If you want to get into buying scrap gold, you have to learn what the tools of the trade are. There are a few supplies you'll want to invest in when you start buying gold because they can make the job of identifying and classifying gold easier.
The following are six supplies you might want to have when you're getting started buying scrap gold.
A high-quality scale
It's essential that you have an accurate scale so that you can measure out quantities of gold precisely. Using a scale to verify quantities of gold is the only way to be sure that you're getting a good deal when you buy gold.
If you don't weigh scrap gold before buying it, you might accidentally end up spending more on a purchase than the actual quantity the gold in question is worth.
Nitric acid
As a buyer of scrap gold, you're going to periodically find yourself needing to verify that a particular substance is real gold. There are numerous ways to do this. One of the most common methods is by using nitric acid.
To test to see if a substance is gold with nitric acid, you need to apply the nitric acid to a mark the metal makes on a black stone. If the mark dissolves when it comes into contact with nitric acid, that proves that the substance is not pure gold. However, a mixture of nitric and hydrochloric acid should dissolve real gold.
You should learn how to properly perform an acid test on gold and have both nitric acid and hydrochloric acid on hand so that you can do so when necessary.
A lydite or slate testing stone
A lydite or slate testing stone is another valuable supply to have on hand when you need to test gold. When gold is rubbed against such a stone, it should leave behind a distinctive mark. This mark helps prove that a particular substance is really gold.
Tweezers
Tweezers come in handy when it comes to handling gold. This is especially true when it comes to handling fragile gold jewelry pieces.
Loupe
A loupe is a magnifying glass that is specifically designed to be used to examine jewelry. A loupe comes in handy when you're dealing in scrap gold jewelry items that could include embedded gemstones and other delicate components that add to the value of the gold jewelry.
A safe or safe deposit box
You don't want the gold that you purchase to be easily accessible to burglars. You should protect your gold by investing in some secure place to keep it.
If you want to keep gold in your own home, you can invest in a safe that you can use to store your scrap gold and other valuables. If you're ok with storing your gold outside of your home, you might want to consider renting a safe deposit box at your bank or at another facility near you with strong security.
Keep these tips in mind when you are looking to buy scrap gold.
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