If you need extra cash quickly, selling gold jewelry could be the way to do it. But before doing anything else, it is crucial that you understand its true worth before proceeding with any sales transaction.
Gold can be found in jewellery, coins and bullion (bars or ingots). The cost of any particular piece will depend on its purity – measured by karats.
Local Buyers
If you own gold jewellery, coins or scrap that you no longer use it is wise to sell it for cash as this could help pay off debt, fund vacation expenses or put toward down payments on new homes.
Gold & gold jewellery can be sold for cash through either local buyers (coin shops, precious metals buyers or jewellers) or online platforms. Local buyers typically offer instantaneous payment allowing you to get paid almost immediately once an offer has been accepted.
Advantages to Selling gold Melbourne locally include their greater likelihood of being reliable buyers who offer honest prices for your items and will usually deliver your money within 24-48 hours after sale.
When searching for a local gold buyer, be sure to verify their credentials and reviews on sites. Furthermore, ensure they are part of a reputable trade association which requires members to meet high ethical standards.
Online Buyers
No matter the form or size of your gold items – jewellery, bullion bars or coins – there are online buyers that will pay cash for them, making selling easier while saving you time.
Select an online gold buyer that specializes in your type of item for maximum return – they should pay you maximum amounts!
As part of your search to secure the highest price for your gold, another way to do so is to visit various pawn shops and jewellery stores nearby and negotiate. Be sure to read reviews from organizations such as Better Business Bureau and Yelp before conducting further research on price guarantees or insurance terms offered by these stores.
If you own brand name gold jewellery, contacting a local jeweller could be the most profitable solution to sell at a higher price than through a pawn shop. Be mindful that some jewellers may deduct for any precious or semi-precious stones in your gold.
Pawn Shops
Pawn shops offer a great way to quickly make quick cash by selling unwanted gold and jewellery items quickly, but before selling to one there are certain considerations you should keep in mind before selling to them.
Make sure that you bring all receipts, boxes and bags that accompany your jewellery in order to secure the highest possible price from pawn shops; failing which they may offer you less money than they should.
As a rule of thumb, when selling gold to a pawn shop it’s advisable not to mix its karat ages as this will mean not getting the highest offer possible for it.
Notably, pawn shops typically only accept physical gold of higher purity levels for purchase; 14K and 18K gold tend to sell for higher prices than 10K gold; however, there may be other factors which influence you’re pricing as well.
Jewellery Stores
If you own gold or gold jewellery that you no longer wear, selling it to a jewellery store for cash could be the ideal solution. These stores typically provide instant payments, making them great options for those in need of fast cash.
However, it is important to keep in mind that these stores don’t pay the full value of your gold as they must purchase it from middlemen first before selling it on to you – this reduces their profit margin significantly.
Before selling to a jewellery store, it is advisable to get an appraisal for your gold or jewellery to ensure a fair price is offered for it.
Conclusion
Finding out the value of your gold is easily achievable by visiting a trusted jeweller or coin dealer who can weigh it and determine its karat weight and purity – this step is especially useful as different grades of gold will have different values.
