Aussies are selling their old jewellery as gold prices continue to soar
As gold prices continue to surge to record highs, Australians are starting to cash in, selling old jewellery to make quick money.
However, with such expensive valuables, experts warn it's important to know who you're trading with.
Loralie Bodle brought a box of unwanted valuables to her local jeweller, hoping to be sitting on a gold mine.
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The rise in gold prices has resulted in a second gold rush. Nine
"I was thinking maybe it's time to go in and find out what it's worth," she said.
The 143 grams of gold Loralie brought in were valued at $10,000 on the spot.
"I really didn't think that it was going to be that much," she said.
The value of gold has doubled since 2023, causing a gold rush as customers bring their old rings, bracelets and watches into jewellers to find out if they're worth anything.
"It can be broken, knotted, tangled. It can be in any kind of condition," Imperial Jewellery valuer Judi Hening said.
"We have even had people's teeth."
Specialist gold buyers have outlets nationwide, mostly with no appointments needed, with cash or bank transfers done in minutes.
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Customers are always advised to compare offers before settling on a deal. Nine
"It's had an extraordinary rise in 2025, really building on strength that we saw coming out of the pandemic," ABC Bullion general manager Jordan Eliseo said.
Customers are always advised to compare offers before settling on a deal.
"Making sure you're dealing with a reputable, trustworthy company that has hopefully been in business for many years," Eliseo said.
Professional companies rely on tools such as X-ray machines or acid testing to determine the carats of the gold.
"Everything goes under the microscope to make sure it is what it looks like," Henning said.
Jewellers also advise people to ensure they're checking with family members before selling items that could potentially hold sentimental value.
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