Category: News

Key Takeaways

• Selling gold jewellery or scrap gold for cash can be lucrative but beware of scams that have become increasingly prevalent.

• Researching gold buyers and knowing the value of your gold are two crucial steps to reduce the risk of being scammed and ensure you get a fair price.

• Look for reputable gold buyers with a proven track record and positive reviews and avoid deals that seem too good to be true.

Introduction

Selling gold jewellery or gold for scrap can be lucrative, but it’s essential to be aware of scams. Gold scams have become increasingly prevalent as selling gold for cash has become more popular. If you have gold jewellery to sell, it’s hugely beneficial to be aware of scams, to learn to spot suspicious behaviour and red flags and to take steps to protect yourself and get the best price. In this guide, we’ll share some top tips to help you sell gold safely.

How to sell gold jewellery safely

There are several steps you can take to reduce the risk of being scammed and losing money on your gold. The two most important golden rules to follow are:

1. Researching gold buyers and avoiding scammers

The first step to take if you’re selling gold rings or you’re downsizing or decluttering and you’re looking to swap gold for cash is to research companies. Look for reputable gold buyers that have a proven track record and positive reviews and search for buyers that are members of the National Association of Jewellers. Avoid websites that don’t have the relevant security measures in place and gold buyers that are not accredited. It’s best to avoid social media sites and marketplaces.

2. Knowing the value of your gold

It is essential to research the value of your gold as well as gold buyers to avoid being ripped off by dealers or websites that offer prices that are far lower than the market value. Ask for multiple opinions, research online using reputable, reliable and trustworthy resources and don’t rush into making a decision. Take your time to compare offers. If you think you have pieces that are worth a lot of money, it’s worth considering paying for a professional appraisal. If you go into a negotiation with an accurate idea of the value of your gold, this will maximise the chances of getting a fair price.

Common mistakes to avoid when selling gold

Scammers use sophisticated techniques and they can be very persuasive. To avoid gold scams, here are some common mistakes to be aware of:

1. Rushing into a deal: take your time to get several quotes, compare offers and research buyers and market values before you make a decision. 

2. Avoid deals that seem too good to be true: scammers will often lure customers in with deals and adverts that seem too good to be true. If you suspect that the seller isn’t legitimate, or the goalposts keep moving after the initial contact, walk away. 

3. Accepting a lowball offer: a lowball offer is an offer that is substantially below the market value or the price the seller is willing to accept. Untrustworthy gold buyers will often chance their arm by going in very low and trying to pressure vendors into accepting an offer. If you’re not happy with the price, don’t hesitate to reject it. 

4. Taking the first offer: it’s always beneficial to get multiple quotes before you sell gold jewellery. This will help you get an understanding of how much your gold is worth and it will often result in a higher sale price. 

Conclusion

Selling gold jewellery can be a minefield because there are scammers and untrustworthy buyers out there. If you’re looking to sell gold for cash, it’s crucial to ensure you get a fair price. Research gold buyers, look for reputable companies that are accredited, research gold prices and get multiple quotes and offers. Avoid social media and marketplace websites, take your time to consider offers and walk away if you feel that the price is unjust or the buyer is trying to pressure you into making a decision. 

Key Takeaways:

• Factors impacting the value of jewellery include quality, rarity, and market demand.

• Preparing jewellery for sale by carrying out repairs and cleaning can help increase its value.

• Options for selling jewellery include selling online,auctions or directly to dealers and pawnbrokers.

If you’re selling silver or gold jewellery, it’s understandable to want to get the best price. Whether you’re downsizing, your tastes have changed, or you’re trying to boost your earnings, it’s wise to be aware of tips and tricks to help make the process of selling simple and stress-free and maximise your chances of getting a good offer.

Which factors impact the value of jewellery?

There are several factors that impact the value of jewellery. The most influential include:

1. Quality: the quality of your jewellery will play a significant role in its valuation. The higher the quality in terms of precious metals or gemstones, the higher its value. 

2. Rarity: rare items of jewellery often command high prices, especially during periods when specific styles are very popular and sought-after. 

3. Market demand: market demand drives prices. If the demand is high, values will increase. If the demand falls, prices will decrease. 

How to prepare your jewellery for sale

When you sell jewellery, it’s beneficial to give yourself the best chance of getting the offer you want. Before you advertise a piece online or visit a dealer or a pawnbroker, follow these simple steps to prepare for sale:

1. Repairs: damaged jewellery that is in poor condition is not as valuable or as appealing to buyers as pieces that are in good condition. For fine jewellery, it is often beneficial to carry out repairs before you sell to boost the price. 

