Top 3 points to consider when selling gold

Many people out there are taking advantage of the fact that gold is extremely valuable

at the moment after it has been rising in value for the last 8 years. What started as a craze in America has now reached the UK shores as more and more people are shifting unwanted and unloved gold jewellery for cold hard cash.

There are many ways available to get cash for gold and unwanted jewellery. You can take your scrap gold to a jewellery or pawn store, sell it online through a gold selling party, or through a postal service.

However there are a few things you need to consider before you sell your scrap gold.

1. Bear in mind that a lot of the jewellery that is bought in the UK is used for scrap gold. It's sometimes not wise to sell jewellery that holds sentimental value. However selling scrap gold can be the best option if the items are damaged or have bits missing.

2. Many companies buying second hand jewellery will only be interested in the weight, not the design or pattern. So weigh your own jewellery and do some research so you know roughly what sort of quote you should be getting.

3. You will need to find a way of checking the carats of your gold as the purity of gold is based on the purity of the carats, and the price is determined by this. It makes sense, the purer the gold, the more it is worth.

We spoke to Mrs Jane Edwards, who regularly sells gold for cash online to give us a few tips:

"I first found out about selling unwanted jewellery and cash through a friend of mine, she'd recently been divorced and wanted to get rid of her wedding ring quickly and painlessly. She did a bit of research online and found a company where you just send your jewellery in the post and they send it straight back to you. I used to love jewellery when I was younger, especially gold jewellery, but decided that I wasn't going to ever wear it again. Rather than giving it to friends or family, I decided to make a bit of money out of it to pay for the new conservatory. My son was worried about me just sending off my jewellery in the post, so he did some research for me. He weighed my gold and found out the carats by taking it to a local jeweller. They told him I would probably get about 30 for the gold. When I sent it off the company came back to me the next day and offered me 50! It was so quick and easy to sell gold that I started selling more of my jewellery, and even did it for my friends and family as well."

Top 3 points to consider when selling gold

By: Jo da Silva

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