Sell Gold & Silver FAQ's | Birmingham Gold Company
Sell Gold & Silver FAQ's
Welcome
Below you’ll find answers to common questions about selling your gold and silver with Birmingham Gold Company.
Q. Where is the Best Place to Sell Gold in Birmingham & the UK?
A. The Birmingham Gold Company. We offer top rates, a transparent process, and fast payouts. To get the best value:
- Research: Compare multiple buyers.
- Check Reviews: Read customer feedback.
- Know Your Gold: Be aware of weight and carat.
Q. What Gold/Silver Items Will You Buy?
A. We buy all gold, silver, and platinum items—including broken, unhallmarked, scrap pieces, watches, diamonds, designer jewellery, and rolled gold.
Q. Do You Pay More Than Scrap for Certain Items?
A. Yes. Saleable, undamaged items may fetch above scrap value. See our “Is My Item Worth More Than Scrap?” page.
Q. Do I Need to Make an Appointment?
A. No—walk-ins welcome, unless you are selling more than £5000. Appointments help if you’re traveling far. Our counter is safe and Covid-compliant.
Q. Do I Need to Bring ID?
A. Yes—one form of photo ID (passport, driving licence, bus pass, work ID, etc.) is required.
Q. Is There Parking Nearby?
A. Yes—on-street bays and an NCP multi-storey car park are within 100 yards of our office.
Q. How Long Will the Transaction Take?
A. Most transactions complete in 20 minutes. Larger amounts or additional testing may take longer. Queues can occur.
Q. Can You Test My Gold/Silver Items On-Site?
A. Yes. Most tests are done on-site. Complex items may be retained for further analysis, and you’ll always get a receipt.
Q. Do You Charge for Testing?
A. No—testing is free unless multiple items are brought solely for carat identification, in which case a small fee may apply.
Q. How Do You Test Gold & Silver?
A. We use traditional nitric acid tests and a Niton XRF analyser for precise metal analysis.
Q. What Fees Do You Charge?
A. None—absolutely no fees at all.
Q. What If the Gold Price Changes?
A. We base offers on the London Fix price The price we pay is our calculator price at the date and time of the transaction.
Q. Is Special Delivery Safe?
A. Yes—Royal Mail Special Delivery is insured with a 99% success rate. Insure your items for their full value.
Q. Can I Trust You With My Gold?
A. Yes—we’re VAT-registered (No. 990 7386 73) and have paid out over £45 million to 8,000+ customers. You’ll receive a full receipt with payment.
Q. What If My Items Are Not Gold?
A. If you want non-gold/silver items returned, we charge £10 to cover postage.
Q. Why Don’t You Send Out a Pack?
A. We avoid costly TV ads and packs so we can pay you more. Many “free pack” services hide postage fees in the small print.
Q. How Do You Pay?
A. By bank transfer or cheque for postal sales. In-person with valid ID, we can pay cash.
Q. How Quickly Will I Be Paid?
A. We aim for same-day bank transfers; allow up to 24 hours for security checks. Cheques post within 1–2 days.
Q. Do You Buy Scrap from Catalysts, CPUs, Etc.?
A. Yes, when market conditions allow. Call us at 0121 448 0488 to discuss bulk or trade materials.
Q. What Are the Tax Implications (CGT)?
A. CGT is a tax on profit from disposing of assets like bullion or scrap metals. For 2023/24, the annual allowance is £6,000; profits above that are taxed at 18–28% depending on income.
Q. Do I Pay CGT on Bullion & Scrap?
A. Yes—bullion and scrap are taxable if profits exceed your allowance. UK legal-tender coins (e.g., Sovereigns, Britannias) are exempt.
Q. Which Coins Are CGT-Free?
A. Royal Mint legal-tender coins (Gold Sovereigns, Half Sovereigns, Britannias, Silver Britannias) are exempt. Scrap gold and silver are not.
Q. Where Can I Learn More?
A. For full details, visit GOV.UK CGT guidance. Always consult a financial adviser for personal advice.
Q.Where is the best place to sell gold coins?
A. The best place to sell gold coins is at a trusted, specialist buyer offering live market rates and immediate payment. At the Birmingham Gold Company, we buy sovereigns, krugerrands, and other gold coins both in person and via secure post.
Q. Can I sell my old or foreign coins?
A. Yes, we buy both old and foreign coins made from gold or silver. Bring them into our Jewellery Quarter office or use our postal service for a quick, free valuation.
Q. Do you buy silver coins as well as gold?
A. We do. We buy pre-1947 UK silver coins, bullion silver coins, and other silver-based collectables. Check our live silver price calculator for a guide or visit us in-store.
Q. Can I sell my luxury watch for cash?
A. Yes. We offer competitive, immediate quotes for Rolex, Omega, and other luxury brands. Payment is made on the same day, either by cash or instant bank transfer.
Q. What’s the best way to sell my watch near me?
A. For Birmingham-based clients, visiting our Jewellery Quarter office is the quickest option. For those further away, we offer a fully insured postal watch-buying service.
Q. Do you buy non-working or vintage watches?
A. Yes, we buy both working and non-working watches, including vintage and antique models. We assess the value based on brand, condition, and gold/silver content.
Q. Can I sell a gold pocket watch for cash?
A. Absolutely. We buy all types of gold pocket watches and pay based on their gold content and collectable value. You can visit our Birmingham office or use our insured postal option.
Q. What types of gold pocket watches do you buy?
A. We buy full hunter, half hunter, open-face, and key-wind gold pocket watches—whether they’re 9ct, 14ct, 18ct or higher. Branded models may attract a premium.
Q. Do you buy broken gold pocket watches?
A. Yes. Even if a gold pocket watch isn’t working, it still has melt value due to the precious metal. We’ll provide a free quote based on weight and purity.
Q. Do you buy silver pocket watches?
A. Yes, we buy solid silver pocket watches including sterling and coin silver models. The value depends on the silver weight, hallmarks, and overall condition.
