Since time immemorial in India, it has been a practice to invest in gold so that it can be sold in exchange for money thus being helpful in times of need. Nowadays, gold is accepted at banks, pawnshops and by other financial firms in exchange for money.
When selling your used gold jewelry, the following will give you some guidance on how to go about the sale of your used jewelry. Gold jewelry has a marking on it which denotes the purity of the gold in âKâ values or as a three digit number which denotes the percentage of purity. If you are not sure about what is inscribed on the jewel, you can take it to a goldsmith or a jewel shop of repute and they will be able to tell you the purity value. The weight of the jewel is to be determined accurately. The buyer will deduct a certain percentage by weight for the impurities contained in the jewel due to usage.
Multiply the weight of gold in grams (after deduction for the impurities component) with the price per gram of gold. This will give you the total value of the gold. If the jewel that you looking to sell is broken, you should have the appropriate documents to prove that the jewel was purchased by you. You will be able to sell this for the gold content as scrap metal for the price.