Gold Exchange in Nagpur 2026: The Complete Guide
How to exchange old gold for new jewellery in Nagpur, what charges to expect, and how to get the best value. From the team at Londe Jewellers, serving Nagpur for 37 plus years.
Most families in Nagpur own gold jewellery that they no longer wear. Old wedding sets, dated designs, broken chains, mismatched earrings. Exchanging this gold for new jewellery is one of the smartest financial decisions a household can make. The metal value works in your favour as gold rates have appreciated, and you walk out with a fresh design that actually gets worn.
But the gold exchange process is not always transparent. Different jewellers apply different deduction percentages, melting charges, purity tests, and documentation rules. Walk into the wrong store and you can lose 5 to 15 percent of the metal value before you see a single new piece. This guide explains exactly how the process works at Londe Jewellers and across Nagpur, what questions to ask, and how to get full value.
The Two Promises That Make Londe Different in Nagpur
1. Same prevailing rate for both buying and exchange. Most Nagpur jewellers run a hidden margin: a higher purchase rate when you buy from them, and a lower sell rate when you exchange your old gold. The gap is often Rs. 80 to Rs. 200 per gram — that is the dealer spread you pay twice. Londe Jewellers uses one single prevailing rate. The rate at which we sell new 22K gold today is the exact rate at which we credit your old 22K gold today. No separate sell rate. No spread. The same number, both ways.
2. 0% deduction on 22K and 24K gold — even if you bought it from another jeweller. Bring your 22K bridal set, 24K coin or bar, even pieces from Tanishq, Kalyan, PC Jeweller, Joyalukkas, your local family jeweller, or any other shop in or outside Nagpur. We test purity by XRF in your presence, accept the actual karat reading, and apply zero deduction. No melting fee, no refining fee, no wastage charge. You get the full metal value at todays rate.
Worked example: 50 grams of 22K gold at Rs. 13,800 per gram. At Londe = Rs. 6,90,000 credit. At a jeweller charging 10% deduction plus a Rs. 100 per gram sell-rate spread = Rs. 6,16,000 credit. Same gold, same day, Rs. 74,000 difference.
What Is Gold Exchange?
Gold exchange means handing over your old gold jewellery, getting a market valuation, and using that value to buy new gold jewellery from the same store. Unlike a buyback (where you sell for cash), exchange keeps your money in gold form. The store deducts the new piece value from your old gold value and you pay only the difference, plus making charges on the new piece.
For example, if your old gold is valued at Rs. 2,80,000 and the new piece you select costs Rs. 3,50,000 (gold value plus making), you pay only Rs. 70,000 in cash. The exchange route is almost always more economical than selling and re-buying because you avoid two rounds of taxes and margins.
Step by Step: Gold Exchange Process at Londe Jewellers
- Walk in with your old gold. Bring it to any of our four Nagpur stores. No appointment needed but a phone call ahead helps us prepare for higher value items.
- Initial visual check. Our team examines hallmark stamps, design type, and any stones or non gold elements that need separation.
- XRF purity testing in your presence. We use a non destructive XRF spectrometer that reads the metal composition without melting or filing your jewellery. You see the karat reading on screen.
- Weighing on certified digital scale. Calibrated daily. The reading is shown on a customer facing display.
- Valuation at todays gold rate. The current Nagpur rate is locked at the moment of valuation. Check our live gold rate page any time.
- Stone and impurity adjustment. If your piece has diamonds, kundan, or pearls, the gross weight minus the stone allowance gives you the chargeable gold weight. We show this calculation on paper.
- Select your new piece. Browse our 10,000 plus designs across all four stores. The exchange value is credited against the new piece. You pay only the difference plus making charges.
- Documentation and tax invoice. You receive a detailed tax invoice with HUID, weight, purity, rate, and exchange credit. This invoice is required for any future buyback or exchange.
What Affects Your Exchange Value?
