1. Gather your gold items: Collect all your gold items that you want to sell, like gold jewelry, coins, or bullion. Remember bullion dealers work with all kinds of precious metal, such as gold, silver, platinum or palladium. Even if you are unsure if your items are gold, its always worth getting a professionally opinion.
2. Clean and organize your gold: Clean your gold items thoroughly so that they are presentable for the buyers. You can use a soft-bristled brush and mild soap to clean your gold. Please note this isn’t an essential step, but detangling chains will enable the bullion dealers to be able to test your items more efficiently.
3. Decide on a selling venue: Decide on a venue to sell your gold. You can sell it to a jeweller, a coin dealer, or an online precious metals buyer. Remember that most reputable dealers will have a store presence and online reviews. Always do your research! Remember not to fall for misleading prices. If pricing is difficult to understand and is based on volume selling, more often than not, you won’t be selling your gold for the best price.
4. The first step towards actually selling your gold is to determine its value. You can do this by looking at the hallmarks on your jewellery. This will allow you to then be able to calculate a price on simple online gold calculator. Most bullion dealers will have a gold calculator on their site, or a gold form which will generate an instant price. In the UK the majority of jewellery is either 9ct, 14ct or 18ct as this is the most robust gold quality for making durable and hard wearing jewellery. 22ct gold is usually the first choice for Asian jewellery which has a deep yellow gold colour.
5. The next step is to weigh your gold to get the weight in grams. This can simply be done on home kitchen scales.
6. Enter the weights and carats of your items into an online bullion calculator. This will give you an instant price in accordance with the latest gold market prices.
7. Get multiple offers: It's a good idea to get multiple offers before selling your gold to make sure you're getting a fair price. You can compare prices from different dealers to make sure you're getting the best deal.
8. Choose a buyer: After you have received offers, you will need to choose the best option and go forward with the sale. Take into account factors such as payment methods, reviews, easy of their website and gold pack.
9. Verify authenticity and purity: It is important to verify the authenticity and purity of your gold. Most reputable dealers have a process for testing gold to ensure that it is genuine and of the stated purity. They will test and measure the weight, and may also use a carat x-ray machine to confirm the carat of your gold.
10. Package and ship your gold:, package your gold securely and ship it to the buyer. Keep track of the shipping tracking number, and be sure to insure your package. You can also simply request a pre-paid, fully insured gold selling pack from Hatton Garden Metals. This makes selling gold online easy and will provide you with peace of mind.
11. Get paid: After the buyer receives and inspects your gold, they will pay you the agreed-upon amount. Most buyers will pay by instant bank transfer or cash depending on the buyer's preference and the agreement you made.
It's always recommended that you verify the reputation and reputation of any buyer before selling. It is important to be aware of any fees and costs associated with the sale, such as shipping costs and assay fees (a process to verify the metal is real and purity). With these steps, you can ensure that you get the best deal for your gold, and it will be a smooth process.