2. Cleaning: cleaning is an easy, effective way to enhance the visual appeal of jewellery and increase your chances of receiving a great offer. Always ensure that you follow expert instructions when cleaning and polishing jewellery. You should avoid using harsh chemicals when cleaning gold jewellery and gems, for example.
   
3. If your damaged or worn jewellery is beyond economical repair, consider a scrap gold buying service.

What are the options for selling jewellery and which is the best?

Today, there is a broad spectrum of options available to people who are looking to sell jewellery. Here are some of the most popular options and the advantages and disadvantages they offer:

• Selling online

Selling online is a convenient option, which enables customers to sell quickly with minimal effort. As well as being able to sell without stress, selling online can also be a cost-effective option. If you choose to sell via a site like UK Scrap Gold, you can take advantage of better prices than dealerships and pawnbrokers because overheads are lower. 

• Online marketplaces and auctions

Selling items via online auctions and marketplaces has become incredibly popular in the last decade. The main advantage of online marketplaces and auctions is that they offer quick, easy sales processes. The primary drawback is that you don’t have a huge amount of control over the price unless you specify a minimum offer value. You may also have to pay substantial fees to list and sell your item.

• Auction houses

Auction houses run in-house and online auctions, offering people the opportunity to bid on pieces they like. Selling at auction can be lucrative, especially if there is a lot of interest in the item and this sparks a bidding war, but it can also be risky. There are no guarantees that the item will sell and you could receive a lot less than you hoped unless you set a reserve price. It can also take time to find a suitable auction house and sale. Fees are payable. 

• Selling direct to dealers and pawnbrokers

If you have jewellery to sell, you may be thinking about going to a dealer or visiting a pawnbroker. Selling direct can provide access to instant funds and simplify the process but dealers and pawnbrokers tend to offer less than online websites because their overheads are higher. 

Strategies to get the best price

Here are some strategies to help you get the best price for your jewellery:

1. Carry out thorough research: find out more about the history of your jewellery, the value of the pieces you own, the level of market demand and current prices. 

2. Negotiate: be prepared to negotiate to get the best offer possible. 

3. Get your timing right: timing can impact prices dramatically. Aim to sell when market demand is high.

Conclusion

There are several options to explore when selling jewellery. Before you decide how to sell, research the market, get some valuations and make sure your pieces are ready for sale. Negotiate, keep an eye on prices and levels of demand and weigh up the pros and cons of different selling opportunities. 

Queen Elizabeth II’s death on September 8^th brought her historic 70-year reign to an end. As Britain’s longest serving monarch her image featured on currency across the globe.  

Indeed, her portrait is marked on all the UK’s 29 billion coins and 4.7 billion banknotes in circulation today. She had worldwide influence as the sovereign head of state to 15 nations and head of the Commonwealth of more than 50 others, her image is prominent on more than 20 currencies.  

The remarkable longevity of her reign has meant she is one of the most recognisable people in modernity and coins minted at historic points in her reign will remain highly collectible – take for instance the 2012 Diamond Jubilee and 2022 Platinum Jubilee Gold Sovereign coins.  

Please note that whilst we do not buy general circulation coins, we are keen to purchase silver and gold commemorative and bullion coins and coin sets. 

In this article, we will outline why now could be a good time to sell scrap gold. 

When will King Charles III feature on currency? 

The biggest change to UK currency in seven decades is underway – since Queen Elizabeth II replaced her father George VI as monarch. Historically, when a new monarch is crowned the onerous process of minting new currency featuring their portrait begins. 

Therefore, notes and coins featuring the Queen’s image will slowly be replaced by King Charles III. This is likely to take many years and the Royal Mint and Bank of England have confirmed that all coins with Queen Elizabeth II’s profile image will remain legal tender until they are replaced. 

What does this mean for gold sellers? 

If you’re lucky enough to have a gold Sovereign or a gold Britannia at home, you will be aware of the number of coins featuring the image of Queen Elizabeth II. Even before the Queen’s death in September 2022 there had been a marked increase in demand for coins featuring the Queen’s image. This was prompted by the Platinum Jubilee in June which celebrated her 70-year reign. Demand for coins bearing Queen Elizabeth II’s portrait has further spiked since Her Majesty’s passing. This means now could be a good time to sell gold coins and scrap gold in general. 

