Gold Selling guide discussion

Firtree_2

I've got to agree 100% with Dreem.
That website Compare the Gold Market is very deceptive. And I wonder how biased it is, also how up to date.
For example, the link to Cashforyourgold is totally wrong. I have dealt with this company in the past few months, and so have many of my family and friends. The last time I sent gold was last week.
Their prices per gram, per carat are listed quite prominently on the home page and so you can weigh your gold and calculate what you will get before you take a stab in the dark and post your gold and wait for someone else to make you an offer.
Today for instance, 9ct is priced at £8.80 per gram on Cashforyourgold.
Their service is first class and polite and FAST! Money in the bank as soon as they confirm to you by phone.
I have no connections with the company at all, I am a 70 year old pensioner, I had a recommendation from my daughter and have been glad to offload my junk gold items for much needed cash.
Martin, may I suggest you investigate that Compare the Gold Market link.
I recently sold my 22ct wedding ring (3g) for £68 whereas when I clicked on the cashforyourgold link using that comparethegoldmarket site and entered the same details today, is showing that I would get a minus figure!!

cmmolloy1

Hi all

Just a word of warning after a horrendous experience with cash4mygold website.

I measured my gold on calibrated digital scales so I know they were accurate, sent it off and waited for the call.

Their website gives an online calculator so assuming the weight was correct and the price advertised per gram of 9ct gold then I had a fair idea of how much I should be offered.

Got a call of a very rude sales girl (you know the sort that's patronising and talks over the top of you?) quoting me 50 quid less than their website offered! When queried she claimed she didn't know the weight of the gold sent and when I pointed out it was accurately weighed she claimed the gold required more hallmarks (it's fully stamped up 375)

So a warning to all, despite the most professional looking of websites full of reassurances some companies are clearly a con.
I shall be off to Hatton Garden metals as soon as my gold returns. (as recommended on here)

Avoid cash4mygold at ALL COSTS!

tinyroman

Used their service after seeing the feedback on the forum. Absolutely brilliant! The money was in my bank the next day, and was actually a bit more than I'd anticipated. Will recommend them to anyone wanting to cash in gold.

The_Thrilla

These cash for scrap gold people have mushroomed over the last year or so. There are at least eight businesses in the town advertising cash for gold that have sprung up during the last year.

Why?

The obvious answer is that they say hyperinflation coming down the pike. So do I. That is why I am buying gold and silver bullion, and not selling any scrap jewellery.

ka7e

Scrapgold.org.uk doesn't buy gold, but has a good site including a valuation formula.

http://www.scrapgold.org.uk/scrap-gold-valuation.html


You need a digital scale that weighs in grams.
Find out the day's spot price for gold bullion - which is 24ct gold, usually quoted in Troy ounces.
Sort gold by carats and weigh without stones or glass (watches).
Divide the spot price by 31.1 to get the price per gram.
Multiply the number of grams by the number of carats of the gold (9,18,22 etc) and divide by 24 -this gives the grams of pure gold in your sample.
Multiply this figure by the price per gram.

Repeat the process for each type (carat) gold you need to value.

Alledgedly you can expect to get 85-90% of this value from a reputable buyer for scrap gold.

valperkins

Sent some gold on Friday to Hatton Garden Metals, money was in my a/c today Tuesday, and a very fair price paid.

Happy-Chappy

I sent a package of no longer used gold and silver (some broken items) to Hatton Garden Metals on 18 the Aug 2010. They received it this morning 19th Aug and the payment was in my bank account a few hours later. I found their service highly professional.
A gold chain that I had bought years ago turned out to be 20 ct instead of the 22 ct I believed it to be but they rang to ask if I still wanted the sale to go through.
I am aware that foreign gold is tricky and sometimes unfortunately a lower carat than that stamped on the item, but I was happy to go along with that.
It is very important to adequately insure your parcel and send special delivery for peace of mind.
I was very happy with the whole transaction it was far more than I had been offerred by local shops..

flokendall

Don't know if its of any use, but I did promise i would recommend them online as I was very happy with their service . Sold 100 grams of 9ct gold to The Manchester Gold Company who are NOT a postal gold company. They deal in the North-West and my son worked out I got around 92% of bullion. All I know is that I got £150 more than the best offer I could find on the High St. and they even pointed out to me I had an 18ct ring in with my 9 carat. I got double for this.
There ARE some local companies around that pay fair. And I for one would want to see exactly what they are doing with my jewellery face to face. That way I can be assured of honesty. Nothing beats being able to see the whites of their eyes!!

bells_on_it

Hi, I'm not sure whether this is the correct place to post this but i'm just looking for some advice???
My brother is autistic and we have just discovered that in the last 3 months he's sent in 3 packets all of my mothers jewellery, collected over the last 40 years, family hierlooms from her late mother or my father as gifts, to Post Cash For Gold. The jewellery was worth in excess of £2k, probably a lot more, though he only got a total of £170 for the stuff.
The reason i'm writing is because my brother has a childs writing and had sent in even money - he'd sent in £1 coins thinking they were gold and over 500g of items he'd sent in had no value, this including watches, coins such as 10ps ebcause he thought they were silver, £1 coins, cufflinks etc but this did not ring any alarm bells with the company neither did the fact he'd requested the payments in cash, or the fact this was clearly womens jewellery including antique jewellery with a lot of precious stones in and was being sold by a male. They asked for no proof of ownership and just took the gold and paid a fraction of what the items were worth, allegedly disposing of all the non value items, including watches my father paid £170 for 30 years ago and £1 coins, and also allegedly disposing of emeralds, rubies, diamonds etc.
My mum is at her wits end and obviously devastated and I've had to break the news to her that all of her jewellery has inevitably been melted down and the stones removed and sold on and we don't know what to do or whether we even have a leg to stand on??? Also have massive concerns that if this has happened to us then it is possible these people are handling stolen goods - family heirlooms etc, without taking any steps to ensure that the items were legally sold to them.
I just cannot believe this goes on.
Has anyone any advice???

John_Pierpoint

I seem to remember a famous court case where a blind man opened the door on the "wrong" side of the train and launched himself into space, landing on the track going the other way.
The ruling was that the company owed no special duty of care to him even though he could not read the terms and conditions of his ticket or the warning notices.
Perhaps there are different rules in this age of the nanny state?
Is brother over 18? 14? 10?
Does he qualify for attendance allowance? (there is a double edged argument!).
Do you know what sort of paperwork he provided with his consignment - did he have to sign something saying he knew what he was doing and complied with all the company's terms and conditions? Can you prove it.
Do you have any proof of the value of the jewellery (probate? insurance?) or is it just your recollection.
How do you know that he sent in current "silver" & "gold" coins (I have some of the originals that really are!) let alone the "copper" ones that are now steel. Did the company return them (thus suggesting they knew the poster had a limited grasp on reality)?

My late mother (somewhat demented) did something like this but face to face - legally I would have been throwing good money after bad, even the trading standards were sympathetic but said no law had been broken by the "knocker" involved..

Jack and the beanstalk comes to mind.

Where you dealing with an organisation with a valuable established trade name, they might not want the publicity - but the only way of getting an (ex gratia) settlement I can see is to get together enough of a facebook (?) group to generate lots of adverse publicity and have the members make a real nuisance of themselves.

Your mother might be even more stressed if the fourth estate takes up the case.