Who doesn’t love gold jewellery? This alluring yellow metal has long been used to make jewellery and over the years, you can accumulate quite a bit of gold jewellery. It might be that things are tight financially and you would like to sell the gold jewellery you no longer wear, which makes a lot of sense.
Know The Purity
Prior to doing anything, you need to check the purity of the gold; each piece should have a stamp to indicate the purity – 9k, 14k, 18k and 24k, which is pure (99.99%). Only in certain Asian countries do they make jewellery with 24k gold, which is too soft and malleable for jewellery; 18k is probably the most common, which means that gold makes up 18 of the 24 parts, the other 6 would be silver, nickel or copper.
Selling Your Gold Jewellery
When looking to sell gold, always go to established gold dealers who could offer you the current spot price by weight. City Gold Bullion dealers sell gold Adelaide investors go for and they also would gladly buy your authentic gold. To find an established dealer near you who buys and sells gold in different forms and also accepts scrap gold jewellery, all you have to do is to search online using your favourite browser. Once on their website, make an appointment, take your gold to their office, and you will be paid in dollars. The gold is tested and weighed in your presence; should you be looking for a safe long-term investment, consider buying gold bullion now, before the rising trend gets going.
Review Your Jewellery Collection
This can be a tough one – deciding what to sell and what to keep. It is likely you will have gold of varying purities and you should separate pieces according to the symbol. It is important to understand that it is only the gold content you are being paid for, not the piece. If precious stones are involved, you should have these valued by a jeweller before selling any piece. Diamonds should come with certification and showing this to a jeweller would lead to an offer to buy the stones. Once the stones have been removed, you can sell the gold for scrap and receive the spot price at that time.
Avoid Online Transactions
There are some companies online that offer to buy gold. They send you a stamped address envelope with the promise to send the money upon receipt, which is often the last you hear from them. As a general rule, when selling gold, always go to an established gold bullion dealer, as this ensures you get the best price for your gold. That is not to say there aren’t reputable companies that offer a good service, but you are better off selling to a bullion dealer.
Gold is a good long-term investment. Unless you need the money, it might be a good idea to hold off on selling, as prices are likely to rise due to the current buying demand, which is increasing as we head into a global recession.