Now that a good amount of content exists at GoldEducator.com™, people have started to ask me for a very concise place where a new person can start to learn what they need to know about buying gold and silver bullion and scrap, step by step. In this area, the newbee Gold Scrapper will find the key knowledge needed in order to start finding gold or silver scrap (or if you just have gold you want to sell and figure out what it is worth, then "Cut to the Chase").
A) Learn the basics before you spend a single cent:
- How much is gold scrap or bullion worth? Learn about spot price and precious metal content
- What types of gold are there? (9K,10K, 12K, 14K, 18K, 22K, 24K)
- What's the difference between Solid Gold, Filled Gold, Rolled Gold, Plated Gold, Heave Gold Plate, and HGE? (Night vs. Day)
- How can I REALLY be sure what kind of gold I have?
- Is there fake gold or counterfeits? You betcha!
- Did you know that a standard pound does NOT equal a troy pound? A standard ounce does NOT equal a troy ounce. A gram however, is universal
B) Buy or gather up some equipment before you start
- Magnifying glass a.k.a. Loupe
- Digital scale (Kitchen food scale, postal scale, gram scale, scientific scale etc)
- Pliers to free gems from your gold scrap
- Acid and a scratch stone to validate the karat type
- Automatic Gold & Silver Calculator to determine the value of your booty
F) Where will you acquire the metal from?
- Flea Markets? <-- Area was just created on 5/9/10 and needs significant content added yet
- Gold Parties? <-- Area not yet created, stay tuned
- Family & Friends? <-- Area not yet created, stay tuned
- Craigslist <-- Area not yet created, stay tuned
G) How will you track the money you make (and report it for tax purposes)? <-- need to create this area yet