Archive for the ‘Selling Tips’ Category

Sell Unwanted & Scrap Gold in Bodmin, Cornwall

Gold Traders is delighted to announce the imminent opening of our Bodmin branch. We’re ideally located for anyone in Cornwall to easily sell their unwanted gold, silver, platinum and palladium – for market-leading prices.

Our Bodmin branch will be geared up to handle all types of precious metals sales, including jewellery, coins, bullion and dental scrap. Full x-ray testing will be available, so we can value any non-hallmarked scrap, including platinum thermocouple wire, crucibles and other scientific material.

What makes Gold Traders different to other gold buyers?

Gold Traders has been operating since 2008 and has always strived to be open and transparent when buying precious metals from the public. Unlike many of our competitors, we publish the rates we pay, so you can obtain an up-front estimate as to how much we’ll pay you.

If a gold buyer is unwilling or unable to confirm their rates, it generally means they have something to hide!

Buy With Confidence Scheme

In 2022, Gold Traders became the first precious metals dealer in the country to obtain Trading Standards accreditation through their national ‘Buy With Confidence‘ scheme.

Businesses that undertake to become part of the Buy With Confidence scheme are regularly monitored and checked by Trading Standards to ensure that customers are dealt with in a fair, honest and transparent fashion.

External link: View our Buy With Confidence record.

Gold Traders Bodmin

Located in the former HSBC bank building, you’ll be able to visit us, Monday to Friday.

Our address is:

Gold-Traders (UK) Ltd
3 Fore Street
Bodmin, PL31 2HU

Our telephone number is:

01208 420331

Steve & his team are looking forward to welcoming you. In the meantime, please feel free to give us a call with any questions you may have.

August 8th, 2023 2 Comments » Gold, Selling Tips |

How much is 14ct gold worth per gram?

14ct gold rings

Having all the necessary information is the key to making a good decision. If you’re looking to sell some of your 14 carat gold items and aren’t aware of the market value of it, then you could be at risk of being taken advantage of. In some cases, unaware members of the public have been offered as little as 20% of the real value of their gold. Read on, and find out how much 14ct gold is per gram.

In this detailed article, I’m going to explain how you can calculate the value of your 14ct gold and how to compare quotes from different companies. This information is vital for you to get the best deal possible. I can tell you now that by not doing this, you could possibly end up being paid between 50% – 60% less for your items.

What is 14ct Gold?

You might already know that the carat (ct) is the traditional unit used to denote the purity of gold alloys. The higher the number, the more ‘pure’ the gold, i.e. the alloy has more gold content and fewer other metals. In the United States, it’s spelt ‘karat’ (k / kt).

The formula used by the gold industry measures carat purity as 24 x the purity by mass. So 14ct gold is 14 parts gold, 10 parts other metal. In percentage terms, that’s 58.33% fine gold. You’ll see on the hallmark for 14ct gold in the UK is generally expressed in millesimal fineness these days. A convention exists in continental Europe to round up the figure to 58.5%, hence the hallmark figure of ‘585’.

The colours 14 carat gold is available in are yellow, rose and white. An alloy of copper will give a more red colour (rose gold), whilst metals such as silver, zinc and palladium will provide a more white colour. An even mix of copper and silver will produce a yellow colour.

How Much Is 14ct Gold Today?

Now you know what your 14ct gold is composed of. The burning question following that is, what’s it worth?

Right now, Gold-Traders is paying £ for 14ct gold. This is the live price, which moves with the market rate, so our quotes are always up-to-date.

If you’d like a comprehensive view of all our scrap gold rates, then have a look at our Scrap Gold Prices page. We encourage you to shop around and find other quotes to compare against. We’re confident that we have some of the best rates in the market for 14ct gold, so if you do come across another firm offering a better rate, then let us know!

‘Free’ Envelope Rip-Off

Now that you have a fair and honest offer for your 14ct gold, the next question is: how are you going to get your precious metal to the buyer? There’s a few options.

  1. Fill in our claim form and post your gold to us. We recommend Royal Mail Special Delivery as it’s insured and tracked. Remember to retain your proof of postage slip.
  2. Visit us at our trade counter in person and sell your gold face-to-face. We welcome walk-ins, with our operating hours between 10:00am and 4:30pm, Monday to Friday. Our address is 143, High Street (Station Road entrance), Royal Wootton Bassett, SN4 7AB, and our telephone number is 01793 230 331.

Contrast this with certain ‘cash-for-gold’ firms, who send you a ‘free’ postage bag or envelope. This is just marketing bluster. Scratch the surface a bit on these companies and you’ll find they don’t advertise their rates (most likely because they’re not as good as ours), their pre-paid mailers don’t provide any additional protection for your items and despite their claims of paying ‘top prices’, the worst players pay over 60% less than us!

How Do You Identify 14-carat Gold?

From the customer’s end, the easiest way to identify 14 carat gold is to check the hallmark. It’ll be labelled as ‘585’, with some older items carrying the label ’14ct’ or just ’14’.

We can accurately test gold in our premises using an XRF (x-ray fluorescence spectroscopy) machine, which leaves no mark on the items.

14ct gold is a popular purity in countries such as Greece and Italy. Customers should be aware there is no official guarantee or hallmarking standard in these countries. In our experience, items marked as 14 carat (14k) from Greece are often slightly less pure due to ‘under carating’ – around the 55% purity mark.

Hardness of 14 Carat Gold

14 carat gold is considered a compromise between 9ct gold, which some view as affordable but undurable, and 18ct gold, which is durable but more expensive. A common myth is that the higher the carat, the softer the gold is – this isn’t true!

There’s actually a measurement for metal hardness called the Vickers scale, and 14ct cast gold is in the 100 – 165 HV scale, depending on the other metals used. This is harder than both 9ct gold and 18ct gold in cast form, but note that the maximum annealed hardness of 14ct gold is lower than 18ct gold.

