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Today's 9ct gold price is:


£ 0.00 p/gram
 
 
(grams)
 

* Prices quoted are for hallmarked gold
    


Sell Gold
     
 

Selling Your Gold
 
We provide you with all the information you need regarding selling your scrap gold. We aim to provide answers to all of your questions and help you on your way to making an informed decision as to how, where and when to sell gold.

Once you know the market value of your gold (see our guide on valuing your gold), you need to decide how you are going to sell it. For a long time (and still today), people would sell gold jewellery into their local jewellers and accept any price they were offered.

Why choose Yourgoldbuyer.co.uk?

Today, there are many choices open to you if you want to sell your old gold jewellery. With the internet, you are able to shop around and make an informed decision as to what your scrap gold is worth and the best price you can get for it. Generally, if you want to obtain the best price for your old gold jewellery, you can find thousands of online gold buyers. Online gold dealers will generally offer the best prices because, unlike shops, they have lower overheads to cover and are happier with smaller margins.

However, you need to choose from the many gold buying websites that are online today. You need to choose an online gold buyer that you trust to sell your old gold jewellery to. Yourgoldbuyer.co.uk has been online since the very start of the internet boom. We are transparent about what we pay and offer clear guidance on how your gold will be valued (see below on valuing your gold). We have spent time compiling guidance on how to calculate the value of your gold and encourage you to read on so that you are able to make an informed decision about selling your old gold jewellery.

We have customers who use us time after time to sell their old gold jewellery. We offer a personable service and are happy to answer ANY questions you may have regarding selling your gold jewellery. We welcome our customers to come and visit us at our headquarters in London to meet our team in person and watch the valuation process in action. Sell your gold and receive cash on the spot.

If you are unable to travel to our headquarters, then we offer the same personalised service through our postal service. We ask you to put your trust in us when selling your old jewellery because we are at the end of the phone line to discuss your gold selling requirements at any time.

We are gold buyers who do not ask for any commitment from you if you wish to try out our service. Simply send your gold to us and if you are not happy with our gold offer, we will send the gold back to you, no questions asked.

We have perfected the art of gold buying over the years to make selling your gold as simple as possible for you…. It will not be long until you have the cash in your hand…. Satisfaction guaranteed.

Why sell your scrap gold?

Gold is an investment, it always retains its value.

Many people have old gold rings, earrings, gold necklaces, bangles, charms, pendants, broken gold chains, old gold watches or gold watch cases, or other items made from precious metals. Often these pieces of gold jewellery or other items are out of fashion, are broken or worn, & not worth repairing. They sit in the bottom of drawers, forgotten and unused.

In the past, people whose businesses prospered would take gold or silver coins to the local goldsmith and have them melted down and turned into useful objects - maybe cutlery, candlesticks, trays, etc. When times were harder those objects would be taken to the local mint, melted down, and turned back into coins.

This is exactly what happens today with scrap gold consisting of old gold jewellery, coins, and other gold items - a gold buyer will buy the scrap gold, melt it down, and then use it to make something else.

Since gold & other precious metals always have value (although the value of precious metals is constantly fluctuating), it makes sense for a gold buyer to buy old gold & re-use it. Some people also buy scrap gold as an investment since they can buy it at very close to the official gold price (the spot price).

How much will I get for my scrap gold?

The price that you'll get for your scrap gold is determined by a number of factors, including whether your gold is 9ct, 14ct, 18ct, 22ct, or 24ct and what the current price of gold is.

Valuing your gold

Gold is like money, it has a high intrinsic value and is very liquid. This means that it is easily converted to cash at very near its market value.

Market Value

Gold is a commodity that is bought and sold on the commodity markets and so has a market value (such as stocks and shares). But what is the market value?

Manufactured jewellery, that is the jewellery you have at home, has assorted costs when purchased at the shop. We all know those. Materials (gold, in this case), labour, factory costs, sales and marketing, retail margins, transport, and much more. When this item enters the second hand market nearly all of those, except the gold value, are lost.

