Selling Gold Bullion or Gold Coins?

Do you have 1oz Gold Kiwis, Canadian Gold Maples, Gold Eagles, Gold Krugerands, Gold Sovereigns, Gold Pandas, or any other gold bullion to sell?

It’s a great time to cash in on high gold prices on Gold Bullion and Coins that are sitting around not generating interest or paying bills!

Gold Coins can come from many different countries in all kinds of sizes and quality of gold. Bring your gold bullion and gold coins to Gold Smart if you want the best prices (not to mention our fast, friendly and professional service).

If you are serious about selling, contact us now to make a confidential appointment and appraisal. Immediate cash settlements.

Listen to the marketing from the jewellery industry, and the idea that gold is an investment for the future will be repeatedly mentioned to help sell the product. This concept has been religiously passed done one generation to the next as if gold functions as a money growing asset that every stock portfolio should have a piece of in their mix. In reality, while gold has appreciated in value over time, it is not an investment per se, definitely not in jewellery form. Gold is a property that does change value over time, and that value could go up or down, depending on what the demand is for gold content. These two concepts are regularly mixed up with gold, no thanks to the marketing from the jewellery industry, and thousands of people buy gold jewellery with the expectation that they will be able to sell it in the future with an appreciable gain and profit, similar to company stock or a home.

A True Investment by Definition

An investment by definition involves depositing money or value with another with the promise that, if things go well, the money will be returned on a call with a bonus, a profit, in the form of interest. While the value of the money or asset itself could go up, this is not the profit of the investment per se, it is gain that is different. The two are driven by non-identical drivers. While the gain (or loss) is changed by the market perception of the value of the share invested in, the interested is determined by a contractual relationship. People often lump both together and call them profit because of tax reporting rules, which do combine both amounts as reportable and taxable profit. However, in terms of gold, they are not synonymous.

Gold does not gain interest or guarantee profit for holding it for a certain period of time. There is no “staking” profit in gold like one could have with a given cryptocurrency. Gold is, at the end of the day, a commodity that goes up and down in value based on how much people as a whole in a market want that resource or not. They may very well have different reasons for ownership, and many do hold onto gold to preserve the value of their money in a form that is not otherwise connected to the mainstream economy and drivers of supply and demand consumption.

So Why Are People Calling Gold Jewellery an “Investment?”

Much of the problem has to do with unregulated marketing. While marketing usually can’t advertise something that is not true, as this would be flat out lying to consumers. They can quite easily and often do confuse facts. It is a fact that gold has generally risen in value over the last few decades. It is a fact that gold is considered a valuable commodity internationally and is accepted for value regardless of where one happens to be. It is a fact that more gold increase one’s value, which can be exchanged for money, food, services, goods and other property. However, it is not true that holding gold will automatically return an investment value in the future. It is also not true that gold will remain at a high value and continue to increase over time. That part often gets left out of marketing associated with gold jewellery. No surprise, people buy gold jewellery at retail pricing, which well above the actual value of the gold itself, and then they expect when they sell the same jewellery in a decade or so, it will be worth twice as much. Usually, they end up wrong.

How Gold Jewellery Value Changes When Owned

Gold jewellery value often behaves like a new car. As soon as the product is taken off the dealer’s hands, it drops 40 percent of its resale value or something similar. In reality, the jewellery was never worth that high figure it sold for at retail. That was simply markup and profit that went into a jewellery dealer’s pocket, thank you very much. Instead, the now-purchased jewellery is only worth what it can be recycled for. That figure’s calculation starts with the spot price of gold adjusted by the quality of gold used in the jewellery piece and the amount of gold involved. When combined with quality-level and content, the final figure is then adjusted further down so that the recycler/buyer can make a profit and stay in business. So, it’s frequently the case unsuspecting consumers end up being shocked twice. First, the value of the jewellery after owning is a big drop from what they paid, and secondly, the jewellery’s resale value is under the current spot price of gold as well.

Now, the above doesn’t mean every piece of gold jewellery is only worth a buck after the product is sold. In fact, over time, it’s quite possible a jewellery piece can increase in value considerably. A gold ring bought in the 1980s when gold was on average between $300-500 USD per Troy ounce, is today commanding a value per ounce based on gold at $1,850 per ounce, adjusted for weight and quality. However, the ring may still not be worth what was paid if it sold for $2,000 USD when first bought. This story repeats itself all the time with gold jewellery, which is why buying jewellery for the primary purpose of investment is a horrible idea.

