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Archive for the ‘Selling Tips’ Category

Bullion by post

On the face of it, the concept of sending your bullion by post to a remote Internet business like us seems a crazy idea! Hopefully, this article will serve to allay some of your fears and explain how our process works.

Should I send my bullion by post?

We’ve been in business since 2008 and have seen many postal ‘cash for gold’ / bullion dealers come & go. Whilst they always relied on paid Internet advertising and high profit margins (to pay for the advertising), we have steadily grown our business by paying excellent rates, staying small and lean to keep our margins low and offering an exemplary service.

Sending and insuring your bullion by post

The crucial element to a safe and efficient bullion sale is using the correct shipping method. Royal Mail Special Delivery is a very safe and secure method for shipping high value items. Over the 11 and a half years we’ve traded this way, we’ve never had a Special Delivery parcel disappear in transit, and we’ve dealt with thousands of parcels!

An individual Special Delivery can be insured to a maximum value of £2,500. If your coins or bullion amount to a greater value, you may want to consider splitting them across multiple packages. Some customer do this, many don’t.

When you take your package(s) to the Post Office, the counter staff will most likely ask you to disclose the contents. Sending bullion by post is perfectly acceptable, they’re asking to ascertain if you’re sending anything prohibited, such as batteries or blades.

Special Delivery is a guaranteed next day delivery service (Monday to Friday). If you ship a package on a Friday, you’ll be given the option to pay extra for a Saturday delivery, however we suggest you decline this option. Your package won’t be processed until Monday anyway and due to the relationship we have with our delivery office, we’ll likely receive your package on Saturday anyway.

Buying bullion by post

There are many dealers offering the opportunity for you to buy bullion by post. For most customers, price is the deciding factor. As gold is an internationally traded commodity, it’s easy to calculate the base (or ‘spot’) price for a coin or item of bullion.

Incidentally, if you want to know the spot price of a gold Sovereign, take a look here.

What you’re looking for is a dealer who can offer you bullion at the lowest margin over spot. We pride ourselves in offering some of the best prices within the market. Why not give us a call and see if we can meet your requirements?

Trade counter

If, after all our re-assurance, the concept of selling or buying bullion by post is still a step too far, then you still have the option of visiting us to deal face to face. Our trade counter opening hours are from 10.00am to 3.00pm, Monday to Friday and 10:00am to 1:00pm on Saturday.

We look forward to serving you in the near future.

November 7th, 2019 No Comments » Selling Tips |

Selling pre-decimal coins by weight vs face value

Pre-decimal silver coin valuation calculator

Value your coins with our pre-decimal silver coin valuation calculator

It’s very common to see dealers offering to purchase pre-decimal silver coins based on their face value. Typical deals offered are 8 to 10 times face value for pre-1947 coins and around 20 times face value for pre-1920 coins.

We receive many enquiries from customers who’ve worked out the face value of their coins & had a quote from a local coin buyer & then contact us to get a comparative quote. This can often be quite tricky for us, as we pay by weight and the customer won’t know the weight of their coins & don’t have sufficiently accurate scales on which to weigh them.

To solve this problem, we’ve produced a handy pre-decimal silver coin valuation calculator. All you have to do is enter the face value of your coins & we’ll calculate the estimated value based on our current silver payout rates. If you want to compare the amount we’re offering against a local coin dealer, you can enter their quote into our form and we’ll compare their offer with ours. We’ll even take into account your postage fees so that our comparison is a fair one.

Get the best deal

From our own comparisons, we’re paying anything from 25% to 75% more than high street coin buyers. Our rates are clear and we pay out on the day we receive your coins.

Pre-1947 silver coins

All silver coins minted from 1920 to 1947 contain 50% silver. The remainder of the alloy mix is mostly copper with a small amount of zinc and nickel.

Due to the increasing cost of silver, the Royal Mint debased all silver coins in 1920 from 92.5% silver to 50% silver. From 1947, silver was removed entirely from all coins and replaced with a copper / nickel alloy mix.

Pre-1920 silver coins

All silver coins dated 1919 and earlier are 92.5% (Sterling) silver. The remaining 7.5% of the alloy is copper.

September 11th, 2015 No Comments » Selling Tips, Silver |

How much is rose gold worth per gram?

A common misconception is that rose gold is more valuable than yellow or white gold. However, its colour is altered by the other metals the gold is alloyed with. The amount of gold contained in a piece of rose gold is exactly the same for a comparative piece of yellow or white gold of the same purity.

Pyramid illustrating how the colour of gold is changed

The colour of gold is altered according to the ratio of copper, zinc and silver added.

