How to Sell Gold Jewellery in Toronto: A Complete Step-by-Step Guide

Selling gold jewellery in Toronto is not complicated, but it is easy to do badly. The difference between a good outcome and a disappointing one usually comes down to preparation and to whether you can see what the buyer is doing. This guide walks through the whole process from the drawer at home to the cash in your hand.

Step 1: Gather everything, including the broken pieces

Most people underestimate how much gold they actually own because they only think of the pieces they still wear. Empty the jewellery box completely. Check coat pockets, old handbags, dresser drawers, the back of the safe and any envelopes tucked into a filing cabinet.

• Chains and necklaces, including tangled ones you never untangled
• Rings, including bands that no longer fit
• Single earrings whose partner disappeared years ago
• Bangles and bracelets, bent or otherwise
• Pendants, charms, brooches, tie clips and cufflinks
• Dental gold, gold coins and small bars

Damage does not matter. A snapped chain weighs the same as an intact one. What matters is karat and weight, not whether the clasp still works.

Step 2: Separate what might be worth more than its metal

Some jewellery is worth more as jewellery than as gold. Signed pieces from recognised makers, antique settings, and items with significant gemstones can carry a resale premium. Set those aside so they get a second look rather than being weighed with the scrap.

A reputable buyer will flag these for you unprompted. At our counter we look for maker's marks, hallmarks and period construction before anything is treated as melt.

Step 3: Understand karat before you walk in

Karat measures how much of an alloy is pure gold. 24k is pure; 18k is 75 percent gold; 14k is 58.3 percent; 10k is 41.7 percent. A 20-gram 10k chain and a 20-gram 22k chain weigh the same and look similar to an untrained eye, but they contain very different amounts of gold.

That is why any buyer who weighs a mixed pile all at once and quotes a single number is doing you a disservice. Karat groups have to be sorted, tested and weighed separately.

Step 4: Bring photo ID

Ontario's second-hand dealer regulations require buyers to record seller identification. Bring a valid government-issued photo ID such as a driver's licence, passport or Ontario photo card. A shop that does not ask for ID is not following the rules, which tells you something about how it operates generally.

Step 5: Watch the test

A proper karat test takes seconds. The buyer rubs the piece on a testing stone and applies graded acid solutions; the way the streak reacts identifies the karat. Some shops also use XRF analysers. Either way, you should be able to see it happen.

If your jewellery is taken into a back room, out of view, that is a warning sign. There is no legitimate reason for it.

Step 6: Watch the scale

Gold is bought by weight, usually in grams. Ask to see the display. Ask what karat group is being weighed. A trustworthy counter will narrate this without being asked, because a customer who understands the numbers is a customer who comes back.

Step 7: Compare offers the right way

If you want to shop around, compare on a per-gram, per-karat basis rather than the headline total. Two offers on the same lot are only comparable if both buyers agreed on the same karat and the same weight.

1. Note the karat each buyer assigned to each group
2. Note the weight each buyer recorded for that group
3. Compare the total for the same karat and weight, not the overall bag
4. Factor in whether any buyer deducts fees, testing charges or 'refining' costs

A free, no-obligation evaluation means you can get a real number from more than one shop without spending anything but time.

Step 8: Take your time

No honest buyer will pressure you to decide on the spot. If you feel rushed, that is information. Take the number home, think about it and come back if it still makes sense. Gold does not spoil.

Selling in Toronto, practically speaking

AGN The Gold Jewellery Buyer is a walk-in shop at 1646 Victoria Park Avenue in North York, open Monday to Friday from 12pm to 7pm and Saturday from 12pm to 5pm. Evaluations are free, everything happens on the counter in front of you, and payment is cash the same visit. We do not publish live rates because a rate is meaningless until your specific pieces have been tested and weighed. Call (416) 551-6400 with any question before you come in.