The term "scrap gold" usually refers to karat gold jewelry that is at least 10K that is broken, damaged, or out of fashion and no longer worn. It typically includes chains, earrings, bracelets, anklets, charms, rings, watches, money clips, lockets... any item made out of gold.

Gold always retains it's value as a precious metal and any gold object can be melted down and then made into something else, even if it is just scrap gold in it's current form.

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