Frequently Asked Questions


How can I be sure I can trust you with my gold?

First of all, don't just take our word on the service we provide. Take a look at the independent 3rd party rating and survey company FreeIndex to track our customer satisfaction levels. Every customer is invited to review our service once payment has been sent. To see what our customers are saying about us, please view our testimonials page.

Gold-Traders (UK) is a UK company, registered with Companies House (registration number 6521732).

We must stress the importance of using Royal Mail special delivery when sending your gold, and to use a good quality, padded 'Jiffy' style envelope. Not only is it trackable, but your property is also insured against loss or damage whilst in transit. We always inspect packages before accepting them. If the packaging is damaged, we will refuse to sign for the delivery and contact you straight away. Unfortunately, we must do this to cover ourselves and also to allow you to make a claim against the Post Office.

  • All packages are handled under the supervision of CCTV surveillance.
  • Prior to opening a package, it is identified from the unique code printed on the shipping label.
  • The complete unopened package is weighed. Its weight is recorded on the envelope.
  • The package is opened under camera supervision.
  • We check-off the items against the claim form and weigh them straight away.

The above procedures are followed to protect all parties in the transaction. Should a discrepancy ever arise, we can then refer back to our CCTV footage.

However, should the thought of posting your valuables is a step too far, or you live within easy travelling distance to us, we now offer a trade counter which you can visit.

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Please explain the procedure. How do I sell my items?

We've made the process of selling your unwanted jewellery as quick and straightforward as possible. We've summarised the steps below:

  1. Complete our simple claim form. You'll need to give us your basic contact details and tell us what your payment preference is. If you know the weight and purity of your items and you include those details, the printed version of your paperwork will include a valuation estimate based on the rates we're currently paying.
  2. Once your claim form has been submitted, you'll be asked to print a copy for signing. If you don't have access to a printer, you can hand write the detail onto a sheet of paper.
  3. Follow our guidelines regarding postage and packaging. Royal Mail Special Delivery is very safe and secure. You're package will be guaranteed to be delivered on the next working day and we deal with everything on the day of receipt, Monday to Friday.

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I don't know what type of gold I have.

No problem. Simply complete our claim form with as much information as possible. Once we receive your gold scrap, we'll test it and let you know what it's worth.

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My gold isn't hallmarked.

We pay exactly the same rates, whether an item carries a British hallmark or not. Our testing methods allow us to very accutately determine the composition of all items. So, for example, if we receive an unhallmarked piece of 18ct gold, providing it contains 75% gold, that's what we pay out on. If, following our testing an item turns out to be of a lower purity, our prices are adjusted accordingly.

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I don't know how heavy my items are.

If your home scales aren't accurate enough, don't worry. Once you've completed our claim form and sent us your scrap gold, we'll weigh it (on Trading Standards approved scales) and let you know what it's worth. You can then decide if you wish to sell it, or have us return it at no charge.

If you want to value the items yourself and don't have accurate scales, we would suggest using the scales at your Post Office. Put your items in a plain envelope (for discretion) and have a second, identical envelope with you. Weigh the two envelopes separately and subtract the weight of the empty envelope from the weight of the envelope containing your items.

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Do you buy Silver?

Yes we silver coins, silver bullion and scrap silver of all purities. Please see our scrap silver prices page for our up-to-date rates.

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Do you buy Platinum?

Yes, we buy Platinum jewellery, coins and scrap Platinum. Please see our scrap platinum prices page for our up-to-date rates.

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Do you buy Palladium?

Yes, we buy Palladium jewellery, coins and scrap Palladium. Please see our scrap palladium prices page for our up-to-date rates.

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What payment options do your offer?

We offer a wide selection of payment options.

  • Direct (BACS) bank transfer
  • Cheque
  • Cash
  • PayPal
  • Guaranteed same day (CHAPS) payment
  • Charity donation.

Direct (BACS) bank transfer
Your payment is transferred straight into your bank account on the day we receive your items. Most UK banks now operate under the 'Faster Payments System', meaning that funds reach customer accounts the same day payment is issued. BACS payments are processed free-of-charge.

Cheque payments
Issued on the day we receive your unwanted items (Monday to Friday), all cheque payments are sent via Royal Mail first class post. To cover our bank and admin fees we charge a nominal £2.00 for the issue of cheques.

Cash Payments
For security, we send cash using Royal Mail Special Delivery. To cover postage and handling fees, we charge £6.50, plus £0.30 for each £100. Cash payments are limited to a maximum of £2,500.