Five factors determine the rupee value of your old gold during exchange:
| Factor | How It Works | What To Watch For |
|---|---|---|
| Purity | 22K (91.6 percent), 18K (75 percent), 24K (99.9 percent). Higher karat means higher per gram value. | BIS hallmarked pieces get the stamped purity. Non hallmarked pieces are tested by XRF and the actual reading applies. |
| Weight | Net gold weight after stone and finding deduction. Measured to 0.001 gram on a calibrated scale. | Make sure the weighing is done in front of you. Ask for a tare reading on the scale before weighing. |
| Days gold rate | Locked at the moment of valuation, not at any future point. Our rate is published on our live rate page. | If you exchange in the morning and the rate moves up by 4 PM, you do not get the higher rate retroactively. |
| Deduction percentage | Some jewellers deduct 2 to 10 percent for melting, refining, or wastage. Londe Jewellers applies 0 percent deduction on hallmarked gold. | Always ask the deduction percentage before agreeing to the valuation. Get it in writing. |
| Stones and non gold parts | Diamonds, kundan, pearls, threads are subtracted from gross weight. Only net gold is paid for. | Diamonds in old jewellery have a separate value. Ask if the jeweller will exchange the stones too. |
The 0% Deduction Policy on 22K and 24K Gold
This is the single biggest factor in how much you walk away with. Many Nagpur jewellers quote a deduction of 5 to 20 percent on the metal value, claiming it covers melting and refining loss. On a 50 gram exchange that is up to 10 grams of gold lost before any purity adjustment. At todays Nagpur rate of around Rs. 13,800 per gram for 22K, that is about Rs. 1,38,000 deducted from your exchange value before you even get to the new piece.
Londe Jewellers applies 0% deduction on 22K and 24K gold, no matter where you originally bought it. Whether your gold came from Londe, from Tanishq, Kalyan, Malabar, PC Jeweller, a family jeweller in Nagpur, or any showroom anywhere in India — we accept it at full value. The XRF reading on screen is the karat we credit. There is no melting fee, no refining fee, no handling fee, no wastage charge.
Lower purity gold (18K, 14K, 9K, or non hallmarked older pieces) is tested by XRF in your presence and credited at the actual purity reading, again with no additional deduction.
| Gold You Bring | Bought From | Londe Deduction | Typical Other Nagpur Jeweller |
|---|---|---|---|
| BIS hallmarked 22K jewellery | Any jeweller in India | 0% | 5 to 12% deduction + sell-rate spread |
| 24K gold coin or bar | Bank, MMTC, jeweller, online | 0% | 3 to 8% deduction + sell-rate spread |
| Non hallmarked old 22K | Family heirloom, old jeweller | 0% at tested purity | 10 to 20% deduction + spread |
| 18K, 14K, lower karat | Anywhere | Tested purity, 0% extra deduction | Often re-rated lower + 10%+ deduction |
Same Rate for Buy and Sell — The Hidden Trick Most Customers Miss
If you have ever exchanged gold and felt the credit looked low, the deduction percentage might not be the only reason. Many Nagpur jewellers keep two separate gold rates running at the same time:
- A purchase rate (the price they charge you when you buy new gold from them).
- A sell rate (the price they credit when you sell or exchange your old gold to them).
The gap between these two rates is usually Rs. 80 to Rs. 200 per gram on 22K. On a 100 gram exchange that is Rs. 8,000 to Rs. 20,000 quietly removed from your value — and it never appears as a line item because the jeweller simply quotes you the lower number. This is on top of any percentage deduction.
Londe Jewellers does not run a separate sell rate. The same prevailing Nagpur rate that we display for new 22K and 24K gold purchases is the exact rate at which we credit your exchange or buyback. One rate, both directions, for every customer. Our daily rate is published on the live gold rate page and locked at the moment we begin your valuation at the counter.
This is why two customers can bring identical gold to two different Nagpur showrooms on the same morning and walk out with very different amounts. The deduction percentage is what you ask about — the rate spread is what nobody tells you about.
