At times, it is highly possible that you are not using your gold jewellery and are in need of emergency cash. Sometimes, your gold jewellery is broken and you would like to sell the same.
At such times, it is advisable to sell your gold jewellery for cash and these days selling has become very professional with hi-tech machines to check the purity of gold and arrive at a fair valuation.
There are a number of places, where you can sell gold for cash in India. Here we are not talking of the jewellers, some of who would pay cash for gold jewellery, but, more of companies, who offer cash for jewellery.
Attica Gold Company
Attica Gold Company has a solid presence in South India, through 100 plus cities in 5 different states of India.
Procedure to sell gold through Attica:
It is important that you bring your original bill of the ornaments (not always necessary), along with a valid ID proof and residence proof.
The company then proceeds to check the purity of gold, and weight through a German-made machine. What's most important in following the process is that the company does not break the gold jewellery. The company notifies the details through a complete print-put and if the customer is happy with the valuation, he can proceed to sell the gold for cash. Attica charges around 3 per cent for its services.
D gold is another place, where you can sell gold for cash. Again, if you have broken pieces of jewellery or old jewellery to sell, it may not be a bad idea to do so. The process is not too different from that highlighted above.
The one drawback of selling gold for cash is that you have to visit the branch. This is because of an evaluation that needs to be done, particularly with regards to the quality of the metal. It is important to remember that when you sell physical gold, capital gains tax would apply, so you need to understand the taxation aspect after you have sold the gold for cash and show them in your tax returns accordingly.