Struggling with Rising Prices? Sell Your Unwanted Gold & Silver Jewellery

Static incomes and inflation are playing havoc with family budgets. Selling unwanted Gold & Silver Jewellery could provide a welcome lifeline. In practice, bracelets, necklaces and wedding rings should not be considered profitable investments. The manufacturers and retailers of these items will have included substantial markups when setting the purchase price, and the receiver of revenue will add a further 15% VAT. So you might have to wait quite a while before you can show a profit on your late granny’s trinkets. Nevertheless, the Precious Metals used in their manufacture have a guaranteed value that should tend to grow steadily over time.

What Factors Govern the Price of Second-Hand Gold & Silver Jewellery?

As with most commodities, supply and demand are critical factors in determining the value of Precious Metals. Overabundance and waning orders act to depress their prices. In contrast, scarcity and increased demand have the opposite effect, much to the delight of mining companies and their shareholders. However, the need for these metals fluctuates and will be reflected in the global spot prices of the affected minerals, which are published twice daily in US Dollars per Troy Ounce. These are the figures that the purchaser should apply if you choose to sell your unwanted Gold & Silver Jewellery. The amount you receive will be based on the weight of your items and their purity. Exchange rates, geopolitical uncertainty and shrinking or expanding government reserves will also influence these official valuations.

What Happens to the Gold & Silver Jewellery You Sell?

The fate of your unwanted items and how much you get for them depends to some extent on how you choose to sell them. For example, if you were to take them to a pawnbroker, they would either be re-sold to a third party or returned to you when you can afford to redeem them. A jeweller might also re-sell it or decide to re-use its Precious Metal content and Gems to manufacture new and more fashionable items. In addition to buying and selling Bullion coins and bars, Mr K also purchases unwanted Gold & Silver Jewellery, recycling or upcycling the recovered materials. The service has three objectives:

To Provide a Welcome Cash Boost For Sellers in Times of Need

It’s surprising how many people have Jewellery they never wear. Some items may have become unfashionable or damaged and lie unused in a seldom-used drawer. Many South Africans are now in debt due to widespread price rises hot on the heels of a national lockdown. Selling unwanted trinkets could help them to cope.

To Add Value

Many people have Gold & Silver Jewellery items of sentimental value they are reluctant to part with or that are not to their taste. Mr K has master craftspeople who can upcycle these, transforming them into more fashionable pieces their owners will be delighted to wear and enjoy.

To Build A More Sustainable Industry

By recovering precious metals, we are reducing dependence on processed ore and the impact of mining technology on the environment and helping to create a more sustainable industry. As natural reserves decline and the cost of mining them increases, we will become more dependent on recycling.

We invite you to learn more about selling or upcycling Gold & Silver Jewellery and how it’s helping to build a greener South Africa.

Disclaimer: The information above was derived from reliable sources and deemed accurate at the time of writing. However, changes following publication may have affected its accuracy. Such changes may occur without notice, and Mr K cannot be held liable for inaccuracies in this article’s content or how a reader may choose to interpret it.