Category: News

Sell Scrap Gold as Recession Looms Large 

According to ONS data, a recession has been narrowly avoided after the UK economy grew by 0.5% in May 2022. However, the picture is far from rosy for many UK households. Should a recession come to pass, Brits will be squeezed harder than ever as the cost-of-living crisis shows no signs of abating.  

Speculation remains high that the economy will go into recession, and with inflation at a 40-year high, the average household has never faced such uncertainty. 

With all this in mind, many people are looking at ways to stay afloat during these tough times. The solution could be lying unnoticed in your home – in your jewellery box or stored in the attic. Yes, we’re talking about scrap gold. At Cash For your Gold, we offer you the best prices for your scrap gold and you can receive payment in just 24 hours. Keep reading to learn more about selling scrap gold during the cost-of-living crisis. 

What are the chances of a recession in 2022? 

The Bank of England is not predicting a recession in 2022, although as mentioned this was only narrowly avoided in May. The institution has predicted a significant downturn towards the end of the year with a contraction of almost 1% forecasted between October and December. 

Some experts are still warning that a recession is possible this year or in early 2023. With household bills and inflation at record highs there are several factors that could plunge the country into recession. 

Since April, there has been a 54% rise in gas and electricity bills, and the Bank of England expect costs to rise approximately 40% in October. With households and businesses having less disposable income at hand, spending could keep falling as price rises cause the economy to contract to the point of recession. For a recession to be declared, GDP must decline over two successive quarters , meaning a recession could be confirmed by the end of the year. 

Brits look to tighten their belts during the cost-of-living crisis 

There is some good news for savers. The Bank Rate, the interest rate set by the Bank of England, was raised in June 2022 from 1% to 1.25%. The Bank of England increases interest rates in an attempt to reduce spending and slow economic decline when the cost of living and inflation surpass acceptable thresholds. 

However, with household bills set to rise in October, many households will not be in a position to save. Instead, some will require additional income to be able to afford increases to their energy prices.  

This is where scrap gold can come in. At Cash for Your Gold, we offer some of the best prices for the sale of scrap metal online – visit our website to compare market rates. The good news for sellers is that gold prices are healthy. In January 2022, the gold price sat around £43.20 per gram, rising to around £46.30 prices in July. This means that if you have just five grams of 9 carat gold to sell today, July 25th, for example, you could make £82.50. 

Sell scrap gold today to beat the squeeze 

Using our scrap gold calculator, you can determine the value of your gold. All you’ll need to know is its weight and purity. You may have more scrap gold at home than you imagine. Fortunately, we accept a range of items including, jewellery, coins, gold bullion, watches and dental gold.  

You can sell your scrap gold in three simple steps. If you have any questions about selling your gold, or would like to book an appointment, please don’t hesitate to contact us. 

Finance Your Summer Holiday with Cash for Your Gold 

At Cash for Your Gold, we offer the best prices online for your scrap gold. With our competitive prices for scrap gold, you could finance your summer holiday, which is proving tricky for many Brits during this time of high inflation. 

The cost-of-living crisis means that many Brits are struggling to book a summer holiday for the third summer in a row after two years of COVID-19 enforced stay-at-home regulations. So, why not sell scrap gold today? 

Scrap gold – what we buy 

We have been buying scrap gold for many years, building a reputation for secure, fast and transparent payments along the way. 

We buy a range of items in the following forms of precious metal: gold, silver, palladium and platinum.  

The items we buy include jewellery, such as necklaces, bracelets, rings and earrings. We also buy medals, statues, old watches and dental gold. Discover the full list of items we buy. 

Whether you have unwanted jewellery gathering dust at home, or have inherited a coin collection, but have no interest in gold coins, we will offer you some of the best prices for scrap gold available online. 

Check the latest gold prices 

When looking to sell scrap gold, you can make the most of your sale by timing it just right. To do this keep a close eye on our live gold price charts. We update our live price data every five seconds to give you the most up to date information possible at your fingertips. 

With this information to hand, you can wait until the price is at a point you are comfortable with. 

Gold prices fluctuate constantly, so don’t underestimate how frequently prices change. Currently the gold price is plateauing to a degree. Across the last decade, however, the price has generally trended upwards, and for long periods it has risen sharply. Moreover, the price of gold tends to rise during times of economic strife such as now, meaning you may want to check our prices regularly before making a sale. 

How it works 

Just follow these three simple steps. 

