Short answer: before selling used gold in Egypt, work out its value yourself (weight × today's price per gram for its karat), then show the piece to more than one jeweller and compare their offers with that value. The difference between the metal value and an offer is the dealer's deduction; the smaller it is, the better the offer. Live prices per karat are on our gold price in Egypt page. For a general, non-country-specific guide, see how to sell gold jewelry.
Step 1: Know the weight and karat
Find the original invoice if you have it and check the hallmark on the piece to confirm the karat. Without an invoice, the shop will weigh the piece in front of you.
Step 2: Calculate the metal value
Metal value = weight in grams × today's price per gram for that karat. You can use our gold calculator.
Illustrative example only: a 12-gram 21K chain with 21K at 4,000 pounds per gram has a metal value of about 48,000 pounds.
Step 3: Know what will be deducted
- Making charge: normally not refunded when you sell.
- Dealer deduction: many shops deduct a small amount per gram from the day's price; it varies between shops.
- Stones: their weight may be subtracted, since they are not gold.
Step 4: Compare several shops
Ask at least two or three jewellers for the final amount you will receive, then compare each offer with your calculated metal value. The offer closest to it is the best.
Sell or exchange?
Some shops offer to exchange old pieces for new ones. Work out both sides separately: what you get for the old piece and what you pay for the new one (gold price plus making charge). Sometimes the exchange is fair; sometimes selling and buying elsewhere is cheaper.
Common mistakes to avoid
- Selling without checking the day's price: it changes daily, so check before you leave home.
- Accepting the first offer: comparing can make a noticeable difference.
- Not watching the weighing: ask for the piece to be weighed in front of you.
- Selling to unknown buyers: use established shops and get a receipt.
Frequently asked questions
Is the buying price different from the selling price on the same day?
Yes. Shops buy slightly below their selling price, and the making charge is not refunded.
Is broken gold worth less?
Gold is valued by weight and karat, so a broken piece is worth about the same metal value, although deductions can vary between shops.
When is the best time to sell?
Nobody can predict prices reliably. Sell when you actually need to, and compare offers on the same day.
This article is general information, not financial or investment advice. See our disclaimer.