Selling scrap gold for profit can begin by rummaging through your jewelry box, looking for broken earrings or gold chains. A buyer for the gold can be as close as the nearest jewelry store or pawn shop. First, do your homework and go online to find out the going rate of gold, which can change significantly from one week to the next. When checking out gold prices, be advised that gold buyers and sellers might be talking about a troy ounce, as opposed to a regular ounce. One pound is 12 troy ounces, and each troy ounce equals 20 pennyweight units.
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