The idea to buy scraps is brilliant though you may still be unaware of that. Well, let me explain to you why it is such a good idea to buy scrap gold (hereon named scrap). First and foremost, let me tell you what scraps are. Scrap is anything that is made out of gold or has gold in its components.If you buy scrap, you should only buy ones that are made of pure gold if you do not have the facilities to extract gold. So how do you know if the scrap you are buying is pure or not? Most jewelry are made of gold mixed with other metals such as silver, copper, platinum, etc. 24 carat gold is pure gold with nothing else added, it is absolutely pure. Now if you have the facilities to extract then you can buy gold in any form. You must know that there are different types of gold, depending on its purity.