Best and Highest UK Gold Scrap Gold & Silver Prices? Where to sell antique, vintage & modern Gold & Silver jewellery & scrap?
Well we do believe we pay highest and best "true" UK prices for gold and scrap gold, silver and watches to the Public and Trade. The word "true" is highlighted simply because there are many false high gold prices out there, designed to lure you in. Just as cheapest is not always best, beware of the under-weighers and cheats that often post too-good-to-be-true prices Just read our Google reviews if you are unsure.
Our price per gram is very high, but add to that these facts. We are a small family run business that has minimal overheads, no heavy staff costs and no fancy premises all things paid for by profit at your expense. .We do not charge fees, we keep weight loss, due to stones and wires to a minimum and we always identify the gold content correctly. And if you are still not convinced then remember our scales are trading standards calibrated and we weigh items right in front of you and of course our gold and silver calculator offers you an accurate price not an "up to" price.
Cut out the middleman, save up to £4 a gram (£400 on a 100 grams) and deal direct with us. NB re Local Jewellers, Antique Dealers and local Gold Buyers who buy Gold and Silver. The plus side of selling your gold to a local jeweller is convenience, however please be aware that many local jewellers sell their gold and silver on to gold buyers like The Birmingham Gold Company. This means that you may well receive a lower price for your gold as they have to make a profit . Many will tell you that your gold and silver jewellery etc are not "scrap" and they will sell them on, not for the gold weight but rather as "items" and yet time and time again we have been told that the price they offer you is BELOW SCRAP GOLD PRICE.The reason they try and buy your gold and silver below scrap price is that if they cannot sell your items on they then scrap them in with companies such as ours. Always check weights and price per gram offered. gold and precious metals price calculator to check for yourself. Read more below
Gold price, Scrap Gold price
The price of gold ie its value is set by international markets and is called the spot price. The spot price for gold can be defined as the current market price at which gold is bought or sold for immediate payment and delivery. It is differentiated from the forward price or the futures price, which are prices at which an asset can be bought or sold for delivery in the future. What affects the Spot price for Gold? The two obvious factors are the supply for gold and the demand for Gold. When the demand is high in relation to demand, the gold price rises and when the demand for gold is low in relation to the supply then the gold price falls. But unfortunately it is more complex than that. Gold is seen as a hedge ie a shelter when world markets and general conditions are in turmoil. large corporate investors, pension funds and unit trusts often take their assets out of currencies or stocks and shares and buy gold as a protection against downward market forces. When the stock markets and the currency markets are doing well they may well do the opposite.
One particularly strong influence on the price of gold is the US Dollar. When the US Dollar gets stronger, it takes fewer dollars to buy any commodity that is priced in $USD. When the US Dollar gets weaker it takes more dollars to purchase the same commodity. The price of gold, will change to reflect the fact that it will take fewer or more dollars to buy that gold. So often a portion of the change in the price of gold is really just a reflection of a change in the value of the US Dollar. . When the dollar gets strong, gold appears to go down, and vice versa. That accounts for part of the fluctuations that we see in the value of gold. The other part is an actual increase in the supply or demand for gold. If the price is higher when being measured not only in US Dollars, but also in Euros, Pounds Sterling, Japanese Yen, and every other major currency, then we know the gold demand is higher and it has actually increased in value. Consequently, if gold is higher in US Dollars while at the same time cheaper in every other currency, then we can conclude that the US Dollar has weakened, and that gold has actually lost value in all other currencies. But the price, because it is being quoted in $USD will be higher and give the illusion of gold becoming more valuable. In such a case the devaluation of gold, due to increased supply on the market, is camouflaged by a weakened US Dollar.
Who pays Spot price For Gold and Scrap Gold? The short answer is no seller receives the market spot price when they sell gold, scrap gold or gold bullion. Even if you were to sell half tonne of gold straight onto the international markets there will be commissions to pay, trading fees etc It is not possible to sell your gold for 100% of the market gold price. Gold processors such as the Birmingham Gold Company pay a very high percentage of the market spot price but even we have to make a profit. We pay 97% of the market spot price for gold and scrap gold which is about the best percentage the Public can expect to receive and we do NOT charge fees.
Scrap Price vs Cash For Antique / Vintage Prices..Scrap Gold or Silver price is NOT bottom price!. Cash for Vintage companies not only do not publish their prices they also offer considerably less than scrap. So if they can't re-sell your item as vintage or antique they still earn by selling the item to companies like us . We pay the highest prices for antique, vintage and modern gold and silver jewellery and scrap. How? We will pay even more than scrap for the right antique, vintage or modern gold or silver items and without the heavy fees charged by ebay and auction houses.Remember most pre-owned items of jewellery can be damaged and require refurbishment. eg shanks can be worn, hallmarks obliterated and stones may be chipped. More than this , most old items have chips/damage to the gold itself. The cost of refurbishment is often too high to be warranted
Where To sell Gold & Precious Metals
If you are looking to sell gold and silver, you are looking for the best gold and silver prices and a gold buyer that is fair and honest. There are many gold buyers to choose from these days as follows
1/ Local Jewellers, Antique Dealers and local Gold Buyers who buy Gold.
