Selling Your Gold: A Practical Walk-Through
If you’ve decided to sell your gold – whether it’s a single ring, an entire bridal set, or accumulated coins from years of gifts – the practical question is ‘how do I do this without getting underpaid?’ This guide walks you through the entire process from initial decision to cash in hand, in order: deciding what to sell, gathering documents, choosing a buyer, what happens at the branch, payment, and post-sale tax compliance. Today’s reference rates: 24K = ₹15,250/g, 22K = ₹13,965/g, 18K = ₹11,438/g.
The single most important takeaway: the entire process at a reputable buyer takes under 30 minutes for most sales, with cash in hand the same day. There is no waiting period, no ‘we’ll call you tomorrow’, no deferred payment. If a buyer asks you to leave your gold and ‘come back tomorrow for payment’, walk away – that is not how reputable buyers operate.
Selling Process at a Glance
| Step | What Happens | Time Required |
| 1. Decision & preparation | Decide what to sell; gather Aadhaar (mandatory) and PAN (if > ₹2L) | 10–30 minutes at home |
| 2. Choose a buyer | Verify ISO 9001 certification, public reviews, and the established branch | Online research |
| 3. Visit the branch | Walk in during business hours; no prior appointment needed | Branch visit |
| 4. Weighing & XRF testing | Calibrated scale + X-ray fluorescence purity test, all visible to you | 5–10 minutes |
| 5. Rate application | IBJA rate applied based on tested purity, deductions itemised | 5 minutes |
| 6. Payment | Cash up to ₹2,00,000 + bank transfer for balance | 5–10 minutes |
| 7. Receipt & exit | Itemised printed receipt; you leave with cash and records | Immediate |
Today’s Live Rate at the Time of Your Sale
The exact cash value you receive depends on today’s IBJA rate, which updates at 12:30 PM and 4:30 PM IST on working days. Reputable buyers apply the latest IBJA rate at the point of sale, and you can verify on ibjarates.com. The widget below shows the current rate that will be applied to your sale at any Attica Gold branch right now.
| 🔧 LIVE RATE WIDGET PLACEHOLDER Embed live IBJA rate widget showing 24K, 22K, 18K and 14K per-gram rate with last-updated timestamp. Include a calculator: user enters their estimated weight and purity, sees gross value before refining margin. |
What to Bring When Selling Your Gold
●Your gold pieces (any quantity, any form – jewellery, coins, bars, broken pieces, even fragments).
●Original Aadhaar card or e-Aadhaar (mandatory for KYC).
●Original PAN card (mandatory if your sale will exceed ₹2,00,000).
●Optional: original purchase invoice (helps with tax computation if your sale crosses LTCG threshold).
Optional: hallmark certificate (if available – though XRF testing measures purity directly regardless).
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What Happens at the Branch – In Detail
When you walk into an Attica Gold branch:
●Reception verifies your KYC and creates a sale record. Aadhaar is mandatory; PAN is required if your sales exceed ₹2,00,000.
●All your pieces are weighed together and individually on a calibrated electronic scale (visible to you with calibration certificate displayed). Total gross weight is noted.
●For stone-set pieces: stones are physically detached or estimated using BIS reference tables; cleaned gold is reweighed.
●Each piece undergoes XRF (X-ray fluorescence) purity testing – a 30-second non-destructive test that measures pure gold percentage. Results displayed on screen instantly.
●Today’s IBJA rate is applied based on tested purity. The buyer shows you ibjarates.com on their screen for verification.
●Refining margin (1–2%) is itemised separately on your receipt – not bundled into a vague ‘discount’.
●Final amount calculated: Weight × Tested Purity × IBJA Rate − Refining Margin = Net Cash to You.
●Payment: cash up to ₹2,00,000 (Section 269ST limit), balance via instant RTGS or NEFT for higher amounts. Same day, no deferred payment.
