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Selling your Gold for a Good Price

by Olufisayo
Selling your Gold for a Good Price

A lot of us will have gold in our houses such as jewellery or coins, and if money is short selling your gold is an excellent way to get some quick cash.

It is common with a lot of people that at some time in their lives the bills will mount up, and the money runs out. In times like this when money is short, a good way to get some quick money is to sell some valuable items such as gold jewellery. It is not always a nice thing to do, but sometimes needs must.

So if you ever find yourself in a situation such as this, you will need to make sure that you can get the best price possible for your gold. Knowing just what your gold jewellery is worth will help you get the best price possible, so your money stretches just that little bit further.

Selling your Gold for a Good Price

The Best Jewellery to Sell

Jewellery comes in a variety of different shapes and sizes, as well as highly differing values. The purer the gold and heavier that it is, the more the jewellery will be worth, no matter what type of jewellery it is.

  • Gold Rings
  • Gold Chains
  • Gold Bracelets
  • Gold Earrings
  • Gold Pendants
  • Scrap Gold
  • Gold Bullion and Coins

When you look to sell any gold jewellery, you will most likely be offered the scrap gold valuation, which will also take into account and precious stones that the item has. Quite often, this comes as a surprise for people that they will not be able to get a similar amount for what they paid for it at a jewellery shop. The reason for this is that the jewellers will often sell items of jewellery with a high mark-up, usually very much higher than the cost of the raw materials to make the piece of jewellery.

When you go to sell the item, it will be examined to determine the purity and weight of the gold, as well as to evaluate any precious stones that the item has. The price is then worked out by taking into account the current market price for gold and the precious stones. They will also deduct a small commission charge from the money offered, leaving you with just below the scrap value for your gold jewellery.

The Best Places to Sell your Gold Jewellery

In order to get the best possible price for your gold jewellery, you will want to find a private buyer. A private buyer will often pay higher than the scrap value as they are pleased with the aesthetic qualities of the jewellery. However, finding a private buyer can often take quite some time, even when using Auction websites to try and sell your gold jewellery. If you are not in a rush then, a private buyer is your best option, but if you are looking for quick cash, then there are a few options available for you.

  • Gold-Merchants
  • Jewellery Shops
  • Antique Shops
  • Pawn Shops

A Pawnshop is also an excellent way to get a quick loan. You can take your gold jewellery to a Pawn shop Goldbuyersmelbourne.com.au, your Pawn shop in Melbourne. The pawn shop will then value your gold jewellery and offer you a loan amount against it. You will then be able to get cash for your gold jewellery and be able to buy it back again for the price that was lent to you, plus a commission. Using a Pawn shop is an excellent way to get quick cash, and as long as you pay the pawn shop back, you do not have to lose your gold jewellery at all!

All of these types of dealers will usually buy and sell all types of gold jewellery. You will also usually find that they have trained appraiser’s onsite that will be able to determine what the value of your jewellery will be. When they have worked out the exact value and deducted their commission, they will then be able to give you cash your gold jewellery.

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