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Cash for old unwanted broken jewellery

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  • mookie
    mookie Posts: 2,655 Forumite
    If anyone has kids my DH and I collected all our broken and old gold and had 2 bangles made up for our 2 for their 18th birthdays, I think it worked out something like £170 to have 2 solid adult sized ball bangles made up, this included them making them and we also had to pay for the balls as extra as they dont make these (that was the design we wanted but would of been around £80 to make a different design) they can make up most designs in an independant jewellers.

    The bangles were valued at a total of £1000 just over a year ago and gold has gone up since then so was well worth doing. Our eldest is 8 so these are something that will make lovely pressies, have a nice sentimental meaning and also should be worth a fair bit more than if we had just cashed the gold in for a few quid.
  • Good thinking Mookie.

    i have some gold given to me by my inlaws, wore it once and then had it in storage ever since. Have been thinking about giving it in to jewellers and having it made into something simple and classic for my daughter. Think this thead has just inspired me to it - rather than just thinking about it!
  • Hi! this is my first post on the forum,I have been an avid follower of
    Martins for a few years!
    Has the price of silver gone up as well ? I have loads of broken silver
    jewelery,that is just kicking arround, and if I can get a few quid well
    That would be a bonus!:rotfl:
  • tobybowes
    tobybowes Posts: 409 Forumite
    Not sure if this is the right thread to post in cause were on the freebie board but seen as there is a disscussion about it..........

    A relative of mine who has gambled on the stock market and banking for years recently sold the majority of shares due to the unstable market. Instead he purchased £10k in gold bullion (i believe direct from the bank of england). At this current time if you can afford it would you say this is a better gamble (i know nothing is ever certain) than the uncertain market (and the low interest rates/risks of banks) at this moment in time? People tend to predict stock markets, do people predict wether gold will go up or down?

    Just thought it'd be interested to ask as i dont like talking "business" with my friend cause money is a personal issue to him really. If required please ask me to post this in a better place (where ever that is).
    2008 Competition Wins: £200 Cash (Boffer's Youtube Bag O' Crap Video Competition 2)
    2009 Competition Wins: Monopoly Deal Card Game, Wild Bean Cafe Coffee Hamper, 2 Mars Bounce Football's, a £10 Magnum® Pleasure Card
    2010 Competition Wins: Lucozade 8Gb iPhone 3GS........hopefully more soon
  • Skyhigh
    Skyhigh Posts: 332 Forumite
    Silver:
    Most places won't buy silver for scrap unless you have at least 500g. It's worth much much less than gold - usually it's not worth the hassle for companies/jewellers, especially since its expensive to post due to the weight.

    Gold - Posting it isn't always good:
    This isn't a great idea.
    It can cost you to post it sometimes (unless they send you a postage paid envelope).
    It can disappear, it's happened to us before.

    NEVER send off scrap gold without a quote!
    Use your kitchen scales (hopefully that weigh within 1/100th or even 1/10th of a gram), see how much it weighs, look online to see current scrap prices and what THEY will get selling it to a dealer, call them, tell them the weight - see what they tell you they will give today.

    There's not point in sending off your scrap with no idea about how much you'll get. They might send you £300 when your local jeweller or another company will give you £900.

    Don't assume that they'll all offer "about the same amount".
    People will give you what they can get away with, certain companies will give you only 20% of the actual scrap value!
    Someone may offer £80, someone else £200, someone else £500. Shop around.


    From a commercial point of view I know that when you post off gold, the company will hold it for anywhere up to a few weeks, they will then pick the day with the lowest cost at scrap prices and give you that rate.
    Hence, with recent gold fluctuations, you could miss out on a fair bit of money.

    Similarly, the blighters can often pay by cheque, or hold onto payments - hence they keep the interest. To you, its probably only a few pence....but when they do it over all transactions - it adds up!


    It's nearly always best to go local.
    You can carry the jewellery on you, you get cash in hand and you're off.
    As others mentioned, you can usually get a really really good deal by part-exchanging the gold against another purchase.

    Example, you may get £100 for your scrap or second hand jewellery, but the jeweller will probably know off anywhere up to £150 (or more!) off the purchase of another item.

    Gold has been going up steadily over the past few years since its a safe investment, previously China and many other eastern countries have been investing heavily in gold, this pushes the price up as theres less back.
    Certain supply mines are 'drying up' (its getting more expensive to mine the gold, since they're having to process more ore), so thats pushing the price up too.
    Various American companies and dealers have been investing during the credit crisis over there this/last year.
    Now, many western companies are investing in gold due to the 'credit crunch'.

    Gold is a really safe bet to invest in, it tends to hold its own, usually you won't get any quick profits in terms of investment.

    Gold is set to rise over the next few years, but it won't make much different to many people wanting to sell their scrap/second-hand as not much of the profit will get passed on. You're pretty much better off getting the cash and putting it in a high interest account.


    Am I a reliable source? Yes....my families in the business! ;)
  • Nicki24
    Nicki24 Posts: 165 Forumite
    tobybowes wrote: »
    Not sure if this is the right thread to post in cause were on the freebie board but seen as there is a disscussion about it..........

    A relative of mine who has gambled on the stock market and banking for years recently sold the majority of shares due to the unstable market. Instead he purchased £10k in gold bullion (i believe direct from the bank of england). At this current time if you can afford it would you say this is a better gamble (i know nothing is ever certain) than the uncertain market (and the low interest rates/risks of banks) at this moment in time? People tend to predict stock markets, do people predict wether gold will go up or down?

    Just thought it'd be interested to ask as i dont like talking "business" with my friend cause money is a personal issue to him really. If required please ask me to post this in a better place (where ever that is).

    I would also be interested to know anyones thoughts on investing in gold.
  • Nicki24
    Nicki24 Posts: 165 Forumite
    skippylala wrote: »
    Hi! this is my first post on the forum,I have been an avid follower of
    Martins for a few years!
    Has the price of silver gone up as well ? I have loads of broken silver
    jewelery,that is just kicking arround, and if I can get a few quid well
    That would be a bonus!:rotfl:

    I just checked the website and it says they buy any types of gold, siver and platinum in any condition - might be worth a try if you have lots of broken silver jeweller lying around.
  • Theres a Gold and silver buyer at Spring Lodge Community centre, witham, essex for the next couple of days if anyones interested. I sold some gold yesterday and made £140 and im well pleased!
    :hello:
    "Knowledge is knowing a tomato is a fruit, wisdom is knowing it doesn't go in a fruit salad :p:D
  • Anyone know which jewellery chains (see what I did there?) are best to approach locally? They certainly don't promote any kind of trade-in offers!
  • MadMac_2
    MadMac_2 Posts: 1,173 Forumite
    What an interesting post - I have lots of rings and earrings from old relationships that I wouldn't mind offloading - but would probably be too embarrassed in all honesty to walk in to a shop with them as they aren't the nicest pieces in the world, I'll say tactfully!

    So might just take a deep breath and chance my luck with webuyoldgold.co.uk as I'm better off getting something rather than nothing?
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