  1. 1. Weigh and value your items  
    Firstly, determine the purity of your gold, which should be marked clearly on most gold items. Then weigh your items using a set of scales. By entering the weight and purity of your items in our scrap gold calculator we will determine a current guide price. 

  2. 2. Securely pack your metal 
    We recommend packing your items in a secure jiffy bag or similar. Once your items are physically secure print and fill in our seller’s form. When you are ready to send your items you can do so in complete confidence. We recommend posting via Royal Mail Insured Special Delivery to ensure your sale is not compromised if your items are lost in the postal service or damaged in transit. 

  3. 3. Receive your payment 
    You will receive payment within 24 hours of us receiving your parcel – via transfer directly to your bank account. 

Sell your gold for cash 

Ready to make a sale? If you are happy with the price we offer, you can sell your gold now. If you have any questions or would like us to value your gold for you, please get in touch with us. 

Gold Price Highs act As Inflation Buster in Cost-of-Living Crisis 

Rishi Sunak announced on May 26th that inflation was causing “acute distress” to Britons. Speaking to Reuters the Chancellor commented that he expects the Bank of England to “take decisive action” to ease the pressure on consumers who are facing ever increasing prices. 

This seemingly positive statement might go some way to providing hope to those struggling to pay the bills, but a politician’s promise doesn’t put food on the table in these trying times. 

Instead, many owners of gold are considering selling unwanted items to ease the effect of the cost-of-living crisis on their household bills. In this article, we will discuss whether now is a good time to sell gold to get some relief from increasing costs.  

Gold price rises as cost-of-living crisis deepens 

Gold started 2022 on January 5th at £43 per gram. As of the time of writing (March 26th), its price has risen to £47 per gram, so, the price of gold has increased 9% since the beginning of the year.  

If you had 5 grams of 24 carat gold to sell at the beginning of the year, you could have made  a profit of £215. However, if you made the same sale at the time of writing, you could net £235. By waiting until the gold price increased, savvy sellers could realise a £20 profit, and the more gold you have to sell when the price is high the more you can stand to make. 

How to sell scrap gold 

Selling scrap gold with Cash For Your Gold is a simple process, whether you have some old unwanted jewellery gathering dust, or recently found a collection of gold coins when spring cleaning the attic.

We accept most forms of gold including jewellery, gold coins and bars as well as dental gold. And we don’t stop at gold, we also accept silver, platinum and palladium, perhaps you have an unused silver cutlery set in the back of your living room cupboard? For a full summary of what we buy click the link.  

The first step to selling your unwanted scrap gold is to input its weight and purity into our simple to use scrap gold calculator. As an example, if you have 5 grams of 9 carat gold you’re willing to part with at the time of writing you would be able to collect £84.10 for your sale. 

We also accept face to face appointments in our head office in Wolverhampton. However, we do require a confirmed appointment before welcoming you to our office. Simply call us on 01902 623 253 to make an appointment.  

Sell scrap gold in 3 simple steps 

  1. 1. Weigh and value your precious metals 
    Start by locating the purity of your gold, which should be easily visible from the hallmark. If you are unsure of the purity of your gold, feel free to send it to us and we will determine its purity using special grading techniques. 

    Once you know the purity of your gold calculate its value using our precious metals calculator. 

  2. 2. Post your metal securely 
    You can either choose to post your metal securely through the Royal Mail or organise a home collection by Royal Mail, if you’d rather not leave the house. We recommend you select Insured Special Delivery to ensure your items reach us securely if you choose to post your precious metals. 

  3. 3. Receive payment in 24 hours 
    As soon as we have evaluated your items, we will make a payment to your chosen bank account, usually within two hours.  

    If you have any questions about selling to us, please don’t hesitate to get in touch, we’ll be more than happy to help. 

Sellers Beware: It’s Time to Find Yourself a Reputable Buyer  

Gold prices soar 

Gold prices tend to rocket in times of global and economic uncertainty. And this has never been as true as today. In 2022, as the world has started its recovery from the global pandemic, the war in Ukraine has created political turmoil and continued a drastic rise in inflation.  

This is not good for the population. However, there is one upside to this horrific conflict. And that’s the price of gold. The price of gold has risen as it often does in times of turmoil, this means you can currently get more value when you sell your scrap gold. 

Why it may be a great time to sell 

Many of you are likely holding onto gold objects in some form or another. Whether you have some old jewellery that you don’t like anymore or have a couple of gold coins gathering dust in the attic.  

In times like these, tangible assets like gold tend to rise in value. Because of this they can generate a quick return for those with scrap gold to sell.  

