The Mistakes You Should Not Make When Selling Gold

Life is uncertain; you never know when you are going to find yourself in need of money. Even when we do have some money, it might not be available at the exact time that we need it. It could be tied up in investments and not be available for immediate use. This and other reasons are why people are always looking for more ways to make money or find alternative avenues of making money quickly. The gold price fluctuates a lot. The industry of buying and selling gold will always remain. Anyone can move gold but the important thing is to know the real value of what you have whether it is jewellery, coins, and bars. It is important for anyone looking to sell  to have a strategy when selling. As you work on your strategy these are the mistakes you shold avoid at all costs:


Don’t be too quick to sell


You might be in hurry to get cash but try not to make hasty decisions, especially about who you decide to sell your gold to like the many pawnbrokers Brisbane. If you have gold, try to split your holdings into gold products that are easy to liquidate like gold jewellery or gold coins from those that are hard to liquidate. To get the best price, you need to be prepared to take your gold to a variety of dealers.


Don’t make assumptions   


Gold products usually contain other metal alloys. Gold jewellery is usually made from gold that has been mixed with other alloys. Do not assume that just because it is gold, it is pure, however these polluting metal alloys can be extracted from gold to produce a much purer form of gold.


Make sure you trust the companies you are dealing with


Not all refineries are the same. They may have their prices or payouts published on their sites but this could change as the market price of gold fluctuates. Refineries may not be forthcoming with information on the processes your gold will go through to be refined. It does not hurt to ask how these processes affect the price that refineries charge. A refinery or gold buyer who is open about their business and the processes can inspire trust – they are just in it to fleece their customers and are serious about being fair and maintaining a good reputation.




Pawnbrokers Brisbane like gold jewellery, especially if it is in good condition. However, pawnbrokers and cash-for-gold buyers that accept all kinds of gold products regardless of condition are interested in the gold content. They may not be looking to sell this jewellery in their stores but they make money off such pieces by selling them to refineries. Pawnshops aren’t exactly famous for giving high prices on gold jewellery this is mostly because pawn shops are more interested in valuable items they can sell for a good price in their stores.

Regardless of its condition, gold will at some point end up at a refinery. You might think that you are in a better position by going over the “middle man” and taking your gold directly to a refinery but refineries usually deal with bulk processes and unless you have a sizeable amount of gold to refine, the best thing to do is to deal with the usual cash–for-gold buyers and pawnbrokers Brisbane.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top