It is a question gold buyers get asked a lot. The short answer is there is no limit on the amount of gold you want to sell. However, responsible gold dealers must meet rules regarding secondhand legal responsibilities to provide the best customer service possible.
As a result, while no limits are in place, dealers cannot accept items believed to be stolen or illegally obtained. Instead, the dealers will report it to the police if needed. On the other hand, dealers must also ask for identification when buying gold from sellers.
What can I sell, and how can I determine what my gold is worth?
You can sell a wedding ring, an old coin, or a kilo bar of gold. First, check the purity of the gold you wish to trade. Whether selling scrap gold or jewellery, it is important to check the hallmarks of the item. The stamp denotes the purity of your metal and sorts it into karats. You find the stamp inside a ring or on the clasps of necklaces and bracelets.
Then sort your jewellery into the different karats. Of course, the higher the karat, the more you can get. Once done, you can weigh it on kitchen scales to determine the gold’s weight against the buyback price advertised on the gold buyers’ website.
If you have gems in your jewellery, weigh your gold and take a little weight off to guess what you will be paid. Once determining all these essential things choose a trustworthy gold dealer and pay them a visit at their shop.
What is the selling process when visiting a dealer?
Gold has a tangible value. So whether you have old jewellery, pieces of gold, or gold coins, you can feel assured you’ll get the best price when visiting local gold buyers. The selling process is simple and transparent.
When you visit gold buyers, the sales consultant will use an XRF analyser to access the gold to see the exact purity. The dealer will also weigh it using scales. Of course, the higher the karat of the precious metal, the more money you can get. Yet, most brokers only buy back the gold, excluding the gemstones and non-metal elements in your gold jewellery.
For example, suppose your gold has diamonds (or other stones included). In that case, the gold buyer will deduct the weight of the gemstone when weighing your gold. The dealer will then calculate your purity and weight against its current buyback price for gold.
You can then decline or accept the offer and walk out of the store with cash in hand or arrange to have it paid to your bank account, depending on the amount you receive. As you can see, there is no limit to selling your gold or other precious metals back to a gold dealer.
So, visit one today to sell your gold jewellery, scrap gold, gold bullion or other precious metals. You have nothing to lose and can only gain to receive fast cash in hand.
