Selling old gold for cash?

Dawalka · 11 August 2009 at 10:05AM

Hi all.

I have just stumbled upon a site called cashmygold, and have an old gold chain I wanted to sell. Basically they send you a pre-paid envelope, you send your gold and they send you a cheque once it is valued.

Now I know that this is not the best way to get maximum value for my gold but as I never wear it and it seemed the quickest and easiest way to make money from it.

Does anybody know the prices these sort of companies pay for 9 ct gold? I know it wont be great but wondered if anybody had used this service before? Just be nice to know what to expect!!

Thanks for all your help.

Leah

Poosmate · 11 August 2009 at 12:39PM

I'm sure I've seen an ad on the tv for this company. I believe they buy the gold to smelt it into ingots so the items are valued by weight not by style. I don't think I would use such a service.

Have you got a "jewellery Quarter" where you live? Birmingham has quite a large Jewellery Quarter with many shops where jewellery is made on the premises, I'd go there (because I go to the City occasionally).

Hope this helps

Poo

masonsmum · 11 August 2009 at 12:46PM

I had quite a small bundle of old gold at home, broken earrings etc and as I mostly wear silver now I took it to a local jeweller on the high street and was offered £100 for it.

Sorry have seen the advert but not used that company but it is a good way to make some money

nikki1520 · 11 August 2009 at 12:48PM

A lot of local jewellers also buy gold - and less chance of it going "missing" in the post. I'd be tempted to go along to the local shops and have a look. If you look at some of the gold buying websites, you can get a good idea of price per gram etc

Xaviera · 11 August 2009 at 12:51PM

Hmm I got them to check out how much my silver was worth and it was a pi55 take! :mad:

I'd try the high street before you go to these places.

Dawalka · 11 August 2009 at 6:41PM

Thanks all for the replies. I think I will get a high street jeweller to value it 1st. Does anybody know how much I should expect for around 14-16 grams of 9ct gold with the current prices? Found a few reference sites but it all got a bit confusing!!

Cheers

moneymakestheworldgoround · 12 August 2009 at 12:04AM

Sold a 2gramme 9ct gold ring at car boot and dealer said she would get £12 for it, so she bought it for £10. She said if she could make £2 profit per item in 24 hours she would be happy.

Not sure how much of this was true !

But that would make 14 - 16 grams worth £84 - £96

Would guess it would be more than this in reality

Dawalka · 12 August 2009 at 8:27AM

Thanks MMTWGR, I have seen a few valuation sites and its around £100 value, but should expect 80 - 90% of that from a scrupulous dealer!!

Il let you know how I get on, Im not the best haggler!! lol!

nexuss · 12 August 2009 at 11:22AM

Dawalka wrote: »

Thanks all for the replies. I think I will get a high street jeweller to value it 1st. Does anybody know how much I should expect for around 14-16 grams of 9ct gold with the current prices? Found a few reference sites but it all got a bit confusing!!

Cheers

Scrap gold dealers will pay £101.12

Dawalka · 13 August 2009 at 11:13PM

Just to keep you posted we got £80 for what we estimate was £100 worth of gold. Was happy to accept the 20% reduction for the shops overheads and smelting costs.

moneymakestheworldgoround · 14 August 2009 at 12:10AM

ooh, good on you !!

Selling old gold for cash?

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