Q&A for How to Buy Scrap Gold

That depends on what the gold per ounce is worth at the time you buy and what gold per ounce is worth by the time you sell. That's entirely up to the investment numbers and not the product itself.

Sometimes it's stamped with something that says GF on it. This means Gold Filled. If there's green oxidation on the surface, that's typically an indication but the only way to be sure is if it's tested with gemological equipment or gold testers.

Gold will only tarnish after 50-60 years. If you have gold that's old enough to be tarnished, removing the tarnish will most likely devalue the gold as the tarnish is showing its antiquity so don't de-tarnish gold.

China plates have a gold plating or basically painted layer of gold. There is almost no value whatsoever in that so it wouldn't be worth removing it.

If you Google "gold refinery near me," you'll get the closest local results.

Buying and selling gold on any scale other than that which could be considered a hobby (VERY small amounts) will necessitate your obtaining a license wherever you live in Australia. You'd also have to register with AUSTRACK Anti-Money Laundering.

Gold melts at a relatively low temperature, so there are a variety of smaller hobbyist forges available online, as well as tutorial videos on how to make your own inexpensive (albeit less durable) forges. You will also need a crucible in which to melt, and ingot molds sufficient for the volume of scrap you will be melting.

If you can verify your suspicion, don't buy the gold. Otherwise, keep a record of the transaction, including name, address and phone number of the seller. Hold on to that information forever.