The price of gold has climbed in the weeks after Her Majesty’s death – gold was priced at £47.81 per gram on September 8th – compared to the time of writing, October 6th, when one gram of gold is worth £49.20. 

Whether you have unwanted or broken jewellery at home or an investment coin you’d like to sell, now could be a good time to benefit from today’s high price and demand for gold.  

Sell your scrap gold in three easy steps 

Many people don’t realise that they have scrap gold items at home. We buy a wide range of common items including, jewellery, coins, gold bullion, watches, and dental gold. 

1. Get our best price – input your scrap metal’s characteristics using our scrap gold calculator – all you need to know is your item’s weight and purity.   

2. Send your items –  alongside a completed copy of our seller’s form, we recommend using a Royal Mail Special Delivery tamper-proof envelope for maximum security and choosing Royal Mail’s Special Delivery Guaranteed service. 

3. Payment within 2 hours – we send your payment via bank transfer on the same day we receive your parcel. 

Upcoming Royal Mail strikes – 13^th, 20^th and 25th October 
Industrial action continues within the postal service. We recommend using Royal Mail’s Special Delivery Guaranteed service for peace of mind in normal circumstances, but especially now as it is prioritised during industrial action. End-to-end tracking and signature on delivery means you’ll know where your package is at all points on its journey. 

As mentioned, we please complete our seller’s form when you’re happy with the price we have quoted and you’re ready to sell. At UK Scrap Gold, we’re a dedicated team of gold experts, so should you require any help don’t hesitate to call us 01902 828 400 or contact us today.  

As a mark of respect to Her Majesty Queen Elizabeth II, and to enable our staff the opportunity to acknowledge the Queen’s passing in their own way, our business will be closed on Monday 19th September 2022.

We will resume regular opening hours from 9am on Tuesday 20th September 2022.

A BBC report has announced that energy bills for a typical household will rise to £3,549 per year on October 1st. A new price cap is being introduced, which limits the amount energy companies can charge a household for each unit of energy it uses. 

In this article, we will highlight the opportunities available for anyone with scrap gold to sell in these trying times. Keep reading to learn how easy it is to sell scrap gold with UK Scrap Gold. 

How high might energy bills rise next year? 

Prices have been rising dramatically in the UK since the beginning of 2022. In April, the energy cap rose £708 from £2,107. Prices could jump even further in January 2023. Analysts at Cornwall Insight forecast the energy price cap could rise to £5,386 per year when it’s updated next year. However, Ofgem states that price cap forecasts should be viewed with “extreme caution”. 

It’s worth remembering that the price cap is just an indication of where prices could rise to. Your bills may end up being higher or lower than the price cap depending on how much energy you use in your household. Those that work from home permanently might see their bills rising higher than they have ever seen before. 

With bills so far out of control, a grim decision could be facing many, “heat or eat”. The government has promised help to tackle rising fuel prices, however current pledges don’t go far enough. So, some Brits will be looking elsewhere for ways to pay their bills. This is where selling scrap gold can come in. 

Sell your cash gold to UK Scrap Gold 

Whether it’s a broken watch, a piece of unwanted jewellery or dental gold, those with unwanted scrap gold lying around at home can benefit from gold’s elevated price when energy bills start to mount. Why leave your unwanted gold to gather dust when it could go towards paying your bills? 

Gold is favoured by investors as a hedge against inflation. As inflation is currently at a  highs its price is favourable for sellers. This is because investors flock to gold to balance their portfolio during times of economic crisis, in this way riskier forms of investment are balanced by the dependability of gold.  

Should you face a high energy bill in the next few months that leaves you strapped for cash or unable to settle your invoice, remember that selling scrap gold can release some much-needed cash. 

Why Choose UK Scrap Gold? 

In the interests of transparency, there are many businesses operating online that will offer you a competitive price for gold. However, we believe our service stands head and shoulders above our competitors. 

Here are 5 reasons to choose UK Scrap Gold to facilitate your sale of scrap gold: 

1. Over 20 years of experience – UK Scrap Gold has helped people just like you turn unwanted scrap metal into cash within 24 hours for almost three decades. 

2. Established customer base – we have a huge, loyal customer base. Many of our customers return to sell gold on multiple occasions. 

3. Transparent pricing – we offer some of the best prices for scrap gold online. Check our latest gold price comparison to see how we favourably measure up against other online gold buyers. 

