Where can I sell my Gold Jewellery?

This article seeks to answer the question: "where can I sell my gold jewellery?" and looks at the advantages and disadvantages associated with each option. Specifically, the article will focus on:

Where can I sell my Gold Jewellery? - Selling options pro's and con's

• The Pawn Broker
• The Jewellery Store
• The Online Gold Buyer

What factors should I take into consideration when selling my Gold Jewellery?

• Fluctuations in the price per gold ounce
• The purity of your gold
• The weight of your gold

There are three main options when asking the question "where can I sell my gold jewellery?" all of which have advantages and disadvantages.

The Pawn Shop
A pawn broker will offer you a loan using the gold jewellery you give them as collateral. You may be able to purchase your gold back within a contractual time period. Pawn brokers may also offer to purchase your gold outright and generally pay cash for your gold jewellery.

Advantage: Quick way of getting cash
Disadvantage: Very low rates paid for gold jewellery

The Jewellery Store
A jewellery store will purchase your jewellery with an intention to either resell the item or to sell it to smelt the gold and create new jewellery from it. A jewellery store will sometimes pay cash for your jewellery.

Disadvantage: May not offer the best rates for gold

The Online Gold Buyer
Online gold buyers specialise in buying gold because of this they have developed processes which allow them to keep their overheads low, e.g. they have no shop rent.

Advantage: They offer the best rates for gold
Advantage: Very simple and quick process

What factors should I take into consideration when selling old gold jewellery?

Fluctuations in the price per gold ounce
The price of gold fluctuates in line with supply and demand on the open market. Gold prices have been at their highest ever in 2009, but it is difficult to predict whether they will go higher or lower. Grants of Cornwall pay a fantastic rate for your unwanted gold.

How many carats is the gold?
The term 'carat' is used to specify how much gold is in the jewellery. Because gold is such an expensive metal it is often mixed with other metals to form an alloy which is then used to make the jewellery. The higher the carat of the jewellery the more gold there is in the metal. 24 carats means that the metal is pure gold and metals with lower ratings have proportionally less gold in them. Gold comes in 10 main categories of carat: 24 carat, 22 carat, 20 carat, 18 carat, 15 carat , 14 carat, 10 carat, 9 carat, 8 carat, 1 carat. Grants of Cornwall will test your gold and give you an accurate measurement of the carat of the gold.

How much does the gold weigh?
Gold is weighed in 'Troy' ounces - a unit of measurement used to weigh precious metals that is equal to approximately 1.097 standard ounces or 31.103 grams. The weight and purity of the gold is used to formulate the value of the gold jewellery, and heavier items of a higher purity will be worth more than smaller items.

To conclude, this article finds that in response to the question "where can I sell my gold jewellery?", the best option is the use an online gold buyer.

Here at Grants of Cornwall, we offer you top cash for your gold. Call us free on 0800 612 2304 for more information.

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