When selling gold, there are a lot of factors to take into account, such as where to sell it, the amount received for it and more.
Your gold selling value depends on many variables, including its karat value and location of sale. As a general guideline gold buyers Sydney, aim for 90 to 95% of its spot price when selling coins or bars and 70-80% of the melt value when selling jewellery.
How much is my gold worth?
If you are thinking about selling your gold, it is advisable to research its true worth beforehand. This will enable you to assess whether you are getting an honest price from buyers who may try and take advantage of you.
At first, it is necessary to determine the value of your gold buyers Melbourne in terms of its weight. This can be accomplished using either a jeweller’s scale or food scale at home if that suits you better.
After purchasing gold, use its cost per gram to determine how much it’s worth. Simply divide its cost per gram by 24 and multiply that figure with its weight in grams.
You will then know how much cash payment would be received for your gold piece compared to its current market price, so that you can determine its true worth.
How do I know how much my gold is worth?
Answering this question depends on a range of factors, including its weight, purity and value in the current market. In order to sell it for cash, you should first gain an accurate idea of its true worth.
Start by checking how many karats your jewellery contains; it’s marking or stamp should indicate this information, such as “14k” or “12k.”
As soon as you know the karat age of your item, a gold price calculator online can assist in estimating its purity and value.
This value doesn’t represent what you will ultimately be paid, but serves as an introductory point in negotiations with buyers. Most gold buyers typically buy scrap gold at about 60% to 80% of its current market value – however you may be able to negotiate more favourable terms and haggle for a better deal!
How do I sell my gold?
Gold has long been one of the premier investments. This precious metal can take the form of jewellery, coins or gold bullion (bars or ingots).
If you own gold, there are various methods available to you for selling it for cash. Some options may include selling it to a pawn shop locally or selling online or even to jewellers.
Gold sales are most often done to generate some additional funds – be it for emergency situations or paying off debts.
Your reasons for selling may range from wanting a little extra cash, or treating yourself to something special – no matter the motivation behind selling gold it’s essential that you conduct thorough research before selecting an ideal buyer.
Reputable gold buyers will provide you with maximum return for your gold. Before trusting any buyer with your precious metals, check their reputation and years of experience first.
Where can I sell my gold?
If you own gold jewellery, coins or bullion and want to sell them quickly and for the highest possible price, contacting a company that specializes in these types of products could be the way to do it. Such businesses tend to give fair prices and provide prompt payment.
Before approaching a pawn shop or online buyer, it’s essential that you verify both the karat and weight of your gold. To do this, inspect its purity markings and weigh it on an electronic scale.
Bring your gold jewellery into any jewellery store or pawn shop near you and they will gladly weigh it for free.
Conclusion
Items worn for long periods or that are rare and unique should always be sold to a reputable gold buyer, whether locally or online. An established online buyer will offer fair pricing while guaranteeing safe shipment of your item.
