Comments on: Avoiding Cash For Gold Scams

By: Henry Purcell

Henry Purcell — Mon, 10 Oct 2011 14:44:34 +0000

…and whatever you do, do not use the “British Gold Refinery”. The company is a complete scam. I’ve used other companies in the past, no problem, but the British Gold Refinery have simply stollen my jewellery. How companies that practice this fraud get away with it I don’t know.

By: emma

emma — Sun, 12 Jun 2011 19:15:08 +0000

How To Sell Gold & Silver in the Uk for the best price
1/ Shop around for the best price per gram for your gold & silver but don’t just stop there. Shortlist 3 or 4 of the highest prices that you have found….then look deeper at the companies concerned
2/ make sure that these companies have reliable trading standards approved weighing scales and either they will weigh your items in front of you OR will send you a photo of your items on scales (if you are using a postal service) remove the ones that don’t show or prove the weights from your list
3/ read the website small print and check for any fees charged eg refining fees, returned item fees, non-gold item fees, If they charge a fee, or have some long-winded one-sided page of terms and conditions then don’t use them and remove them from the list
4/ Phone up your remaining choices and talk to them. tell them what you have, ask them for a quote, ask questions about their company and modus operandi . Phone each in turn and check that they do what they say they do, and pay what they say they pay
5/ You are now ready to sell your gold To the best of your ability sort out your items into the various carats of gold or purity of silver before using your selected company . Any items you are unsure of ie as to carat of gold etc then keep separate and query separately.
6/Go sell

Warning About Selling Your Silver.
Watch out for companies that
1/ Advertise false prices
There’s a company up North for example that advertises a high minimum price per ounce they pay. Its a false price because when you look closer the actual price they pay per gram on their calculator is far less.
2/Underweigh the customers silver/ Using Faulty Scales to underweigh items.
Watch out for the old trick many jewellers have,
of scurrying to a private room to weigh your items,
without you being able to see the weight!!
3) Charge refining fees of up to 20% that are not transparent ie are hidden inside a contract
4) Charge an admin fee for return of non-silver items which often turn out to be silver
5) Undervalue the purity of silver
6) Use clever and long contracts to avoid having to pay the price they advertise.
7) Post a very high price then when they have your items, reduce the price dramatically.
Silver does fluctuate but we accept that most customers check the price the day before they post or come in and that is the price we pay you.. You’re safe!!
Pay By Bank Transfer which can take up to 3 days.
9) Charge extra for cash or return postage.
Sources
http://www.birminghamsilvercompany.co.uk
http://www.oft.gov.uk/news-and-updates/press/2011/16-11
http://www.birminghamgoldcompany.co.uk

By: alex

alex — Wed, 08 Dec 2010 18:23:12 +0000

A great company that buys gold is The Gold Gurus. I know it seems sort of cheezy but they really offer the highest price. I brought in some old jewelry and came out with $700.

By: Sophia

Sophia — Mon, 02 Aug 2010 03:39:50 +0000

I left a comment on another blog about GoldExperts.ca. If you’re in Canada, I really recommend them. They’re in Quebec if my memory serves right. Anyhow, they paid nearly twice as much as what my local jeweller was offering. So for anybody who thinks that going local is the way to go, it’s definitely not true. Anyway, my experience with Gold Experts was good. Maybe others are good as well, I don’t know. But I’ll stick with these guys if ever I have more stuff to sell.

By: terry cantin

terry cantin — Fri, 23 Jul 2010 13:32:45 +0000

Anyone or everyone can take their gold or silver and sell it for 98% of the spot price of gold ( less a small assay fee ). That is what Imperial Smelter & Refinery is paying.
There is one on Dennison ave in Richmond Hill Ont and another in Vancouver BC. Needless to say you wouldn’t take just a single or 2 pieces, but if you have quantity or bulk, you should. I’m a treasure hunter and have sold many lots to the smelter, bypassing all the middle men and have been very happy with their prompt payments & what Ive been getting price wise.

By: Admin

Admin — Tue, 18 Aug 2009 17:35:35 +0000

Yes that is a helpful widget. We used to use it here on the site before we switched to a live chart of the spot price of gold.

By: Hal

Hal — Tue, 18 Aug 2009 15:16:43 +0000

I also find helpful knowing the spot price of gold. There’s a widget I use called ExactPrice. You can get it at http://www.learcapital.com/exactprice

It’s free and tracks in real time the spot price of gold, silver, and platinum. You can even access it on a web enabled cell.