If you are looking to earn some quick bucks from selling old Gold Jewelry in Kolkata, the coming months are probably the time to hit the bull. The situation is equally good irrespective of the gold stocks you possess, be it commemorative gold pieces, coins, bars, or jewelry. The time is evenly suitable for people in crises who want to be out of danger by disposing of some of their gold stocks.
However, the price of gold will show an upsurge in the coming years too. Therefore, nothing can beat you if you decide to wait till some better situation arrives.
Tactics you may seek to get the best price from the market
Start your process of selling. It starts with the determination of value for the items.
- Find the karat markings and weigh the jewelry, bars, or coins.
- You can calculate the melt value of the precise metal once the percentage of pure gold in different purity levels is in your hand.
- Start your purchase process from a buying vendor in your locality.
- Search online simultaneously. Comparing the rates that the other buyers present on the different sites offer will help you weigh the advantages of selling online vs. local.
- Do not forget to check for the online companies’ reputations.
- Send a mailer requesting the best reputable one to send a quote of the prices they are ready to offer.
- Bring your sellable gold items to the shop. Avoid sending via courier. It is not the best practice to Sell old Gold Jewelry in Kolkata.
Finding merit vale of gold pieces to be sold
Gold buyers have an international weightage pattern to find the merits of sellable gold. This is the troy ounce; one troy ounce is equivalent to 31.1 grams.
As we know, ornaments have other compositions in the form of alloys besides metallic gold. A piece of gold-filled jewelry will have a pure gold composition of about 5%.
Your buyer will weigh the items before melting and determine their karat value. Karat is the measure of gold fineness in sellable items. The grace is different for bands of varying purity. While a 12-karat metallic band contains 50% pure gold, it is 75% for 18-karat and 91% for 24-karat bands.
The reputed buyers usually purchase ornaments carrying Hallmark. The assessment procedure becomes easier in those cases. Old families in north Kolkata have been holding these properties for generations. They are not so receptive to the new methods. Gold buyers thus are bound to the old policy of melting jewelry to determine its worth.
People who want to convert their gold deposits into cash cannot wait to get paid at a later time. Therefore, they need to visit the institutional buyers who offer spot prices. Online buyers need to pay for advertising, overhead cost, and melting. The payment is thus below the ‘Spot Price’ after adjusting the profits.
Try to get 90% to 95% of the spot price while selling gold bars and coins. You deserve 80% – 85% of the melt value as the spot price for ornaments and other gold jewelry items. Cash on old gold is among the best prices offering organizations against buying gold.