Where does all the gold go?

There seems to a rush on gold these days with dealers galore advertising their need for more and more gold. Because of the amount of advertising out there, you have probably considered selling your gold jewellery and gems and once you have gone through the process of learning how to sell gold, get the price for it and have completed the transaction, you may have found yourself wondering where all those gold items and precious jewels go?

When jewellers buy your gold jewellery, they generally do one of two things with it. Most dealers sell all of the gold items they buy to a refinery and get about 90% of the market value of the gold in payment. If you have taken the time to learn how to sell gold jewellery, you may be wondering why the amount of money you were offered is nowhere near 90%. The simple reason for this is that the resellers deal with refineries, they are middlemen so to speak, which is something that as a member of the public, you would not be able to do. The lesson to take from this though, is that you should not accept the first offer you are given for your items.

So what happens when you progress to the next stage and start selling items with precious gems in them? Do you know how to sell gold jewellery with diamonds, and for that matter, do you know what happens to the gems? This process, of course, is a little different to that of gold, since gold can be melted down. Most jewellers will remove the stones from the setting and give them back to the owner, though this does carry a price. The more reputable resellers will explain the process to you beforehand, and if the gems are too small to be worth anything or are damaged, they will tell you so that you can decide whether you want them extracted or not. Some resellers buy stones as well as the metal parts of rings, bracelets and brooches, and these are cleaned and used in new pieces made by goldsmiths and jewellers.

Remember when you have jewellery to sell to have it weighed properly. Many resellers will try to fool you into thinking that a piece’s weight is mostly made up of the stone and will try to give you a lower price for the gold. Most experienced jewellers and resellers can tell the weight of a stone on sight and will be able to give you the best possible price for the gold. Speak to the experts at Liquid Fin about how you can make the most of the gold and diamond jewellery you have to sell.