We are often asked about selling gold jewellery and is selling gold for cash worth it?
In this blog, we give you a little background knowledge and also our top 6 tips for selling your gold.
Gold is a wonderful precious metal and, there may be reasons people choose selling of gold jewellery in return for cash, such as – broken items not worth repairing; jewellery inherited but not liked; unfashionable jewellery to purchase something new and fashionable or alternatively if there may be an urgent requirement for cash. Whatever the reason, selling gold for cash is an important decision and not one to be rushed (even at times of urgent requirement for cash, doing some homework could make a very big difference!) as it is vital you get the best, fair price for your Gold! See below for our top 6 tips on selling your Gold for cash.
There are a few places where you can sell your Gold such as jewellery shops, pawnbrokers or online cash for gold sites but do some research and shop around to a minimum of three quotes to find the right price for your Gold. Make sure you are selling your Gold to a reputable source with a good reputation. At R.A.Braithwaite Jewellers York, we have been established since 1946 and have been buying and selling gold with our expert experience for over 75 years!
The two things which determine the selling gold price per carat is the purity of the Gold and also the market as the spot price of Gold changes twice a day. Gold goes through peaks and troughs according to market dynamics so make sure you are selling your Gold when there is a good selling gold price uk. (Gold has increased by more than double in the last 7 years but also note, the price can go up or down!) The prices quoted on many cash for Gold websites or in shops are the scrap prices which means the gold you sell will be melted down and the Gold will be recycled Gold. (Note – Gemstones are usually discounted from the weight of the gold – some sites may offer a price for the gemstones (depending on what they are) however this differs from retailer to retailer).
We make selling gold online easy by offering our FREE, LIVE calculator which is easy to use and in 4 steps, tells you how much* your Gold is worth with the current gold price per gram we are offering. We don’t ask for any email address or information from you for a quote – just type in the number of grams you have per metal type and purity and the calculator tells you how much we would pay for it! We pay directly into your bank account within 48 hours of your agreement to sell your Gold. Why not try our FREE, LIVE selling gold calculator here?
Top 6 pieces of advice for selling your Gold –
- Reputable – Make sure whoever you sell your Gold to is reputable! We have been in business since 1946 and have been buying Gold for many years however, some shops or sites may or may not give you a fair price so make sure you are confident in where you are selling your gold
- Investigate – Do your homework and shop around. There are many places to sell Gold – we advise a minimum of 3 different quotes to ensure the best deal for your Gold. It is also vital to make sure you understand any administration fees or commission fees (we have no fees associated with selling your gold and we keep the process as 4 simple steps online! – We also send you a pre paid envelope to forward your gold to us securely).
- Carats – Make sure your Gold is separated and paid by purity. The current standards of Gold are 9ct, 14ct, 18ct or 22ct or even 99.9% Gold and the different types of Gold (and other precious metal) have a large effect on the price paid in pounds per gram. Make sure your Gold is split, weighed and totalled correctly. While this is not essential, it will give you an indication of the amount you will receive.
- Resale or recycle – Know if your jewellery has any resale value. Pieces of jewellery containing gemstones may attract a higher price if a jeweller is looking to sell it on as second hand/pre-owned vs simply sending it on to be recycled. For example – single earrings or broken Gold thin chains are just recycled.
- Terms and Conditions – Make sure you know any postage rules, administration fees, commission fees and the full terms and conditions if selling your gold online. At R.A.Braithwaite Jewellers in York, we offer a free pre-paid postage envelope to send us your Gold and (although we hope this is not the case), a no quibble returns policy if you are not happy with the final value offered.
- The right time – The price of Gold will fluctuate twice a day (not by a great deal except in times of economic uncertainty) with the stock market and does go through peaks and troughs so make sure you are selling your Gold when there is a good selling gold price uk.
In summary, only sell your Gold if you are happy to do so and if you are confident with the place you are selling it! A sentimental piece of jewellery may not be worth selling gold for cash so make sure you definitely want to sell the items before you commit. Once an agreement has been reached, it is likely that the Gold will be sent straight to the refiners to mitigate any potential movement in the price of Gold.