Gold prices are at historic highs in 2025. If you have gold jewellery, coins, or bars sitting in a drawer, this is one of the best times in recent history to sell. But selling gold in Markham — or anywhere — requires knowing a few things to make sure you're getting a fair deal.
This guide walks you through the entire process, step by step, so you walk into Nawaz Jewellers (or any gold buyer in Markham) fully prepared and walk out with the maximum cash possible.
Quick Summary
- Gather all your gold items — jewellery, coins, bars, even broken pieces
- Look for karat stamps (10K, 14K, 18K, 22K, 24K) or 375, 585, 750, 916, 999
- Check the live gold spot price before you go
- Choose a specialist gold buyer, not a pawn shop
- Bring valid photo ID
- Get your free appraisal and walk out with cash the same day
1Gather Everything You Want to Sell
Before you go anywhere, collect all of your gold items. At Nawaz Jewellers we buy gold in any condition — new, old, broken, tangled, or unwanted. Do not throw anything away thinking it has no value. Even a single broken chain or a mismatched earring has real worth based on its gold content.
Here's what to look for around your home:
- ✓Gold jewellery — rings, necklaces, bracelets, earrings, chains, pendants
- ✓Gold coins — Canadian Maple Leaf, American Eagle, Krugerrand, Sovereign
- ✓Gold bars — PAMP Suisse, RCM, TD Bank, Scotiabank, any mint
- ✓Dental gold — crowns, bridges, fillings
- ✓Broken or scrap gold — any karat, any condition
- ✓Old watches with gold cases or bands
- ✓Gold-plated items (note: gold plating has very little value — we test for solid gold)
Pro tip: Don't separate your items by what you think they're worth. Bring everything and let our certified experts assess it. Many customers are surprised by items they thought were worthless.
2Identify the Karat of Your Gold
The karat of your gold is the single biggest factor in determining its value. Higher karat = more pure gold = higher payout. Look for small stamps on your jewellery — usually on the inside of a ring, the clasp of a necklace, or the back of an earring.
| Karat | Purity | Stamp | Common Use |
|---|---|---|---|
| 10K | 41.7% gold | 10K, 417 | Most common in North America |
| 14K | 58.3% gold | 14K, 585 | Most popular for jewellery |
| 18K | 75.0% gold | 18K, 750 | European jewellery, luxury pieces |
| 22K | 91.7% gold | 22K, 916 | Indian & Middle Eastern jewellery |
| 24K | 99.9% gold | 24K, 999 | Coins, bars, investment gold |
Don't worry if you can't find a stamp or can't read it. Our certified team uses professional acid testing and electronic XRF testing equipment to determine the exact gold content of every item — for free, with no obligation to sell.
3Check the Live Gold Spot Price Before You Go
The gold spot price is the current market price for one troy ounce of pure 24K gold, traded globally in real time. All reputable gold buyers in Markham — including Nawaz Jewellers — base their offers on this number.
You can check the live spot price at:
- →Our live price calculator at nawazjewellers.com/prices
- →Kitco.com — the most widely used gold price tracker in Canada
- →The Royal Canadian Mint website
- →Google — search 'gold price today CAD'
Once you know the spot price, you can estimate what your gold is roughly worth using this simple formula:
EXAMPLE CALCULATION
Spot price: $4,500 CAD / troy oz (hypothetical)
Your item: 14K gold ring, weight: 5 grams
1 troy oz = 31.1 grams
Price per gram (24K) = $4,500 ÷ 31.1 = $144.70/g
14K purity factor = 58.3% = 0.583
Price per gram (14K) = $144.70 × 0.583 = $84.35/g
Estimated value = 5g × $84.35 = ~$421.75 CAD
Note: actual payout = a percentage of this. Nawaz Jewellers pays the highest percentage in Markham.
4Choose the Right Gold Buyer in Markham
Not all gold buyers in Markham are equal. The difference between a pawn shop, a mall kiosk, and a specialist precious metals dealer like Nawaz Jewellers can mean hundreds of dollars on the same item.
Pawn Shops
Avoid- •Buy everything — not specialists
- •Typically pay 30–50% of gold value
- •Hidden fees and vague pricing
- •Low transparency
Mall Kiosks
Caution- •High overhead = lower payouts
- •Variable pricing by staff
- •Some are transparent, many aren't
- •Limited expertise
Nawaz Jewellers
Recommended- •Precious metals specialists
- •Pay based on live spot price
- •Fully transparent calculation
- •Highest rates in Markham
5Visit Nawaz Jewellers — What to Expect
Located at 25 Karachi Dr Unit #27, Markham, Ontario, Nawaz Jewellers is open 7 days a week with no appointment needed. Here's exactly what happens when you walk in:
- 1
You arrive
Walk in any time during business hours. No appointment, no waiting for weeks. You're seen right away.
- 2
We test your gold
Our certified experts use professional acid testing or electronic XRF testing to precisely determine the gold content of every single item. You watch the entire process.
- 3
We weigh your items
Everything is weighed on calibrated digital scales in front of you. Total transparency — no hidden deductions.
- 4
We make an offer
We calculate your offer using the live gold spot price, your item's karat, and its weight. We show you the math. No guesswork, no pressure.
- 5
You get paid instantly
Accept the offer and receive your cash immediately. The whole process typically takes 15–30 minutes.
Red Flags to Avoid When Selling Gold in Markham
Most gold buyers in Ontario are legitimate, but some practices are worth watching out for:
Refusing to show you the calculation
Any reputable buyer will show you the math: spot price × purity × weight. If they just name a number with no explanation, walk away.
Testing your gold out of sight
You should be able to watch the testing process. If a buyer takes your gold to a back room to 'assess' it, that's a red flag.
Pressure tactics or time-limited offers
A genuine gold buyer will give you time to decide. "This offer expires in 5 minutes" is a manipulation tactic.
Deducting for 'refining fees' with no explanation
Some buyers advertise high rates but apply deductions afterward. Ask upfront exactly what percentage of spot price you'll receive.
No ID required
Ironically, this is a red flag. Reputable, law-abiding buyers in Ontario require photo ID as required by local regulations.
Frequently Asked Questions
Where is the best place to sell gold in Markham?
Nawaz Jewellers at 25 Karachi Dr Unit #27, Markham is consistently rated the best place to sell gold in Markham. We offer the highest prices based on the live gold spot price, free appraisals, and instant cash payment with full transparency.
How do I know if I'm getting a fair price for my gold in Markham?
A fair price is based on the current live spot price × your gold's karat purity × its weight. Nawaz Jewellers shows you this exact calculation. You can also check the live spot price beforehand at nawazjewellers.com/prices or kitco.com.
Do I need to clean my gold before selling it?
No. Bring it as-is. We test and weigh gold regardless of condition. Cleaning could even damage some pieces.
Can I sell gold without ID in Markham?
In Ontario, reputable gold buyers are required to verify seller identity to comply with regulations. Please bring a valid government-issued photo ID.
How long does it take to sell gold at Nawaz Jewellers?
The entire process — testing, weighing, offer, and payment — typically takes 15 to 30 minutes. No appointment is needed.
Ready to Sell Gold in Markham?
Walk into Nawaz Jewellers — Markham's highest-rated gold buyer — for a free appraisal and instant cash. No appointment needed.
📍 25 Karachi Dr Unit #27, Markham, ON · Open 7 days a week