4 Tips on Selling Gold for Cash

If you’ve never done it before, selling gold for cash can be a confusing ordeal. You might be unsure of where to take your pieces and how to measure they’re worth. 

There are several reasons why people make the decision to sell gold and jewellery. Some people fall on hard times while others trade in old pieces of jewellery they no longer need.

Trading expensive and high-quality items requires a little bit of homework on your part because you want the best price and service in return. You don’t want to get ripped off by any suspicious or disreputable gold buyers.

Read on to discover four tips that will help make your gold for cash transaction a little easier and safer.

1. Sell in the City

Your best bet is to find a reputable gold buyer in Toronto rather than looking for one in less urban populations. Typically, there are more gold buyers in a city such as Toronto, which means their prices will be more competitive and offer you a higher price.

Smaller towns don’t have the competitive advantage that Toronto does, so taking your high-end jewellery collection into the city is worth it.

Once you get there, look for a company with an excellent reputation. Check out websites before visiting the buyers’ stores to read user reviews to get a sense of their service and expertise level. You want to ensure that their staff is licensed and experienced and that you’ll be treated with respect.

2. Know What You’re Selling

Someone may have given you that Rolex watch as a gift 15 years ago, and you still don’t know what it’s worth. Conduct some research before you start shopping around. For example, to learn more about your watch’s value, you’ll want its certificate of authenticity and reference number.

Rolex reference numbers are located on the certificates issued with the watch. And if you can’t find that, the reference number is also available on the watch itself, but you might have to remove the bracelet to get it.

Look online to see if you can find any pertinent information about your jewellery’s price and value, or take it to an expert to discover any essential details.

3. Know About the Current Value of Gold

To verify gold’s current market price, you can call a local jewellery store or visit an online stock market source. You should also know the weight of your items (in grams) before visiting a gold seller.

By understanding the value before entering the seller’s store, you’ll know if the offer is fair. You can find scales online or at speciality jewellery stores.

4. Find a Reputable Buyer

When you’ve decided you’re ready to sell your items, find a gold buyer that has an exceptional reputation. Look for a Canadian-owned company that has been in the industry for generations.

If you’re ready to sell your gold or jewellery, remember to do your homework first. When you find an experienced and respectable gold buyer, you’ll feel more confident about making the sale that’s right for you.

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