Gold Selling guide discussion

unclejonny

What you say could well be true, I'm not a police officer or a crimal so couldn't possibly comment!!! All I would say that is that when we buy gold in our shop we don't buy from minors, request ID and a signed declaration from sellers.

Beta_Block_Party

My only advice would be to do some good internet trawling before you decide which firm to go with.

I wish my partner had before she sent her gold off to Money4Gold.

A quick look at threads such as this would have prevented months of stress and unbelievable customer service: http://money-watch.co.uk/5732/have-money4gold-stolen-your-gold

kaya

gold has a worth as a metal, NO JEWELER OR GOLD buying firm will pay you what your gold is worth as a metal as they all have to make a profit on it, if you want to get a good price for your gold and not get ripped off the only place to go is hatton garden in london, this is where the rip off firms will take YOUR gold that they have underpaid you for and sell it on for profit every time, anybody who sells there gold to one of theese firms expecting to get what it is worth is deluded, they are making money from you, that's how they work, NO JEWELER OR GOLD BUYING COMPANY will pay you close to scrap value for your gold, thats all they can sell it on for, you can google the scrap price of gold anytime, thats what your gold is worth, i know a few villans who go round small villages putting out flyers then book the local village hall, these people are making THOUSANDS of pounds in cash EVERY WEEK from other peoples ignorance, dont be ignorant, check the scrap value then weigh your gold before selling please everybody

pjmitchell

I sold 5 gold sovereigns to a postal gold company cash4gold and recieved £975 for them. Beware though that you need to weigh your gold before you send it and check on BBC website for price of gold per ounce so you get a rough figure of what it is worth.

Remember that the gold company still needs to make a profit so it will be a little lower what you are offered.

I was offered 4 different prices over the phone once they had my gold starting at £250! so I told them to get lost and send my gold back and then they called me back eventually with a better offer.

Only use a company that will give you the choice of accepting the quote not just sending you a cheque for a bit of security.

In terms of gold sovereigns (7.99g 23c) you get more in gold scrap value than by selling the coin as an investment coin!

DiggerUK

This guide is a welcome addition to MSE. However, it is far too long.
All forum users need, is a short warning about the gold sharks out there, then a best price guide pointing forum users in the right directions.

A clearer distinction should be made between selling scrap gold, gold coins, and gold bullion bars.
Hatton Garden Metals is a one stop shop for all those items, but local coin and medal dealers, will usually buy and sell non scrap gold as part of their bread and butter trade.
All forum users need to know, is what is the best price they should expect for their gold when looking for a buyer.

The guide is a bit of a curates egg, but to be welcomed.
I give it a C+.

Browntoa

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Zach

I am another Lois Jewellers fan who are based in Birmingham.

Over the last two momths, I have sold gold twice. Both for around £2k on both occasions.

I did lots of research on this forum and on the net and I went there and I was very satisfied. Very honest, friendly and non nonsense.

On the second occasion, I was in the london area and decided to use Lois London. I got a very good rate, £1900 which was £300 more then anywhere else in Hatton Gardens. Please note that the Lois london is an affiliate of Lois Birmingham according to the son in law. The Hatton Gardens Lois is much seedier and no way near as friendly as the family run Birmingham branch. I do not know why they gave their name to the London store but they do good prices but lack the class and friendliness.

Sorry if it offends London Lois but it is the truth!! I cannot fault you on the rate.

The other reassuring thing about Lois Birmingham compared to many jewellers including the Hatton Gardens ones is that Lois has a electric gun that instantly tells you what carat the gold is. These are expensive but you know you are not being ripped off.

Browntoa

no problem

it's also to protect you , I could be a rival and join in you name and create havoc

saoirse86

kaya wrote: »

gold has a worth as a metal, NO JEWELER OR GOLD buying firm will pay you what your gold is worth as a metal as they all have to make a profit on it, if you want to get a good price for your gold and not get ripped off the only place to go is hatton garden in london, this is where the rip off firms will take YOUR gold that they have underpaid you for and sell it on for profit every time, anybody who sells there gold to one of theese firms expecting to get what it is worth is deluded, they are making money from you, that's how they work, NO JEWELER OR GOLD BUYING COMPANY will pay you close to scrap value for your gold, thats all they can sell it on for, you can google the scrap price of gold anytime, thats what your gold is worth, i know a few villans who go round small villages putting out flyers then book the local village hall, these people are making THOUSANDS of pounds in cash EVERY WEEK from other peoples ignorance, dont be ignorant, check the scrap value then weigh your gold before selling please everybody

What a load of rubbish! You make it sound like we're all crooks. Today the worst paying trade scrap place in Birmingham is paying £9 pg so the family jewellers I work in pays that. We don't go to London to sell anything, we reuse the same gold to make new items which benefits us not needing to pay as much for gold as trade places charge, and benefits anyone scrapping gold as we can offer them trade prices. We are a proper jewellers who actually manufacture in a real workshop in the shop and don't need to play those games.

dreem

I'm sorry but this seems to be the most hastley written article to date! They've taken the Compare The Gold market web site, something that has just sprung up over night as gospel fact - The article almost needs a 'sponsored by Hatton Garden Metals' banner on there somewhere! and i question how many dealers MSE actually sent gold to for review... I deal with Scrap Gold UK in the Birmingham jewellery quarter regually but don't see any mention of them anywhere and they are one of the original family dealers in the Scrap Gold trade - and neither MSE or Compare The Gold Market seem to have 'tested' them + what little info the gold comparison site has on them is incorrect!