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How to Sell Gold In London?

With the increasing gold prices and the troubled economic climate, the scrap gold industry has taken a big jump. The gold prices have more than trebled since 2007, and as a result it has become profitable to buy and sell gold. Hence, we can see advertisements of Gold buying companies everywhere. Along with the traditional means of selling gold at either the Jewellers or the Bullion dealers, there are new channels by which you can sell gold like through post via the internet or Gold Parties.

 

Selling gold to the high street jewellers is easy. You just take your gold to them, ask the price and if you are satisfied with the price being offered you get the articles checked, tested and weighed and get cash for them. In case you are not happy with the price being offered you are free to visit other high street jewellers till you receive a satisfactory price. One of the main advantages of visiting high street shops is that you have the option of accepting or rejecting the money offered and the process usually takes place in front of you.

 

The other mode of cashing on scrap gold is by selling them online through postal gold companies. The prices being offered are displayed on these company’s websites and the online calculator allows you to get a rough quote on your jewellery. Once you are happy with the price being offered, you can request a postal gold envelope and send your articles to them. Upon checking the articles, the company will contact you with the final quote and once you have accepted the offer the payment is made to you by either check or bank transfer. It is a fairly easy process but one need to be careful and must read all the terms and conditions before sending their jewellery. You must check that you have the option of getting your jewellery back in case you are not happy with the price being offered. If the company is happy for you to visit them at their premises to process your gold, then they are most likely to be genuine and will pay the right price for your gold.

 

The latest way of cashing on gold is by Gold Parties whereby an expert charges you fees to come to your home prior to your party and set up the jewellery testing kit. Once the guests have arrived they can get their jewellery assessed and get a quote and upon accepting the quote they can be paid on the spot either in cash or by check. Usually the host or the hostess gets paid a percentage of the total transaction amount for the evening.

 

You can use either means of selling your gold, however, it is important to be careful and well informed in order to avoid any disappointments. When you want to sell gold it is important that you know what you have, what it’s worth and how much you should expect for it. The three main things you need to know about your jewellery is the carat of gold it is made of, the weight of the jewellery and the day’s price of gold. The hallmarks on the article can tell about the carat of gold i.e., the purity of gold. The spot prices of gold per ounce can be checked daily at the kitco.com. The London gold bullion dealers work on London Fix, which is fixed twice in a day at 10.30 am and 3.00 pm. And you can get a rough idea of the weight by checking them on the kitchen scales. Once you know all these important details you can shop around to find the best means of converting your gold into cash.

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Todays Gold Silver and Platinum prices

  Price per Gram
Gold 9 Carat £11.12
Gold 14 Carat £17.29
Gold 18 Carat £22.25
Gold 22 Carat £27.15
925 Silver £0.12
950 Platinum £18.10

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