💼 How to Start a Scrap Gold Side Hustle (Legally) – And Where to Sell It for Cash Fast

If you’ve ever found a broken gold earring in a drawer or bought a $10 bag of junk jewelry that turned out to include real gold—then you already know: Scrap Gold is serious money.

The best part? You can start a scrap gold side hustle with almost no equipment, no storefront, and little risk… as long as you know how to do it right—and legally.

Let’s break down exactly how you can start your own Scrap Gold hustle, spot valuable gold, stay legal, and most importantly—where to sell your Scrap Gold for real cash.

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🔍 What Is Scrap Gold?

Scrap Gold refers to any gold item that’s being sold for its metal value rather than its aesthetic or collector value. This includes:

• Broken jewelry

• Single earrings

• Damaged chains

• Old gold dental work

• Gold coins and bars

• Gold nuggets

• Even electronic components with gold pins

If it contains real gold—it’s Scrap Gold, and it can be flipped for a profit.

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💡 Step 1: Know the Legal Basics

Before you dive into buying or reselling Scrap Gold, make sure you’re on the right side of the law.

✅ You’ll need:

• A valid ID when selling gold

• To record purchases (especially from the public) depending on your state

• A secondhand dealer license if you start buying large amounts regularly

• To report high-dollar purchases depending on IRS guidelines

💬 Pro Tip: If you’re not sure what applies to you locally, start small by selling gold you already own or from friends/family—you won’t need licensing right away.

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🛠 Step 2: Tools You’ll Need

Getting started flipping Scrap Gold doesn’t take much, but here’s what helps:

• Jeweler’s Scale – Measure in grams to know weight

• Gold Testing Kit – Acid tests help you determine karat/purity

• Magnifying Glass – To find tiny stamps (like 10k, 14k, 18k, etc.)

• Gloves & Bags – Keep your finds sorted and clean

• Optional: A gold price calculator app to check live spot prices

You can get most of this for under $50 online.

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🧭 Step 3: Where to Find Scrap Gold

Now here’s the fun part: Treasure hunting for gold most people overlook.

🔍 Top Places to Find Scrap Gold:

• Thrift Stores & Pawn Shops (yes, they miss stuff)

• Flea Markets & Estate Sales

• Craigslist & Facebook Marketplace Deals

• Storage Unit Cleanouts

• Junk Jewelry Lots on eBay

• Friends & Family Who Don’t Want Their Gold

If you advertise yourself as someone who buys gold, people will bring it to you. And yes—it’s legal as long as you keep records and follow state laws.

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💸 Step 4: Where to Sell Scrap Gold (This Is Key)

Here’s where most people screw up…

They take their Scrap Gold to a pawn shop, and they get paid pennies on the dollar.

Don’t do that.

🏆 Sell to Lucky’s Coins – Roanoke & Vinton VA’s Trusted Gold Buyer

We’re specialists in gold—not a pawn shop juggling video game systems and power tools. That means we:

• ✅ Test your gold for purity on the spot

• ✅ Weigh it in front of you

• ✅ Pay based on current market value

• ✅ Give you cash on the spot – no games, no lowball offers

We buy:

• Scrap gold

• Broken jewelry

• Dental gold

• Gold coins & bars

• Antique/vintage gold jewelry

📍 Visit us at: 521 Hardy Rd, Vinton, VA
📞 Call us at: 540-389-3600

If you’re local, bring your haul in—we’ll make you a cash offer while you wait.

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🧮 Step 5: Know the Gold Value Math

Here’s how we (and you) calculate Scrap Gold value:

Weight in grams × Purity percentage × Current spot price per gram

Example (Just An Example):

• 14k gold = 58.5% pure

• You have 10g

• Spot price is $65/g

➡️ 10g × 0.585 × $65 = $380.25 value

Knowing this helps you negotiate when you’re buying gold from others—and helps you see what your stash is really worth before you sell. Remember most places pay a percentage of the gold value. Most places pay 80% – Some pawn shops only pay 60%.

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🎯 Final Tips to Succeed in the Scrap Gold Hustle

• Always test before you buy

• Don’t assume something is gold—look for stamps (10k, 14k, 18k, 22k)

• Check dental work and broken stuff—they often contain high-karat gold

• Sell in larger batches to maximize your payout

• Build a reputation locally—people will bring their Scrap Gold to you

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💰 Ready to Sell Your Scrap Gold? Let’s Make a Deal.

Whether you’re just starting your Scrap Gold side hustle or cashing in on a big find, Lucky’s Coins is your trusted, local buyer in Roanoke and Vinton, VA.

We’re fair, fast, and we pay real money—not pawn shop prices.

🟢 Walk in today or call ahead:
📍 521 Hardy Rd, Vinton, VA
📞 540-389-3600