Do you have old gold Jewellery that you don’t have any more use for? You can sell your old gold Jewellery to a Melbourne pawn shop. What many people don’t know is that you can also sell broken gold jewellery to pawnshops.

There are a lot of companies that claim to pay top dollar for scrap gold. You can find them everywhere. They advertise their services in newspapers, stuff your mail box with pamphlets and leaflets and advertise anyway they can on the Internet. They make all sorts of promises that will make you second-guess your local pawnshops who have been offering the service for years. The truth is, these new companies that seem to spring from nowhere don’t always live up to their promises. They will take advantage of you if they can and not pay you what your gold is really worth.

When it comes to selling gold jewellery, always leave your options open. Never sell to the first company that makes you an offer. The scrap gold market is quite competitive and the chances of getting the best offer you can get from the first buyer you approach are slim. Pawnbrokers don’t just buy gold jewellery that is intact. Most people think only scrap gold dealers buy damaged gold jewellery but Pawnbrokers have been in the scrap gold buying business for a long time. When you do decide to get rid of your scrap gold, consider pawnshops as well as you go about getting your quotes.

Selling your scrap gold is a great way of getting cash from your gold. Gold, is gold – it has value in any form. There are different options that are available to you when you have old or scrap gold to sell.

Selling to jewellers

Some jewellers will buy old gold but they will not buy scrap gold. Jewellers deal with jewellery they can sell and they can’t sell jewellery if it’s broken.

Scrap gold buyers

It’s all in the name- the business of these gold buyers is to buy scrap hold. Most scrap buyers buy gold Jewellery but they will also buy tooth fillings and gold wires collected from electronic gadgets.

Use online sites

There are s couple of online sites that are popular with scrap gold sellers. The easiest and most common are Gumtree and eBay, however, you have to list your gold and hope that people take an interest in your ad. It could be days, weeks and even months before someone responds to your ad. If you are looking for quick cash you might want to try other ways. Taking your gold to a pawnshop guarantees you a quicker payout. You walk into a Melbourne pawn shop and a Pawnbroker will assess your gold, weigh it and give you a price for it. You can negotiate a couple of extra dollars to be added onto the price and walk out happy with cash in hand.

Selling your gold to a Pawnbrokers is easy. However, you should keep in mind that you will not get the market price for it. The amount you get will depend on the quality of gold you have which is measured in karats. The value is usually discretely inscribed on gold jewellery. If you cannot find it on yours, your pawnbroker can perform a test to verify what it is. The Pawnbroker will then weigh your gold. He can calculate how much pure gold you have and what it’s price would be based on the current spot price.

The Pawnbroker has to make a profit and will probably give you a percentage of what your gold is actually worth.

To know if you are getting a good deal or not, you should have some idea of what your gold is worth and what you should get. And that is why it is always a good idea to shop your scrap gold around, this way, you will get a better sense of a ball-park figure.