Busy trade at Gold sale in Ballyhaunis as value of the precious metal soars
Global economic uncertainty and the higher cost of living are driving people to sell their old gold, according to gold buyer Shane Crossan, who travels to Ballyhaunis from Donegal every few months to buy the precious metal.
A jeweller with his own family store in Buncrana, Shane rents a room at the Community Hall in Ballyhaunis every few months. This month was the second time he’s been in Ballyhaunis and trade is good.
“They come from all over the region to Ballyhaunis with pieces of gold to sell. The price of gold is high. But everyone has a piece they’ve not worn in 20 years and is willing to sell.”
The value of gold soared last year due in large part to the economic uncertainty engendered by the Trump administration’s erratic policy making process.
Spot prices for gold hit $4,381/ounce in October 2025, up from $3,000 at the start of the year, marking the largest increase since 1979, as buyers globally sought to acquire the metal.
Shane Crossan doesn’t worry about the nature or condition of the gold pieces he’s offered.
“Mostly it’s jewellery but I’ve also bought gold coins. The condition of the pieces doesn’t matter because it’s all sold on as metal rather than jewellery. I’m a glorified scrap merchant!”
In his 40 years in the jewellery trade Shane has rarely seen gold prices so high. He enjoys the journeys across the country.
“It gets me out and about.”
He aims to be back in Ballyhaunis in June - he’ll also travel to Claremorris, which he describes as “one of the busiest towns in Ireland” in terms of people seeking to sell gold.
“My typical clients are 60 to 70-year-old people with pieces of jewellery that have gone out of fashion and the kids aren’t interested in them. If the price is right they’ll sell them on.”
Asked if he’s worried about being presented with stolen gold, Shane said he’s so far not had to face that prospect.
“You’d be wary of a young fella coming in with three wedding rings, you just know he didn’t own them. But luckily I’ve not been confronted with that situation… We’ve been robbed in our own jewellery shop so no good luck comes out of that.”
Shane pays by weight but it all depends on the carat.
“I work out which carat the piece is and then I weigh it. An eighteen carat piece is worth twice as much as a nine carat piece. I then weigh it and pay by the gram.”
