In the vast majority of cases, when someone owns gold it is in the form of gold jewellery.  And when that person wants to sell their gold jewellery, for whatever reason, there are a number of considerations they should keep in mind:

  • If the jewellery is broken, damaged, or greatly out of fashion, then it will likely only fetch the melt value of the gold without any compensation for beauty, craftsmanship, or sentimental value. Even precious stones might be declined.
  • If the jewellery is fashionable or antique, it might be better sold for its resale value (usually much higher than melt value) directly to a jeweller or through online classifieds.
  • Careful sellers familiarize themselves with the current price of gold in order to evaluate the fairness of any offer.

Less often, but certainly not rare, are gold coins being sold.  As with jewellery, gold coins can be divided into two categories for sale:

  • Gold bullion coins are those which are essentially gold minted into coin form – a gold investment vehicle available to anybody. The value of these is solely based on the gold content of the coin.
  • Collectable gold coins (numismatic coins) are those which are rare and are of interest to collectors. the value of these coins not only takes into account the gold content, but also the rarity and condition. A local numismatic society or association can be of service in determining a reasonable selling price, as well as recommending reputable dealers.

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