Introduction: Turn Your Gold into Cash

Are you thinking about selling gold jewellery in Australia? It can be a very smart move. Gold prices often stay strong. In fact, in 2023, the average price of gold in Australia was more than AUD $3,000 per ounce. That is why many people choose to sell their old jewellery, coins, or even broken gold items for cash.

Selling gold does not have to be stressful. If you know the right steps, you can sell your jewellery easily and safely. Most importantly, you can make sure you get the best price for your pieces. This guide will take you step by step through the process.

1. Assess Your Gold Jewellery

Before you sell, you need to know what you have. This helps you get a fair price and avoids being cheated by dishonest buyers.

Identify the Gold Purity (Karat)

Gold comes in different purities, which are measured in karats (K). Pure gold is 24K, but most jewellery is made with lower karats because pure gold is very soft.

• 10K gold has 41.7% pure gold.

• 14K gold has 58.3% pure gold.

• 18K gold has 75% pure gold.

• 24K gold is 99.9% pure gold.

Look at the small stamp or hallmark on your jewellery. It will show the karat. Higher karats are worth more because they have more pure gold.

Weigh Your Items Accurately

The weight of your gold is just as important as the purity. Buyers use weight to decide how much to pay you.

• Use a reliable digital scale if you have one.

• Weigh each piece separately.

• Record the weight in grams (most common in Australia).

Even small differences in weight can change the price you get. Accurate weighing ensures fair payment.

Understand Gemstones and Design

Does your jewellery have diamonds or other precious stones? If yes, you should know that these stones may add extra value. Some buyers only care about the gold weight, while jewellers may pay more for designs and stones.

• Antique or designer pieces may have a higher resale value.

• Separate the value of the stones from the gold.

• In some cases, selling to a jeweller instead of a refiner may be better.

2. Research Your Selling Options

Once you know your gold’s value, it’s time to decide where to sell. Different buyers may offer very different prices.

Local Jewellery Stores and Pawnbrokers

Many local jewellery stores buy gold. Pawnbrokers also offer cash for gold items.

• Pros: Quick cash, simple process.

• Cons: Offers are often lower than other buyers.

Pawnbrokers may also give you a short-term loan against your gold if you do not want to sell it permanently.

Online Gold Buyers

These are companies that buy gold through the mail. They operate across Australia.

• You send your gold by post.

• They test it and give you an offer.

• If you accept, they send payment.

Online buyers often offer competitive prices, but you must check reviews and confirm they are trustworthy. Many national online gold buyers operate in Australia, so compare them carefully.

Gold Refiners and Bullion Dealers

Refiners and bullion dealers buy gold for its metal content.

• They are good for selling scrap gold or large amounts of pure gold.

• Prices are usually close to the official gold market price.

• Not all of them deal with small jewellery, so check first.

If you have broken chains, damaged rings, or bulk gold items, this may be your best choice.

3. Get Multiple Offers

One of the biggest mistakes sellers make is accepting the first offer. To get the best price, always shop around.

Compare Prices from Different Buyers

Ask for offers from at least three different buyers.

• Make sure each buyer uses the same weight and karat details.

• Ask them how they calculate their offer.

• Compare their prices with the current spot price of gold.

This helps you avoid being underpaid.

Ask About Fees and Deductions

Some buyers may deduct fees for:

• Testing your gold

• Refining costs

• Processing charges

Always ask if there are hidden fees before you agree. A clear breakdown of costs ensures transparency.

👉 Expert tip: “Always clarify all costs upfront,” says jeweller Jane Doe.

Real-World Example: The Smith Family

The Smith family had an 18K gold chain to sell.

• One buyer offered them $500.

• Another buyer tested it and offered $650.

By comparing offers, they earned $150 more just by shopping around.

4. Prepare Your Jewellery for Sale

Getting ready before you sell makes the process smooth and professional.

Clean Your Items

Gently clean your jewellery before showing it to buyers.

• Use mild soap and warm water.

• Dry with a soft cloth.

A clean item looks better and helps the buyer see its quality clearly.

Gather Any Paperwork

Do you have receipts, certificates, or original packaging?

• Certificates can prove authenticity of diamonds or special pieces.

• Receipts can confirm the karat and purchase history.

This can sometimes increase the offer.

Package Securely for Shipping (if applicable)

If you sell to an online buyer:

• Use padded envelopes or small boxes.

• Make sure items do not move around.

• Insure the shipment if the items are valuable.

• Follow the buyer’s instructions carefully.

This protects your jewellery during transport.

5. Sell Your Gold and Get Paid

Now it’s time to finish the deal.

Accept the Best Offer

After comparing all offers, choose the one that gives:

• The best price

• The fastest payment

• The most trustworthy process

Confirm the final amount before handing over your gold.

Payment Methods

Different buyers may offer:

• Bank transfer – fast and secure

• Cheque – may take longer to clear

• Cash – instant, but less safe for large amounts

Pick the method that works best for you.

Legal and Safety Considerations

Always make sure the buyer is legitimate.

• Check licenses if required.

• Keep written records of the sale.

• Be aware of local laws.

Selling gold is a financial transaction, so protect yourself at every step.

Conclusion: Your Gold, Your Gain

Selling gold jewellery in Australia is easier than many people think. By following a simple process, you can get the best price for your unwanted items.

• Assess your jewellery’s purity, weight, and value.

• Compare offers from different buyers.

• Clean and prepare your items properly.

• Choose a trustworthy buyer and safe payment method.

Your old or unused jewellery could turn into valuable cash today. Whether it’s a broken chain, an old ring, or even antique pieces, selling gold is a great way to unlock hidden value in your drawer.

👉 Want to learn more about local selling options? Read our guide: How to Sell Your Gold in Parramatta: Insider Tips for Top Payout