In order to sell gold profitably, you need to figure out the principles by which the purchase points evaluate the product. You can sell gold in various forms to a bank, pawnshop or purchase point — all organizations have their own approach and will assign their own Gold Price per Gram.

Rate of gold

Initially, you can evaluate the gold product yourself. The first thing to pay attention to is the rate of precious metal. An impression in the form of a special sign and three digits is affixed on the inside or on the lock of a real gold product. These figures indicate how much pure gold is in the product. For example, the impression “585” tells you that there is 58.5 % gold here.

rich golden items
Photo by Scottsdale Mint on Unsplash

Pawn shops

In a pawn shop, the transaction is carried out quickly and you can receive money in a few minutes. After some time, you can buy your favourite jewellery back. Still, the disadvantage of pawnshops is obvious: this is the low price that the appraiser will offer for the product.

Gold purchase point

The point of purchase of gold is a more preferable option. They will offer a higher price. Such organizations are engaged in the subsequent sale of products for remelting, therefore, it is not necessary to count on a high price per gram of gold. You will have to part with your favourite jewellery forever.


The bank can offer a good price for gold. Still, in this case, it is referred exclusively to coins and gold bars. At the same time, a certificate confirming its authenticity and containing information about the precious metal will need to be submitted for the product. The gold product must not have any damage; otherwise admission may also be refused.

auctioneer hammer
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Auctions or private collectors

Another way to sell gold is to put it up for auction or offer it to a private collector. There is no upper price limit at all in these variants. In practice, it is quite difficult to sell a gold product in this way. To be sold at auction, the decoration must be really elite and exclusive, and the organizers will take their percentage of the amount. It is a great success to sell a product profitably to a private person.