Designer Jewelry Experts

How you go about selling your scrap gold really depends on exactly what it is you have for sale. If it is scrap in it’s traditional sense; for example the bonnet of a McLaren F1 – coated in gold for it’s heat reflective qualities, you may be quids in but you’ll have difficulty crowbarring it into a little plastic envelope.

Large quantities of such materials will be most cost-effectively processed by a specialist precious metal recovery company. Electronic components can contain traces of many precious metals, so there’s a possibility you could end up with more than you bargained on.

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.

There is certainly no shortage of companies willing to buy your gold at the moment. Former celebrities seem to be queuing up to cash in on their trustworthy images in tv commercials for gold buyers at them moment.

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.

In addition to reading the terms and conditions on their website, if you have decided to use a postal gold service pay special attention to the insurance value placed on the package you send them. If the value doesn’t meet your valuation be sure to ask the post office for additional insurance before sending anything.

Knowing the value of your gold before you despatch it to your gold buyer of choice gives you the confidence to haggle if you do not agree with their initial valuation. Many postal gold companies will not give you any indication of the price they will offer you (apart from the obligatory “we pay more” claims and guarantees). Be prepared to haggle with these people, often the initial valuation is not the maximum they are prepared to pay, they are simply chancing their arm so to speak.

Always remember that you can get a valuation from a local jeweller, in some cases they will offer to buy the gold from you. If the value they place on your gold is within an acceptable margin of what you calculated using our guide then you may save yourself a lot of stress posting your gold off into the unknown.

Brian Aitchson offers unbiased information and commentary on MyPrecious.co.uk regarding all aspects of Selling Scrap Gold including up to date Scrap Gold Prices