your scrap gold. Again, prices are not standardized and could change depending on which store you visit so it’s vital to get a second opinion before making a decision.

When selling gold it’s imperative that you know the current scrap gold prices otherwise you risk getting ripped off. If you don’t know the current price (and remember that it can change on a daily basis) then you have no idea whether the deal being offered to you is a good one. You shouldn’t rely on the honesty of scrap gold dealers or cash for gold websites even though most of them will offer you a fair deal the majority of the time. You should also remember that the price offered will depend on the weight of the gold so make sure you weigh any gold you plan on selling before visiting any local dealers. This will allow you to get an idea of the price range you’re willing to accept.

With the state of the economy lately, one new phenomenon has been in the area or scrap gold. So exactly what is scrap gold?  Basically gold scrap consists of anything a person or business wants to sell that has gold content. The most prevalent is unwanted gold jewelry, you’ve no doubt seen the plethora of commercials telling you to sell your scrap gold for top prices these days.

I purchase precious metals for a living and have been doing so for over 10 years and are scrap gold buyers. The majority of the material we purchase is from individuals who have unwanted or broken gold jewelry. They are selling this material for a variety of reasons, some need the extra money, some of it is broken or out of style, some has been inherited and people would prefer to have the money as there is no real emotional attachment.

Types Of Scrap Gold

Gold scrap in jewelry form can consist of any of the following items:
(Any karat i.e. 9k, 10k, 12k, 14k, 18k, 21k, 22k or 24k)

• Gold chains and necklaces
• Bracelets any karat size of condition good or broken
• Earrings pairs or singles any karat or condition
• Brooches
• Old Class Rings
• Gold Rings
• Wedding Bands
• Gold Pendants
• Gold Bangles
• Gold Watches (preferably with karat gold band as well)

Other Types Of Gold Scrap:

1. Dental gold such as filings, bridges, partial etc, if the dental gold is fairly yellow in colour it generally tends to be 66.5% gold content or 16 karat. Good quality dental gold will retain a good yellow colour without tarnishing and will feel heavy and solid when you lift it. The downside of dealing with dental gold? The worst thing is handling it when there is remaining tooth matter, root or porcelain remaining. Most individuals I deal with who have dental gold to sell are older clients for obvious reasons, the others include active and retired dentists as well as funeral home owners.

2. Electronic scrap, although items such as computer boards and cpu’s contain some gold overlay it takes kilograms of it to add up to a significant amount.

3. Gold Plated or Gold filled items i.e. Jewelry etc., again you need a significant amount of material (kilograms) to add up to substantial value.

4. Old Gold Coins can also be considered scrap, pretty much any recent modern day coin under 22 karat would be considered scrap and meltable, a shame sometimes but with the recent increase in gold prices they’re worth more melted than as coins.

5. Gold bars, any bar with a recognized refiners name would be bought as bullion but would be something more gold buyers should purchase.

6. Silver, of course gold is probably the most well known precious metal sought after from the general public but with the increases in metal prices, scrap silver is also be highly sought out.  Jewelry, unwanted sterling silverware and even electrical contacts are items that are starting to fetch good prices with the spot price of silver edging higher.  Many people, including myself feel silver is undervalued and I believe it will break the $50/ounce mark in the near future, I’d advise hanging on to your silver a little longer if you can.

The Price Of Scrap Gold

The price you can expect to sell your items for will be dependant on a number of factors. Firstly scrap gold prices are and should be a direct reflection of the price of gold on any given day.

Everyone wants to receive a fair value for their items but you need to be aware of a couple things. Major refineries do not deal with the public or individuals, this is where the middle men or scrap gold buyers come in. In the past the only place most people would think of to take their scrap gold jewelry would be to the pawn shop.

Historically pawn shops have paid a very small amount for people’s jewelry and are probably the worst place you could go to sell scrap gold jewelry.

Okay so now you know there are Refineries then Scrap Gold Dealers. Refineries will pay a scrap gold dealer approximately 96 to 98.5% of the actual gold content of the scrap. The average consumer will not be able to get this rate of return so accepting that fact is what you should do first.

So how do you get the best price when selling scrap gold? What you should do is compare the prices being paid by a variety of gold buyers, visit their websites, if they don’t list their prices move on, the reason they don t list price is they are not paying competitive rates.

Make sure their prices are current and have no conditions, I’ve seen many they have fine print stating you need a minimum of 100 grams to receive these rates, most people have smaller lots so they’ll receive much less. Also make sure they are listing their prices in grams and not pennyweight. Some companies try to fool you by listing their price in pennyweight or dwt which make their prices appear higher.

With the current influx of new competition in the scrap gold market it’s forced many reputable companies to raise their prices to remain competitive which is good for the consumer.

Watch out for cash for gold scams, I recently saw one national advertiser stating they were paying 30% more over the holiday season. I can’t help but think how low their prices must have been to begin with if you’re offering a 30% increase! Anyways this company has a very poor track record and has been feature on 60 minutes in a negative way, the owner was rude and arrogant in the interview, I guess it all comes down to advertising to the masses with them and having no conscience.

We have been operating in the cash for gold industry for over 10 years and pay some of the highest rates in the industry, as with any business we need to make a profit to survive and we pay 80% of the actual gold content for scrap gold jewelry.