Selling scrap gold

lea_zola

Hi,
I hope someone can help??
I have a pile of gold that i would like to sell but I am unsure where to go. There are lots of adverts on tv and internet web sites which advise to post the gold in and they have really good prices of £6.70 per gram for 9ct, etc. I have checked with my local jewellers and they have said they will pay £4 per gram. I was just wondering if anyone had used the companies that you post your gold to etc. I live near Oxford.
Cheers, Kelly.

Janmelnick

I have used cash4gold. They sent a prepaid special delivery, I sent a small amount of single earrings and recieved £14, cheque form, within a week. I was very pleased because they were all odd.
However, I have recently sent jewellry as follows to a website called "Cash for your gold". On the website they quoted £9 for 9ct, £16.55 for 18ct etc. I weighed 3 pieces of gold, each at 15g. I believed 2 of these to be 18ct gold. They emailed me, asking me to contact them for a valuation. They told me all three items were 9ct gold and that the weight was 33.5g. They then offered £266. When I pointed out the quote was £9 per gramm, they said it was lower because there was spring wire in the two necklaces - one was a belcher and one a rope. I refused their quote. I contacted Cash4gold, whom I have dealt with before, they offered me double the quote from Cash For Your Gold, with a 20% promotional fee, total £740.

When I rang Cash For Your Gold to ask for my jewellry back, I was told it was too late, they had put the gold into the furnace and arranged payment. I refused to accept this saying that they had no right and if they didn't return the gold I wanted a chq for the amount offered by the other website. They tried to tell me I had accepted the offer! After much arguing, he put me on hold, a "manger" told me a mistake had been made and they had my items. It would cost £45 to send them back. This is in the T&Cs and includes £15 postage (I paid £5.40) and £30 valuation. I will be picking these up on Monday.

Tips

1. Ask a jewellers to weigh your gold.
2. Ask them to verify the carrat.
3. Make an inventory of the wieght, carot, length & description.
4. Keep a copy, along with photos of your jewellry
5. enclose a copy with the actual jewellry when sending.

This sounds a lot but does protect you.

Remember:
If your jewellry is broken or damaged, there are some good offers. (I did like Cash4gold).
You WILL NOT get retail value, or even close!
Second hand jewellry, sold to ebay, pawnbrokers or scrap NEVER fetches its value as new (unless antique heirlooms).
READ the small print, especially about them returning your items.

Hope this is useful

Chris4

http://www.dailymail.co.uk/femail/article-1229632/The-great-fools-gold-rush-Ads-urging-sell-old-jewellery-cash-glittering-seem.html

Chrisblue1962

I heard a very good article about this subject on Radio 4. It basically said that you are best going direct to a precious metal foundry and selling to them as the companies that advertise on TV will not give you a very good price.

You need to determine

1. The precise weight of the gold item in troy ounces. one troy ounce is 31.1034768 grammes.

2. It's carat quality i.e 9 carat, 18 carat, 24 carat. Pure gold is 24 carats. so an 18 carat gold ring weighing 50 grammes would be worth...

18/24th x 50 x price of gold per troy ounce

Hope this helps

ClaireVD

Hi,

I have used hatton garden metals before to sell old scrappy bits of gold (and they were very good), but I was wondering whether people had had any experience of selling nicer bits of gold i.e. with semi-precious stones?

Thanks,

Claire

WhiteHorse

Chards are a reputable bullion dealer. Although situated in Blackpool, you can deal with them through the post without difficulty.

They have a website and are both helpful and informative on the phone.

hhhonlyfan

id personally go for hatton garden materials. i used them and they pay around £8 a gram for 9ct google them and prices will be shown before you send. if u decide to go with them and price goes up they match the price to the day they receive it. you do have to pay for special delivery of items yourself but trust me DONT USE THESE SITES ADVERTISED ON T.V AS I TELL EVERONE where do they make the money to run these adverts?

Answer is from paying low gold prices.