Scrap gold can be a good investment, but it depends on what form of scrap gold. Scrap gold comes in a variety of forms, but the most popular shape of that is used jewelry. First of all, most of the time you can buy used jewelry with the price of scrap gold (no cost of labor). Secondly, some used jewelry that people want to sell are still usable. Depending on their condition, it might be worth to polish or fix them. By doing this, the jewelry may be used as is or as a scrap gold investment. Keep in mind these tips and be careful when buying jewelry from anyone.