So, you’ve decided to sell gold in Melbourne. Maybe you have old jewellery, coins, or even a gold bar tucked away in the drawer. But where do you go? And how do you know you’re not getting ripped off?
Gold is valuable, but not every buyer is upfront or fair about how they calculate offers. That’s why where you sell gold Melbourne can make a big difference in how much cash you walk away with.
What really matters when choosing a gold buyer, and how to avoid the most common pitfalls.
Start With Reputation and Licensing
Before you walk into any store, check if the gold buyer is licensed to trade precious metals. In Victoria, legitimate gold dealers must comply with Second-Hand Dealer laws.
Red flag: If there’s no business name, license, or pricing transparency, walk away.
Pro tip: Look for established companies who have brick-and-mortar stores across the city and offer walk-in valuations.
Don’t Just Take the First Offer — Get Multiple Quotes
One of the biggest mistakes people make when they sell gold Melbourne is settling for the first offer.
Even though gold prices are based on the global spot price, individual buyers have different fees, refining costs, and profit margins — which affect your payout.
It’s completely okay to shop around. In fact, you should. Some buyers offer up to 90% of the gold’s value, while others barely hit 60%.
See also: Understanding Metal Stamping Parts and Their Role in Manufacturing
Understand What Affects Your Offer
When you sell gold, buyers look at:
- Purity (Karat): 9K = 37.5% gold, 18K = 75%, and so on.
- Weight: Only the gold content matters, not the full item weight.
- Condition: Broken or tangled chains still hold value.
- Type: Bullion and coins usually fetch higher rates than jewellery.
Most reputable buyers will weigh your item in front of you, test its purity using electronic or acid tests, and then give you a breakdown of the offer.
Example:
If gold is $100/gram and your 18K ring weighs 10g:
10g × 75% × $100 = $750 (before any fees)
Avoid These Common Selling Mistakes:
- Going to a pawn shop: They often pay far less than dedicated gold buyers.
- Selling during a price dip: Check daily rates
- Not asking for an itemised breakdown: Transparency is everything.
So, Where Should You Sell Gold Melbourne?
Look for buyers who:
- Have consistent 4+ star Google Reviews
- Display current gold prices online
- Offer same-day, no-obligation quotes
- Clearly explain fees and purity testing
There are a number of gold buyers in Melbourne who have both physical stores in multiple locations and online stores. Reputable gold buyers will also offer transparent pricing and a good reputation of giving fair payouts to sellers.
Selling Gold shouldn’t be Complicated
When you take a few minutes to check prices, compare buyers, and understand the value of your gold, you take control of the process. Whether it’s old jewellery, inherited coins, or bullion, you deserve a fair price.
So if you’re ready to sell gold in Melbourne, walk in smart, ask questions , and walk out with confidence and cash in hand.
