We’ve all seen those TV adverts encouraging us to boost our coffers by selling our unwanted gold, but if you’re not selling via your local jeweller and using a postal service instead, how do you know you’re selling to a trustworthy source who will give you the best available price?
Should we really be sending something so valuable away in the post to a company we’ve not had much dealings with? Here’s why you’re often better off selling your unwanted gold and broken gold jewellery to your local independent jeweller:
There’s no doubt about it, gold prices have gone through the roof, and in these unstable economic times, it has been seen as a safe investment. Even scrap gold is worth a bob or two, as it can be melted down and turned into bullion. This has meant, however, that a plethora of sites have popped up, who buy gold on the cheap and sell it on, and as many people, quite understandably, don’t know how much their gold is worth, these sites can, unfortunately, sometimes be unscrupulous and offer a price much lower than its actual worth.
One way of checking how much your unwanted gold is worth is to visit your local jewellery shop, as they will be able to advise on the carat (which indicates purity) and the weight, and your local jeweller should also be able to give you a benchmark price which you should be aiming for when selling your gold. More often than not, your local independent jeweller will also offer a much more competitive price for your unwanted gold jewellery than postal gold services.
The gold industry is unregulated, so when you sell to a website or via a postal service, you just don’t know who you’re dealing with – not so when using your local jewellery shop; not only will they give you a fair price for your scrap gold, but they’ll give you top service too. After all, your local jeweller is not just after your unwanted gold; they’ll also want your repeat business for any new pieces you may be looking to buy and your recommendations to friends and family too!
Furthermore, even if you sell your gold to a website or postal service that offers the option to reject their monetary offer and have your gold returned, it can sometimes be a struggle to get your gold back, or you could be charged postage for the return. As a worst case scenario, your gold could even have been melted down before you’ve had the chance to reject the offer! This would never be the case with your local independent jeweller, as you wouldn’t be asked to part with your gold in this way before they give you an offer for your unwanted jewellery.
It’s also worth bearing in mind that not all jewellery should be sold as scrap – scrap should be just that: unwanted trinkets, broken items of jewellery and odds and ends such as gold butterfly clips from earrings. Your local independent jeweller will be able to tell you whether your jewellery is scrap or more valuable than that; for example, fashion items such as branded jewellery are often worth more when sold on whole rather than melted down for bullion, and jewellery with gemstones included could be worth a lot more than a gold site tells you it’s worth. Your local jewellery shop will be able to offer a valuation on any piece of jewellery you’re thinking of selling.
As with most things in life, it’s always nicer and more reliable to be dealing with someone face to face; your local independent jeweller will be able to give you the best possible advice when it comes to selling your gold, and most likely the best price too!
