Selling gold is simple. You hand it over, they make you an offer, and you walk away with cash.
But how do you know if that offer is any good?
Most people don't. And with no legal requirement for gold buyers to tell you their price upfront, there's no easy way to find out.
So we asked Wiltshire Trading Standards to test it for us. They took a verified quantity of gold to four different types of buyer - and the results were striking.
The Gold We Used For The Test
We supplied a verified quantity of gold to Trading Standards for them to take round to different gold buyers.
The gold was:
- 12.5g of hallmarked 9ct gold
- 24.2g of hallmarked 18ct gold
Together, this gold had a combined value of more than £2,200 on the day of testing.
What Each Type Of Gold Buyer Offered
On 26 June 2026, a Trading Standards officer at Wiltshire Council visited a range of gold buyers and noted the first offer each one made. He didn't negotiate or push for a better price. He simply recorded what was offered.
Here's what came back:
- A mobile gold buyer working from a campervan in a car park offered £1,122.57
- A bricks and mortar gold buying business offered £1,191.00
- A High Street jeweller offered £1,500.42
- A High Street pawnbroker offered £1,880.00
For comparison, we worked out that Gold Traders would have offered £2,057.82 for the same gold, based on our published rates for that day, which are available on our website.
"This exercise shows just how much offers can vary between different types of gold buyer, even for an identical quantity of gold," said Tom Hutchinson, Principal Trading Standards Officer at Wiltshire Council.
"Our consistent advice to anyone considering selling gold is to obtain more than one valuation, ask exactly what price per gram is being offered, and never feel under pressure to accept the first offer made."
Why The First Offer Matters
Many gold buyers start with a low offer. If you say no, some will offer more.
The problem is that most people don't say no. Many sellers simply accept the first figure they're given, especially if they don't know what their gold is really worth. That's exactly why Tom recorded the first offer in each case, not the final one.
Why This Matters For You
This test shows that the amount you get for the exact same gold can vary by more than £750, depending on who you sell it to.
There is currently no law requiring a gold buyer to disclose the price per gram they're offering before you agree to sell. That's something we think needs to change.
We're Calling For Mandatory Price Transparency
Gold Traders is campaigning for some basic consumer protection rules in the gold buying market. The first and most important of these is simple: every gold buyer should publicly state the price per gram they're paying for the purity of the gold in question before any transaction begins.
If that rule existed, you wouldn't need a Trading Standards officer to find out whether you're getting a fair deal. You'd just need to ask one question.
What You Can Do Before You Sell
While we wait for the law to change, here's what we'd recommend:
- Always ask for the exact price per gram before agreeing to anything
- Get more than one valuation before you decide
- Don't feel pressured to accept the first offer
- Check whether the buyer holds Trading Standards accreditation through Buy With Confidence
Gold Traders was the first precious metals dealer in the UK to hold Buy With Confidence accreditation. We publish both the live spot price and the rate we actually pay, so you can check the numbers for yourself before you visit.
Find Out What Your Gold Is Worth
You don't need to visit four different buyers to find a fair price. Use our free gold calculator to see what your gold is worth today, based on live spot prices.
Or visit us in person at our branches in Royal Wootton Bassett or Bodmin for a free, no obligation valuation.
