If you're looking to invest in a precious metal, scrap gold might be something to consider. It can hold its value and there are a lot of varieties to go after today. Just make sure this advice is considered before you complete a scrap gold transaction with a seller. Get a License In some states, you'll need to obtain a license before you can legally buy scrap gold from sellers. Thus, you need to take care of this regulatory matter before getting heavily involved in these scrap gold transactions with other parties.