1. Register at CoinBazaar.in
2. Email Us with subject "SELL OLD JEWELRY" & other details like your ID Proof, City, Contact Details, Value of Jewelry, Mode in which you want Money [Cash or Coins] etc.
3. Mention the Approx. Estimated Weight or Value of Gold Jewelry you expect to Sell, to help us Identify the Right Option of Jewelers who can give you BEST SERVICE and BEST VALUE in Exchange for your OLD Jewelry or Ornaments
4. If you feel the Value Quoted by the Jeweler is Less than Fair Market Value , there is No Obligation on your part to SELL the Jewelry. You have complete Right to Verify and Authenticate the Value Offered by the Authorized Jeweler.
5. You will have to carry KYC [Know Your Customer] documents like your Aadhar Card / ID Proof / PAN Card to the Jeweler to whom you would go to Sell the Jewelery. This may be required by the Jeweler to VERIFY your Identity and Genuinety of Old Jewelry being Sold. Read the below FAQ's more more detailed knowledge and understanding before Selling your Gold Jewelry.
6. You can choose in advance the Mode in which you want Money [Immediate Cash or Convert the Value to Buy New Ornament or Exchange equivalent worth of Pure Gold Coin or Bar]
7. CoinBazaar with it's Experience & Trust in Precious Metals Market will hand-hold you in guiding you to the Right Local Jeweler or Brand's Centre where you can Sell your Old Jewelery for Best Value.
8. Any Issues or Concerns you can email us at firstname.lastname@example.org
We have been educating and advising a lot of our investors at CoinBazaar.in about the questions related to: –
How to Check Purity of Gold?
What is the Procedure to Sell Gold Ornaments?
How to judge the Best Value for your Gold Jewelry?
Whom to Trust while selling Gold and what are the things to keep in mind while Selling Gold Jewelry?
What documents are required while Selling Old Gold Jewelry? Etc.
Since the number of queries have increased at CoinBazaar relating to it and the demand for selling gold jewelry in return for New Jewelry or Cash has increased, we have now stepped into this need and will hand-hold our customers and well-wishers by guiding them to the right Jeweler and also Educate them about how can they Sell gold jewelry for Instant Cash.
The following things should be kept handy when you intent to Sell your Gold and Diamond Jewelry for Cash:-
- Your original valid ID proof (PAN Card/Adhar Card)
- Latest original residence proof
- Passport size photo
- Original Bill of the Ornaments (If Available*)
To understand the process better, we want you to know the Process before Selling Gold Jewelry?
You might need the Cash to fund your children’s education, marriage expense, lifestyle needs, Buy Home or any other critical need where selling your Gold Ornament is the solution you have decided. Now in India there are Local Jewelers whom customers TRUST and resort to while selling their Gold Ornaments. They are like family doctors and people trust they say. However it is always better to know a few things so that you are not cheated or get very less value in this non-transparent valuation method of measuring the true market price for your gold jewelry. Jewelers or any other institution to whom you go to sell your old gold jewelry might take the advantage of situation knowing your ignorance and deduct the hefty amount as wastage charge, melting charge, etc from customers and pay the maximum 50-65% of gold value which is not worth at any manner for customers.
Thus we want you to make sure following things in order to avoid disappointment later:-
1. Purchase Bill (Purchase Invoice): A genuine jeweler always asks you to produce the original bill while selling the gold. It helps you to safeguard the ownership of gold ornament & also the jeweler is happy to offer you a good price knowing that there is no fraud possible of a stolen jewelry or ornament. Also it is impossible for the jewelers to go on denial mode about the weight, purity etc. as the details of purchased gold would be clearly stated in the original invoice.
2. Value of Gold: It’s always better to get quote from 4 different Jewelers before selling your gold ornaments. We at CoinBazaar.in are working towards helping our customers in this direction and suggest good Local Jewelers from your area to whom you can visit and get quote for your Jewelry. As an element of TRUST of CoinBazaar.in is added, the Jeweler will be bound to give fair Value of Gold , as they very well know that the customer will go to Other Jewelers as well referred by CoinBazaar. This helps in getting the Best Fair Value of Gold.
3. Checking Purity: CoinBazaar recommended Jeweler will always have a Certified Machine also known as Carat Meter Machine or similar to assess the Purity and get a Certificate Check. Gold Ornaments come in 22 carat or less purity. If your ornaments are 916 hallmarked then it is confirmed that your gold has 91.6% gold and rest is mixed with alloy to make it ornaments. If your gold ornament has no hallmarked it means that jewelers can manipulate you for low purity. Thus the Purity of your Gold should always be assessed and asked for from the Jeweler. If he is giving less Purity, you may choose not to Sell to this Jeweler.
4. LIVE Gold Price: Jewelers use many methods to check the purity of gold like- Acid test, Electrical conductivity test or XRF test. In first two tests, there are high chances that you may lose some percentage of gold in process of checking the purity. You need to visit a store which uses XRF technology to check purity as it gives accurate purity without losing a single gram of your jewels. CoinBazaar recommended jeweler ensures that they use the right way of measuring the purity and take the LIVE Gold Price to suggest the actual value of Gold Jewelry. The Jeweler will deduct a Fee of around 2% to 4% for the effort of converting your jewelry into raw form for future use, but will tell you the value of Cash they will pay immediately if you agree. They don’t keep you waiting once you have Agreed with the Value.
5. Selling the Gold: If you need Cash in exchange of Gold, sell it to the jeweler who can give instant Cash without keeping you waiting. If its an Old Jewelry there are chances that you might not know from where it was bought or from whom you bought it. Also if the Jewelry is received in inheritance the best option for you is to go to a Reputed Jeweler recommended by CoinBazaar and get your basic Valuation checks done before deciding to Sell your Gold. If you are selling Bullion i.e. Pure Gold Coin or Bar then it becomes easier for you as there is no much complication in determining the fair value of it. CoinBazaar.in always shows the LIVE prices if you want to buy Gold Coin and receive it at your home, however you can always ask the Customer Support Team of CoinBazaar.in to help you with LIVE selling price of Gold Coins and Bars.
Understand how Jewelers check Purity of Gold?
The value of the gold is measured in Karat [or Carat] system with 24 point-scale is considered as highest value with 100% pure gold. Gold ornaments with 12 Karat considered as 50% pure and only gold bar and coin comes with 24 carat i.e. 100% purity. These are in 3 types a] The Purest Form:- 999.9 [Also called Four Nines] b] The Superior Pure Form:- 999 [Also called Triple Nine] & c] The Pure Form:- 995 [Also called Nine Nine five]; You will always find these specifically mentioned against all Pure Bullion Products mentioned on CoinBazaar.in Rest of the ornaments manufacture in 22, 20, 18, 16, 14, 12, etc carat and mixed with silver, copper or iron to make it strong, tighten and durable ornaments.
There are basically three ways to check the purity of gold before buying: acid test, electrical conductivity and XRF technology.
CoinBazaar.in is always open to ideas, suggestions and discussion with its visitors and customers. We always wish to enhance the TRUST that our customers have placed in us since 2012 and will share our knowledge regularly.
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