If you are going to start buying scrap gold, you want to make sure that you know what you are doing. You don't want to spend your hard-earned money on scrap gold and then find out that it is worth less than you paid for it. Following a few guidelines can make it easier for you to find the gold that you are looking for. So, what are some of the guidelines you should follow?

Plate vs. Real

One of the guidelines you need to follow is to learn how to tell pieces that are just gold plated instead of made completely of gold. In the case of making money from buying scrap gold, gold plated pieces are basically valueless because everything under the gold plate isn't worth much comparatively. If you can't be sure whether or not you are looking at gold plate, you should make sure that you have a test kit with you so that you can test the piece to see what kind of gold that you are interested in buying. There are small test kits that you can take with you when you are buying. That will make sure that you are getting real gold and should be able to tell the purity level of the gold available. 

Know What's More Valuable

It's important to know what kind of item is going to give you the most money when it comes to selling scrap gold. For example, if you have two piles of scrap gold that are the same weight and the same purity level, but one is broken pieces of jewelry and the other is a pile of coins, the pile of coins is more than likely going to be more valuable because coins are generally worth more than broken pieces of jewelry. 

Track the Price

If you are going to buy gold, you need to make sure that you are keeping track of its price. It tends to go up and down and you want to buy when the price is on a downswing and sell when it's the other way around. That is going to be the best way to make money. 

If you are going to start buying gold to make some money, following some guidelines can help you purchase the gold that you want at a better price. This way, you can turn around and easily sell it. For more information, contact a scrap gold buying company.