Selling gold jewellery has become easier these days. There are plenty options that are available even for that old, damaged or broken jewellery. Gold is one of those commodities that will hold its value regardless of the condition it is in. This is mainly because gold is recyclable and that old broken gold jewellery lying at the bottom of some drawer is worth a considerable amount of gold.
Gold has some impressive qualities. It does not rust. There is no acid that can dissolve this precious metal and all the gold that has ever been mined still exists mainly because it keeps being recycled. The damaged gold that you have could have been a roman coin, teeth filling etc. until it was melted, refined and remade into something new.
You can take your damaged, dirty and tangled jewellery to a number of gold buyers Geelong who are only interested in the gold content itself, not the condition of the gold product. If you are looking for a place to sell your gold jewellery for quick cash, there are several options to explore. Each of them has their own advantages and disadvantages, what you end up choosing depends on your situation.
- Scrap gold buyers
You can sell your gold jewellery for its scrap value at any gold buyer. Scrap gold buyers will only pay the value of the gold content. The jewellery piece will likely be sold to a refinery to be melted down and refined into bullion products. You can expect to get 70-80 percent of the melt value. You can find local gold buyers Geelong to sell to or you can go online.
Pawnshops have been offering people a chance to sell their old valuables for centuries. Most pawnshops may not relish the idea of buying broken jewellery. The business model of pawnshops is to buy valuables at low prices and to resell for a profit. If you have broken jewellery, no one will want to buy it, however Pawnshops have evolved and now they buy old and broken gold jewellery to sell to refineries for a profit just like scrap gold buyers would. Pawnshops offer convenience and quick cash when you need it, besides you can find a pawn shop virtually anywhere. The problem with pawn shops is that they offer less money than your typical gold buyer.
Here are some helpful hints to help you get the most for your broken gold jewellery:
- Know what the gold item is worth. Since it is broken or damaged, it will have no aesthetic appeal. The only things that matter are the karats and the weight.
- Be patient and take as much time as you need. If you rush the sale, you could end up getting less money for your gold.
- Get as many offers as you can from multiple buyers and choose the best offer.
The bottom line is that when you have gold jewellery to sell, doing your homework is important. Take the time to consider the different options available to you. Do not take the first offer, shop your gold around until you find a buyer who will offer you the best price.