Giltfree allows you to turn old jewellery into cash

A savvy Brisbane entrepreneur owner has come up with an “world-first” way for you to turn old and unwanted jewellery into cash. FIND OUT HOW.

Jewellery diva Jessy Cameron has hit on a golden opportunity to help people turn trash into cash.

During COVID, Ms Cameron’s Molten Store in Fortitude Valley was inundated with customers eager to sell unworn or unwanted gold pieces.

“When other retailers were having fire sales, we just had so much money coming in from (buying) other people’s jewellery,” Ms Cameron, 34, said.

The savvy entrepreneur reached out to rich-lister Cathie Reid – who with husband Stuart Giles is reported to be worth $550m – and on Friday they will launch Giltfree EFTPOS gift cards, allowing customers to swap their jewellery for its gold value.

“People can make thousands of dollars, including from things they think are junk, and use the money any way they want,” Ms Cameron said.

Jessy Cameron with gold jewellery at her new business, Giltfree. Picture: Peter Wallis

Ms Reid said Giltfree was a “world-first circulatory initiative” and an alternative to going into debt with credit cards or buy-now, pay-later services.

“We unlock around $80,000 for every kilogram of pure gold we recycle, so it’s immensely rewarding for the customer,” she said.

Unlike other gold buy-and-sell businesses, Giltfree sends pieces away for independent testing (by Meld) and customers receive a certificate of value.

“You receive an offer and it’s no skin off our nose if you don’t accept it,” Ms Cameron said.

“It’s a very different process to standing in front of someone in a buy-and-sell store and haggling over price or being forced to accept an unfair deal.”

While Ms Cameron and business partner Michael Cotton had previously melted customers’ gold jewellery, the dollar value had to be spent in Molten Store.

“It wasn’t a huge focus of our business but after COVID, we were trying to find pivot points and realised it had snowballed,” she said.

“We knew it had a far bigger application and sought backers.”

Giltfree, which makes $5-$15 from every gram recycled, opened a pop-up shop in Indooroopilly Shopping Centre and it will run until at least the end of January.

The service will also be available online.