Considered a safe haven, gold is often kept and passed down from generation to generation, especially when it comes to family jewelry, coins, and ingots. Selling your gold, however, allows you to clear your drawers of broken jewelry, debris, and coins with no sentimental value, with the prospect of fetching a good price. Specialists in second-hand jewelry and 18-karat gold items, Gemme Jewelers advises you on how to sell your gold at the best price.
Is this the right time?
In times of crisis, many French people are interested in selling gold. However, the current period is precisely favorable on two levels: first, the market for the sale of second-hand rings and other second-hand jewelry is thriving, driven by the economic situation and the vintage trend. On the other hand, the price of gold is historically high.
To make a good profit on the sale of your gold jewelry or gold coins, it is important to find out the price per kilo of gold, which varies from day to day, month to month, and year to year.
Between 2019 and 2024, it has steadily increased, from €37,000 to €60,000, an increase of more than 60%.
Find out in advance the resale prices of similar jewelry
To better sell your gold, it is important to be able to assess the value of the jewelry and coins you own in advance. This will protect you from pitfalls and disappointments.
For antique coins, you can contact a numismatics specialist or an auction house.
For rings, bracelets, and necklaces, it is possible to obtain an initial jewelry valuation online, ideally to have it confirmed in-store.
To be certain that your jewelry is gold, you can also check for the presence of hallmarks yourself: the eagle's head for 18-karat gold, the wolf's or dog's head for platinum.
Finally, remember to include the buyer's margin and taxes in your valuation. State-owned companies.
Who are the most reliable players, and how can you identify reliable ones from unreliable ones? Pitfalls to avoid?
Identifying reliable buyers
A few clues can reassure you about the seriousness of your buyer:
- Clear display of buyback rates
- Signing the remote gold buyback charter in the case of an online service provider
- The gold is weighed in front of you in the store. The "18-karat gold" label is indicated on the invoice
Beware of less reliable buyers
To protect yourself from scams, it is best to avoid:
- Selling gold from private individuals
- Selling gold to service providers who prospect in mailboxes
- Claims of tax-free gold buybacks abroad: you remain subject to French taxation, even if you sell in Belgium!
- No gold trading post is authorized to buy gold with cash payment. Only a crossed check in the seller's name or a bank transfer are permitted.
Negotiation as a central element in the pursuit of profit
The London Stock Exchange's gold quotation sets the prices of ingots, bars, and certain coins such as the Napoleonic Francs. The purchase price of gold jewelry, dental gold, and gold scrap can therefore fluctuate not only based on the price of gold, but also on other factors: whether gold is intended for melting down or jewelry that can be resold second-hand, the quality of the piece (from B to SPL depending on its condition), or even the composition of the alloy in the dental gold scrap.
It is therefore worth comparing the prices and purchase conditions of several stores, or even playing the competition. In the case of a piece of jewelry, such as an antique 18-karat gold ring, you will have to make the most profitable choice: sell the ring as jewelry or sell it for its weight in gold. By going to a traditional jewelry store, your damaged ring will be purchased at a very low price. By going to a gold counter, you may be getting a bad deal because your ring won't be recognized for its jewelry qualities.
Gemme Jewelry Store, specializing in antique jewelry, gemstone appraisals, and gold purchases, will appraise your ring from a dual perspective: our jewelers will be able to tell you if your ring is of interest from a jewelry perspective and therefore worth buying as a second-hand piece, or if you should instead consider selling it for its gold. For gold coin purchases in Lyon, Les Bijouteries Gemme appraises your pieces based on the price of gold and their condition.
In Beaujolais, our Gemme Gold buyback for gold and jewelry purchases in Villefranche-sur-Saône also welcomes you without an appointment.
Learn more about gold taxation: taxation on possession, on the sale and repurchase of gold, and on inheritance.
Value white gold and rose gold: prices, rates and buyback