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for your diamonds since 1980

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What Is Scrap Gold?

Posted on May 26th, 2016 by JoeG

The term “scrap gold” refers to any form of gold or precious metal that is sent to a refiner to be melted down and recycled. Therefore, any item that contains gold that is no longer of use to you, broken or reusable can be reprocessed and sent to refiner and be considered scrap gold. Gold is valuable because there is only a fixed amount of it on earth. It can not be made in a factory, however, it can be reused over and over. It is the ultimate recyclable material.


What Qualifies As Scrap Gold?

Just about anything qualifies as scrap gold including the following:
• Bracelets and chains
• Gold Watches
• Gold coins
• Gold crowns and dental bridgework
• Gold solder
• Gold pins
• Broaches
• Any form of gold in any karat which includes industrial gold, silver, platinum & palladium


We would not consider antique or items from designers such as Cartier, Tiffany & Co., David Yurman, Van Cleef & Arpels, etc. to be scrap. If items like these are in your gold ,silver, platinum and palladium we will make sure that we take the time to separate them from your other scrap gold pieces.

Do You Have Scrap Gold?

If you have unused items of precious metals in any form in your home bring it to an experienced scrap gold dealer such as Chicago Gold Gallery, that can buy your gold jewelry. The value of your scrap gold, Silver, Platinum & Palladium depends on two main factors: the weight and the purity. It does not matter what karat gold you have, the experts at Chicago Gold Gallery will carefully assess, inspect and evaluate all your items individually to ensure that you will get the best price for your gold. Chicago Gold Gallery offers a transparent process that will give you confidence you are getting the best price. 36 years of experience in the same location since 1980.

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Customer Testimonial

Had a Great Experience

"I drove all the way from the south side just to sell my silver to Chicago Gold Gallery because of the knowledge and professionalism I received on the phone. They gave me top dollar for my silver and were so fast and friendly. I definitely recommend this business!"

Date: 10/27/2017 • 5 / 5 stars ★★★★★

Can't say enough about this place.

This is the most welcoming, non-pretentious place to do business! I was researching where to sell sterling silver I had and ended up choosing here based on the other great reviews. They walked me through the whole process and answered my questions. I got a great price for my items & will go there again.

Date: 09/17/2018 • 5 / 5 stars ★★★★★

Love this place!

Chrissy & Joe are all super friendly and easy to work with. I trust them and they will do whatever they can to help you including giving you advice on what you have or what you should look for. I won't ever go anywhere else and I've recommended it to several friends.

Date: 08/02/2015 • 5 / 5 stars ★★★★★

I would do business with them again

I had a large collection of silver coins sitting in my safe deposit box for 15+ years. Chrissy was so friendly and helpful she even gave me advice about coins I didn't know. She was more than happy to help me for over an hour in between taking care of other customers. They really did give me top dollar for my coins. Whether you are new or a pro with coins, I can highly recommend you take them here!

Date: 02/22/2020 • 5 / 5 stars ★★★★★

Don't Hesitate to call...

I find that Joe at Chicago Gold Gallery consistently offers and pays more for my coins than coin dealers in Chicagoland. He's very nice and easy to deal with. Don't hesitate to call him and preferably visit him.

Date: 12/04/2015 • 5 / 5 stars ★★★★★

How to Reach Us?

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Contact Us

Get the most for your valuables.

1236 W. Devon Avenue
Chicago, IL 60660

Phone: 773-338-7787 Email:

Hours: Mon-Sat: 9am-6pm

Especially Wanted

  • Gold & Silver Coins
  • Bullion Gold, Silver, & Platinum
  • Scrap & Old Gold
  • Sterling Silverware
  • Dental Gold
  • Coins & Coin Collections
  • Franklin Mint
  • Collectibles
  • Rare Coins
  • Antique & Modern Jewelry
  • Diamonds
  • Watches - Rolex, Patek Philippe
  • Broken Jewelry
  • Tiffany & Company - Cartier
  • Vintage & Modern Guitars