Selling gold on the high street

daz378

I've recently turned 60…so to help with weekend celebrations…I took piece of gold from a draw bought a good few years ago…a half sovereign with 9 carat pendant around it…Google lensed it which identified it..to approximate value…total weight...7.9 grams…went in a swanky jeweler mcr town center..only offered me 350...round corner May's pawnbrokers 455 ...I accepted it…its uptown with friends tomorrow…16 weeks post OP broken ankle still need walking stick outside…even though its only half hour from home...booked hotel...in case struggle for taxis…back to gold..would I have got more selling online?. Also posted on Boost your income in relation to this

p00hsticks

What year half sovereign ? Some years are worth more than others ….

QrizB

https://forums.moneysavingexpert.com/discussion/comment/81939220#Comment_81939220

Although the ones used in jewellery are usually only bullion grade, as I understand it. It's unlikely to have been worth more than the gold content.

Edit to add: the current (live) price at Bullion by Post for a half sovereign is £376:

https://www.bullionbypost.co.uk/sell-to-us/sell-gold-coins/sell-half-sovereigns/

I don't know what the value of the 9ct pendant would add, but £455 doesn't sound too bad.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/81939299#Comment_81939299

You can use any sovereign in jewellery, though it may not be advisable to use one of the highest grades. Sure commercially manufactured ones are probably more basic coins but back in the day at least mounts were an off the shelf item and you could set any coin in one. My mother believed hers was worth a lot until it was "stolen" and online research showed it was just scrap value.

QrizB

Reading the OP's other post on this topic:

https://forums.moneysavingexpert.com/discussion/comment/81939141#Comment_81939141

7.9g was the total weight of the sovereign and setting.

The sovereign was nominally 3.99g so the setting was 3.91g.

9ct gold is 37.5% pure, so 3.91g of 9ct gold contains 1.47g of gold.

The current spot price of gold is £107/g so 1.47g of gold is £157.

So the pendant would notionally be worth £376+£157 today, which is £533. But I doubt you'd be able to achieve that price in a sale.

MayDogsandCoffee

You sold it for a price you were happy with so no real point in wondering if you would get more. Lots of scams online and you may have lost out, but you do have money in your pocket now.

p00hsticks

https://forums.moneysavingexpert.com/discussion/comment/81939526#Comment_81939526

Depends on whether they pawned or sold it at the Pawnbrokers - if the pawned it they could always get it back to sell elsewhere ?

MayDogsandCoffee

@p00hsticks If funding is still available for both purchase and interest accrued, it is always going to be more than pawnbroker paid for it - that's how they make money.

daz378

Only bought a few years ago was a modern sovereign…I'm happy with it..was surprised a pawnbrokers offered more..than jewelry shop