How To Profitably Sell Gold Jewellery

So you wish to sell some of your gold? Luckily, there are numerous companies and outlets out there, even online, that would be more than glad to pay you for that old jewellery. However be very careful when doing it. You require to be extremely market savvy and alert whenever you try to sell! Yes, it is possible to receive plenty of good cash for your gold, but it requires that you go in with both your eyes wide open.

How Can I Do It?

When dealing with online companies, first you request for their free pre-paid wrapper or envelope that you will utilize in sending your gold to them. A majority of these company envelopes or wrappers come pre-insured in the event of loss or theft during transit. You may opt to secure extra insurance should your gold amount be worth more their cover or alternatively just split it into a number of smaller pre-insured packs.

Most of these online gold companies will subsequently email or call you with their valuation, which you either could reject or accept. Some others will simply automatically dispatch to you a cheque worth what they valued the gold. You should return this cheque within a specified time normally ranging from 10 to 12 days if not pleased with their appraisal. Ensure that you verify their policy on returns prior to selling or sending your gold to them, because policies do vary.

Are These Companies Trustworthy?

A number of these companies have been trading for years and as such you may be confident that being established jewellers they are bound to be trustworthy when dealing with you. However, it is possible to have a handful of companies out for that quick profit and unsurprisingly; such are unlikely to give much heed to fairness. Neither are they concerned with their company's reputation or customer service. They are just out for a quick buck and then run.

It therefore pays to make use of your common sense as you sell gold. Do they have positive media coverage and dependable testimonials? For how long have they engaged in the business? Do a Google search on them and check various online forums and chat rooms to see what about them turns up.

The Jewellers Association of Australia Limited (JAA) came into being to represent and protect the combined interests of jewellery consumers and the jewellery industry. The JAA website contains a full list of all members. This website also has information that could assist you in selecting a jeweller and other such useful information.

Are They Offering You a Decent Option?

If your gold jewellery is still in fair condition, it is worthy to get assessments from several local jewellers. This is because they are likely to take into consideration the craftsmanship that went into the jewellery itself and not merely the amount of gold contained. You then could contrast the quotes from the jewellers with the online listed gold prices, which had not taken the jewellery retail value into account

Be particularly cautious of online companies which are not revealing their gold price list. It pays to compare the prices and if they are displaying their prices lists, probably they are not even worth your effort and time. The members of the Jewellers Association of Australia Limited have nationally voluntarily adopted the Jewellery Industry Code of Conduct with the objective of putting in place principles for jewellery industry fair trading. The Code additionally aims to promote ethical competition among gold retailers.


As a metals valuer at Gold Dealers Company, Abraham will always give a fair assessment. He has acquired skills at appraising the craftsmanship that has gone into your jewellery. You can be sure of getting a fair deal at Gold Dealers Company

Tips On Do's And Don'ts As You Sell Gold

It is an excellent idea to sell some of your unwanted gold jewellery. The potential advantages are apparent, in that it becomes possible to get more room for newer items as you also receive cash for items which you actually no longer have need of.

However, this kind of gold exchange is not similar to your local jeweller transaction. This is different in a lot of ways and therefore, you ought to keep in mind that there are specific rules that govern it, and a number of do's and don'ts to remember so that you may obtain the best possible value for your items.

It is important that you be familiar with the Australian Consumer Law which prohibits deceptive or misleading information when trading. Additionally, the Law also bars the making of any false representations in relation to the supply of services and goods.

Do's When Selling Gold

- Foremost on the do's list is that you ought to remember that nearly any scrap gold could be sold. What this literally means is simply that you may sell anything ranging from gold necklaces and rings, to your gold teeth.

- A little research beforehand will aid you in determining what the dealer will agree to take and not take. Additionally, have an idea of the worth of your gold pieces in terms of karat value. For example, the US, the Federal Trade Commission has put in a place a requirement that all the jewelry that gets sold in that country describes the karat fineness of that particular alloy.

- It is perfectly okay to dispatch any items which you wish to sell via registered post or a courier service in case you don't wish to visit the gold store in person. Majority of gold resellers will gladly appraise your gold items and then either buy them, sell them for you, or have them posted back to you if no deal comes through.

- Finally, it is imperative that you do keep yourself informed. While it is possible that you might know nothing or very little concerning gold or even on how to sell gold, do carry out some research and this will certainly place you in an improved position to sell. Do check out and see what others are selling on auction sites, or inquire from family members and friends for input.

Don'ts When Selling Gold

The don'ts list could be long, although remembering only a number of key points could really assist you in getting better rates when selling your gold for cash.

- First of all, don't just send your gold articles to the very first buyer or reseller you find.

- Undertake your markets research and make sure that the buyer is reputable, trustworthy and has got the seller's best interests at the core of their business. Great companies do not necessarily need to engage in overt advertising in order to get your gold. Normally, they would have built their clientele base sorely on their business reputation as reliable gold dealers.

- Don't take your costume jewellery to the gold reseller. They will not be able to melt down costume jewellery for gold scrap and hence they will not purchase it.

- Finally, it does not pay to get overly emotional. You could lose on a great bargain. Patience pays in this industry.

