Times are hard and right now with the festive season upon us, you may find yourself in need of cash, just to get through it. If your finances are stretched and the future is uncertain as it has been for many in 2020, you might want to consider selling your gold for cash if you have any. And by gold, we don’t only mean gold bullion bars and coins. You might not have Krugerrands coins stashed somewhere in your house but you might have some old jewellery that you are not using. You can sell your old and damaged gold jewellery to raise that much needed cash. However, keep in mind that even though your gold jewellery isn’t exactly investment grade bullion, it is still made of the most precious metal on earth that happens to be in short supply, so it will always be worth something. There are a few key points you need to keep in mind when selling gold. If you follow these, you might get the best deal for that old, damaged scrap jewellery you didn’t know what to do with in the first place.

  1. Know the value of your gold jewellery
  • The first thing you need to do is to look at the hallmark on your jewellery. 
  • Separate the different pieces according to the hallmarks.
  • Weigh the gold 
  • Check the current spot price of gold

Get an evaluation from different gold buyers Brisbane. You might end up doing a lot of back and forth negotiations with gold buyers but that will be worth it if you end up getting the best price possible. 

  1. Find out if there is a best time to sell 

According to supply and demand rules, the price of any commodity will rise when the demand is higher than the supply. The same happens with gold. However, the price of gold is also affected by other factors like geopolitical tensions, inflation and a host of other factors. This is the reason this yellow metal is considered to be a safe bet in times of turmoil because it retains its value. Consider the economy before you sell.

  1. Negotiate

Do not accept the first offer that a gold buyer makes. You won’t know if you are getting the best deal if you don’t shop your gold around. Most Brisbane gold brokers are open to negotiating, so be prepared to haggle until you get a price you can be happy with.

  1. Remember that scrap gold buyers are only interested in the gold content

If you have jewellery encrusted with diamonds and other precious gems just keep in mind that scrap gold buyers are only interested in the gold. You might want to remove the precious stones if you believe that the gemstones have some significant worth. 

You can find scrap Brisbane gold brokers to sell your used jewellery virtually anywhere. They tend to grow in number during hard economic times which is why you should try to avoid fly-by-night businesses that are here and gone tomorrow. Find reputable buyers in your area who will give you a fair price for our scrap. Last but not least, leave your emotions at home and approach the process as a professional business transaction. If you do this, you are likely to get a decent amount for your scrap gold. 

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