PayPal payments:
Depending on the size of payment and type of PayPal account you have, PayPal may deduct a transaction fee from the payment we send you. Gold-Traders (UK) is not responsible for such charges. If this happens, you are welcome to cancel the payment transfer and ask us to send a cheque instead.

Guaranteed same day (CHAPS) payment
CHAPS payments are guaranteed to reach your account on the same day we receive your gold (Monday to Friday). CHAPS payments carry a £25 bank charge.

Charity donation
We pay a 5% premium if you are donating the proceeds of your gold sale to charity.

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Why does a CHAPS bank transfer carry a £25 admin fee?

This option guarantees our payment to you will reach your account (as cleared funds) by 5pm on the same day we receive your items.

As our bankers levy a transaction fee for guaranteed same day transfers, regrettably, we must pass this charge on.

As most banks now operate the 'Faster Payments System', CHAPS payments are generally not required unless the transaction is over £10,000.

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If I donate my scrap gold to charity, how does it work?

If you would prefer to donate the value of your scrap gold to charity, we will pay an additional 5% on top of the scrap value.

We have tried to make the process as simple and transparent as possible.

  • Nominate your chosen charity on the quotation form.
  • Send us your scrap gold items
  • We will calculate the value and add the additional 5% premium to the price.
  • We will issue you with a cheque, made payable to your nominated charity.

Please Note: The charity you select must be a registered charity, recognised by the Charity Commission.

Due to our very tight margins, we are unable to offer a charity premium on coins.

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How much do you pay for scrap gold?

Our prices are constantly changing. As of 13/07/2024, we are paying £20.85 / gram for 9ct gold. We will confirm the exact value of your items once they have been received. For a full summary of what we're currently paying, please see our scrap gold prices page.

Please remember, we have no testing or refining fees. If you see another buyer advertising a higher rate, please read their Terms & Conditions very carefully. You will often find the rates they quote are not an accuarate indication of what you will be paid or that there are testing fees, refining fees or other charges that will be deducted from your valuation.

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What are the 'Live Prices' in the top right corner of the page?

As an internationally traded commodity, the market rate for precious metals is changing on a minute-by-minute basis. For the purpose of transparency, we publish the live market metal prices so that you can compare the rates we pay with the live price.

You will probably come across other dealers who quote their 'scrap' prices at surprisingly similar rates to the live metal price. Be vary wary of sending your items to a dealer who only quotes the live price. Please remember the dealer is looking to make a profit and they will have their overheads to cover. You will never receive the live metal price for scrap gold, silver, platinum or palladium from any dealer.

If you read their small print very carefully, it's likely that you'll discover that the 'price' they quote online isn't a genuine indication of what you're likely to receive. These dealers can end-up offering you between 40% - 60% of the real value of your items.

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Can I change my mind once I've sent my items?

Yes you can. Simply notify us within 24 hours of payment notification and return our payment within 3 days and we'll return your item(s) fully insured at no charge.

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Some of my jewellery is set with stones.

Please understand that we only pay for the intrinsic precious metal content and must therefore remove any stones from their mounts. If you would like the stones returned to you, please state this on your claim form.

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Are your prices guaranteed?

The prices you see quoted are the rates we're paying our customers right now. As the gold price fluctuates on a daily basis, we'll confirm the exact value of your items once we've received them.

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What happens if the gold price goes up once I've sent you my gold?

We always pay you the best price available. If the price goes up, we'll pay you the higher price.

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What happens if the price goes down once I've sent you my items?

If the price drops by more than 10%, or if you've opted for a formal valuation, we must seek your permission before issuing payment. You are perfectly at liberty to decline the valuation, in which case we'll return your items at our cost.

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How quick do I receive payment?

In the majority of cases, claims are processed on the day we receive them. If you elect to be paid by bank transfer or PayPal, your money will be in your account by the end of the day. This assumes we have received relevant authorisation, should it be required.

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How should I package my items?

If possible, please send your scrap gold in a padded / 'Jiffy' envelope, preferably inside a small plastic bag. If you use a normal envelope (not recommended), wrap your item(s) in kitchen roll and tape securely. Please also ensure the seams of the envelope are securely taped.

You should always send your scrap gold by Royal Mail Special Delivery. Gold-Traders cannot be held responsible for items lost or damaged in transit.

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Are your prices really the highest in the market?

We believe so. We regularly monitor the price of scrap gold and adjust our prices accordingly. As we do not have retail or high street premises to maintain, our costs are much lower than our competitors, allowing us to pay you more for your scrap gold.

Incidentally, if you do happen to find another company paying a higher rate than us, please let us know – we'll aim to beat it!

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Do you buy gold dust?

No, we do not buy alluvial gold dust.

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