liquid-fin gold coins

Four Golden Rules for Selling Gold Jewellery

So, I want to sell my gold and get the best price for it. Now what?

You don’t need to be a professional jeweller to sell valuable items made of gold and precious stones, such as gold jewellery and coins. That dusty old pile of family heirlooms could net you a decent amount of cash if you go about selling your gold in a savvy way. Sadly, many gold-for-cash retailers have developed a shady reputation for the industry, so it’s up to customers to do their research before deciding to sell gold jewellery for cash.  It really isn’t that complicated if you follow these four golden rules for selling your old gold jewellery.

Get to know your jewellery

If you’re looking for an accurate price for your gold, there’s no point in weighing a lump of it and hoping for the best. Each individual piece needs to be examined and appraised separately for its individual value. Check each piece carefully for weight and quality (heavy gold pieces indicate a high karat rating and therefore, a more valuable piece). Don’t forget to check for damage, scratching and missing stones, all of which could affect their final value.

liquid-fin gold jewellery

Image Credit: ianburton.com

Shop for Buyers

It’s a lazy habit to settle for the first buyer who makes you an offer. Don’t feel loyalty-bound to agree to the first gold buyer, rather shop around and get multiple opinions to make sure you’re being quoted fairly. It’s a great idea to get to know the guys doing the buying, and even speak to their past customers if you can. Don’t forget to visit their website and social media pages to check for complaints or bad reviews, which are a big red flag you should take note of.

Wait for the moment to strike

Like any investment, timing is crucial if you want to make the biggest profits. Like any other precious commodities and resources, gold and silver prices tend to fluctuate over time as their market value goes up and down. If you’ve got a substantial amount of gold to sell (maybe you’ve inherited a collection of coins or jewellery all at once, for example), it may be worth your while to wait until the gold price is particularly high before you sell.

Don’t try to DIY it

It’s pointless trying to appraise the value of gold by yourself. Piling all of your jewellery into a kitchen scale will not give you an accurate indication of how much any of it is worth, so make sure you leave this part of your transaction to the professionals. If you take your gold to be appraised and the appraiser slaps it all onto a scale like a lump of cheese, it’s definitely a wise idea to stop and look around for another buyer.


Main Image Credit: Pointjewels.co.za