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Gold: Where To Sell It? Useful Tips For Selling

Posted on November 19, 2022 by Timothy Bell

If you have a little gold available, even just a few jewels that belonged to relatives, thinking of selling it is one of the many possibilities available.

Thanks to the presence of more and more shops and metal banks specializing in the purchase of gold, selling your products is quick and easy. However, we must try to pay attention to some precautions to avoid scams in the context of the sale of gold.

The first thing to do before selling gold is to find out about market prices. Keep in mind that they refer to the hypothesis of 24-carat gold (pure gold) while that of jewelry is 18 carat and therefore it is worth about 35% less, without counting the precious stones that may be included and which would have to be evaluated separately.

Where to sell the gold? Advice for sale

If you are wondering where to sell gold, the answer is: from the jeweler who sold the products, at the metal counter or in one of the shops set up for the purchase of used gold.

If you have a particularly important or expensive jewel and you know the jeweler sold it to you, you can try to propose the purchase again: he might be interested.

Alternatively, in Italy today dozens and dozens of gold buyers can satisfy your needs… but be careful.

Don’t stop at the first gold shop on your doorstep; try to take a tour of the various activities in the area and bookmark their offerings.

Don’t be told only by the price per gram, you must know what is the net (that is to say what you are entitled to without counting any taxes) of the total products.

Everyone is looking for a place to sell gold at the best price. But know that if the price for used gold is 20 euros, no one will buy it for 30 euros per gram. Advertising that says otherwise is certainly misleading; it probably refers to the cost per gram of pure gold with particular characteristics. Do not be under any illusions: the prices are the same, and it is useless to travel hours to reach a gold shop that promises prices absolutely out of the market. Try to go to the metal counters, where you can sell your jewels and your gold in complete transparency.

Pay attention to transparency

When you go to a gold buyer, don’t assume they are a professional. Of course, most traders are absolutely honest people who don’t want to cheat. However, some are dishonest and could buy gold at a price below its value.

When you go to someone who buys used gold, the procedure is quite simple: you should be asked for an identity document, then you use an ad hoc cleaner to evaluate if the gold is pure, weigh it and consequently estimate the value per gram, multiplying it by the weight.

You leave home after weighing the gold. It is not necessary to have an extremely precise scale, it is sufficient that you have an idea of ​​the weight of the gold so that you can eventually notice important discrepancies in the shop, at the time of weighing.

Secondly, be sure of how the weighing of gold happens: you need to be able to keep an eye on the whole procedure and it is a good idea for the buyer to show you the numbers on the scale as well. These small tricks will allow you to go to those who buy gold in a calm and aware way of the value of the objects you carry with you. Remember that an honest gold buyer always asks for the identity document of the buyer when he intends to sell.

In addition, the meter is recorded in the purchase register which must be present for any police checks. The document in question contains the description of the object, the weight, and the details of the identity document.

You can also have a receipt issued, remember never to accept cash payments beyond the limit established by law.

In summary: how to choose who buys gold in maximum security? By going to a metal bank you can rest assured and sell your jewels without problems and worries.

Disclosure: This is an independent review site. Nevertheless the owners of this website may earn commissions by referring visitors to various investment opportunities in order to meet the running costs of this website. The content on this website does not constitute financial advice. You are encouraged to talk to your financial advisor before making any investment decision.

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