Gold Jewellery Can be a Big Financial Boost

On the other hand, if you already have gold jewellery through past purchases, gifts or inheritance and the pieces are just sitting around doing nothing, then the gold can actually be an advantage to you. Gold that does have a function or use is a waste of placement and space. And this can happen more often than people think. Broken pieces, missing pairs, old styles no longer worn, or gifts that never quite appealed to you but you took them to show appreciation can all be turned into real cash for their gold value. By selling your unwanted gold jewellery, it can turn in to actual cash that you can use to bolster your savings, pay for a trip or just put aside for a rainy day or an emergency. In that regard, your old gold jewellery can actually be very valuable. Gold Smart can help. Being one of New Zealand’s premier second-hand gold buyers, we can liquidate your old, unwanted gold jewellery for ready cash, giving you the best gold recycle price available because we are also a consolidator. So, it doesn’t matter if your gold is a lot or just a few pieces, we will buy all the real gold. Give us a call or email to find out more. No, gold will never take you to the moon, but it will help take care of the roof and some fun times if you let it.

How can you tell when you come to sell gold that your “gold” is real gold?

At Gold Smart we often see items that appear to be real gold jewellery and unfortunately sometimes turn out to be not gold or only gold plated (GP/P). The first and most easy thing to look for is hallmarks – does your old gold jewellery have clear hallmarks? If so, it doesn’t mean that it’s conclusive as many fake items have convincing hallmarks.

The next thing to consider is where you purchased the item from – did you buy it from a reputable Jeweller in New Zealand? Do you have “proof of purchase” and/or a valuation from a registered Jewellery valuer? Once again this is not conclusive that the items are real however it does give you the option to ask for a full refund if the gold jewellery once tested shows to be less carat than indicated.

Another simple test is to use a heavy magnet over the item – if the gold jewellery is attracted and sticks to the magnet the the “Gold” is not real gold. Note that the clasps often have springs that are magnetic and so expect the clasp to stick to the magnet. How does it look and feel? Has it created discoloration on your skin and or the item? Does it have a high-sheen (real gold should not “shine”)?

Most frequently the gold jewellery that people bring Gold Smart to sell that is not real gold has been given as gifts from ex-boyfriends and/or husbands (either with or without their knowledge that the items are not genuine).

It’s an art when people are selling gold to know the correct and proven methods to test any gold jewellery, gold coins and scrap gold (not to mention years of practice and knowledge to perfect).

If you’d like the true value of what your items are worth talk with New Zealand’s Gold Buyers – Gold Smart today.

P.S. Sometimes all that glitters is not gold!

At Gold Smart we’re often asked is now a good time to sell gold, gold coins, gold bullion, broken gold, and old gold jewellery. Our answer is yes! With gold prices at record levels it’s a great time to turn your out-dated items into cash.

When items come in such as small diamond engagement rings or gold jewellery that is brand-new, we often recommended that people try putting these online to see what price they can get. The best strategy is to have a very low reserve price and accept that there is a lot of people wanting to sell gold jewellery, gold coins, gold bullion and diamonds right now. We tell customers that they are competing with many others so high quality photos and accurate descriptions are important.

Of course, not everyone has the time or wants to sell gold jewellery online to see what price they get. The quality of gold does not matter to Gold Smart as we are paying for the actual gold content only – not how new or pretty an item maybe. Some gold pieces have collectors value however collectors generally base their prices on actual gold content anyway.

If you’re looking for the best prices for your old gold jewellery, gold coins, gold bullion – talk with New Zealand’s leading gold buyers Gold Smart today.

Gold the precious metal so long coveted is now being exchanged for cold hard cash.

The uncertainty in the global economy and the record high price of gold is leading to many people looking for new ways to find some extra cash.

“It’s simple – gather up any old gold jewellery you may have (including any broken gold, mismatched pieces, broken gold chains, single earrings, etc) and bring them to goldsmart. A goldsmart expert will weigh and test each item and calculate a price for you on the spot for your old scrap gold.” – says Anita from Gold Smart.

Chances are you’ll walk away with hundreds of dollars (in some cases thousands of dollars). Use the extra money to buy yourself something to wear without feeling guilty!

Many of our customers say how dirty and untrustworthy “Pawn Shops” and “secondhand dealers” are (not to mention many have been treated rudely by Jewellers and Jewellery Shops). It almost goes without saying that they take advantage of people when they might not know any better. Have you had or heard of similar experiences – we have, many times.

That’s why we recognised the need to provide an open and fair process for you to sell your scrap gold and old gold jewellery. Gold Smart offers a professional and friendly solution – providing a comfortable and safe way to get the best price for your items.

Do you have a lot of jewellery you haven’t used – perhaps gone out of style, sitting in a drawer not being worn?

Talk to Gold Smart because we have perfected the process of helping you get immediate cash for your unwanted gold jewellery.

Come and see us today – there has never been a better time to sell gold.