Which Jeweller in Banaglore will give me money if I sell gold coins to them?

Question

The reputed jewellers in Blore, exchane gold for gold coins but do not give money for gold coins. Which jeweller in Blore will give me money for gold coins? IS there any jeweller in Blore from whom I can buy gold coins now and after a year or so exchange them for money?

Answer 1

Friend,

You have to remember one thing is, whenever buy gold, you should ask the certificate of purity from the jewelery or the bill which showing th purity of the gold coin. Once you present the same, anyone will give you the money or exchange the same with.

You might have not present the same and that is the reason they are not willing to give gold against your coin.

Does this make sense

Answer 2

I assume you got the coins from a bank for investment purpose. Fact is, banks will sell you coins but won't take them back. Jewelers too may hesitate. It's best to contact your bank if they know any places that will buy back those coins. Alternatively, you can turn your gold coins into some basic jewelry like a ring or so, and then try to sell them to jewelers. That way, there won't be a problem.

The best way to invest in gold is through electronic means. You might have Gold exchange Traded Funds in your country where you can invest in gold in 'demat' form. That way you won't lose on margin money (10% less or so) when you sell back the gold you bought. Hope this helps.

Answer 3

Go for the traditional Jewellers or the Jewellery Showrooms (not the corporate ones) and they will sort u out.

Answer 4

If you have obtained the gold coins from the Banks, then you can remit them at the Banks itself, who can give you the equivalent money for it.