Has anyone cashed any old gold in ?.... a guy i work with has just sold 42g of 9k gold for £406 on one of those send any old jewelry sites i think it was cashmygold.co.uk ........ my questions are

1. how do i know what karat my gold is ?
2. which is the best site/place to sell?
3. do you think i will get ripped off?

we had a quick look round and found a few broken old chains the odd earing and a gold watch about 50gs

i read a report recently that suggested they were even bigger ripoffs than cashconverters/webuyanycar

http://www.dailymail.co.uk/news/article-1212891/Firm-CashMyGold-buying-old-jewellery-gives-fraction-true-value.html

http://forums.moneysavingexpert.com/showthread.php?t=2084899

http://whatconsumer.co.uk/cash-my-gold-consumer-warning/

Take it to an established pawn broker or jewellery shop

[Edited on 26/5/10 by cd.thomson]

They measure the resistance of it and will give you the karat value from that.


Burglars must love those fences Break in post off and cash by return post

the site was cash your gold

http://www.cashforyourgold.co.uk/

which has a scrap calculator ..... will its karat be on any hallmarks

A few months ago I got together our (s)crap gold, old broken earings, knackered rope chains, everything was sh*te apart from an old 1/2 sovereign from a past life.

I got nearly £800 quid for it all from a local Jewellers (ok I know the Jeweller personally), so I know he gave me a fair price. But I was slartybartfested at the amount we got back - spoiled the kids rotten with it.

Happy days.

(a vote for your local Jewellery shop from me)

EDIT: Correction, the missus has just told me it was £600 I got (old age).



[Edited on 26/5/10 by Tipster69]

quote:

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Originally posted by woodster
the site was cash your gold

http://www.cashforyourgold.co.uk/

which has a scrap calculator ..... will its karat be on any hallmarks

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They give rubbish prices. It's quick and simple but if you've got some gold you'ld likely be better taking it to a local jewellers as they'll likely give you a better price.

The price of gold reached an all time high last week, it's a good time to sell.

Which? tries some recently - the conclusion was that you get more (by a large amount) from a local jewelers.

Regards
Hugh

SWMBO's used a local jeweller a couple of times, to either cas in old crap, or have it made into something else, very happy with the service / prices.

I personally wouldn't touch these postal services, posting a few hundred quids worth of gold in a bag advertising what it is!! no thanks.

quote:

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Originally posted by r1_pete
I personally wouldn't touch these postal services, posting a few hundred quids worth of gold in a bag advertising what it is!! no thanks.

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quote:

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Originally posted by iank

quote:

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Originally posted by woodster
the site was cash your gold

http://www.cashforyourgold.co.uk/

which has a scrap calculator ..... will its karat be on any hallmarks

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Yes, if you can read them its got from the three digit number in the rectangle.

http://www.gold-traders.co.uk/news/2008/01/simple-gold-hallmark-guide.html

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1. Hallmark on it (no hallmark means it's not gold btw) iirc they have hallmarks for silver too..

2. Probably jewellers

3. If you go to one of them places that advertise then yes. They offer bottom dollar. Surely there's somewhere on this internet that will tell you how much gold is worth by weight.

Aha linky! says £836 per Troy ounce (31.1g)

just an up date we took the gold to prestons of bolton for a price .... 30 grams ... £220 was their offer cheeky monkeys so we sent the gold to cash my gold on the internut £289 was deposited in the bank 2 hours later ...... so local jewelers is not always the best ..... easy money for broken chains and odd earings

A friend of mine sent some off and was offered £430 for the contents of the envelope. He declined and it was sent back. He went to a local second hand shop with an advert in the window and they valued it and gave him over £700 and one of the items, a watch was rejected as it was not good enough material even though it had a hallmark. They tested it with acid or some liquid according to him.

Ah, but i wouldn't recommend prestons of bolton - they sold me an engagement ring in a past life. What a rip off, we split up a couple of months later!!!!



(i do think it depends on the jeweller. Prestons isn't the sort of place i could see buying gold when i used to live in those parts).

quote:

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Originally posted by MikeR
Ah, but i wouldn't recommend prestons of bolton - they sold me an engagement ring in a past life. What a rip off, we split up a couple of months later!!!!

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All these "we buy anygold" type merchants are rip off merchants.

Weigh the gold, check the scrap gold price and work from there with a jeweler you can visit in person, and leave in person with your gold still in yer pocket!.
The post us yer gold people are poor value, and often difficult to get your gold back from, ie it takes ages for them to find it and rteturn it to you. Loads of bad press on these companies.

Be Warned!