This pyramid illustrates how the colour of gold is altered. Gold jewellery is typically made from an alloy (mix) of the following metals:

  • Gold
  • Copper
  • Zinc
  • Silver

As already stated, the amount of gold used is fixed according to the purity (or carat) of the gold. Therefore, it’s the mix of the other metals that changes the colour. With rose gold, more copper is added & less zinc and/or silver is used. With white gold, less copper is used and more zinc and/or silver is added.

It’s worth noting that white gold isn’t truly white, it’s still a very pale yellow. The perfect silver/white appearance of white gold is achieved by giving the item a plating of rhodium. So, bear in mind that over time that rhodium plating will wear away and reveal the true colour underneath, at which point you’ll need to get it re-plated to restore it to its original colour. If this is likely to be an issue, it’s probably better to consider having the item made of platinum or palladium instead.

The value of 9ct rose gold per gram

Like 9ct yellow gold, 9ct rose gold contains 37.5% gold. A typical piece of 9ct rose gold will be made from the following alloy of metals:

  • 37.5% gold
  • 55% copper
  • 5% silver
  • 2.5% zinc

Gold-Traders is currently paying £ for all 9ct gold.

The value of 14ct rose gold per gram

14ct rose gold is 58.5% gold.

Gold-Traders is currently paying £ for all 14ct gold.

Please be aware that 14ct gold is very popular in countries such as Greece. However, whereas jewellery purchased in the UK is subject to very strict hallmarking legislation that guarantees the purity of the item, such rules do not exist in Greece. Through our own experience, it appears to be common practice for a piece of Greek jewellery that’s stamped as 14ct gold only to contain between 50 – 55% gold.

The value of 18ct rose gold per gram

Just as 18ct yellow and white gold contains 75% gold, so does 18ct rose gold. The remaining 25% of the alloy is mostly copper with a very small amount of silver and/or zinc.

Gold-Traders is currently paying £ for all 18ct gold, for both hallmarked and non-hallmarked items.

 

August 21st, 2015 No Comments » Gold, Selling Tips |

Selling Masonic jewellery

Masonic ball fobs in 9ct gold

Masonic ball fobs in 9ct gold

A Masonic jewel, ring or fob will have been a treasured possession by its owner. When such items pass to family members, they are often disposed of, as they may have little meaning to their new owner.

Commonly made of gold and / or silver, when such items pass to family members, they often, sadly, find their way to scrap gold buyers who are purely interested in their metal content. Inevitably, this means the item will be melted down and lost forever.

If you are considering selling any Masonic jewellery, please contact us first. Not only will we pay higher than ‘scrap’ rates for any Masonic items, we’ll also ensure that Masonic items are given a new home – which is what the original owner would have wanted.

We are always interested in the following items:

Masonic ball fobs

Worn on watch chains from the early 1900’s, Masonic ball fobs are usually made of gold and / or silver. The ball opens out into the shape of a cross.

Past Master jewels

Worn to signify a Master Mason has held the rank of Worshipful Master, Past Master jewels are often made of gold. A jewel will usually be engraved with the owner’s name.

Masonic rings, pins & cufflinks

There has always been a huge array of Masonic jewellery to choose from, from rings, tie pins, cufflinks and watches. As with any other Masonic item, please don’t sell these for standard ‘scrap’ prices as you will receive a much lower price.

Other Masonic items made of gold or silver

It is impossible to compile a full list of all things Masonic as such a list would go on forever! Suffice to say, any item of jewellery, gold or silver that is large enough to accommodate a square and compass will probably have been produced in Masonic form at some time or other.

Give us a call to discuss the sale of all things Masonic. It’s always without obligation and we will certainly offer you far more than other gold buyers.

January 16th, 2014 2 Comments » Selling Tips |

The scam behind the gold buying comparison websites

The top five companies listed on this comparison site are all affiliated to the site itself.

A price comparison website is supposed to give you honest and impartial information to help you locate the best deal, right? No so with with gold buying comparison sites.

A recent BBC programme discovered the site they investigated was rigged and listed prices from companies they were affiliated with. Our own detective work has revealed other so-called ‘comparison sites’ can’t be trusted.

The BBC investigation, broadcast on Radio Four’s ‘You and Yours’ programme, followed a number of complaints about the service and deals offered by scrap gold companies on the gold buying comparison website, www.compare-the-gold-price.com.

False promise and low prices

The company highlighted in the investigation and one of ten then appearing on the compare-the-gold-price.com website was www.cash-for-gold.co.uk. On their own site, cash-for-gold.co.uk promise “more per gram than any other gold buyer”.