What does this mean for you?  

Well, as we’ve mentioned, it could be the perfect time to sell your unwanted gold. But there’s one catch. When the gold price spikes, the number of untrustworthy operators within the gold buying market increases. 

The tables turn: sellers beware  

Usually, it is the buyer who should beware of being tricked. This is because they generally have less information than the seller about the goods or services they are purchasing. 

However, with gold, the picture is quite different. It is the sellers who should be savvy, as your buyer is likely to have more knowledge of the gold market than you. In short, the buyer is in a stronger position to fool the seller than the other way round. 

Purity is the main consideration. Trustworthy buyers have the ability to test the purity of gold. When they have, if they are honest, they will offer you a fair price. The trick for the seller is finding a reputable buyer that will give you the price you deserve. 

Making sure you’re as prepared as you can be  

We are not saying that the gold buying market is full of dishonest individuals. We’re simply saying that it is more likely you might come across someone who wants to give you a lower price than you deserve, especially in times when gold is doing so well. And we want first time and seasoned gold sellers to be as prepared as possible. That’s why we’ve gathered a few of the most common ways you can be tricked when selling gold. 

Typical tricks of the trade: what to watch out for  

Buyers can be sneaky when you’re trying to sell your gold. Some of the most common things to be aware of include listing the spot price of gold rather than the price they are prepared to pay. They may also detail the price in ounces. This is not truly reflective of how much the seller will get. Because if you are selling scrap gold, you are possibly only going to have grams – not ounces to sell. 

Be particularly cautious with potential buyers that will not publish their buying rates before receiving your items. “Best price guaranteed” is not comparable to a genuine guide price! 

Many buyers will not pay anywhere near the spot price. However, Cash For Your Gold pays 95% of the gold spot price to the seller. To clarify, the spot price is important as it refers to the current value of gold on the investment markets. 

Moreover, Cash for Your Gold is one of the UK’s largest scrap gold buyers, we’ve paid out more than £60 million over the years. 

A great opportunity to generate liquid cash 

Selling your unwanted gold can be a great way of releasing cash. At Cash For Your Gold, we give you a fair price whether your precious metal is hallmarked or not. This is because we test your gold to check its purity, and if it is of the right level, we will pay you the market price for its true purity. 

Turn unwanted gold into money today  

We operate a simple process. Input the details of your gold object into our gold calculator, including the weight and carat, and we can generate its value. 

For example, if you had one gram of 22-carat gold to sell today, we could give you a price of £41.62 (April 5th).  

For full transparency we have outlined a gold price comparison table which gives you a clear view of the prices offered by other vendors, and how favourable ours are in relation to other sellers. 

If you would like any more information on selling gold, get in touch with our team on 01902 623 253, and we would be happy to help. Alternatively, we can meet you in person at our office in Wolverhampton. 

Selling Scrap Gold and the Ukraine-Russia Conflict 

As the conflict in Ukraine continues to fuel global and economic uncertainty, it may be a good time for you to sell scrap gold that you may have collecting dust at home.   

The conflict in Ukraine is showing no signs of easing. According to UN figures, the number of refugees recently surpassed the 2 million mark. It is this level of human suffering and political turmoil that epitomises the kind of uncertainty that pushes up the price of gold.  

Keep reading to learn why now may be a great time to sell your scrap gold. 

Why the war in Ukraine is causing the gold price to rise

Economic uncertainty centred around global supply chains and inflation, combined with the shocking events in Ukraine during the last week of February, pushed up the Gold price by approximately 8 per cent in February. President Vladimir Putin is now being accused of war crimes by individual governments. In particular Germany’s federal prosecutor has initiated this path, exploring the incidents relating to this accusation. In response to all this volatility, gold prices are continuing to rise. The price of scrap gold changes daily in accordance with the live spot gold price in the UK, and as of 10th March, gold was trading around £1,517 per troy ounce. The National Association of Jewellers even mentioned that some analysts believe gold prices can go higher in the coming weeks depending on how events unravel. 

Golden markets open up for sellers 

For individuals with spare reserves of scrap gold, it may be a good time to sell. Whether you want to trade old gold jewellery, coins, gold fillings or trinkets, we can convert your gold into cash, allowing you to spend your money on something you want to own.  

