Our campaign for gold buyer regulation has won the backing of Sarah Gibson, the MP for Chippenham. Sarah met Gold Traders founder Jon White on 6 October 2026 to hear why people who sell gold need better protection.
She has now pledged to apply for a Westminster Hall debate on the issue. That's a debate held in Parliament, where a government minister has to respond.
Why Gold Buyers Need Regulation
A dealer buying old copper pipe needs a council licence. They can't pay in cash, and they must check the seller's ID. A gold buyer needs none of these.
A scrap yard has more rules around buying and selling of scrap metal, says Jon. Yet when it comes to gold, it's a free-for-all.
Many people only sell gold once or twice in their lives, often after a death in the family, or when money is tight. Sellers often don't know what their gold is worth, and there's no law requiring a buyer to disclose the price per gram they're offering before they sell.
What That Means for Sellers
Without clear prices, offers can be very low. In one of our tests, a postal buyer offered just 30p for every £1 the gold was worth.
When Wiltshire Trading Standards took the same gold to four different buyers, the offers were more than £750 apart.
This isn't a small problem. We estimate that more than £2 billion worth of gold is recycled in the UK each year.
What Sarah Gibson MP Said
Sarah shares our concern. She said:
People selling gold or precious metals deserve to know they are being offered a fair price. I am deeply concerned that too many consumers do not fully understand how their valuables are assessed, how prices are calculated or what their items are really worth.
This is particularly worrying when people are selling treasured possessions following a bereavement or during financial difficulties, leaving them vulnerable to being taken advantage of.
We need stronger regulation, greater transparency around pricing and proper protections to ensure consumers can make informed decisions. Responsible dealers should have nothing to fear from higher standards, and I am pleased to support Jon's campaign.
We're grateful for her support. A Westminster Hall debate would put the issue on the record in Parliament and ask the Government to set out where it stands.
The Five Rules We're Asking For
Our proposals are simple. Every one is something a good gold buyer already does.
- Mandatory price transparency before any transaction. Buyers should show the price they pay per gram, for each purity, before any deal.
- Regulation of postal buying services. Postal buyers must give a realistic written price before you send anything, and return your items free if you say no.
- Regulation of travelling buying events. Pop-up buyers must register with the local council, show their rates and put offers in writing.
- A cash threshold ban. No cash payments above a set limit, in line with money laundering rules.
- Identity verification obligations for all sellers. Buyers must record every seller's ID, to help stop the sale of stolen goods.
We're a gold buyer, so we have an interest in this market. But none of these rules would change how we work. We already publish the prices we pay every day.
You can read the full proposals in our campaign post.
Gold Buyer Regulation in the News
The Gazette and Herald covered the story on 10 October 2026, under the headline MP backs calls for tougher regulation of gold buyers.
Sarah isn't the only MP to take an interest. Damian Hinds, the MP for East Hampshire, also backs the campaign. In July he asked the Government in Parliament whether gold buyers should have to show their price per gram.
How You Can Help
The more support the campaign has, the harder it is to ignore. Here's what you can do:
- Sign the petition. It's open until 24 February 2027: petition.parliament.uk/petitions/776513
- Share your story. If you've sold gold and felt short-changed, we'd like to hear from you. Get in touch.
- Tell your MP. Ask them to support a Westminster Hall debate on gold buyer regulation.
Selling Gold Before the Law Changes?
Always ask for the price per gram before you agree to anything. Get more than one valuation, and never feel rushed into accepting the first offer. Our guide to selling gold explains what to look out for.
