Do you have old gold jewellery you want to sell? Whether damaged or broken, you can get fast cash for scrap gold. Still, never send your precious metal through the mail, thinking it is a convenient process, as it can get lost in the mail. Therefore, should you sell online or to Melbourne pawnbrokers?
Selling Scrap Gold to a Jeweller or Online
Yes, for whatever reason, you have to sell your old gold jewellery to make space in your jewellery box or need fast cash. You can sell it online in places like Craigslist, Gumtree or eBay and more. You can list the jewellery you want to sell on the platform. Once people notice your ad on the site and are interested, they will buy your items.
Still, the process can run into days, weeks and months, and it takes loads of patience to sell your gold through these platforms. On the other hand, you can choose to visit a jeweller to buy your old gold pieces. Nevertheless, the likeliness of them buying your broken jewellery for scrap gold will not happen.
It will cost the jeweller more to have it repaired and selling them to potential customer’s results in a loss and they do not make a profit. So, what should you do? You visit a local pawnbroker.
Get Instant Cash for Gold from a Pawnshop
Pawnbrokers buy gold in any form, be it damaged, old, or broken, so you do not have to worry about the condition of your precious metals. Moreover, you can sell scrap gold to a pawnbroker, and besides, it is an easy transaction.
Still, when selling your used gold jewellery, do not expect to get the current precious metal market price. Instead, the price will be lower, depending on the condition and karat of your gold items. Note: Karat is the unit measurement for gold in an alloy. For example, 18-karat gold is 75% gold and 24 karat is pure gold.
What Gold Price Can You Expect
So, what buyback price can you expect for your used gold jewellery selling it to a pawn shop. The pawnbroker will price your precious metal based on the condition, weight and the gold market price for the day. Furthermore, they will consider the karat and weight of the gold and at the same time try to make a profit out of selling the items.
Wrapping it Up
Before you decide to sell your scrap gold to Melbourne pawnbrokers, it is essential to know it’s worth.
You may have gold jewellery, and best to weigh it first and check the current gold market price. Doing this helps you know how much gold in weight you have and what price to expect based on the current market price.
Once you know the worth of the gold pieces per weight and market price. You can expect to receive 80% to 90% of the value. Still, it depends on the purity of the gold and the condition when selling it.