Where To Sell Gold: Finding The Best Places

Gold is presumed to have a steady and ready market all around the world. Some markets however, are bigger and better than others. If you have the capacity to trade internationally, then you are better placed. Local markets too can prove to be as profitable. The traditional buyers of gold are jewelers, gold dealers, dentists, sculptors and individual gold collectors. The government and financial institutions also buy gold though in very large quantities. The spot price of gold keeps varying almost on a daily basis; a fact that can be proved by keenly following the trends on a site like Gold Price Australia.

Jewelers

They will buy your adornments based on the weight of the gold, which is measured in troy ounces. A troy ounce equals approximately 13.1034768 grams according to the Perth Mint. The purity, that is the presence or absence of other compounds in the ring, bracelet or pendant will be determined using the karat system, if it is not inscribed in the piece itself. Authentic Jewelers are found in almost every city and town in Australia. The Jewellers Association of Australia and National Council of Jewelry Valuers are good referral points for looking up reputable dealers.

Gold Dealers

Gold dealers are also found all over Australia. Some are exclusive coin dealers. Approved traders can be looked up in the Royal Australian Mint. Many coin dealers, especially when there is a looming economic crisis, tend to accept back their own gold coins only. This could prove to be a challenge if you bought from a small dealer with no outlets and you happen to be in a different location from you bought them from initially. Even if they buy it back, they usually offer lower prices than what you may have bought them for.

International markets

To do this, the best form to have your gold should be in ingots. In 2010, gold exports were the third largest from Australia according to the Australian Department of Foreign Affairs and Trade. India and the United Kingdom are the largest buyers of Australian Gold.

Gold Parties

A report appeared on the SMH on May 23 2010 which had an account of how a gold party had made certain individuals some money. People simply come to the party with their trinkets and other gold jewelry they wish to dispose of, have it appraised and value calculated. It was reported to be very popular, though sellers were being robbed blind, as the gold was being bought for way less than the true market price.

Online Dealers

There are countless of them on the internet, though not all of them are viable. Be sure to represent your coins properly and beware of deadbeat bidders who fail to pay at the end of the auction. Sell your bullion coins first before you do the rare ones.

Most importantly, do not only rely on one buyer. Use various modes of selling depending on the quantity of your coins and to minimize the chances of you being defrauded.

Finding where to sell gold can be quite a grueling process but once you find a credible buyer, keep going back.


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Finding a place to sell gold can indeed be a grueling process. This is one of the reasons why Abraham recommends the Gold Dealers Company where he is a valuer. He banks on his warmth, broad knowledge and fifteen years' experience in the gold industry as his selling points. For more information and advice, visit http://sellgoldsydney.com/ .