There is no sure prediction of how the prices will go when it comes to the gold market. However, for now, the precious metal is at a high. So, if you have gold pieces to sell for some holiday spending money, do not wait until the last minute.
Selling gold can be tricky if you want the best rate possible. Still, you want a simple marketing process and visiting a Brisbane pawnbroker is a great consideration. So, follow these simple tips to make your experience worthwhile.
Clean Up Your Gold Jewellery
If you have something nice such as an enagement ring. Before visiting a local pawn shop near you, clean up your gold jewellery to look as good as possible. Always use precious metal approved cleaners to make it shine and your diamond sparkle. Still, the money offered does not depend on whether it is clean but helps expedite the process to possibly get more.
Gold Purity Matters
When you sell gold to a pawnbroker, the purity of the metal can influence the price. So, if you have a 9K gold ring, you only have 37.5% gold, while a 14K ring is only 58.5% gold. However, when you look at your 18K gold, it is 75% pure gold.
So, the more refined the gold, the more valuable the metal is. We recommend separating your gold jewellery into purity by checking the hallmark on each piece. You can find the stamp inside the ring band or on the clasp of necklaces and bracelets.
Doing this also makes it easier for the pawnshop to determine the gold value to make you an offer based on the gold market price of the day.
Know The Weight
Another value that determines the offer price is the weight of the gold. So get out your kitchen scale in grams to weigh each item per the purity of the precious metal. Then, you can compare it with the pawnbroker’s weight with the weight available. Gold jewellery is evaluated in grams for reference purposes and usally the gram buy back rate is found on the pawnbrokers website..
Look at The Gold Market Value For The Day
As you know, gold prices fluctuate continually. So, before you visit Brisbane pawnbrokers near you, check the gold market for the given day. You can then compare it with the pawnshop offering you the going rate. Finally, you can calculate the gold trading price with 31.3 x weight x karat to see how much they buyback under market rates.
So, for example, if you have a 14 karat gold chain weighing four grams and the gold price is $1500 per ounce your sum would be: $1500/31.1 x .585
Hence, the pawnbrokers you get will be somewhat lower, enabling them to resell the gold jewellery and still make money. So, instead of selling jewellery using online marketplaces, visiting a pawnbroker is safer, secure, and you get cash in hand.
You can get competitive rates for gold watches, jewellery, and scrap gold. In addition, the pawnbroker will help appraise your gold pieces to make you the best offer.
