Whether you’ve inherited some old jewellery, have broken pieces lying around, or simply want to cash in on your gold investments, selling gold for cash can be a lucrative endeavour. However, getting the best price for your precious metal requires careful consideration and a bit of know-how. In this blog, we’ll guide you through the essential steps to ensure you get the most value when selling your gold.
- Know Your Gold
Before you sell your gold, understand what you have. Gold comes in different forms: jewellery, coins, bars, or scraps. It also comes in different purities, which are measured in karats (like 24K, 18K, 14K). The higher the karat, the more valuable the gold.
- Weigh Your Gold
The weight of your gold plays a significant role in determining its value. Use an accurate scale to weigh your items in grams or troy ounces. Keep in mind that a troy ounce is slightly heavier than a regular ounce, and gold prices are quoted per troy ounce.
- Check the Current Gold Price
Gold prices change daily. To get the best deal, find out the current market price. You can easily check this online or ask a local jeweller for the latest rates. Or come to us!
- Find a Trustworthy Buyer
Choosing the right place to sell your gold is key. Here are some options:
- Local Jewellery Stores: Many jewellery stores buy gold. Look for one with a good reputation and competitive rates.
- Gold Buyers and Pawnshops: These places specialise in buying gold. Do your research to find reputable and trustworthy ones. Some online services also offer mail-in options where you are unable to visit in person.
- Gold Refineries: If you have a lot of scrap gold, selling directly to a refinery might be a good option.
5. Understand How They Price Gold
Different buyers use different methods to decide what your gold is worth. Make sure you know how they’re calculating your gold’s value.
Selling your gold for cash can be a smart move, especially when you need some extra money. By following these simple steps, you can maximise your earnings and ensure you get the best price for your gold.
We ensure you are always in the best position to sell your gold and silver with our price advantage. Come into our office in the Sydney CBD and meet with one of our trained gold buyer specialists. We will be delighted to have a chat with you about the gold market and how you can use your old gold and silver to find a financial solution.