Where is the best place to sell Gold and Silver. Who pays the best prices for Gold and Silver? These 8 top tips will guide you in making the right decision to get you the best price for your gold and silver jewellery and scrap
1/ Sell Gold Prices Should be Transparent. Never sell your Gold and Silver to any gold buyer either online or in person, that does not publish transparent gold and silver prices ie via a calculator or in written form. "Vintage Cash for..." companies are renowned for this, saying they will buy your gold and silvcer as items but in reality they offer far less than scrap
2/ Sell Gold & Silver Calculators. Check Gold calculators carefully. Read the small print. Avoid trying to sell your gold and silver to companies that publish "up to" prices or who ask you to phone for an accurate price. Ask yourself what are they hiding?. Also check that the price isn't just the market spot price ie it is a price that will actually pay. No company in the world pays spot price for gold, they pay a percentage of it , so if they show spot price ask yourself why they are not showing the actual price they are paying Our calculator shows the price we pay (less if applicable non-gold metal weight and stones weight of course see below). Avoid companies that hide their gold and silver prices.
3/ Avoid Gold Comparison Websites. Never use gold comparison websites, they are rigged as a search on google will reveal. we know of a few gold comparison websites that list some very poor paying companies and even the winner pays 40% less for gold and silver than we do. often these companies have made up names like postyourgold4cash, that sort of thing.
4/ Avoid Gold Packs. Avoid companies that send out gold packs. Its a gimmick. You can pick up Special Delivery envolopes from the Post Office free of charge to post your gold and silver items and who do you think bears the cost of these gimmicks? You do, nothing is really free. the cost of these gold packs are taken off the price you receive for your gold and silver.
5/ Check Carat and Purity. Always check the carat and purity of your gold and silver and weigh them separately. . Group your items into the correct carat/purities before weighing each group That way you can use an "actual price" online gold calculator to get an accurate value of your gold and silver items, For more information on selling in this way see our sell gold guide or our silver guide
6/ Cut Out the Gold & Silver Buying Middleman . Avoid selling your gold and silver to local jewellers, antique dealers and gold buyers. Think about it. Local jewellers, antique dealers and local gold buyers simply sell on their gold and silver to companies like the Birmingham Gold Company who buy from the Trade all over the UK. They have to make a profit. Cutting out the middleman can earn you up to £5 per gram for 9 carat gold. That could mean an extra £500 on a 100 gram gold chain. Also do not fall for the "I'll buy your gold and silver as an item instead of scrap" line. Most local jewellers antique dealers and gold buyers will want to pay less than scrap price for your gold and silver. That way if they can't make a profit selling them on they at least they can make a profit by selling to companies like the Birmingham Gold Company
7/ When You Sell Gold and Silver By Post Always know your weights and carat and use a safe courier. Special delivery is best, But most importantly make sure that if you do not accept their offer ie because it is too low that they will return your items to you free of charge. That way they do not have you over a barrel. before sending off your items make sure you have split them into the right carats/purities and keep a not detailing these and of course the weights for each group. Do expect deductions for non precious metals in your gold and silver jewellery and scrap ie clasps, stones etc but this loss should be small
8/ When You Sell Gold and Silver In Person. If they take your items and weigh them in a back room instead of in front of you, alarm bells shoiuld be ringing. Make sure you are organised ie that your gold and silver items are split into carats/purities and that you know the weights. Do expect deductions for non precious metals in your gold and silver jewellery and scrap ie clasps, stones etc but this loss should be small. Always ask for any gold or silver test to be explained to you.