In Australia, businesses buying gold are subject to the respective State and Territory trading law. In this regard companies that are buying gold are required to acquire an Australian Second Hand Dealers permit. You could visit the website of the Jewellers Association of Australia to verify if the buyer is listed there as a certified and licensed buyer.

3 Best Places To Sell Gold Jewellery For Maximum Gain

The business models adopted by most gold-buying companies are quite simple: they purchase the gold, have it melted down and then they flog it for profit. Therefore, when you are planning on selling any of your gold pieces, the initial thing to take into consideration is the variation between its actual retail price and its value after melting. The retail price of your gold is its cost were you to purchase it in an actual store. In all probability, you may just get offered a fraction of this price.

In an article titled "Selling gold: How much that old ring is worth now" for CNN Money, Jessica Dickler wrote in July 20, 2011 that whether you are selling gold to online buyers, at a neighbour's home gold party or to a jewelry store, it is important to bear in mind that what your gold jewelry could fetch will vary widely.

Today there are a number of options available if you are eager to sell gold.

1. Your Local Jewellers

The easiest choice is to just haul your gold pieces to a local jeweller in person. Even if it so happens that you don't wish to sell or are unable to actually sell, it could be an excellent method of getting your pieces valued. If necessary, go from door to door and bargain on the spot.

2. Postal Gold Websites

With this option, you receive an online quote; then you send in your gold for verification after which they make an offer to you. Regrettably, not all of the gold mongers possess a great reputation. In fact some of those who appear most convenient might also turn out to the least scrupulous. So before rushing off to sell that family heirloom, take some precautions by doing some background research. Australian law under the Banking Act of 1959 requires that all gold traders be registered. Confirm their registration credentials.

3. The Pawn Shops

In general, pawn shops have got a bad reputation being the last destination for desperate sellers. However, they could also form some of the best locations for selling your gold. However, an important consideration is the fact that the pawn shops are basically profit making businesses and they endeavor to give the seller as little cash as they can. If you appear to be in a big hurry or desperate, or simply take the first offer made, odds are that you may be getting a raw deal. The best way of maximizing your pawnshop deal is through a bit of research. Based on several comparative searches, it is possible to get some idea of what possibly you could expect.

Knowing the karat of your gold is vital before you start the selling. For example, in the US, the Federal Trade Commission has made it a requirement that all jewelry sold be described in terms of karat fineness. 14 karats means your jewelry is fourteen parts gold and ten parts other forms of metals, or around 58 per cent gold. The maximum Karat level is 24. Majority of jewelry will range from 10 to 18 karats. Karat values are the same throughout the global gold industry whether in Australia or in the US. Additionally, jewelry of different karats ought to be weighed separately. From time to time gold dealers may weigh all your jewelry pieces together and then award you the most lowly karat value, something you must avoid.

Collector Interest and Availability of Morgan Silver Dollars

The vast numbers of Morgan silver dollars along with their mint state beauty has served to make this series the single most collectible and popular coin among coin collectors. Their wide range of dates, mint marks, conditions and varieties give lots of possibilities to collectors with diverse interests and budgets.

Morgan silver dollars are often divided into four categories. They are: common date, semi-common date, semi-key date, and key date examples. The lower condition examples generally serve as silver bullion, or a place to start a coin collection. That's where I started collecting coins.

Once an appreciation of Morgans sets in, the beginning collector often takes the next step and starts looking for the least expensive, most common, BU coins. These are the most frequently traded and are the most liquid of the entire series.

There are millions of BU and circulated Morgan dollars available at affordable prices to the collector. If Morgans weren't so generally affordable, I suspect there would be a lot less interest in owning them.

Semi-common MS dates appeal to the more advanced collector. Their higher price makes them less affordable to more people, and their prices are slightly more volatile. They are better investments than common date and yet still fairly liquid.

Semi-key date BU examples are often added to collections when they are finally found at the right price. They are usually only sold to upgrade the collection. They are often held for the long term and trade less frequently.

Key date Morgans are actively sought by both collectors and investors alike. Once they are found, they're rarely sold. The best grades are usually sold at auction or private transactions. These coins are regarded as "keepers" by their owners and rarely come to market.

Surprisingly enough, some of the semi-key dates are among issues with well over a million coins originally struck. Their semi-key status comes from the number surviving in mint state condition. Therefore original mintage figures don't mean as much in determining rarity as the survivors.

The lack of government records regarding the great melts makes it even more difficult to determine potential date/mint mark rarity. As certified populations of Morgans reach the point where grading them doesn't significantly increase their value, more accurate estimates of rarity will evolve.

Fewer and fewer hoards are coming to market as the years pass, and will continue to be less frequent in the future. Several dates lost their rarity status in the 1960's and 70's when the government released their stash of silver dollars to the public. These dates include the 1903-O, 1898-O, 1904-O, and of course the many BU Carson City releases.

Determining surviving date numbers is an inexact science at best. We all know that resubmissions and slab crack outs skew the TPG population numbers. But for now, Third Party Grading population reports are all we have to rely on for the Morgan silver dollar census.

An actual estimate of coins available is separate from the rare coin market, which only measures the supply in relation to demand. The market gives a general indication of rarity, but not the actual census numbers.

As time goes by, and things in the silver dollar world settle out, there will be less activity that disrupts the population numbers. Rarity estimates will become more accurate, and another piece of the numismatic puzzle closer to being in place.