Sell My Gold A Guide To Selling Scrap Gold}

Sell My Gold – A Guide to Selling Scrap Gold


Brian Aitchson

When I think of selling scrap gold I tend to think of the process of dismantling electronic devices and printed circuit boards to retrieve the gold hidden away inside, or perhaps removing gold plating.

If you have a large quantity of this type of scrap gold you will need to find a precious metal recovery specialist. If you are lucky there may be other components that they can extract some value from also.

However if your idea of selling scrap gold is broken jewellery, odd earrings, dental fittings and even gold teeth then there are many options available to you.

There appear to be more and more companies every day fighting over your unwanted trinkets and theoretically this ought to be good for the seller.

The recent rise in the price of gold seems to have caused an irritating increase in the number of gold buying companies advertising on television, each with their own price promise or celebrity endorsement.

Before you decide to despatch your gold to the company with the friendliest celebrity or best sounding offer, be sure to assess the value of your scrap gold yourself. Our website has a simple gold valuation guide that breaks down this process into simple steps.

In summary, you’ll want to split the gold into groups based on the purity. (9ct, 18ct, 24ct, etc) and weigh each individual group separately. Most jewellery in the UK is hallmarked somewhere unobtrusive, if there is no hallmark it might be worth checking with a jeweller before sending anything away, or you can buy fairly inexpensive gold testing kits. Obviously you want to use the most accurate scales you can gain access to.

If you go down the path of using an online gold buyer, be sure to check the insurance cover provided on the gold pack that they issue you. If the included insurance doesn’t meet your assessment of the value of your scrap gold, ask at the post office for additional insurance.

Gold buying companies that won’t give you even the vaguest indication of what they’ll pay for your scrap gold until they have received your items should be avoided unless you are comfortable haggling. Never accept their first offer and insist that your gold is returned, most buyers will increase their offer to save on the expense and hassle of returning your items.

If the money you are offered falls a long way short of the value you calculated when using our guide without a reasonable explanation (one of the pieces was 9ct not 24ct for example) simply get the gold returned to you. There are plenty of legitimate buyers around, even your local jeweller or pawnbroker shouldn’t be discounted. Just because the TV buyers gave you the idea to sell your gold, doesn’t mean they pay the highest prices, after all TV advertising isn’t cheap!

If you’re considering selling your gold, check out our free

Sell My Gold

guide. Available along with other snippets of gold selling advice from

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