Sell your gold - guide discussion
Comments
-
where is the best place to sell indian gold in london?0
-
-
Before you sell your Indian gold, you should be aware that Indian gold is now hallmarked, but it is a common misconception that all Indian gold jewellery is of a high carat value, whilst that is true with much of the gold jewellery sold in that country, with 916 (22ct) being the most popular, there are in fact six official standards for gold in India:
958 (23ct), 916 (22ct), 875 (21ct), 750 (18ct), 585 (14ct), 375 (9ct)
The 925-1000.com website has full details of the current system of Indian hallmarking.0 -
Before you sell your Indian gold, you should be aware that Indian gold is now hallmarked, but it is a common misconception that all Indian gold jewellery is of a high carat value, whilst that is true with much of the gold jewellery sold in that country, with 916 (22ct) being the most popular, there are in fact six official standards for gold in India:
958 (23ct), 916 (22ct), 875 (21ct), 750 (18ct), 585 (14ct), 375 (9ct)
The 925-1000.com website has full details of the current system of Indian hallmarking.
Isn't that a "Silver only" site?
As an aside, and not really related to the thread... but related to the specific question about indian gold...
The problem with non-hallmarked indian gold, is that many consider it to be 22ct. This may be true, however they use a lower grade solder such as 14ct solder. Because indian jewellery is typically quite intricate, you have a lot of 14ct solder. Meaning that this reduces the grade and value to 21 or even 20 carat.
As such, the value of non-hallmarked Indian Gold typically has to be determined by approximation, or by melting to determine it's true purity.
Furthermore, only specialists will know what to do with Indian Jewellery because much of it will contain a large amount of Cadmium - A nasty extremely toxic metal. The legal tolerance for Cadmium in Jewellery is 0.01%. I have found some indian jewellery with an excess of 20% cadmium.
Most of the gold buyers listed in MSE's recommendations will not have the facilities to smelt, refine and test jewellery containing cadmium safely. And as such, would not be able to offer a true value for it.
Link to article about Cadmium: theassayoffice.co.uk/meet_the_experts/cadmium_labexpert.html0 -
Several countries are now insisting on the addition of a 'KDM' mark on jewellery where cadmium (in some countries called Kadium) solder is used, as a statutory warning. Although the other day I noticed that this warning had been converted into a sales pitch by one Indian jeweller to the perhaps unwitting public. Following their name, they stated "High Class Jewellers - 100% KDM Gold and Silver Ornaments"
No, the website is not "silver only", the emphasis is on hallmarks and other marks found on precious metals, but it covers many aspects of the trade.0 -
Having read the reviews, I was wondering if anyone could help advise what to do with jewellery that has stones in them. I doubt they are worth much, very small diamonds and baguette diamonds (which I believe are unpopular anyway - I liked them!)
Is there anyway to remove the stones and then sell the gold for scrap or something else that I need to do?
Thanks0 -
I sold some gold through Lois Jewellery last year, and received £2500 instead of the £1400 and £1680 i was offered locally. Advice is always check the current prices (Lois is usually a good guide), also if you can and amount dependent it is worth travelling to Birmingham. The shop is about a mile from New Street rail station and easy to find.
I would not hesitate to do the same again, as I felt comfortable dealing with them and that they were trustworthy. I had included a mounted sovereign in the gold and when I asked for this valuation separately an additional £280 was paid.0 -
Murtle, I'm totally stumped as to why you want to destroy something possibly valuable, just to get the bottom line scrap value out of it.
Don't fall for the "it's unpopular" line, that's an age old buyer's trick. One man's meat is another man's poison, some people love Victorian, and hate Deco, others love Modernist and hate Georgian, it's horses for courses, someone, somewhere, I'm sure, would want to buy your your pieces for what they are. But do yourself a favour, research what you have before you part with it.0 -
The traders are ruthless and will not tell you if you are selling them 18ct up etc if you think its 9ct
You lose 30-50% profit if you dont know what you karat and weight your gold is
youtube : Gold Testing (What Gold Buyers Don't Want You to Know!)
4 traders in Hatton Garden would have easily bought my 18ct chain as 9ct
Including Gerrards 'who were also very curt when I asked for my gold back' saying that "they normally deal with trade who know the price of gold and dont value it first"
Liars ......
Know your weight carat and current price per gram.
Know your stuff and dont get robbed blind like 1000's of people do0 -
The traders are ruthless and will not tell you if you are selling them 18ct up etc if you think its 9ct
You lose 30-50% profit if you dont know what you karat and weight your gold is
youtube : Gold Testing (What Gold Buyers Don't Want You to Know!)
4 traders in Hatton Garden would have easily bought my 18ct chain as 9ct
Including Gerrards 'who were also very curt when I asked for my gold back' saying that "they normally deal with trade who know the price of gold and dont value it first"
Liars ......
Know your weight carat and current price per gram.
Know your stuff and dont get robbed blind like 1000's of people do0
Categories
- All Categories
- 343K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards