Selling Gold For Cash In Spain
With the price of gold still high, we reckon it’s not a bad idea to sort out your old broken jewellery or those pieces that are no longer in fashion to sell for cash. With the proliferation of Compro Oro offices in towns and cities all over Spain, it’s good news for sellers as you can compare prices before selling. As well as shopping around, it also makes sense to take a few additional precautions.
First of all go through the items you want to sell and once you’ve got them all together, use a digital kitchen scale to weigh them. Many places that buy gold will be honest and their scales will be correctly calibrated, but you should find out the weight before you leave home just in case. At the end of August a study of Compro Oro stores in Galicia found that 57% were incorrectly calibrated. Scales should have an official “M Verde” sticker (issued by the Centro Español de Metrología – CEM) and the CE stamp, which guarantee that scales are calibrated.
Using a Compro Oro establishment is fine for chains, rings and items that don’t have precious stones. However for pieces of jewellery that have special designs, are quite old or with precious stones you’d be better asking at a jewellers or antique dealer as they will probably offer more than the price you would get at a cash for gold dealers.
Remember that it’s always necessary to show your proof of identity. Dealers are required to inform the Spanish Police of all transactions and to hold on to items for 15 days during which the Police can check for stolen goods. Any Compro Oro office that doesn’t ask for identity means that they probably accept stolen goods and you might be better going elsewhere.
If you want an idea of how much you can get for your gold, visit how much is my gold worth (webpage in Spanish). Just put in the total grams and you’ll get a price.
And if you’re interested in seeing how gold is doing lately, take a look at this graph.