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Where can you sell gold in South Africa?

You can sell gold to a specialist gold buyer, a jeweller, a bullion dealer, a pawn shop, or privately through an online marketplace. They differ in price, speed and risk. Here is how each works, and what to check before you hand anything over.

Your options compared

Specialist gold buyers

Good for: Broken, unwanted or scrap jewellery, gold coins and bars. They value an item from its weight, its purity and the gold price, and usually pay by EFT.

Trade-off: Every buyer keeps a margin, and margins differ. The same item can be valued differently by two buyers, so get more than one offer.

Jewellers

Good for: Fine, designer or unusual pieces a jeweller can resell as they are, which can be worth more than the gold in them.

Trade-off: For plain or broken pieces a jeweller may offer little, or offer store credit instead of payment.

Bullion dealers

Good for: Coins, such as Krugerrands, and bars, especially in quantity, where the price follows the gold price closely.

Trade-off: Many do not take jewellery at all, and some only deal above a minimum quantity.

Pawn shops

Good for: Urgent cash, when speed matters more than price. Many will lend against an item or buy it outright.

Trade-off: They usually value an item at less than other buyers do, because they are pricing in risk. A loan against your gold is not a sale: read what happens if you cannot repay it.

Online marketplaces and private buyers

Good for: The chance of a higher price from someone who wants the piece for itself.

Trade-off: The most risk. Payment scams happen, and meeting a stranger with valuable items is a safety risk. Agree to meet somewhere safe, and never release an item before payment has cleared.

Before you choose a buyer: seven checks

  1. 1

    Know what you have

    Look for the purity mark on the piece (for example 9K, 14K, 18K or 22K) and weigh it. Karat is a measure of purity out of 24, so 18K is 75% gold.

  2. 2

    Check the gold price first

    Look up the current gold price per gram before you speak to anyone, so you know what a fair figure looks like.

  3. 3

    Ask how the price is worked out

    A straight answer is weight, times purity, times the gold price, less the buyer’s margin. Be wary of a buyer who will not explain it.

  4. 4

    Have it tested and weighed in front of you

    Your item should not leave your sight. Testing and weighing should happen where you can watch.

  5. 5

    Get the offer before you commit, with no pressure

    A fair buyer lets you decline and walk away with your item. Be wary of anyone who rushes you.

  6. 6

    Compare two or three offers

    Offers for the same item can differ noticeably. A quick comparison is the easiest way to get a better price.

  7. 7

    Ask how and when you will be paid

    An EFT into your own account leaves a record. Be cautious of anything that cannot be traced.

What karat means for your price

Karat measures purity out of 24. The more pure gold in a piece, the more it is worth per gram. The gold price, the weight and the purity together decide the value; our page on how valuations work shows how.

MarkPure gold
9K37.5%
14K58.5%
18K75%
22K91.7%
24K99.9%

Common questions

Does anyone pay the full gold price for my gold?

No buyer pays the full gold price. Every buyer has costs and keeps a margin, and the margin varies. That is why comparing two or three offers is worth the time.

Can I sell broken or unwanted gold jewellery?

Yes. Specialist gold buyers value broken, tangled or mismatched pieces by their gold content, so they do not need to be in good condition.

Should I sell to a jeweller or to a gold buyer?

For fine or designer pieces, ask a jeweller as well, because they may be worth more than their gold. For plain, broken or unwanted pieces, a specialist gold buyer values the gold itself.

What should I bring when I sell?

Your item, and your documents. At Buybackgold.com we verify that you are over the age of 18, with your ID, proof of residence and a bank confirmation letter before any transaction.

How Buybackgold.com works

We are a specialist gold buyer. You get a free indicative price online from the live gold price, then book a visit at a branch or at your address. Your item is tested and weighed in front of you and you receive a final offer. There is no obligation to accept it, and if you do, payment is made by EFT.

We serve Cape Town, Johannesburg, Durban and Pretoria.

See what your gold could be worth

A free, no-obligation estimate in under a minute. Compare it with any other offer you get.

GET MY GOLD VALUATION How selling works
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