Gold Selling guide discussion

ejr2403

Read the US lowdown on Xrf analysers then. Always get to se the result on a known gold quantity ie a sovereign which is 22ct or a pure gold bar. Check the reading of the gun before you sell scrap Acids cant be diluted and then used

Now seems to be a new player n the marketplace Hatton Garden Gold Refinery, paying well over the fix. Who are they and how com they can pay 50p a gram more than Lois, Birmingham Gold Company, Hatton garden Metals etc . Can't be real.Oh wait minute in their terms and conditions it states "We reserve the right to pay under the gold price stated on our website to cover costs of business" Well that's all right then!
Are these linked to Hatton Garden Metals. I presume not

e_london

I am not an expert but I used to deal with scrap metal ( copper, zinc, steels etc ) in the past,

The thing about these XRF machines is that they can only test the surface of the material. If there is any oxidization on the surface of the material or the material is plated with a higher value metal. You are going to get an accurate reading and your valuation will be way off.

I used these handheld machines in the past you would only use them to back up your assumption as to what the material is. Although I have no experience with precious metals I would say these firms would only use the XRF machine to back up ( or not ) the results from other test - I think they use acid to test the purity of gold for example. XRF machines are not worse or better than testing with acid rather they would be used in conjunction to back up ( or not ) a valuation assumption.

Just my two pennies worth... anybody think differently ?

samsoniteuk

ive been looking at the british gold refinery and prices seem great but has anyone used them and if so how was your experience ?
I have 25g of 9kt and another question I have a nearly new bracelet of my wifes that she doesn't wear its 14kt and 17g where would be best to sell it im in west London
many thanks in advance
Bill

GordonSadler

I've just gone through the process of selling some scrap gold, and have had mixed experiences, that I thought I would share on this forum. There hasn't been may posts on the subject recently, but I was so shocked and angry by the process I couldn't let this pass. I have a very heavy gold pocket watch to sell. It had c80 grms of 18ct gold in it. I sent it to postgoldforcash and received a valuation of £250 to buy it.. They were very pushy and wanted me to accept the offer. They subsequently came back with an offer of £1400, which I again rejected. Still wanting to sell the watch, I came across the article and forum posts here and selected a company local(ish) to me, Falcos which also now trades as GoldDealers Ltd in Colchester. The experience couldn't have been more different. The price quoted was the price paid, with no hidden extra charges and ended with a selling price of c£1900. So, credit to this business for providing a good service and being a business I feel I can trust for future business. That said, the gold buying business in general is like the 'wild west' with no real regulations in place - sharp practices abound, as there are great profits to be made - particularly from vulnerable people in need of quick cash. I was not in need of immediate cash so was quite prepared to shop around and in the end got a deal that I was happy with. But there is need for this business to be looked at and protections for sellers put in place. BTW - there is a industry scheme put into place called Gold Standard, but not many of these companies have signed up, as it will curtail a lot of their sharp practices.

Lolasmom

After researching MSE, I got a quote from Hatton Gardens for some silver jewellery I wanted rid of. They quoted £50, plus I had to send it via Special Delivery (which would have cost £6.35).

As I waited in our local post office queue waiting to send it, I noticed they had a sign saying they bought Gold & Silver. I asked for a quote and they offered me £60 cash in hand.

No brainer for me - didn't have to wait for the money and was £16.35 up on the original quote by Hatton Gardens - Happy Bunny :T

Just shows it pays to shop around, even on the high street;)

John_Pierpoint

https://forums.moneysavingexpert.com/discussion/comment/58957003#Comment_58957003

https://forums.moneysavingexpert.com/discussion/comment/58525069#Comment_58525069

creative2013

Sent items to BGR before Xmas, notified 7/1/13 by phone call of offer £270 which was declined. (Text removed by MSE Forum Team) ) returned call with increased offer over £300 again declined. Called them on 9/1/13 to check on returns when I told Ian that I had Auth Certs for all items I sent. He requested I send them to him which I did, and he would have my items looked at again. On 10/1/13 got call from Ian Townsend who increased offer to £530 which I accepted via Email.
Rang several days later after checking bank account and asked when deposit was to be made, spoke to NEW Ops Manager TOM READ who has replaced Ian TOWNSEND !!!!! who denied such revised offer being made and after more comings and goings has told me that the Management decision was to send my items back via Special Delivery ...... I AM STILL WAITING.
READ was adament no such offer existed and having provided him with all times / dates of phone calls between BGR and myself, says there is nothng in any of the RECORDED calls that supports the revised offer.
I have now served a Data Protection 'Subject Access Request' on the company with regards to the phone calls and contents under Data Protection Act, they now have 40 days to respond. In the meantime I will still call to get update on return of items although that is slow at present as phone goes on Auto at there end stating " you are number 1 in the queue, please hold ....... etc etc ".
I am also considerering reporting the items as stolen to the Police if they are not returned in the next 7 days as I consider they have ' assumed ownership ' of my property and therefore committed the offence of Theft. Rant Over ....... well nearly, have also prepared complaint with ASA and Trading Standards ... now rant over. :mad::mad::mad::mad:

xoAmyox

I am looking to sell a platinum 0.3 carat diamond ring, can anyone suggest the best way of doing so please?

ejr2403

ebay I think, but set a strong reserve, don't be afraid to ask at least 50% of retail . If buyers think your diamond is cheap, they'll pay cheap money ,.

margeproops

Hi, I have a 9 carat rose gold wedding ring that belonged to my great grandmother. I think it's about 120 year's old. Does any know whether it's worth more because of the age or would it just be the usual rate for 9 carat gold? Thanks