Gold has long been the very foundation of wealth, and because of this, gold can easily be liquidated into cash wherever you live in the world. Should you ever find yourself in a situation wherein you are in need of extra cash, one of the quickest way to obtain it is through selling the gold you have in your possession.
We all have some old gold jewellery that we no longer wear, indeed, some items are merely taking up space in our jewellery box, and if you would like to turn these items into dollars, it is not difficult to find a buyer. Your old jewellery can be sold to a gold bullion dealer, who would offer a better price than a pawnbroker or a jewellery shop.
Gold Bullion Dealers
When looking to sell gold jewellery to Adelaide shops like City Gold Bullion, their experts are ready to assist you. Rest assured that you will be able to get the best spot price for your gold. Old jewellery would be classed as scrap gold, meaning that the items would be melted down and recast into an ingot, and the gold dealer will happily check the purity and weight to offer you a price.
Avoid Pawnbrokers And Jewellery Shops
The reason for this is they will not offer you the same price as a gold bullion dealer, after all, they want to make something out of the transaction. By going to a bullion dealer, you are cutting out the middleman, so to speak. Finding a registered gold bullion dealer is not difficult if you start with an online search, and when you find out where their offices are located, you can pay them a visit, taking your gold with you, of course.
Know Your Gold
Gold comes in many formats, and indeed in different levels of purity. Most jewellery would either be 9, 14, or 18k, while Asian jewellery will be 24k gold, which is very soft. Obviously, the purer the gold, the more it is worth, so you should check for the hallmark, which will tell you the k value of the gold. Regarding purity, the gold bullion dealer would determine that in your presence, then he would weigh the gold and offer you the spot price there and then. You can search on Google for articles on the fineness of precious metals, particular ones that detail the process for valuing different purities of gold.
If you have a trusted gold dealer that you found online, then you can visit their offices whenever you wish to sell some of your gold, which is the best way to go about the sale. Avoid individuals and also the “mail-in” gold dealers, who will offer a higher price than the current spot price to attract you, and they will send you a prepaid envelope, requesting that you send them the gold, after which they will pay into your bank a/c. While there might be some bona fide companies that do business this way, many will not pay you as much as the agreed price, citing some reason, and there’s little you can do but accept their offer, as you are no longer in possession of the gold.