Selling old gold for cash?

Dawalka

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

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

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

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

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

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

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

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

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

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

ooh, good on you !!