This is the next logical thing to consider. Just as people will pay you money for non-precious metals, they will also pay you more for precious metals. The important part is to know where you find precious metals and where to sell them.
You are probably asking yourself, where am I going to find gold, silver, and other precious metals? The good news is that they are in many items around your house. Do you have old cell phones, computers, and other electrical devices around your house that are no longer of use to you? They likely have gold and/or silver in them. Gold is a semiconductor and you will find it in many electrical devices, although typically in small amounts. But small amounts, over time, build up.
Ask your friends and neighbors if they have any old cell phones, computers, etc, that they want you to get rid of. They probably don’t realize that their items have some value. Also, check the internet, especially Craigslist for people giving away old items that may have precious metals inside.
Opening up these items and extracting the metal is not easy. Some people recommend not doing it yourself. There are numerous videos on Youtube that show how to safely open up various devices to extract gold and the other metals. If you exercise basic caution and common sense you should not have any issues.
There are companies on the internet that will sell you gold and silver home refining kits. I am not going to endorse any particular product here. Some say that this process is too dangerous to be done by untrained individuals on their own. But many times these opinions seem to be voiced by people who are in the refining business who would benefit from you not doing it yourself. As always, you have to figure out what you are capable of and make your own decisions.
If you have extracted and refined your metals yourself, it is important to know the value of what you have. Using an electric tester you can find out the gold karat or silver purity. After figuring out the purity, weigh the item and look up the spot price. Expect a dealer to pay under the spot price, but not much. Don’t let those money for gold companies take advantage of you by offering you a fraction of what your item is worth.
As always, obey all laws. Don’t steal or do anything else immoral in this side scrapping business. Finding treasure in unexpected places can be a lot of fun, but only if you are honest and stay out of jail.
