How to sell old gold without a bill — and still get a fair price

Almost every family has that box: a broken chain, a worn bangle, a coin from a wedding nobody remembers gifting. The original bill vanished with it. The single most common question we get on WhatsApp is some version of — "no bill hai, chalega?" Yes. It legally and practically can.

Is it legal to sell gold without the bill?

Yes. Indian dealers may buy gold from individuals without the purchase invoice, subject to KYC (PAN for higher values) and record-keeping. Reputable buyers — bullion jewellers and refiners — follow the same anti-money-laundering rules as any dealer: they document the seller, not the jewellery’s birth certificate.

What decides your price (in order of impact)

1. Purity, measured not assumed. A karatmeter or fire-assay decides if that "22K" chain is really 21.6K. That single number moves your price more than everything else combined.
2. Live bullion rate. Gold is a traded commodity; the rate at 10 AM is not the rate at 8 PM. Any quote should reference the day’s rate, visibly.
3. Wastage / melting deduction. Old soldered jewellery carries other metals at the joins; expect a disclosed melting % — but insist it is disclosed, not buried in the headline "rate per gram".
4. Gemstones. Stones are usually discounted to near zero unless heavy and priced separately. Set expectations.

Red flags at any buyer

• A headline rate above the market, then mysterious deductions at weighing.
• No printed breakup, no KYC record, cash-only "special" offers.
• Testing done out of your sight, or an acid test that shaves metal before you agree a rate.
• Price changed after you said yes, "because the market just moved" — markets move on minutes, not your consent.

The clean way, step by step

1. Share photos and rough weight on WhatsApp.
2. Walk in — or get a doorstep visit — and watch the karatmeter test.
3. Read the printed quote: live rate × measured purity − disclosed wastage.
4. Accept, and take UPI payment on the spot, with a purchase record that becomes your bill for the next owner.

Rule of thumb: if the buyer explains the maths before the weight, you have found the right buyer.

PMJ GOLD buys household gold at transparent market-linked rates with on-the-spot UPI payment. Request today’s price →