Yes, you can easily sell both gold coins and gold jewellery in Madurai, and it is a very common practice. Madurai has a well-established gold market with numerous jewelry showrooms, old-gold buyers, and specialized gold purchasing centers that accept gold coins, ornaments, and even broken or old jewellery.
Whether you want to sell gold due to financial needs, unused assets, or price advantage, Madurai offers multiple safe and legal options. This detailed guide explains what types of gold are accepted, how the process works, differences between selling coins and jewellery, pricing factors, and important precautions.
sell my old gold madurai
Why Selling Gold Is Common in Madurai
Madurai is one of Tamil Nadu’s major trading and cultural centers. Gold plays a central role in:
Weddings and family functions
Long-term savings
Inherited wealth
Because of this, the city has a high demand for old gold, making it easier for sellers to find buyers and receive competitive prices.
Types of Gold You Can Sell in Madurai
Gold buyers in Madurai generally accept the following:
Gold Jewellery
Chains, bangles, rings, necklaces
Wedding and bridal jewellery
Broken or damaged ornaments
Antique or old-fashioned designs
Gold Coins
24K gold coins
22K gold coins
Coins issued by jewelry brands
Coins without brand marking (subject to testing)
Both jewellery and coins are commonly traded, but valuation methods differ slightly.
Can You Sell Gold Jewellery in Madurai?
Yes, gold jewellery is the most frequently sold form of gold in Madurai.
Most buyers accept:
22K gold jewellery (most common in India)
18K gold jewellery (designer or modern pieces)
Jewellery without purchase bills
Inherited or gifted ornaments
Condition does not matter—even broken or twisted jewellery has the same value based on purity and weight.
Can You Sell Gold Coins in Madurai?
Yes, gold coins are also accepted, especially:
Coins bought from jewelry stores
Plain gold coins without stones
Coins with clear purity markings (22K or 24K)
Gold coins are often preferred by buyers because:
They usually have higher purity
No stone or wastage deduction applies
Valuation is simpler and faster
However, some buyers may not accept imported or uncertified coins, so testing is essential.
Difference Between Selling Gold Coins and Jewellery
| Aspect | Gold Jewellery | Gold Coins |
|---|---|---|
| Common Purity | 22K / 18K | 24K / 22K |
| Stone Deduction | Yes (if stones present) | No |
| Melting Charges | Sometimes applicable | Usually minimal or none |
| Valuation Time | Slightly longer | Faster |
| Value Retention | Slightly lower | Higher |
In general, gold coins fetch better per-gram value compared to jewellery.
How Is Gold Valued When You Sell It?
The final value depends on:
Purity (Karat Value)
Determined using XRF machines or karat meters.Net Gold Weight
Weight after removing stones, beads, or non-gold materials.Current Day Gold Rate
Usually based on 24K gold price and adjusted for purity.Deductions (If Any)
Stone weight
Minor refining charges (varies by buyer)
Transparent buyers will show you each step clearly.
Is a Purchase Bill Required to Sell Gold?
No. In most cases, you can sell gold coins and jewellery without a bill in Madurai.
Buyers usually require:
Valid government ID proof
Seller’s consent for purity testing
Lack of a bill does not reduce gold value if purity and weight are confirmed.
Can I Get Instant Cash for Gold Coins and Jewellery?
Yes. Many buyers offer:
Instant cash (within legal limits)
Same-day bank transfer
Immediate valuation and payment
The entire process typically takes 15–30 minutes.
For high-value sales, payment is usually made through bank transfer for safety and compliance.
Are There Any Legal Restrictions?
Selling gold is legal, but some rules apply:
PAN card may be required for large transactions
Cash payment limits are regulated
Buyer must be licensed or registered
Reputed buyers in Madurai follow these norms strictly.
Do Buyers Deduct Charges When Selling Gold?
Possible deductions include:
Stone or bead weight
Minor melting or refining charges
Purity adjustment
However, many professional buyers now offer:
Zero melting charges
No hidden deductions
Transparent calculation sheets
Always ask for a clear breakup before agreeing.
Is It Safe to Sell Gold in Madurai?
Yes, Madurai is considered a safe and competitive market for gold sellers. To ensure safety:
Choose reputed shops or buyers
Avoid unverified street buyers
Watch the weighing and testing process
Do not feel pressured to sell immediately
A trustworthy buyer will allow you to take your time.
Best Time to Sell Gold in Madurai
Gold prices change daily. To maximize returns:
Monitor gold rates for a few days
Sell when prices are stable or rising
Avoid panic selling unless necessary
Even small price differences matter for higher weights.
Common Myths About Selling Gold Coins and Jewellery
Myth: Coins always sell at full market price
Reality: Purity still matters
Myth: Old jewellery has less value
Reality: Value depends on gold content, not design
Myth: No bill means lower price
Reality: Bills are not mandatory
Tips to Get the Best Value When Selling Gold
Know today’s gold rate
Understand your gold’s karat value
Compare at least 2 buyers
Ask questions—transparent buyers welcome them
Never rush into a deal
Can I Sell Gold Coins and Jewellery in Madurai?
Yes, you can confidently sell both gold coins and gold jewellery in Madurai. The city offers a strong gold-buying ecosystem with transparent valuation, quick payments, and multiple buyer options. Whether it’s coins, old ornaments, broken jewellery, or inherited gold, you can convert it into cash safely and legally—provided you choose the right buyer and stay informed.
Do Buyers Prefer Gold Coins or Jewellery?
Most buyers in Madurai accept both, but preferences vary:
Gold coins are often preferred because they:
Have higher purity (usually 24K)
Do not include stones or wastage
Require minimal refining
Gold jewellery is more commonly sold because:
Households own more jewellery than coins
Old or broken ornaments are easier to liquidate
Wedding and inherited jewellery often remains unused
Despite preferences, buyers will never reject genuine gold based on form alone.
What Purity Levels Are Accepted for Coins and Jewellery?
Gold buyers in Madurai typically accept:
24K gold – Coins and bars
22K gold – Most Indian jewellery
18K gold – Designer or lightweight jewellery
Lower-purity gold (below 18K) may still be accepted, but:
Value will be significantly lower
Fewer buyers may deal in it
Additional testing may be required
Are Branded Gold Coins Easier to Sell?
Yes, branded gold coins generally:
Have clearer purity markings
Require less verification time
Are trusted more by buyers
However, unbranded or old gold coins are also accepted after proper testing. Branding mainly affects speed and convenience, not legality.