To calculate the value of gold you need three pieces of information.:

  • The carat of the gold
  • The market value of gold (‘spot price’)
  • The weight of the gold (which you can easily find out by putting your gold on some scales)

The carat of the gold

The term carat refers to the fineness of gold. This is quoted as a number and refers to the fineness of gold in parts per 1000. There are many carats but below are the most common. The odd ones can be easily be calculated using following:

  • 1 carat gold is 1 part in 24 gold. For example, 9ct is 9 parts in 24 gold or 9/24ths or if you multiply 9/24 by 1000 you get 375 gold.
  • 8ct or 333 (parts per 1000) is 33.3% gold (usually Eastern European)
  • 9ct or 375 (parts per 1000) is 37.5% gold (UK)
  • 10ct or 416 (parts per 1000) is 41.6% gold (USA)
  • 12ct or 500 (parts per 1000) is 50% gold (usually old watch cases)
  • 14ct or 585 (parts per 1000) is 58.5% gold (mainly Asian)
  • 15ct or 625 (parts per 1000) is 62.5 % gold (discontinued since 1935)
  • 18ct or 750 (parts per 1000) is 75% gold (UK)
  • 22ct or 916 (parts per 1000) is 91.6% gold (mainly Asia)
  • 24ct or 1000 (parts per 1000) is PURE gold

 

Gold comes in many colours depending on the other metals used in the alloy. The value does NOT change because of the colour. The amount of gold is the same. White or Rose are just variations.

Most gold is stamped or hallmarked with its quality, but sometimes these marks are lost through wear or repair. Any item brought in the UK from a reputable jewellers should be hallmarked by the British Assay office. This gives you a guarantee of the gold weight in the item. Some gold jewellery may not be hallmarked by the British Assay office if it was brought outside the UK.

When looking at hallmarks make sure that certain marks are not on the piece. Things like EP, GP, HGP, (Electroplate, gold plate, hard gold plate ) and “rolled”. As the names suggest, these are not solid gold.
 
A few other numbers to avoid are 800, 925, 950. These are all silver marks.
Even if it is stamped, there are forgeries. Not many, but some. Most fakes are very heavy.

The weight is an obvious factor. Generally it’s quoted in grams. There are 31.103 grams to a Troy Ounce which is used for precious metals.

You can easily find out the current price of gold from a website such as cooksongold.com. This price changes daily. The prices quoted are in ounces for solid gold so you need to convert this amount to grams so that you can calculate how much your gold is worth.

To change ounces to grams, divide the amount quoted on the website by 28. This will give you a price per gram. If you have, say 9ct gold, multiply this by 37.5%. For any other carat weight, use the percentages listed above.

The Calculation

This is the easy bit! Multiply the carat weight per gram (calculated above) by the weight of the jewellery you have and you have calculated the market value of your scrap gold.

How much money can you get for your gold?

So you have the gold value of a piece of jewellery. What’s it really worth? You will never receive full gold value when you sell to a gold buyer. If you sell to an online gold buyer, you will get very close to that value. From a jeweller or pawnbroker you will probably get much less as they have higher overheads to cover.

You can trust yourgoldbuyer.co.uk because we are transparent about what we pay. For hallmarked gold jewellery we offer 80% of the spot price. For unhallmarked gold jewellery, we offer 70% of the gold spot price. As a basis for comparison, most jewellery shops or pawn brokers will offer anything between 40% to 60% of the gold spot price. We strive to keep our costs as low as possible in order to offer you the best price for your gold.

All the above refers to solid gold jewellery without precious gems. Precious gems generally have very little resale value. When you sell your scrap gold jewellery, the gold weight is calculated on an estimate of the gold jewellery without the stones.

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About Us
 
Your Gold Buyer offers a hassle free way to get cash for gold online. We are one of the top scrap gold buyer in the UK.

Our business has been established for over 10 years and we deal directly with the largest gold refiners in the UK to offer you unrivalled prices and an unbeatable service.

You can see by checking our gold calculator that we pay the highest prices for your unwanted jewellery and precious metal waste.

We want you to be completely happy with the services we provide.We aim to provide a hassle free service so that our customers return to us time after time.
 