Tax Treatment After Your Sale
Gold held over 24 months attracts 12.5% LTCG when sold; held under 24 months, your gain is added to slab income. For most household sales (under ₹2,00,000), no tax filing is typically required immediately. For larger sales, the buyer will report the transaction via PAN, and you should declare the gain in your next ITR filing – typically as Capital Gains. Keep your sale receipt, original purchase invoice (if available), and Aadhaar+PAN trail for tax records.
What to Watch For During Your Sale
●Visible weighing – every weighing should happen in front of you on a calibrated scale.
https://en.wikipedia.org/wiki/Karatmeter●XRF testing in your view – modern XRF takes seconds; if a buyer wants to take your gold to a back room for testing, walk away.
●IBJA rate verification – open ibjarates.com on your phone and cross-check the rate the buyer applies.
● Itemised receipt – every deduction (stone weight, refining margin) should be a separate line on the receipt.
●Same-day payment – reputable buyers pay immediately. Deferred payment is a serious red flag.
Why Choose Attica Gold for Your Sale
Attica Gold Company has been buying gold from Indian sellers for over a decade through 200+ branches across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana and Pondicherry – and we are India’s first ISO 9001:2015 certified cash-for-gold buyer. Every transaction at Attica is built around three principles: transparent weighing on calibrated electronic scales (visible to you), in-front-of-you XRF purity testing (no back-room work), and rates benchmarked to the live IBJA reference (no hidden refining margins).
When you walk into Attica with your gold, the entire process – weight verification, XRF purity test, today’s rate application, deduction explanation (if any) and final payment – takes under 30 minutes for most pieces. We pay cash up to ₹2,00,000 (the legal limit under Section 269ST) and the balance via instant bank transfer or RTGS for higher-value sales. No deferred payments, no ‘come back tomorrow’, no pressure tactics. Your wait is over.
Frequently Asked Questions
How do I sell my gold for the best price?
\Three steps: (1) Choose a reputable, ISO 9001 certified buyer (like Attica Gold) instead of small local shops; (2) Verify the IBJA rate the buyer applies; (3) Insist on XRF testing in your view and an itemised receipt with refining margin separately stated. At today’s rates, a typical 22K piece nets you 98–99% of IBJA gross value.
Can I sell my gold online or through an app?
Limited options exist – some platforms accept gold via courier and pay digitally. However, in-person at a verified branch is significantly safer and gets you better rates. Online buyers typically apply higher refining margins (3–5%) due to transit risk, and you cannot verify weighing and testing remotely. Recommend visiting a branch for any meaningful sale.
How much will I get for my gold today?
Use this formula: Weight (g) × Tested Purity (e.g., 0.916 for 22K) × Today’s IBJA rate (₹13,965/g for 22K) × 0.98–0.99 (after refining margin). For 10g 22K: 10 × 0.916 × ₹13,965 × 0.985 = ₹1,26,001 approximately.
Do I need the original receipt to sell my gold?
No, you don’t need the original receipt to sell. The buyer will value your gold based on actual weight and XRF-tested purity. The original receipt only helps with tax computation if your sale crosses the LTCG threshold (typically large sales above ₹2,00,000). For most sales, no receipt is needed
Will I get cash or a bank transfer?
Both. Section 269ST caps cash payment at ₹2,00,000 per transaction. So for sales below ₹2L, you receive 100% cash. For sales above ₹2L, the first ₹2L is cash, balance is via instant bank transfer (RTGS or NEFT). Both happen on the same day at Attica Gold.
Can I sell broken or damaged gold?
Yes – physical condition doesn’t affect resale value at all. Broken chains, cracked pendants, bent earrings, even melted fragments all fetch the same per-gram rate as intact pieces. The buyer values gold content via XRF testing, not appearance
Is selling gold tax-free in India?
Not always. Gold held over 24 months attracts 12.5% LTCG when sold; held under 24 months, your gain is added to slab income. For sales below the threshold or quick, small transactions, no immediate tax may apply, but the gain is technically reportable. Consult a tax professional for sales above ₹2,00,000 or holdings over multiple years.
