Selling gold is something many people do when they need extra cash or have jewellery they no longer use. But the process isn’t always simple. Without the right knowledge, sellers often lose money, fall for scams, or accept unfairly low offers.
This guide will walk you through how to sell gold the smart way—so you get the best value with confidence. You’ll learn how to assess your gold, find the right buyer, understand what affects your payout, and avoid common traps.
1. Know the Real Value of Your Gold
Check the Karat
Gold purity is measured in karats:
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24K = pure gold
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18K = 75% gold
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14K = 58.3% gold
Look for tiny stamps inside your jewellery—like “14K” or “18K”—to know what you have. If you see “925”, that’s silver, not gold.
Track the Spot Price
The value of gold changes daily. This market rate is called the spot price. If the market is up, you can earn more. Always check trusted sites like Kitco or financial news pages before selling.
Weigh It Correctly
Weight also impacts price. Use a digital scale at home first, then compare with the buyer’s scale. If their numbers are off, don’t be afraid to question it.
2. Where to Sell Your Gold
Not all buyers pay the same, so choosing the right one makes a big difference.
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Reputable Jewelers: Often give fair prices and may consider jewellery value, not just gold weight.
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Precious Metal Dealers: Specialists who usually follow market rates closely. Always check their license and reputation.
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Online Gold Buyers: Convenient, but proceed carefully. Compare offers, read reviews, and don’t settle for the first lowball offer.
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Pawn Shops: Quick cash, but usually the lowest payout. Only use if speed matters more than price.
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Watch Buyers: If selling a luxury gold watch (Rolex, Omega, Cartier), you might get more.
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