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What influences the price of secondhand gold?

It shouldn’t surprise you to find out that second hand gold prices are mainly dictated by the secondhand gold itself. Secondhand gold may have different shapes and utilities; from simple jewellery, to rare, hand crafted jewellery or ornaments, to artefacts and coins. To make sure that you are dealing with the right price for secondhand gold, check the objects for cracks, scratches and other deteriorations. Any small damage will lower the gold price.

The Purity of the Secondhand Gold

Gold has different purity levels which are expressed generally in carats. The most expensive gold is 24 ct gold. The price of gold drops as the purity level drops; the fewer carats the gold has, the lower the price is. Remember to check the purity of the gold in a specialised centre. Anyone could say that he or she is selling 24 ct gold but what is the proof of that?

The Value of the Secondhand Gold

The value of the secondhand gold is not the same as the price of the secondhand gold. The value of gold objects resides in several aspects related to:

  • The history of the gold
  • The age of the gold, especially ancient or medieval artefacts
  • The rarity of the gold
  • The manufacturing method used to make the object
  • The details of the gold
  • Any legend surrounding the object, the more mystery around the object, the more value added
  • The religious implications of the objects’ history

If at least these three things are present when dealing with secondhand gold, you won’t have a problem getting or paying the correct price of secondhand gold.

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