What our customers say about us
 

I am delighted. I sold my gold jewellery, receiving enough cash to go on a nice holiday ! I found the whole process really easy and the customer service fantastic - definitely recommend it

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Got Gold ? You can Sell Gold for Cash
 

Call it the 21st century gold rush. Several companies have set up shop on the Internet to give consumers cash for their unwanted gold jewellery, coins and other gold items that have been gathering dust. They are in the business of dealing in scrap gold, which is melted down in refineries, formed into gold bars and sold on the commodities market before it is eventually transformed into new jewellery along with products used for industrial purposes.

In addition to gold, some online companies also buy unwanted silver and platinum items.

Online Gold buyers contend they can provide consumers with convenience, anonymity and a better price for unwanted gold compared to what is offered by pawnbrokers. Not surprisingly, pawnbrokers have a different take.

Prices paid for scrap gold are based solely on the actual gold's weight and its purity as measured by karats. The higher the karat, the higher the value of the gold. The buyer also subtracts a profit margin.

"The gold is valued not as jewellery but valued as to the pure gold content in the jewellery. The average person sells between one and two ounces of gold," said Michael Gusky, founder of Florida-based GoldFellow.

In the spot market, gold has been selling in the range of $800 per troy ounce but that's for 24 karat gold, which has a purity level of more than 99.99 percent. For an ounce of 14 karat gold, which has a purity level of 58.3 percent, consumers would be getting a fair price for scrap gold if they received at least $230 when gold's spot market price is $800, observers say. Gold reached a spot market price of $1,000 for the first time in March but prices have dropped in recent weeks.

So what are people sending?

"We seem to get a lot of gold fillings. There are a fair number of coins but by and large most of it is rings, necklaces and earrings, things of that nature," said Jordan Serlin, vice president of operations for publicly traded Money4Gold Holdings Inc., the Florida-based parent company of Dollars4Gold. "Frankly, the anonymous nature of this allows people to do this out of their home. Some people have said, 'I don't want be seen going into a pawn shop.'"While Dollars4Gold's Web site features testimonials from customers, the company was unable to find a local seller who was willing to be interviewed for this story. Serlin surmised that was because sellers like to maintain their anonymity.

Internet gold buyers, who have to comply with mail fraud regulations and laws that apply to buying precious metals, provide insured mailing envelopes at no cost to consumers so they can send in the gold, which can include broken pieces. Its design value is irrelevant. After the gold is appraised for its actual weight and purity, a check is sent back to the consumer. If the consumer does not accept the payment and returns the check, the items are sent back. An ounce of gold is equal to 20 pennyweights, which is the measure typically used by scrap buyers to calculate payouts to consumers. For more specific information, check out the Web sites of individual online buyers.

Dollar4Gold's business model of selling gold directly to a refinery that happens to be its parent company's largest stockholder cuts out the middleman, according to Serlin.

"We can provide our highest payout to the customer, depending on the quality of the item they send us," he said.

Not if you ask T.J.. Grossi, owner of Pleasant Hill Coin and Jewellery Exchange. Consumers can get a better price by taking their gold to his pawn shop where the buying happens inside the store, he said.

"Not only that but the consumer gets the benefit of haggling with me. It's an open dialog," said Grossi, who also takes into consideration whether a gold item would have more value as piece of resale jewellery than scrap metal.

A little education goes a long way when selling gold, experts point out.

Consumers should check with a local chapter of the Better Business Bureau to see if any complaints have been lodged against businesses that purchase gold, whether it is a pawn shop, jewellery store, coin shop or online buyer. They might want to have their gold appraised by a local buyer before sending it to an online firm.

"Any time you are dealing with precious gems or gold, it probably behoves you to get more than one opinion," said Kevin Flanagan, spokesman for the state Department of Consumer Affairs.

As far as gold coins are concerned, consider taking them to a coin shop first. It's possible they could have a collection value higher than their scrap value.

Keep tabs on what gold is selling for on the spot market by going to http://www.gold.org. That will help you evaluate the fairness of the scrap price being offered for your gold.

While it's easy to check gold's spot price, many online buyers do not provide consumers with specific information as to what they actually pay for scrap gold.

The reason that Dollars4Gold has that policy is because the spot price of gold changes on a daily basis, according to Serlin, adding that its average payout for gold sent in from the Northern California area ranges from $200 to $250.

   
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