Investing in gold is always a wise option. It doesn’t matter whether you choose gold coins, jewelleries, or bars. Having gold always saves you during uncertain situations. Before deciding to exchange gold for cash, you may question the following things:

“How to sell my gold for cash?”

“ What is the process behind it?”

“How much cash will it yield upon selling gold?”

The question never ends until you research it, isn’t it?

In this blog, we are going to focus specifically on the most ignored aspects of selling gold for cash: the process of exchanging gold for cash and the required documents.

Process of Selling Gold 

Selling gold requires several steps to ensure that you receive a fair price upon transaction. The following points discuss the entire process of selling gold in detail. 

• Research the Market

It is true that selling gold becomes a compulsion when you are going through a financial crisis. However, you can keep your eye on current gold prices through newspapers and trustworthy gold buyers. You should analyze the market trends to realize whether gold prices are falling or rising. Remember that being updated on the current gold price is essential. It is advisable to sell gold during peak times, which yields maximum return on investment.

• Choose a Reliable Buyer 

You can exchange gold for cash in Kolkata. You can visit jewellery stores, gold refineries, and online gold buyers. You need to understand how each of the buyers buys your gold. Check their websites and prices they are willing to offer. Based on your search and research, you can make the right decision. 

• Prepare Your Gold for Sale

Presenting your gold in its best condition will help you to get the best appraisals. You should clean your gold to remove dirt or any other tarnish. In addition to clean gold, inspect for broken or damaged parts as it may affect the selling prices.

• Gold Evaluation

After comparing various companies and getting multiple quotes from them. Visit us at Cash on Old Gold, where we evaluate the price of gold in front of your eyes. Here’s how we determine the price of gold:

1. Check the Purity of Gold

Gold is measured in karats. Pure gold is 24 karat. Generally, gold mixed with other metals weighs 14K,18K, or 22K. Ensure that your gold is hallmarked to guarantee its purity. 

2. Weigh your Gold

We use a precise scale to measure your gold. The value is measured in grams and ounces. 

3. Authentic Evaluation Services

We offer genuine evaluation services for gold. This ensures transparency in the process based on the gold’s purity and weight evaluation. 

Based on the evaluation, we offer you a fair price to sell gold for cash. The cost of gold for sale is based on the current market situation.  

• Complete the Sale 

When you agree on the prices of selling gold, the buyer will ask you for proof of identity, address, and ownership. The mode of payment is based on your choice. They will pay you instant cash or transfer the money via online transaction immediately. 

Documents Required for Selling Gold

Many people think that selling their gold does not require any original documents. It isn’t the case, you do need the following documents to visit a trusted gold buyer: 

• Aadhar Card 

The Government issues Aadhar Card as a unique identification document which establishes the identity of the seller. It proves the legitimacy of the transaction and compliance with regulatory norms. Aadhar Card helps you with KYC (Know Your Customer) verification, which helps establish financial transactions. 

• PAN Card 

The Income Tax Department issues PAN Card as an additional unique identification. It is a mandatory document for high-value transactions and to prevent tax evasion. The use of PAN card ensures transparency in transactions and compliance with tax regulations. 

• Address Proof 

It authenticates the seller’s residential presence. It helps by stamping sellers’ details and existence. You can visit your reliable gold buyer with your driving license, ration card, utility bills, and other essential documents. It makes the process of large transactions more transparent when you exchange gold for cash in Kolkata.

Conclusion

Thus, you need to understand how to sell your gold effectively to yield high returns. Research about the market trends, the websites of various companies, read client testimonials, and prepare your gold for sale. You should also learn about the evaluation process of your gold to understand how you can exchange gold for cash. However, don’t forget to bring your legal documents as evidence to ensure safe and secure transactions.  

You can reach out to us by visiting our stores to get a fair price on selling your precious gold.