The plus side of selling your gold to a local jeweller is convenience, however please be aware that many local jewellers sell their gold and silver on to gold buyers like The Birmingham Gold Company. This means that you may well recieive a lower price for your gold as they have to make a profit . many will tell you that your gold and silver jewellery etc are not "scrap" and they will sell them on, not for the gold weight but rather as "items" and yet time and time again we have been told that the price they offer you IS BELOW SCRAP GOLD PRICE. The reason they try and buy your gold and silver below scrap price is that if they cannot sell your items on they then scrap them in with companies such as ours. Always check weights and price per gram offered You should be aware for example that your item weighs eg 10 grams and the scrap price is eg £120. Use the calculator on this site to check for yourself
2/ Sell Gold To Postal Gold Companies.
These should offer more but avoid them i/ if they don't have an actual address and ii/ if they don't actually state what the price per gram is. Remember you don't want "up to" prices or market spot price. That is not the price anyone in the world pays. All Gold buyers pay a PERCENTAGE of spot . You want to know their actual gold prices. You also want to check that if you for any reason do not accept their gold buying offer that your items will be returned to you asap free of charge, that way they do not have you over a barrel.
3/ National Gold Buyers.
These are companies further up the gold buying chain as it were. Always pick a national gold buying company, such as The Birmingham Gold Company that is situated in a gold buying area for example Birmingham's famous Jewellery Quarter The reason for this is simple. We compete with other gold buyers in the Jewellery Quarter and this competition keeps our gold buying price as keen as possible.
4/ Vintage Cash Buyers Vintage Cash for Gold Buyers.
You may be tempted to send your vintage antique or modern gold jewellery to vintage cash for gold buying companies that advertise heavily online. NB We have heard that they offer well below scrap for gold jewellery even though they go to great lengths to pretend that they pay more They do not. Not only that, they do not even advertise the price they pay for items whereas our online calculator is clear and transparent. We have heard many horror stories about the poor offers these vintage cash companies offer even with their fancy literature.Check out their name at Money saving Expert for example and as for reviews, they use companies like Trustpilot, and can remove negative reviews especially those relating to the poor cash offers made for silver jewellery. So instead got to Google Places enter the company's name and check out their reviews there. Google reviews cannot be doctored
5/ Auction Houses.
Some auction houses will tell you anything just so they can get your gold and silver jewellery and items on their books. Often these items sell for scrap prices and then you have fees to pay. Auction Houses should only be used to sell very special gold and silver items
Summary
There are many places that are purporting to pay the best prices for both Gold and Silver in fact its a veritable gold selling minefield. At the Birmingham Gold Company we offer you
1/ Transparent true prices. The price on our calculator is the gram price you will receive, but remember we do NOT pay Gold/silver prices for metal clasps, springs and of course stones.
2/ A fair and transparent Buying process
3/ An honest Google review system. Google reviews are the only online reviews that the business owner cannot tamper with or vet!
4/ A professional, reliable service without vague promises or offers.
Sell Your Jewellery - Hallmarking & Gold Carat Analysis
UK hallmarked gold is not an issue as the Assay office test every part of every gold jewellery item and when satisfied that the gold, whether it is 9 carat,18 carat, 22 carat Gold, meets the rigorous requirement on all parts of the tested gold item, they give a full hallmark.
It is an offence for a retailer to sell any product made of gold, silver or platinum in the UK unless it has been hallmarked, read more below.
But we do buy unhallmarked items and we do often get strange results. Items that are not hallmarked yet bought in the UK do not meet the legal requirement for a gold hallmark often because they fail to reach the required purity of gold,in every part of the item, ie the Assay office, an independent Government body, refuses to give a hallmark. The mark 22ct or 18k etc is not a full hallmark.
The same problem is true for gold and silver jewellery items bought outside the Uk in countries where the assay test is not as strict as the Uk assay, ege Turkey, Italy, UAE and so on.
We have included some photographs of our XRF spectrometer analysis of gold that was meant to be 22 carat. It is not our fault if some Asian shops in the Uk and overseas gold sellers cheat on the gold purity in their items.
NB All the below photos are meant to be 22 carat ie 22 Kt
CURRENT LEGISLATION
THE LAW – CURRENT HALLMARKING LEGISLATION
1973 The Hallmarking Act
The 1973 Hallmarking Act was the culmination of a very lengthy and complex process involving over 30 statutes relating to hallmarking, some of which had been adjusted or partly repealed. Many included requirements inappropriate to the new economic and social situation. An overhaul of legislation was well overdue. Eventually the Hallmarking Act 1973 was passed, championed by Jerry Wiggin MP, a descendant of a Birmingham family associated with the Assay Office for generations.
The new Act created the British Hallmarking Council, harmonised date letters, simplified gold standards and reinforced compulsory hallmarking for gold, silver and, for the first time, platinum.
The law applies to everything SOLD in the UK , regardless of where it may have been manufactured. The only exemptions are items which fall beneath the specified weight thresholds which are 1 gram for gold, 7.78 grams for silver, 0.5 grams for platinum and 1 gram for palladium.
This statute is reproduced with the kind permission of Westlaw UK.
Please check available services to see if this statute has been amended.
