Do you need to make some extra cash to pay your bills, go on a much-needed vacation, or just for the satisfaction of having extra money in your pocket? These days it isn’t so easy to make extra money on the side. The recession has made it difficult for many individuals to find a full-time job, let alone a second one that could provide the extra money that’s needed in life. There is one solution though. If you have gold jewellery that you never wear, you may be able to sell it to help your financial situation.

The demand for gold has reached an all-time high in recent years and cash for gold advertisements are strewn across television and Internet platforms. However, before you commit to a particular service, there is bound to be some information you want to know. So, what frequently asked questions have been answered about selling your gold jewellery to gold buyers for cash?

1. How will I know the value of my gold jewellery? 

There are price lists that are kept up to date on a 24-hour basis readily available on the organization’s website. For a more specific price, you can simply call the company and ask for a quote over the phone, provided you know the weight and carat of your jewellery. Alternatively, visit a local jeweller who will check it for you and refer you to the local gold buyers. The pricing on most gold buyers’ websites is based on the carat, weight and melt value of your gold.

2. What methods are used for testing the purity? 

When you bring your gold items to your local gold buyers, they will look initially for the manufacturer’s stamp. That will indicate the carat of the material. After this, commonly the gold is XRF’d to confirm the purity and sometimes acid scratch tests are used.

3. The gold buyers are too far. Can I send my jewellery to the gold company for the cash? 

In many cases, once you’ve contacted your chosen gold buyers they can offer you a mail-in service. The gold buyers will test your gold once is arrives and deposit the cash into your nominated bank account. It is recommended though to visit in person to get a better deal.

4. What kind of jewellery and gold do they accept? 

So long as there is gold present the gold buyers will purchase it. It’s also advised you remove any gemstones or semi-precious stones from the jewellery prior to sending it, as most companies do not pay for them.

5. Should I expect to receive the same amount of money as I paid for my jewellery?

In general, the answer is no. Jewellery retailers increase the price of jewellery up to 300% over its intrinsic melt value. This is to cover the jewellers, rent, insurance and wages. Cash for gold services operates on the purity or melt value of the jewellery.

Conclusion

The gold buyers are a part of Australian history and have been around for hundreds of years. So, when you are ready to sell your unwanted jewellery items jump into google do a little research and find your local gold buyers to get a better deal today!