Selling old gold- where and how to sell??

[Ilikeyoursleeves]

I have some old gold chains and gold jewellery lying around that I will never wear (it was my mums who died years ago). I'm thinking of selling it but don't know if I should or not (investment wise, is gold good to keep?) or where to start looking for a place to sell it to.

Has anyone sold gold and if so where to? Or is something tangible like gold good to have / keep as an investment?

Thanks.

In London I went to hatton garden metals. Much better price than a high street jeweller. However the price of gold does go up and down maybe Google it

If you live near any SE Asian communities they usually have gold shops where you will get the value of the gold according to it's weight. Don't go to a high street jeweller or a scrap gold shop.
Yes gold is a good stable investment so if you don't need the money now I'd hang on to it.

To second this, Hatton Garden Metals also do a very good postal service and have regional drop off points. They're recommended on Moneysaving Expert and a relative of mine has used them and been very happy with them.

As for whether now is a good time to sell, you can see the historical gold price if you google, but obviously that's no guarantee of what will happen in the future.

TBH, I'd probably sell it as then there's no worry of it being lost or stolen and if it's literally only a few bits, it's unlikely to increase in value to a life changing amount that you'll regret selling.

Whatever you do don’t use a place like Ramsdens, Cash Convertors etc. These places offer rock bottom prices and rely on people being stupid or desperate.

I recently sold some gold after doing a bit of research in my local area. I sorted and weighed it before hand, checked the gold prices so had a rough idea of it’s worth. I was pleased with the amount I was offered. You can check on line what the price of pure, 18ct 9ct gold is selling for. The dealer takes a cut so you will get less but it gives you an idea.

I held onto some bigger pieces because I don’t really need the money right now. The gold I sold was odd earrings, broken chains etc that was never going to be worn and had no sentimental value to me.

I had mine remade into something new by a jeweller, relatively small cost because I was supplying the gold.

Thanks all. I went to Ramsdens today before I saw this thread update and yes they gave a very low offer. I've ordered a mail bag from Hatton Gardens as they sound good so think I'll go down that road. It's only a small amount of gold chains etc so think I'll cash them in rather than keeping them. Will report back with the difference between Hatton and Ramsdens!

Look at bullion dealers like Mastermelts or Cooksons for metal prices by the gram. Cookson has a non-trade price. It changes every day.

In times of conflict gold prices often rise and they are fairly high currently.

Approx £19/g (trade) for 9ct

Interesting thread. I no longer wear ‘yellow’ gold and have a fair bit sitting in jewellery boxes, which I was thinking of selling. Will you please come back and update the thread when you’ve sold yours OP? Thanks

@Kangarude yes I def will! Fingers crossed I get a decent price.

I second hatton garden metals. Have used them twice using the postal service and they definitely offered a good price and were really fast

.

You can look up the current price per g of gold online, then use a local jeweller if they're close enough to that price.

I suppose one consideration would be the cost of postage for small amounts as Hatton Garden deduct the cost of Royal Mail Special Delivery for getting the gold to them, which starts at about £8, but I think that would only be an issue for very small values and they're likely to be the best widely available option for even a few tens of pounds upwards.

Yes I agree postage costs were a nuisance. I waited until I was in London anyway then went along to their office/shop whatever. They were v friendly even the bouncer on the door! Basically the week before a high street jeweller offered me £40, hatton garden metals gave me about £120. I only had a small amount. Obviously high street jewellers have to take their cut. So if you are near london anyway....

Update!

Thanks to everyone to who recommended Hatton Garden Metals. I sent the gold off in their pack yesterday morning and I've been paid already!!

I got £1703 for around 98g of 9 carat gold! Not bad! I worked out the Ramsdens equiv would’ve been £1179! Just shows that shopping around literally does pay

Glad to hear it. I've used Hatton garden a few times and they are always quick.

That’s amazing. Well done and thanks for the update.
<rushes off to find my gold>

@Kangarude def sell it if you'll never wear it and it's just lying around. Great time of year to get a bit of extra cash

Thank you

Thanks for coming back and giving an update @Ilikeyoursleeves

I have lots of random bits of gold - do you have to tell them exactly what you're sending, eg what carat it is? How do you know?
And do they take silver?

@jesmonabullets
I've never scrapped silver but to give you an idea gold is currently £38/19 per gram for 18ct/9ct, silver is £494 per kg so unlikely to be v profitable.....unless you have loads!

The hallmarks tell you what sort of gold it is, but the likes of Hatton Garden Metals might also be able to test the items without damaging them using a special analyser.

@jesmonabullets I bought one of those eye magnifying glasses so see the hallmarks, you can Google what the hallmarks mean. '375' means 9 carat gold for example. I weighed it on my kitchen scales. I wouldn't bother selling silver unless you have loads of it, it's not worth much at all.

The Hatton Garden place have tests to see what carat it is, if you don't know