Worked Example: 100 Grams of Old 22K Gold
Lets compare what the same 100 grams of BIS hallmarked 22K gold would fetch on a typical Nagpur exchange day at Rs. 13,800 per gram (24K equivalent: Rs. 15,055).
| Step | Londe Jewellers | Typical Other Nagpur Jeweller |
|---|---|---|
| Quoted 22K rate (what they tell you) | Rs. 13,800/g (same as buy rate) | Rs. 13,650/g (Rs. 150 lower than their buy rate) |
| Gross value, 100g | Rs. 13,80,000 | Rs. 13,65,000 |
| Deduction | 0% — Rs. 0 | 10% — Rs. 1,36,500 |
| Credit you actually receive | Rs. 13,80,000 | Rs. 12,28,500 |
| Difference in your favour | Rs. 1,51,500 more at Londe Jewellers | |
This is the same gold, the same day, the same Nagpur city. The only thing different is the policy of the jeweller standing across the counter.
Documents You Need for Gold Exchange in Nagpur
- PAN card for any single transaction above Rs. 2 lakh (income tax rule).
- Aadhaar card for KYC, especially if the value crosses Rs. 50,000.
- Original tax invoice if available. Not mandatory but it speeds up the purity confirmation and may waive any non hallmark testing fee.
- Photo identification for high value exchanges. Drivers licence or passport works.
You do not need to bring a stack of documents for a routine exchange under Rs. 2 lakh. Walk in with the gold and your phone (UPI for paying the difference) and the process can be completed in 25 to 40 minutes.
Hallmarked vs Non Hallmarked Gold: What Changes
Since June 2021 BIS hallmarking is mandatory for all new gold jewellery sold in India. But most family heirlooms predate this rule. Here is how each is treated during exchange:
| Type | Treatment at Londe Jewellers |
|---|---|
| BIS hallmarked 22K or 24K | Stamped purity is credited. 0% deduction. Quickest valuation. Same rate as our buy rate. |
| Non hallmarked 22K or 24K | XRF tested in your presence. Actual reading is credited. Still 0% deduction at Londe. |
| BIS hallmarked 18K | Stamped purity is credited at 75% gold content. 0% deduction. |
| Lower karat (14K, 9K) or impure pieces | Tested at actual karat. Adjusted to that purity. May need fire assay for very old or doubtful pieces. |
| Gold plated or rolled gold | Not eligible for exchange as gold. The base metal has minimal value. |
Read our detailed gold purity guide to understand karat differences and how to read a hallmark.
Gold Exchange vs Buyback vs Cash Sale: Which is Best?
Three different transactions, three different outcomes:
| Option | What You Get | Best When |
|---|---|---|
| Gold Exchange | New jewellery worth your old gold value plus the difference you pay. | You want a fresh design and your old piece is dated, broken, or unworn. |
| Jeweller Buyback | Cash at the days gold rate from the original jeweller. Original invoice usually required. | You bought from us and want the original purchase value back. We honour our buyback policy at full days rate for hallmarked pieces. |
| Cash Sale to Bullion Dealer | Cash at slightly below market rate (3 to 6 percent margin to dealer). | You urgently need cash, not jewellery. Slowest growth long term. |
Common Mistakes That Reduce Your Exchange Value
- Not asking the deduction percentage upfront. Always ask before the valuation begins. Get it in writing on the valuation slip.
- Cleaning or polishing old gold before bringing it in. Aggressive cleaning can remove micro grams of gold. Bring it as is.
- Letting the jeweller take the gold to the back room. All weighing, testing, and valuation should happen in front of you. We do this as standard at all four Londe stores.
- Not comparing rates the same day. Gold rates fluctuate daily. Get a quote from one store, then check another store the same day.
- Forgetting the original invoice. If you have it, bring it. It speeds up purity confirmation and may waive non hallmark testing.
- Mixing hallmarked and non hallmarked pieces. Ask the jeweller to weigh and test them separately so the credit is transparent.
Why Londe Jewellers Is the Right Choice for Gold Exchange in Nagpur
- 0% deduction on 22K and 24K gold — even on jewellery bought from any other jeweller, anywhere.
- Same prevailing rate for buying and exchange. No separate sell rate. No hidden Rs. 100 to Rs. 200 per gram spread.
