There are many reasons why people sell gold for refining, the obvious reason being to make money, but the underlying reasons people sell gold jewellery, among other gold items such as gold coins and gold bars, are not as simple as one would think. “Needing money” is no longer the driving reason for people to sell gold. With gold prices at all time highs, now is a great time to sell gold that you no longer want to gold buyers. Consider the following reasons for selling gold for refining purposes:
1. You have broken or damaged gold jewellery. Everyone has at least a few pieces of broken gold and old gold jewellery that has been collecting dust in an old gold jewellery box for years; items of broken gold are perfect to sell as scrap gold for refining. These items may be things like single gold earrings whose match has been lost, twisted or kinked gold chains, gold necklaces with broken clasps, gold watches that no longer tick, gold rings with gemstones that have fallen out, the list is endless. Unlikely to be repaired, and instead of continuing to collect dust, gold buyers will happily purchase this broken gold jewellery for refining – companies that buy gold do not care what condition your gold is in. Selling broken gold jewellery for its scrap gold value makes sense.
2. Your gold jewellery is old or out of style. Selling older or dated gold jewellery as second-hand jewellery can be tedious – chances are, potential buyers will not see the value in the items. It is a time-consuming and sometimes costly task to sell gold jewellery that has gone out of style. Fortunately, gold buying companies buy gold for refining purposes – these gold buyers do not care about the aesthetics or style of your old gold jewellery. Gold buyers are always happy to buy from you, and take no consideration for the style or condition of the jewellery. Gold buyers that buy gold for refining will not lower the gold price offered if the jewellery is old-fashioned or no longer attractive. The price offered remains the same irrespective of the gold jewellery’s condition.
3. Your gold jewellery holds bad memories for you. Gold jewellery makes a wonderful gift during good times; unfortunately, when the relationship and good times end you can be left with mementos that serve as bitter reminders of people that you would rather forget. Items such as engagement rings from ex-fiancés, gold necklaces from an ex-husband, ‘special’ Valentine’s Day gold earrings, gold anniversary gifts and birthday gifts of gold jewellery – these items are just sitting in a drawer for you to never wear again. Rather than collect dust, you can purchase something of value as a result of selling these items which have no further sentimental value.. Many people say they feel empowered after selling gold jewellery that’s connected with sad or unpleasant moments in their past. You can let go of a lingering memory while salvaging a piece of its value.
4. You understand the high gold price. The economy may not been doing well, but gold prices have more than tripled in the last 7 years. Historically, times of economic downturn see gold prices rise. Why? Gold is considered the most stable investment in uncertain times. With the economy stabilizing, now is a great time to sell gold that is no longer of any use to you, and take advantage of the record gold prices.
5. You want to sell your gold jewellery, but find it difficult and time consuming. While special consideration should be given to antique gold, designer gold, and one-of-a-kind custom gold jewellery, it’s not easy to sell gold jewellery for second-hand wear, as it may be tedious to find a buyer for such items. Selling gold to a gold buying company for gold refining provides the quickest return. However, for those wanting to sell gold jewellery for second-hand wear, here are some options:
- The first port of call is usually the jeweller from which the item was purchased, especially if the jewellery is still in fairly new condition. However, many jewellers will not buy back an item they have sold you because their profit margin would be exposed. In other words, rather than offer you a much lower price than you paid, they opt not to get involved with buy-backs.
- Online Auction – Websites such as Ebay are most suitable for well-known, designer-branded gold jewellery or items where buyers can externally verify what the regular retail price of the jewellery is.
- Live Auction – Auction houses such as Sotheby’s or Christies will catalogue special pieces to sell at live auction. As the seller, you may put a minimum reserve price on the items when selling gold at auction.
- Private Sale – Selling gold jewellery privately can be done in the same manner as, for example, selling a car privately.
- Pawnbrokers
6. You’re holding investment gold. Considering the soaring record-high gold prices, now is an excellent time to offload high-purity gold items previously obtained for investment. Gold coins such as gold Kruger Rands and gold Sovereigns, gold bullion, gold nuggets, and gold bars purchased in the past were worth a fraction of what their gold value is today, making this an ideal time to sell investment gold to make a profit.
7. You inherit unwanted or indivisible gold heirlooms. Estate gold jewellery and other gold estate items such as gold coins, gold nuggets and gold bullion are often inherited by individuals or groups that want to liquidate these assets to either make use of the inheritance or to divide their value amongst benefactors. The items in their tangible gold form are indivisible. By selling to a gold buying company, this problem is eliminated.
8. You have dental gold you can’t do anything with. Unless left for the tooth fairy, dental gold such as gold teeth and gold filled teeth are items which will certainly not be used again. However, their gold content is ideal for a gold buying company to refine. Gold buying companies will happily purchase dental gold.
9. You’d like some extra spending money. Gold is money – it is, in fact, the oldest form of money out there. Most people don’t realize just how much money their old gold jewellery can bring them. Whether it is used to pay bills, or taking a long-awaited holiday, a little extra spending money never hurts, especially if it is simply sitting in a drawer unused!
It is an excellent time to sell your gold scraps, bars, and gold jewellery items and turn your profit into cash.
I am realy enjoying this site and the information you have. you realy must enjoy what you do. When I sell my gold I will come see your company. Ron
I did my home work, and after getting 5 offers I sold to a company in Sydney called the GoldCompany, they were the highest price by 7% and they beat the kiosks in west field by 80%. Don’t take the offer till you get a price from them. Sue Chatswood
fantastic post as usual!