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We're here to help with any questions you may have!
We're here to help with any questions you may have!
Many people in Australia own gold. Some people get gold as a gift. Others buy it as an investment. But sometimes, you may need to sell it. Maybe you need money fast, want to sell old jewellery, or turn gold into cash.
Selling gold is a big step. You should get a fair price. You should also sell it safely. This blog will help you learn the best way to sell gold in Australia, step by step.
There are many ways to sell gold. Each method has its own pros and cons. Let’s look at the most common ones:
Selling to a Jeweler
You can walk into a local jewellery store and ask for a price. Many jewellers offer buy-back services, especially if you bought the item from them.
Pros: Easy and fast.
Cons: May give you less money.
Sell to Gold Buyers or Dealers
Gold buyers or dealers only buy gold. Some have shops, others work online. Some even come to your home.
Pros: Gold buyers will give you a good price for your gold.
Cons: You have to check if they are honest.
Sell Gold Online
You can sell gold on the internet. Some websites let you send gold by post. They check it and pay you later.
Pros: Easy to compare prices.
Cons: You must trust the website.
Sell at a Pawnshop
You give your gold to the pawnshop and get money. If you pay the money back, you can get your gold back.
Pros: Quick money.
Cons: You get less value for your gold.
Selling to Refineries
Refineries melt gold and make new products. Selling directly to them can give you the highest value.
Pros: Highest payout.
Cons: Not easy for everyone to access.
Before selling your gold in Australia, it’s important to understand how it's valued.
Gold Purity (Karats)
Gold is measured in karats. Pure gold is 24K. But most jewelry is 22K or 18K. The lower the karat, the less gold it contains.
24K = 99.9% pure
22K = 91.6% pure
18K = 75% pure
Gold Weight
Gold is usually weighed in grams or troy ounces. One troy ounce = 31.1 grams. The price depends on this weight.
Market Price
Gold prices change every day. You can check websites like:
Perth Mint
ABC Bullion
GoldPrice.org.au
Use a Gold Price Calculator
Some websites help you check how much your gold is worth. You enter weight and purity, and it shows the price.
A little preparation can increase the amount you get when you sell your gold
Clean Your Gold
Gently clean your jewellery with water and soap. Don’t use strong cleaners.
Check for Hallmarks
Look for a small stamp on the gold. It shows the purity (like 750 for 18K). This proves your gold is real.
Collect Papers
If you have a bill or certificate, show it. This builds trust with the buyer.
Old or Fancy Designs
Old designs may be sold as scrap. But antique or fancy pieces can be worth more.
Let’s look at the most trusted and profitable places in Australia to sell gold:
Reputable Gold Buyers
Companies like Time&Gold, Gold Buyers Melbourne, or Gold Exchange Universe are licensed and offer fair market prices. Many offer in-store visits or mail-in options.
Jewellery Stores
Trusted national chains like Michael Hill, Bevilles, or Angus & Coote may offer gold buy-back programs or quotes.
Online Gold Platforms
Websites like Time&Gold or ABC Refinery allow you to get quotes online. Some even offer insured shipping.
Gold Refineries
You can sell directly to ABC Refinery or The Perth Mint if you have gold bullion or large quantities of jewellery.
Always get multiple quotes.
Never accept cash without a receipt.
Check ABN registration of the business.
Read online reviews (Google, ProductReview.com.au).
Compare Offers
Different buyers offer different prices. Check with at least 2–3 Best Gold buyers.
Negotiate
Ask for more if another buyer gave you a better offer
Sell at the Right Time
Gold prices go up and down. Sell when the market price is high.
Get an Independent Valuation
A jewellery valuer can tell you the real value. Search for valuers in your area.
Do I Have to Pay Tax?
If you are not a business and sell your personal gold, you don’t need to pay GST. But if you made a profit, you may pay Capital Gains Tax (CGT).
Keep Receipts
Always take a receipt from the buyer. It’s proof for tax or future problems.
Check the Buyer Is Registered
Check if the business has an ABN. You can search this online.
Not Knowing the Value
Check purity, weight, and today’s gold rate before selling.
Selling in a Hurry
Quick decisions may give you less money. Take time to compare.
Not Checking the Buyer
Only deal with licensed and trusted buyers.
No Receipt
Always ask for a proper bill when you sell.
Yes. You can sell broken or old gold as scrap. The value depends on weight and purity.
Most shops pay the same day. Online sellers may take 3–5 days.
If the jewellery is special or old, it may sell for more. If it’s plain or broken, sell as scrap.
Look for hallmark stamps (like 750 for 18K). You can also go to a jeweller for a test.
Selling gold in Australia is easy if you follow the right steps:
Check your gold’s weight and purity
Look up the current gold price
Compare quotes from 2–3 buyers
Pick a trusted, licensed company
Always ask for a receipt
Don’t rush. A little research can help you get a better deal. Be smart, stay safe, and you’ll get the best value for your gold.
Want to sell your gold? Start by checking today’s gold price online and contact 2–3 trusted gold buyers near you. Take your time and make the best decision!