- XRF testing in your presence. See the actual karat reading on screen before any value is locked.
- Live gold rate. Published daily on our website and matched exactly at the counter.
- 10,000 plus designs across four Nagpur stores — bridal, daily wear, modern, traditional, diamond, platinum.
- 37 plus years serving Nagpur and Vidarbha. Trusted by 2,00,000 plus families.
- Detailed tax invoice with HUID, weight, purity, days rate, and exchange credit clearly itemised.
- Walk in welcome. No appointment needed for exchange. Coffee and chair provided.
Visit Any of Our Four Nagpur Stores
Manish Nagar Main Road, Near Shanti Park, Beltarodi Road, Nagpur 440037
Phone: +91 80101 48427
Tiranga Square Road, Opposite Axis Bank, Azamshah Layout, Nagpur 440024
Phone: +91 84460 90383
Frequently Asked Questions
How much gold can I exchange at one time?
There is no upper limit at Londe Jewellers. For transactions above Rs. 2 lakh you will need to provide PAN as per income tax rules.
Do I need the original invoice to exchange gold?
Not always. The original invoice is required for buyback (selling back to the original jeweller for cash). For exchange against new jewellery the invoice is helpful but not mandatory. We will test purity by XRF if no invoice is available.
Can I exchange gold bought from Tanishq, Kalyan, or any other jeweller?
Yes — at 0% deduction on 22K and 24K. Gold purity is universal and the BIS hallmark is recognised everywhere. Whether your jewellery is from Tanishq, Kalyan, Malabar, PC Jeweller, Joyalukkas, your local family jeweller in Nagpur, or any showroom inside or outside India, we accept it at the actual XRF tested purity. Same 0% deduction policy applies.
What is the deduction for gold exchange at Londe Jewellers?
0% deduction on 22K and 24K gold, regardless of where it was originally bought. Lower karat gold (18K, 14K, etc.) is tested by XRF in your presence and credited at its actual gold content with no additional wastage or refining deduction.
Do you have a separate buy rate and sell rate for gold?
No. Londe Jewellers uses one single prevailing Nagpur rate for both new gold purchases and exchange credit. The rate at which we sell new 22K or 24K gold today is the exact rate at which we credit your old 22K or 24K gold today. Most other Nagpur jewellers run a Rs. 100 to Rs. 200 per gram spread between their buy and sell rates — that hidden margin does not exist at Londe.
How is the gold rate calculated for exchange?
The Nagpur gold rate of the day is locked at the moment of valuation. Our rate is published on the live gold rate page and matched at the store counter — no separate sell rate, no spread.
Will I lose value if my old gold is not BIS hallmarked?
No. We test non hallmarked gold by XRF spectrometer in your presence. The actual purity reading is what we credit you for — and we still apply 0% deduction on 22K and 24K results. Only very impure or plated pieces (below 9K, or rolled gold) get rated lower because the gold content itself is lower.
How long does the gold exchange process take?
For routine exchanges under Rs. 2 lakh the full process from XRF test to invoice typically takes 25 to 40 minutes. For larger or more complex exchanges, allow up to one hour.
Can I exchange gold for diamond or platinum jewellery?
Yes. The gold value is credited regardless of what new piece you select. Bridal sets, diamond rings, mangalsutras, platinum bands, all are eligible against gold exchange credit.
What if I have gold with diamonds or stones?
The stones are valued separately. The gross weight is reduced by a certified stone allowance to give the net chargeable gold. We show this calculation on paper before agreeing.
Is gold exchange taxable?
The exchange itself is not taxed because no cash transaction occurs in your favour. GST applies on the new jewellery you take home (3 percent on gold value plus making charges). Capital gains tax may apply if you sell for cash and the original purchase was within three years.
This guide is updated for May 2026. Gold rates and exchange policies may change. Visit any of our four Nagpur stores or call +91 84460 90383 for the most current rate.
Related guides: Gold Purity Guide | Buying Gold Jewellery in Nagpur | Gold SIP Guide | Wedding Jewellery Budget Guide