Scrap Gold .... where can I get the best money

[nowayjose]

Ive got quite a bit of scrap/unwanted gold Id like to cash in... has anyone used any of the postal companies out there or are they just con merchants.... any help would be great;)

[WelshMam2009]

Ive got quite a bit of scrap/unwanted gold Id like to cash in... has anyone used any of the postal companies out there or are they just con merchants.... any help would be great;)

 

I watched an item on the tv about this last week. In their tests, jewellers paid circa 25% of the jewellery's value, pawnbrokers 17% and the postal gold companies 6%.

 

Can't remember which postal company they used to be honest.

 

I would check their rates online at their websites...most post them up I believe. I would then send off only broken jewellery to them and see if you can offload anything wearable in a jewellers that sells second hand items.

 

Some companies also have shops you can walk into.

[SOD'EM]

Jewellers by far pay the most money. I think they all take scrap gold now.

I would stay away from all postal companies.

[diskmandave]

Sell your scrap gold for cash

 

I've used this one on a recommendation and can absolutely

pass that recommendation on, money in my account in less

than 24 hours.. 34g chain - £281 and the price has gone up since..

[MARTIN3030]

Dont use these postal services.

There was an investigation recently which showed these paying up to 75% less than high street shops.

 

 

H&T appear to be very good -go for a big chain (no pun intended)

On Merseyside Miltons are good.

 

As DMD says prices are changing fast.

 

I know someone who pawned some stuff last year and 6 months later bought it back paying the interest.

Next day he took it back in there and the value had increased so much it even more than paid for the interest he had paid last time.!!!

[banker_rhymes_with]

Hello Martin!

 

Really sorry to disagree, but I can say that I have had the best results selling Gold to a group who operate via a Web Site.

 

We had a reasonable amount to Sell (taking the family as a whole), and by far the best deals were to the Buyer we used.

 

We bought Digital Scales, and researched Hallmarks etc, so knew what we had and the exact weights.

 

We found the Jewellers in the High Streets were appalling, offering less than 45% of the value on average.

 

By comparison, the on-line Buyer openly stated their daily Gold Price, based on the Gold Fix and US-Sterling Exchange Rate, and they paid us what ever was the Gold Price on the day of delivery, if it had gone up before delivery, they paid the higher price.

 

I have absolutely no commercial links to them, and won't even mention who they are. But I can hint that they post the Gold Fix twice a day, and show what they pay for different Karat of Gold.

 

It's all based on 24ths anyway, so if you know the price for 24k Gold, then the less pure Karats can be calculated from 24k, i.e. 12k would be 50% of 24k's value.

 

Silver has crept up from 19p a gram to 25p, and Gold has shot up from USD 950 to maybe USD 1,200+ and they think it will hit USD 1,500 soon.

 

I just wish we had some left! But all we had has been sold to pay bills and keep a roof over our head.

 

But I can say the service from the buyer we used was 1st rate, they paid the correct sums, and it was in our bank account within 2 hours on the day they received the deliveries.

 

However, I can only vouch for the one I used, I think some of the others could well be a PITA, and should be used with extreme caution. If in doubt, send them a small amount, and see what you get.

 

My main point being that we found the Jewellers in the High Street to be very devious. They would not pay anywhere near the Scrap value, probably because they would only sell to the on-line Buyers themselves anyway!

 

I hope this helps.

 

Cheers,

BRW

Edited March 3, 2010 by banker_rhymes_with
Silver is higher, I just checked!

[MARTIN3030]

Interesting - I am sure you looked around first and got yourself the best deal-you have a knack of spotting things;)

Btw as regards the other little problem (if indeed it turns out that way) I am doing a little digging to quell any fears.

Edited March 3, 2010 by MARTIN3030
Typo

[banker_rhymes_with]

Hello Folks!

 

One thing I must say is...Gold is going up because people fear that Inflation is coming back soon in a big way.

 

Pump in Trilions of number-money into a Global Economy that was otherwise static in terms of Goods and Services, and the near inevitable end result will be rampant Inflation.

 

Ours jumped 3.5% recently, as a case in point.

 

So, Gold and other items are regarded as a safe bet, because they will tend to rise in value as Inflation goes up and up. Gold is intended to be a safe harbour to weather the storm.

 

For example, if you must eat Apples, and £1,000 buys you a ton of Apples, then when you start, £1,000 = 1 ton of Apples.

 

Then the banks mess up, and the World has Trillions of Number-Monies pumped into it to keep the bankers in bonuses...what effect do you think that will have on the Price of Apples?

 

If you are worried about inflation, and have a spare £1,000 to put into Gold when £1,000 is worth £1,000 and buys a Ton of Apples, then the aim is to preserve the value of your money...but in Gold, because Gold is relatively scarce and should hold its value.

 

12 Months later when the same Gold is worth £1,500 whereas a ton of Apples now costs £1,500, you would be short of money to buy Apples if you had kept the £1,000 stuffed under your bed!

 

£1,000 no longer buys what it once did. So, because you invested in Gold, you can sell the Gold and turn that back into cash but, in this case, you get a pile that is £1,500 big not £1,000 big!

 

You can then walk out and buy a ton of Apples, and not need any more Cash to do it, unlike your other mate who cannot now buy his ton of Apples because he kept his money under his bed.

 

On a bigger scale, this is why people are turning to Gold at the moment. Many think money will devalue, so they are seeking ways to preserve their wealth.

 

Right, the big problem for the rest of us, is this Gold Buying Frenzy will only last for as long as people think Inflation is coming back. If they get cold feet on that, for whatever reason, and the price of Gold stops shooting up, then the Gold Price on-line will disappear.

 

All the on-line Gold Buyers will vanish, and you will be back to trying to sell Gold to Jewellers, who will offer poor prices.

 

So, I would caution anyone thinking of buying Gold to take great care, the bubble could well burst, and when it does, what ever you have bought could sink in value.

 

If Gold is now, say, £23.80 a gram for 24k on-line, then once the bubble bursts, the on-line buyers will go, and you could well be unable to find anywhere to sell it who will pay more than 90% of the spot...and even that will start to fall. The swing could be 25% or more very quickly.

 

Right, for those with small piles to sell, now is a good time to do so. But watch the Spot Price (Today it's around USD 1130 or £755 Sterling per Troy Oz), because it's probably going to creep up for a while yet. If you can afford to wait, then I think you could get 15-20% more. But wait too long, and the price will collapse, and shoot past what you may get Today.

 

I hope this helps, no hard sell, I have no links to on-line buyers or Jewellers, I'm just a bloke who did some research when we had to sell off the Family Silver!

 

In our case, we could've got 10% more Today than we managed a few months ago, because Gold has kept going up. But, we had to sell when we did, we had no choice. If you can wait, wait, but don't wait too long for the above reasons.

 

Cheers,

BRW

[MARTIN3030]

If you think that you missing out on 10% was bad-just imagine how much GB has cost us by selling the reserves for peanuts.

Although .....if he did have it now he would be selling it off to prop the banks up again next time around:rolleyes:

[banker_rhymes_with]

Hello M!

 

Yes, I think Clown Brooon sold off our Gold when it was less than 20% what it is now.

 

That was one hell of a mistake.

 

Cheers,

BRW

[sequenci]

Man, I am craving an Apple right now.