If you are one of the fortunate people who have gold that you would like to sell for some cash. You should know the best possible way to get the best rates for your gold.
#1. Identify your gold items correctly
Australians love gold. They buy gold bars and gold coins to hedge against inflation. They keep their gold in safety deposit boxes, in vaults or they bury it in their backyards. If you own gold then you need to make sure your gold has purity ratings, serial numbers, and marks preferably from an LBMA-approved mint. Gold bullion bars have a purity rating or fineness of .999. You can find a lot of gold buyers in Melbourne who are eager to buy quality gold at the best price.
#2. Find the best buyers for your Items
Before you approach potential buyers, you should know what it is you have. That means being aware of the quality of your gold and the amount of gold you have. Finding a reputable gold buyer has become easier because of the internet as well as social media. A lot of people find selling gold online easy and more convenient than having to physically search for a brick-and-mortar store to sell your gold. There are advantages and disadvantages of selling your gold online. The obvious one is that when dealing with an online gold buyer, there is no face-to-face interaction. You can only trust whatever information you find about the buyer to be true based on what everyone else is saying about the buyer in reviews and on social media.
#3. Coin shops
If you have gold coins to sell, the fastest way to go about doing that is to sell the coins to a coin shop. Coin shops and gold dealers primarily deal with the purest form of gold coins that they can buy and sell for a good price. They will have specialists who can verify the purity, rarity ad price of your gold. Shop around for the best gold buyer and best price for your gold.
#4. Jewellery Stores
Jewellery stores will not buy gold bars, coins or ingots, they will only buy wearable gold. The quality of your gold jewellery is important to a jeweller who buys used pieces to buy and resell at higher prices. Luxury brand jewellery will command a higher price, and so will antique pieces when sold to the right buyer.
Pawnshops can be found virtually anywhere. They are known as the one place where you can sell your used gold or use the gold as collateral for a loan. Whilst they offer a quick service they don’t necessarily give out the best prices for gold jewellery. If you are serious about getting the best amount of money for your gold jewellery, a pawnshop should be your last resort.
#6. Cash-for-gold Buyers
You may have seen adverts for cash for gold buyers in Melbourne who want to buy your old, scrap gold. Because gold is recyclable, there are many scrap gold buyers who buy broken damaged gold that they sell to refineries to be melted and refined to produce other products.
So you see, owning gold in any form can be useful in times of economic turmoil. Gold is an incredibly liquid asset. You will find yourself spoiled for choice when it comes to who you can sell it to.