Better Ways to Get Cash from your Gold: Maximising the Gains

Today, Indian markets offer a multitude of options in terms of buying and selling gold. But, when it comes to banks, they usually don’t repurchase the ornaments from people. Sell gold to a local jewel smith or craftsmen has its own disadvantages. Many among these jewel smiths deduct a huge amount in the name of wastage charge, melting charge, etc. As a result, the seller gets a maximum of 60-65% of the net value of gold. This is a huge loss. So, then, you may wonder ‘what is the best place to sell my gold?’. The answer lies in understanding your gold’s value and visiting the best gold buying company.

Here are some pointers to keep in mind to maximise your gains when selling gold:

1. Firstly, know the value of your gold

It is very important to know the worth of your gold before you selling the gold. Identify its carat and know the correct weight of your jewellery. After knowing how many grams of gold you have, you can evaluate its value by multiplying its weight by the market price per gram. You can easily find the gold pricing information online. But, the prices you will be getting from gold dealers will be less than the price offered by commodity exchanges. So, to get a realistic estimate to reduce the gold exchange market price by 20-40%. If you don’t want to get into these calculations, you can easily visit Muthoot Gold Point to get an estimate of your gold’s value, determined by scientific machines.

2. Determine if your gold items are unique or not

Most of the gold jewellery gets melted down once they are sold. You must be paid about 70-80% of the melt value. So, clearly observe if there are any pieces that are unique, for example, if it is a vintage or designer piece, as they are likely to have some additional value.

3. Separate them according to their purity

You should always separate your gold by purity. The higher the carat, the pure the gold is. The carat ranges from 10k, 14k, and to 24k, which is pure gold. You can refer to the receipts of your jewellery to identify its carat value. Hallmarking establishes the purity of your jewellery, and a higher carat will get you a higher value. Visiting Muthoot Gold Point removes the hassle from this process too. Our highly scientific XRF machines determine the carat and value of the gold with precision so you get the best value of your gold.

4. A reputed brand is always a better option than pawnshops

The pawnshops do not give you the best price. It is advisable to avoid them and visit a reliable gold buying company, such as Muthoot Gold Point. Muthoot Gold Point is an integral part of the Muthoot Pappachan Group which has an 134+ years of experience in offering financial solutions to Indians. The process is transparent and efficient, with no room for human error. All the evaluations are done scientifically and the amount is handed over to you instantly.

5. Always carry your KYC documents

The buyer might ask you for an ID in order to identify any stolen gold. If you don’t carry your documents, you may receive a lower value of your gold.

Conclusion

Hence, it is important that you visit the best place to sell your gold to get its value. By considering the above-given factors, you will be able to get a clear idea about selling your gold. A legitimate buyer will require your signature, photo ID, etc. Muthoot Gold point offers you instant cash if the value is up to Rs 10000, if more, the amount is transferred to your bank account instantly. Visit your nearest Muthoot Gold Point branch to get the best value of your gold.