4. The latest prices – our prices are a fair reflection of live market prices. 

5. Secure, traceable delivery – your items are traceable every step of their journey through Royal Mail Track and Trace. 

Ready to sell in 3 simple steps? 

Selling your Scrap Gold to UK Scrap Gold is as easy as 1,2,3. Firstly, calculate the value of your gold or other precious metal using the calculator on our homepage. You’ll just need to weigh it first and have its purity to hand. 

Then securely package your item and complete our seller’s form. Send in your parcel by insured Royal mail Special Delivery. 

Finally, you’ll receive your payment by bank transfer within 24 hours of us receiving your items. 

If you have any questions about the process of selling your items don’t hesitate to get in touch with our dedicated team. If you would like to visit us in person, we offer consultations at our head office in Wolverhampton by appointment. 

So far in 2022 a recession has been sidestepped. But can Brits breathe easy? Or will the cost-of-living crisis continue to escalate ending in a recession for the UK economy? These are the questions we will seek to answer in this article as experts warn a recession is not off the table yet. 

A potential recession could prompt many Brits to consider how they can manage to afford their household expenses in the coming year. If you have unwanted gold at home the solution could be closer to hand than you might think. We buy a range of precious metals at some of the best prices online, so why not take the option to sell scrap gold today? 

What does the data say? 

ONS data reveals that a recession was narrowly avoided, as the UK economy grew 0.5% in May. Far from being time to rejoice, the warning signs that inflation could increase, and the cost of living will escalate are stark. If a recession does occur, Brits will undoubtedly feel the squeeze. Inflation is already at a 40-year high, and many have struggled to pay their household bills due to the hike in energy prices following the war in Ukraine. 

Although, the Bank of England is not predicting a recession this year, they caution that a significant downturn is expected between October and December with a contraction of almost 1% forecasted. 

Yet, 68% of economists said they believe there will be a recession in 2023 when asked in a Financial Times survey. As many as 38% said a recession would come in the first quarter of 2023, while 30% forecasted recession in the third or fourth quarter of the year. For a recession to be confirmed, GDP must decline for two successive quarters, meaning a recession could be called as soon as the end of 2022, if the economy continues to decline. 

Will households cut spending and look to save? 

The Bank Rate, the interest rate set by the Bank of England, increased in June 2022 from 1% to 1.25%. This comes at a time when the institution is uncomfortable with the high cost of living and level of inflation. In effect, the UK’s national bank is attempting to control inflation by curbing spending and encouraging saving. 

Household bills, however, are currently at an all-time high and look set to rise again in October. So, despite the inclination to save and take advantage of higher interest rates, Brits may need to channel their current levels of disposable income into paying higher bills in future. 

Scrap gold can be one solution to support paying household bills during the cost-of-living crisis and predicted recession. UK Scrap Gold offers some of the best prices for scrap gold online, as you can see in the table of 9 carat prices below. 

July 25^th 9 carat gold prices:

UK Scrap Gold	£16.46
Chards	£13.94
Top Dog Scrap Gold	£14.40

Gold prices are currently healthy. At the time of writing, 25^th July, gold prices are at £45.80 per gram, up from £43.20 per gram in January. It’s worth noting that the gold price tends to rise in times of economic crisis. If you have ten grams of 9 carat gold to sell today, you stand to earn £164.60! 

Sell scrap gold today to beat the squeeze 

You can find our scrap gold calculator on our homepage; with just a few clicks of this handy tool we’ll calculate the value of your gold. All you need to know is the weight and purity of your precious metal. 

We accept a range of precious metals including, jewellery, coins, gold bullion, watches and dental gold.  

Once you’ve determined the estimated value of your gold you can sell your scrap gold in three simple steps. Should you have any questions about selling your gold or if you would like to book a face-to- face appointment at our head office in Wolverhampton, please don’t hesitate to contact us. 

“We’re all going on a summer holiday”. If these words from the classic song strike a chord with you, but you’re struggling to afford your typical summer holiday this year, you won’t be the only Brit in this unenviable situation.  

The cost-of-living crisis is squeezing the typical household budget as prices rise and savings are squeezed. There is a solution in the form of scrap gold. Did you know you can sell scrap gold for a profit? 

In this article, we will explain how you can release some quick cash and book that all-inclusive holiday for you and the family.  

Do you have scrap gold at home? 

If you or a family member has unwanted gold at home, we accept your scrap gold in return for a fair price. Gold is always in demand due to its finite nature and its appeal as a hedge against inflation for investors. 