However, all the programme’s participants received offers from cash-for-gold.co.uk that were significantly lower than they expected, and often lower than the cash-for-gold.co.uk’s online gold calculator said they’d receive. In one case, broadcast on the Radio Four programme, cash-for-gold.co.uk only offered £845 for gold items that were actually worth £2,200.

All the participants had found cash-for-gold.co.uk listed as one of the ‘top ten’ gold buying companies on compare-the-gold-price.com. They’d chosen cash-for-gold.co.uk as, at the time, it offered the highest price on the site.

Rigged and artificial prices

Listen to the BBC Radio 4 You & Yours investigation into gold price comparison websites

However, as the BBC’s investigative journalist discovered, the top listed gold buying companies listed on the compare-the-gold-price.com were all run by, or connected to the same individuals. This meant the comparisons were artificially rigged, and a scam.

Additionally, the prices per gram shown on the comparison website hadn’t changed for several months, despite the actual price of gold fluctuating on a daily basis.

Our own investigations have also confirmed that the owners of compare-the-gold-price.com are also connected or affiliated to the following websites:

  • The British Gold Refinery – britishgoldrefinery.co.uk
  • The London Gold Refinery – londongoldrefinery.co.uk
  • We Buy Asian Gold – webuyasiangold.com
  • Cash Your Gold – cash-your-gold.co.uk
  • Daddy Cash for Gold – daddycashforgold.co.uk
  • Best Price for Silver – bestpriceforsilver.co.uk

Incidentally, the British Gold Refinery – (britishgoldrefinery.co.uk) – has recently been rapped by the Advertising Standards Authority for running misleading pricing information on their website, has been slammed by the BBC TV’s Ripoff Britain programme for dishonest trading and is also is the subject of a Facebook campaign by disgruntled former customers, calling for the company to be closed down.

Unauthorised activities

To give the site a veneer of credibility, compare-the-gold-price.com also listed a price from H. Samuel – a well-known High Street jeweller, and a name the BBC’s callers recognised and trusted. They said that because H. Samuel was on the site, they felt the comparisons would be valid. In fact, H. Samuel was horrified when the BBC contacted them; the company hadn’t given its permission to be on the site, and in fact hadn’t provided an online gold buying service for over a year. The price couldn’t possibly be genuine and was obviously a fabrication intended to make the other gold buyers look more attractive.

Not to be trusted

H. Samuel’s spokesman said the company would refer the matter to their legal department. Interestingly, H. Samuel no longer appears on compare-the-gold-price.com’s website, which now quotes a price from Tesco Gold Exchange. Again, this is presumably without permission, as the price per gram shown on the comparison site is not what Tesco Gold Exchange is actually offering (at the time of writing this article).

Appalling service

It wasn’t only the prices received from cash-for-gold.co.uk that gave the Radio Four You and Yours callers cause for concern. In each case, they’d had to threaten legal action either to get a price, or to get their gold returned. One caller admitted she accepted what she knew was a very poor price from cash-for-gold.co.uk, because she feared she’d never get her gold back at all. And remember, the other top three companies on this so-called comparison website were connected with cash-for-gold.co.uk – so you could expect a similarly poor response from them.

The comparison scam

Our own researches have shown this problem isn’t isolated to compare-the-gold-price.com. If you dig deeper, you’ll find most of the gold buying comparison sites are either affiliated to, or receive income from those sites it lists. For example, the comparison site comparethegoldprice.co.uk lists goldrefiners.co.uk as their top paying company. Not surprising when you discover those two sites are connected!

Unregulated websites

Gold buying comparison websites purport to offer a fair and transparent comparison of the prices different companies will pay, as we’re used to seeing with insurance comparison websites. However, insurance comparison sites are regulated by the Financial Conduct Authority, but there’s no control at all over the gold buying comparison sites.

Poorer prices, guaranteed

Another point to note is that the gold buying companies appearing on similar comparison sites generally pay commission for referrals. That’s typically £20 – £30 per referral, which goes to the comparison site owner and is inevitably deducted from the amount they’re prepared to pay you for your gold.

How to find a better price

So what’s the answer? Quite simply, if you don’t want to be scammed, or you want to achieve a fair price for your gold, don’t bother with gold buying comparison sites. Bullion dealers, such as Gold-Traders (UK) Ltd don’t appear on any comparison site because:

  • We’re independent
  • We don’t pay affiliate referral fees (as they would result in lower payments to our customers).

In short, you’ll be rewarded with a better price and a higher standard of service than you could ever expect from a comparison site.

External sites

September 10th, 2013 2 Comments » Industry News, Selling Tips |