Does Condition Matter When Selling Precious Metals
Oct 5, 2023
{
"Title": "Does Condition Matter When Selling Precious Metals? A Step-by-Step Guide",
"Date": "10/05/23",
"Content": "
Understanding Condition and Value in Precious Metals
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Many people who are preparing to sell gold, silver, or other precious metals wonder whether scratches, dents, chips, or visible wear will lower the amount they are paid. Fortunately, when you sell for melt value, the condition of your jewelry, coins, or scrap does not reduce the weight-based payout. What matters most is the purity (karat or fineness) and the weight in grams.
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Why Condition Usually Does Not Matter
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Gold and silver are valued by their content, not by how shiny or new they look. A scratched or broken bracelet, a dented sterling fork, or even a dental crown can all be melted down and refined into pure metal. Because the refiner extracts usable gold or silver from the item, surface appearance has virtually no effect on melt value. The exception is when items have collectible or numismatic value—such as rare coins or branded designer jewelry—in which case collectors may pay more than melt value.
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Precious Metal Identification Basics
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Karat Stamps on Gold
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10K = 41.7% gold
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14K = 58.5% gold
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18K = 75.0% gold
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22K = 91.6% gold
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24K = 99.9% pure gold
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Look for small stamps marked “10K,” “14K,” “18K,” etc. Sometimes you’ll see “417,” “585,” “750,” or “916”—these are international fineness marks representing the same levels of purity.
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Silver Hallmarks
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“925” or “Sterling” = 92.5% silver
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“800” = 80% silver (common in European flatware)
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“Coin Silver” in U.S. = typically 90% silver
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Simple At-Home Tests
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Magnet test: Precious metals are not magnetic. If your piece strongly sticks to a magnet, it’s likely plated or base metal.
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Weight check: Use a pocket scale that measures in grams. This helps estimate value before sending in items for professional testing.
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Acid or electronic testing: More accurate, usually performed by professionals. Expect jewelers or buyers to test as part of evaluation.
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Dental Gold and Other Scrap Items
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Dental alloys often range from 10K to 18K. They may be bonded with porcelain or contain small amounts of non-precious metal. If handling at home, do not attempt to separate materials with chemicals; instead, place the dental pieces together in a small bag, keeping them labeled. Condition—such as discoloration or shape—does not reduce gold value, only purity and weight matter.
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Weighing Your Metals
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Use a small scale that measures in grams. Melt values are calculated by multiplying weight in grams by purity percentage and then by the current market price of gold or silver per gram. For example:
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Item | Weight (g) | Karat | Gold Content % | Gold Weight (Pure g) |
|---|---|---|---|---|
Broken 14K Chain | 10 g | 14K | 58.5% | 5.85 g |
Dental Crown | 2 g | 16K (approx) | 66.6% | 1.33 g |
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Even if the chain is scratched and bent, or the crown is misshaped, the important number is the gold content in grams. Buyers calculate offers using this math, not condition.
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Sorting and Preparation
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Steps for Organizing Metals
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Separate gold by karat if possible (10K in one bag, 14K in another).
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Keep silver items together—separate sterling from plated if you can identify marks.
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Remove non-metal parts when safe (e.g., fabric, string) but do not risk injury trying to pry stones or components free.
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Label small bags with karat or type for clarity.
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Packing and Shipping Safely
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Use a sturdy box, seal bags securely, and include a copy of an inventory list. Photograph items before sending. Services like USPS Insurance & Extra Services and Priority Mail or Registered Mail help ensure shipment safety. Private carriers like FedEx also have insured and trackable services.
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What Happens During Testing
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Expect evaluators to weigh items on a precision scale, check hallmarks, and perform magnet, acid, or electronic tests. The process confirms purity and weight. Scratches or cosmetic blemishes do not reduce payouts for melt value.
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Payment Options
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Once items are tested, you can usually choose different payment types:
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PayPal: Fast, but fees may apply.
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Venmo: Quick transfer to linked accounts, limited daily caps.
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Zelle: Direct to bank, fast but requires both parties enrolled.
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Cash App: Mobile convenience, withdrawal may take 1–2 days.
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ACH transfer: Secure deposit to your bank account, often takes 1–3 business days.
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Check by mail: Slower, but useful if you prefer paper documentation.
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Safety and Record-Keeping
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Take photos of each item before mailing.
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Create a simple list showing weights and stamps you noted.
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Keep tracking numbers from your carrier.
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Optional: Use organizational tools like GavelBase to log items and payments.
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Quick Checklist
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Check for karat stamp or hallmark.
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Weigh items in grams.
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Sort and label separately.
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Photograph everything.
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Pack securely using insured, trackable shipping.
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Expect clear testing results and select your payment option.
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FAQs
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Does damage reduce value?
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No, not if selling for scrap or melt. A dented silver spoon is worth the same per gram as a mint one, assuming purity and weight are identical.
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What about gemstones?
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Buyers typically pay only for the metal. Stones may be returned to you upon request.
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Are plated items worth anything?
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Plated gold and silver generally do not have resale melt value, since the precious layer is very thin.
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What about coins?
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Circulating U.S. coins such as pre-1965 dimes, quarters, and half-dollars contain 90% silver. Their condition rarely matters for melt, though rare issues may hold collectible value. See the U.S. Mint specifications for details.
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Conclusion
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When selling unwanted jewelry, dental gold, coins, or silver items, condition generally does not matter if you are paid by metal content. Focus on identifying purity, weighing accurately in grams, and shipping securely