We accept a variety of gold and other precious metals in different forms: 

• Jewellery – necklaces, rings, brooches, pins, bracelets, wedding rings 
• Damaged gold – broken chains, jewellery with missing stones 
• Other forms of gold – dental gold, medals, statues, lockets 
• Other precious metals – silver, palladium, platinum 

Whether you think you have any of these items at home or not, you might be surprised to discover that you have inherited gold from a family wedding, or have a broken necklace you no longer wear. So, don’t let your unwanted scrap gold gather dust in your jewellery drawer or attic when you can sell scrap gold with UK Scrap Gold and get paid in as little as two hours.

How much can I get for my scrap gold? 

Investors know that gold prices have spent the best part of the last decade rising steadily. The latest prices per gram are displayed on our homepage. Today (June 15^th) 24 carat gold is priced at £45 per gram. If you had 10g of 24 carat gold to sell you would make £450. 

We offer some of the best prices for scrap gold online.  

Online sellers: gold price comparison 

UK Scrap Gold – £17.29

Top Dog Scrap Gold – £14.54

Chards – £14.40

Best Price for Gold – £14.40

Sell your scrap gold in three steps

We aim to simplify the process of selling scrap gold as much as possible, allowing you to release cash from your sale in as little as two hours.  

To begin the process of selling your gold, calculate the value of your items using our scrap gold calculator, you can do this on our sell your gold page. Simply enter the weight of your items and their purity to get started. 

Step 2 is to send your precious metals to us by post. Please enclose the description form from our website. We always advise our customers to choose Royal Mail Insured Special Delivery for peace of mind. 

The final step is to receive your payment by FPS bank transfer – you could receive your cash within 2 hours. 

Are you ready to sell your gold?

If you are ready to sell your gold, please follow the steps laid out above. If you would like us to value your gold for you and send you our best price, please contact us and we’ll send you a quote. 

If you would like to meet us in our head office in Wolverhampton, we’d be happy to oblige, so please send us a message and choose a suitable time. 

Remember that old saying “Saving for a rainy day”? Well for many across the country that rainy day may have come as inflation continues to rise like a proverbial hot air balloon. Rather than saving your money in a bank account and watching your interest grow, you could be watching your savings increase by selling unwanted gold. 

The much in-demand yellow metal is always attractive to investors, particularly during times of economic crisis because gold is seen as an effective hedge against inflation. 

In this article, we’ll explore whether today is that rainy day and outline how you can sell scrap gold in just three simple steps. 

Sell your scrap gold in the wake of inflation 

The price of gold has risen 9% in 2022. Beginning the year on January 5^th at £43 per gram, today (May 26th), gold is priced at £47 per gram. This goes to show that the price of gold can rise quickly in a seemingly short time frame. 

This means it can pay to time your sale just right. By checking our gold price charts regularly, which are updated every day, you can follow the ups and downs of the gold price and time your sale when the price is high.  

Looking at the gold price at the time of writing, if you have 5 grams of 24 carat gold to sell you could net £235. Compare that to if you had sold at the beginning of the year, you would have made £4 pound less per gram, making £215 in total for the same amount of gold.  

Sell scrap gold today 

It is easy to sell your unwanted gold or other precious metals. From family heirlooms to dental gold, we accept a range of precious metals including gold, silver, platinum and palladium.  

For a clearer picture of what we buy read our FAQs. 

There are many reasons to choose Scrap Gold UK as your gold buyer, one being that we offer some of the best prices available online.  

Gold prices

Scrap Gold UK – £16.81

Top Dog Scrap Gold – £14.40

Chards – £14.22

Best Price for Gold – £14.40

Sell scrap gold in 3 simple steps 

Step 1: Value your precious metals 

You can value your precious metals using our scrap gold calculator, we also have silver, platinum and palladium calculators. You will require the weight and purity of your items to hand. To gauge the weight of your items you can weigh them with a set of household scales. Determine the purity of your gold by checking its hallmark, if you cannot find a hallmark we can still value your items for you. 

Step 2: Post your items 

Simply fill in the details of your items on our seller’s form. Enclose the form with your items in your package and be sure to post using Royal Mail Insured Special Delivery to ensure it arrives at our offices safely. If you do not wish to post your items, you can arrange an appointment with us at our head offices in Wolverhampton. 

Step 3: Receive your payment 

We can transfer your payment on the same day that we receive your items by: 

• FPS – receive within 2 hours 

If you have any questions, please do not hesitate to contact us, and we’ll be delighted to assist you.