14ct Gold Jewellery

14ct gold is sometimes used for men’s rings, as the higher carats such as 22ct and 24ct, while more valuable, are considered too soft and less able to withstand prolonged wear. It’s a popular purity in countries such as Greece and Italy. Customers should be aware that there is no official guarantee or hallmarking standard in these countries. In our experience, items marked as 14ct from Greece are often of slightly lesser purity – around the 55% purity mark.

Selling with Gold-Traders UK

If you weigh your scrap 14ct gold you can then use our online calculator to get an accurate quote. Look at our page about how to weigh your scrap gold, but don’t worry if your own scales aren’t that accurate – we will use our calibrated and Trading Standards-approved scales to determine the exact weight and make sure you get an exceptional offer for it.

Further reading

January 30th, 2023 No Comments » Gold, Selling Tips |

How much is 22ct gold per gram?

This article looks at how much 22ct gold is worth per gram today. As well as this information, it also delves into a lot more detail, which I hope will help you make an informed decision before selling your gold.

Cash for gold companies that offer free postage envelopes rely on keeping their fees and calculations secret. Unscrupulous dealers can take advantage of your confusion, meaning you could loose out on hundreds or even thousands of pounds. After reading this article, I strongly recommend you think twice before using a free envelope cash for gold service.

How much is 22ct gold / g today?

Right now, we’re paying £ for 22 carat gold. We have no fees or charges to come off this figure and it’s the same for customers who visit our secure counter as well as those who use our very efficient postal service.

This webpage automatically updates whenever we adjust our prices. That means that the price displayed here is exactly what we’ll pay you if you were to sell your 22ct gold to us right now.

Top Tip: Had a quote from another gold company? Before you accept their offer, make sure you obtain a clear itemised breakdown of their valuation. You need to know the weight (in grams) and the purity (carat) of your items. Once you have this information, use our handy tool to calculate the real value of your gold. It’ll help you determine whether you’re being offered a fair price. We’ve seen quotes for as little as 20% of the gold value so it really does pay to check before you sell. Bottom line, if you’re being offered less than 90%, you should go elsewhere!

What is 22ct gold?

22 carat gold is 91.67% pure and among the most sought-after after forms of gold available in the UK.

Pure gold is known as 24 carat gold. It’s beautiful but quite soft. 22ct gold includes a small amount of other metals like copper, silver and zinc which makes the alloy hard-wearing without loosing the bright lustre.

You’ll sometimes seen carats spelled ‘karats’ and 22ct gold referred to as ‘22k’. It’s the same thing, just an American spelling. You might also see 22 ct gold referred to as 916.7 gold or .916. That’s just a different way of talking about the purity of gold, used by precious metal experts.

How to identify 22 carat gold

UK law requires gold jewellery and other gold items to be stamped with a tiny hallmark. Hallmarks are an old form of consumer protection, ensuring the you get exactly the purity of gold you’re paying for. UK hallmarking legislation requires any item made after 1950 and described as 22ct gold to carry a ‘916’ stamp (identifying the purity) as well as the symbol of one of the four UK assay offices.

Other countries have different systems and old jewellery might have no hallmarks at all. In cases like this its hard to be sure you’ve got 22ct gold.

If you need help identifying your hallmark, take a look at our hallmark identification wizard.

At Gold-Traders, we employ high-end XRF technology to quickly and precisely test the chemical composition of the gold our customers want to sell. We’re easily able to authenticate your 22ct jewellery, ensuring you get a fast and accurate payout.

Read more: What is an XRF Machine?

What is 22 carat jewellery worth?

The value of old gold jewellery like rings and bracelets is determined by the weight and gold content of the piece. We sometimes call the gold value of an item its ‘scrap value’. It doesn’t matter if your gold jewellery is broken or damaged: it’s still worth something.

Working out how much your 22ct gold is worth is based on two factors:

  • The current price for 22ct gold per gram on the metal market
  • The weight of the jewellery in grams, minus any stones or other non-gold parts

Our current price for 22ct gold is £. All you need to do is multiply this figure by the weight of your jewellery to see how much we’ll pay you for your gold today. This price might be different to the original retail value but applies to fine gold jewellery from any brand.

Can I sell 22ct gold coins?

In the past, some coins were made of real 22 carat gold. The most famous British 22ct gold coin is the gold Sovereign. Lots of old Sovereigns, made during the time of Queen Victoria, are still kicking around and the UK’s national mint is still producing them as an investment coin.

You can definitely sell 22ct gold coins like Sovereigns and assuming they’ve never been mounted in jewellery, they’re worth more than regular scrap gold. Visit our Sovereigns page for up-to-date bullion rates. Historic and rare examples will net you more.

Other 22ct gold coins are also valuable. British Britannias, South African Krugerrands and American Eagles are made from 22ct gold and we’ll pay a premium for these collectible coins. Check out the rates we’re currently paying for gold coins, or contact us for a quick quote.

Selling with Gold-Traders UK

We launched Gold-Traders UK in 2008 to offer fair prices and great customer service to Brits looking to sell their unwanted gold. We’ve always sought to be transparent about how the precious metals industry works, while shining a light on the tricks employed by a few of our competitors. Our live scrap gold prices (including for 22 carat gold jewellery) are easy to access so you know exactly what we’ll pay.

In 2022, our hard work was rewarded when we became the first UK precious metal dealer to be vetted and approved by Trading Standards through their national Buy With Confidence scheme. Check their site for unbiased customer reviews or have a look at our Trustpilot page (we’re rated excellent!).

Further reading

January 17th, 2023 No Comments » Miscellaneous, Selling Tips |

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 |