Paying top dollar

for your diamonds since 1980

What Is Scrap Gold?

Posted on May 26th, 2016 by Joe G

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 have dealt in coins and metals since the 80s. Had dealings with many dealers. Got scammed by a few. Chicago Gold is the only one I would recommend to my family or friends. Have your valuables appraised by them before you sell.

Date: 05/12/2022 • 5 / 5 stars ★★★★★

Awesome place!

What a super knowledgeable gemologist. After all that experience also they are soooo willing to help and answer all the questions I had. Excellent experience. They went above and beyond for me. Highly recommended. Super trustworthy.

Date: 01/20/2022 • 5 / 5 stars ★★★★★

I'll be back

Cashed in some silver coins and received a very fair exchange. Joe and Chris, were very friendly, and comfortable to deal with. Came back with some jewelry, and received a rough appraisal...again no pressure.

Date: 11/15/2021 • 5 / 5 stars ★★★★★

I would do business with them again

I found the Chicago Gold Gallery to be a very honest and reputable shop. I would highly recommend this store to anyone buying and selling their possessions.

Date: 05/01/2021 • 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- Fri: 10:15am-6pm, & Sat: 10:15am-5:00pm

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