Where You Can Sell Your Old Gold for Cash

Be it your engagement ring from your ex-partner, a family heirloom or some older items that are just sitting there and accumulating dust – selling these old jewellery pieces can be an excellent way to get some extra cash. Nonetheless, it’s not that easy to work out how much your items are worth and what you could practically sell them for. Well, there are some options to look at when it comes to sell your gold.

1. Gold Buyers

Yes, gold buyers are among the options when you want to sell gold pieces. Remember that gold buyers are only interested in the gold so they won’t pay you for rest of the material – for instance, gemstones or the overall design of the jewellery piece that could potentially be valuable if left intact in its original form, which could especially be applicable when selling antique pieces. However, if you only have to sell gold and/ or you don’t care about other material, then gold buyers are a good option to look at, as they have a pretty quick and uncomplicated process in place. They will evaluate the price of your old gold pieces and provide you cash instantly. And if you decide to go with gold buyers, make sure you visit several buyers so that you get the best price, as the amount offered could differ greatly from one buyer to another.

2. Online Auctions

At online auctions, you can fetch quite a good price, close to its true market value for your old gold pieces – that’s because you sell directly to the end-user without paying any commissions or having to accommodate for retail mark-ups. So yes, online auctions facilitate quick selling in a shorter time period! But pawnbroker is best. 

3. Gold Jewelers

Many of the jewelers aren’t actually interested in purchasing second-hand items because it’s not as lucrative a market for them; however, some jewelers who have a second-hand dealer license do deal in the second-hand market and will either buy your old gold pieces with an intention to resell them or just withheld your items on consignment for a fee if and when they are sold. Another thing is jewelers may buy older or antique gold pieces, but the drawback is that they may only be interested in buying chosen items from your hands and will pay you up to 50% of what you may get at the auction. As these gold jewelers need to make a profit out of each sale, they won’t be able to offer you the same price that you could likely get if you sold directly to the end-user. Moreover, if they did take in the pieces on consignment, it could take a sometime before you’re actually able to sell the items and have some money in your pocket.