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Do I sell all my gold now or wait

9 replies

Carla878 · 11/10/2022 19:54

Hi all
I have tons of gold jewellery accumulated over the last 25 years.
A lot of it I don't wear ant more....what should I do?

OP posts:
Snog · 11/10/2022 20:27

Sell

parietal · 11/10/2022 20:30

Sell one item each month. That way you'll even out changes in price of gold.

But make sure you put the money in an ISA with a good interest rate. Don't just fritter it away on coffees

MsPrism · 11/10/2022 20:31

I would sell too - then put money in savings - but I could be wrong!

Carla878 · 12/10/2022 00:33

Thanks guys. I didn't know whether to sit on it for a while and keep it for future investment or cash in now x

OP posts:
MrsPelligrinoPetrichor · 12/10/2022 00:34

How much are we talking? I'd buy premium bonds with it.

Carla878 · 12/10/2022 00:42

It's a ridiculous amount to be fair lol. I grew up with my parents loving their gold too but now it's time to think about maybe doing something with it. If anyone has photos of their gold I would love to see xx

OP posts:
Brokendaughter · 12/10/2022 01:07

Current scrap prices from a very reputable dealer who pays really well (prices change all the time depending on current spot price of gold so these may not be valid by the time you read this)

£15.61 per gram for 9ct hallmarked.
£24.25 per gram for 14ct hallmarked.
£31.09 per gram for 18ct hallmarked.

Will be lower if not hallmarked.

If there are stones involved, their weight won't count towards the gold scrap price & the stones may be almost worthless by themselves depending on type/size/quality/style.

Unless it's very particular pieces with a high resale value as a piece of jewellery usually because of it's maker, you are selling it for melt price as that's all it's worth, which is going to be lower than intrinsic value as it needs melting/processing etc..

Disreputable companies will offer much lower prices than that.

Sort out what you have, stick it on a scales by carat to get a very rough idea & see if you think it's worth it.

Please bear in mind that precious metals prices are much lower than jewellery is priced.

.925 hallmarked silver has a scrap value of around 30p per gram.

Boopeedoop · 12/10/2022 01:37

Get a price from Hatton garden metals online. I always found them better than high street buyers.

thebabessavedme · 12/10/2022 09:09

Whatever you do shop around, I recently sold a 1950s gold and ruby bracelet, I never wore it, wasnt my style but I could see it was a fantastic design and it would have been a shame to melt it. I was offered over 2k at scrap value but ended up selling it to a specialist jeweller for 3k. I presume he knew he had a buyer for it and made himself a profit however I was happy with what he offered and pleased it wasnt broken up. wins all round.

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