There are multiple ways to sell gold for cash in Chennai, and each of the ways has its pros and cons. Therefore, you must do the in-depth research and compare before going ahead to ensure you get the best deal. Finding the correct buyer is the most crucial factor here.
Table of Contents
Five Ways to Sell Gold for Cash
1. Online Platforms:
You can plan on selling your cash for gold online since it is the most convenient and viable option. It is because running a business online is economical and cheaper as compared to having a physical shop and paying additional expenses; you get the best deal and the maximum price for the gold. Since the buyers do not incur any extra costs, they keep a lower margin than those who have physical shops.
Selling gold online is a seamless, hassle-free process and includes the following steps:
- You must find a buyer with a good reputation and then check their website for further proceedings.
- You can select the shipping method, and you will receive an insured mailer that you can use to ship the gold to the buyer.
- The purity and actual worth of the gold is checked by the buyer, based on which he will offer you the final price depending on the conclusion.
- You can then think about it and compare it with other offers. However, if you feel this is the best offer, you can accept the offer. The payment will be made by the buyer using the method discussed and finalized.
- You may reject the offer if you think you can quickly get a better price than this and that the worth of your gold is much more than the price offered. There is no compulsion for you to accept the offer.
- You should be aware of the extra cost incurred to you, depending on the online company or buyer you have chosen.
2. Pawn Shops:
Another way to sell your gold for cash is at a pawn shop. Pawnshops usually accept gold coins, bullions, and jewellery and might be an excellent option to sell gold. However, there are chances of the price you are offered to be low compared to the price you can get online. These shops loan money to the customers, which is how they earn, and they buy gold for a low price and sell it with a profit for a higher return on investment. However, if you sell your gold at a pawn shop, you will receive instant payment right on the spot, without waiting for it. If you need the cash right away due to an emergency, this option will prove to be convenient. There is another benefit of selling gold for cash at the pawnshop; there is no extra shipping, and handling cost is incurred, which helps you save money.
3. Jewellery Stores:Â
One of the most popular ways to sell gold is the jewellery shops, and there is not much difference between selling at a pawn shop and here. However, all the jewellery shops do not buy gold, and you will also be offered lower prices. The advantages of selling your gold for cash and at the pawnshop are the same, and there is not much difference.
4. NBFCs:
With a wide number of NBFCs available in the market, there is a vast choice for you, and you can decide with which one you want to proceed. So, this is another way to sell gold in Chennai. This is a better option to sell gold for cash since the process is quick, hassle-free, and happens in front of you. It has become easier to measure the accurate weight and purity of gold with the latest technologies used by the NBFCs. Some of them provide online doorstep services, which makes the process more convenient. You will receive cash for your gold by just sitting at home, and you can also get a higher price as the offer is made according to the current market price of gold.
Gold Merchants:
There are specific gold merchants that only deal with the buying and selling of gold. You can also consider this to sell gold for cash and see what they offer you. If the price suits your needs and matches your gold’s worth, you can take the offer.
These are some ways to sell your gold for the best price. However, do not go ahead with any method without performing proper research.
