5 Handy Tips When You Sell Gold

Gold is one of mankind’s most valuable and treasured items. For over 6,000 years, gold has been the backbone of our wealth and financial system. Unlike money, the price of gold rises during times of panic such as disaster or financial crisis. Also, gold grew during the most severe recession periods in the world. So, those who invest in gold will only gain profit. Since it is a rare metal, there can never be an oversupply in the market. If you reside in Australia, you can be sure of the investment since it is one of the safest and most stable countries in the world.

 Before you sell gold in Sydney, here are a few handy tips that will help you get the best value for your gold. 

  1. Learn the scales

The weight of gold determines its value, but jewellers use a different measurement standard called a Troy ounce. Some jewellers might use a system of weights called pennyweight to measure a Troy ounce, while others will use grams. 1 pennyweight is equal to 1.555 grams. Beware of the scale. If your dealer weighs your gold by pennyweight but pays you by the gram, report him

  1. Know Your Karats

A 24 karat pure gold is too soft to be used; therefore, it is combined with other metals to create durability and colour. One karat = 1/24 of pure gold by weight. So, 14 karats mean that the jewellery is 14 parts gold and 10 parts other metals. If the jewellery is less than 10 karats, it’s illegal to be labelled as gold. Also, keep your karats separate. Some dealers will weigh all your jewellery together and pay you for the lowest karat value. Separate your jewellery by karats before selling it.

  1. Know the Current Market Price

Search online to verify the current market price for gold before you sell. Dealers know that you are looking for quick cash to put in their pockets. So, they might offer you money for your gold that is lower than the actual value.

  1. Know Your Buyer

Search for the basic information of your buyer, their reviews, and ratings. This will help you make the right decision.

  1. Know Your Selling Items

Some gold items may be worth more than you’ve calculated. If your gold necklace or bracelet is manufactured by a well-known designer or maker, it cost much more than the actual value.

 Sell Gold Sydney Australia is one of the most trusted buyers in the city. Sell gold jewellery in Sydney and get the best value for your gold.

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