As well as gold, the price of energy is also being affected as the political situation unravels. European gas prices rose by a third after Russia threatened it would stop supplies following western sanctions imposed by Europe over the invasion. Russia’s attack on Europe’s largest nuclear power plant in Zaporizhzhia, southeastern Ukraine, has also fuelled concerns surrounding a potential nuclear catastrophe. Incidentally, Ukraine’s foreign minister said an explosion would be ‘ten times worse than Chernobyl’. This disaster has had a substantial effect on gold prices. After the attack on the nuclear plant, the gold price rose drastically and reached a six-day high at just above £1,479. 

Sell your scrap gold today  

To find out the value of your gold, you can use our simple, no-hassle gold calculator. Just enter the weight and carat of your gold object and find out how much you can make from selling your unwanted gold treasures. At Cash For Your Gold we can offer a more competitive price for your gold in comparison to high street prices.  

Our knowledgeable customer service team can help you with any gold queries you may have. If you need to liquidate some cash or simply want to offload anything made out of this precious metal, get in touch with our team on 01902 623 253, and we would be happy to help. 

If you would prefer a face-to-face meeting, we would be happy to make an appointment to see you at our offices in Wolverhampton. 

Scrap Gold in 2022: Swapping and Selling 

Among many British Asian families, gold is often bought or passed down from older family members to the younger generation as a wedding gift, signifying good fortune in the years to come. Sadly, possessing such ornate jewellery makes families the targets of theft by organised crime groups. 

Golden roots 

Gold prices are elevated in early 2022, meaning any gold in your possession is worth considerably more than it was for most of human history. However, with high prices comes greater risk of theft, as organised crime groups have been targeting communities with a particularly large amount of gold in their households. British Asian families are on the receiving end of many such burglaries and robberies, and it was estimated that Asian gold thefts had cost more than £140 million between 2013-19. 

Such losses are upsetting not just in terms of the monetary value lost but the irreplaceable sentimental value families place in golden heirlooms. One issue that comes with holding such items is that they are often produced by artisans on the Indian subcontinent with no forms of hallmarks, making it hard to trace the point of origin. Not only that, but it can be tricky to work out its purity with the naked eye. Fortunately, here at Cash for Your Gold, we use a process called gold assaying to determine purity using the latest in X-ray technology. 

Devices called X-RF machines can produce X-rays which when used on gold items produce forms of light corresponding to the molecular make-up of the item itself. As a result, we have the means to accurately tell you how pure your gold truly is. For example, we may find your item is closer to 21 carat, while items sourced from East Asia could be of higher purity, depending on the sources. With this process complete, we can give you an offer, allowing you to make the most of the high gold prices at present. 

Keeping gold in the family 

While selling the family gold could be easy for some, others might find it impossible to part with tradition. With this in mind, it might still be possible to sell your family gold and simply swap it in favour of modern bullion bars. This comes with a range of benefits: bullion bars are of a high purity, with clear serial numbers and purity markings. Not only that, but they come in a wide range of shapes and sizes, and can be stored in a secure way, allowing you to minimize the risk of theft in the future, while keeping gold in the family. 

Such items have tremendous value in sentimental terms, as gold is viewed as an auspicious metal in many cultures. By swapping old jewellery for bullion bars, traditions can be maintained, but with a purer gold item that can be kept safely and passed down for many more years to come. 

If you wish to learn more about selling scrap gold or selling and swapping old gold heirlooms for bullion, don’t hesitate to get in touch with Cash for Your Gold today. 

Glad Tidings for Selling Gold in 2021

With prices in the shops remaining higher than last year, and now the emergence of the Omicron COVID variant, you might be looking for reasons to be cheerful this Christmas. High gold prices could be the silver (or gold) lining in this situation, making the festive season an ideal time to sell gold. 

Reasons for cheer 

After months of social distancing, mask-wearing and seeing inflation eat into incomes, it’s easy to think Christmas 2021 will have few reasons for us to be cheerful. However, if you happen to have a bit of gold tucked away, it could be a truly golden opportunity, especially if you’re thinking of selling it today. That’s because gold prices are close to all-time highs set in the summer of 2020. Since the first news about COVID-19 broke in late 2019, gold has gained 20 per cent in value. 

Since 2015, prices have doubled, meaning any gold you may possess will have been revalued to the upside in a dramatic fashion. After a rough few years owing to the pandemic, you might find it tricky to find anything that will have gained as much value over these years which compares to gold’s performance. Prices are attractive for selling opportunities, as a troy ounce can offer a price of almost £1,350 as of December 2021. 

Cash for Your Gold has a gold scrap calculator, allowing for near-instant valuations of gold items. All you need to know is the weight and purity, and then you can feed it into the calculator. As of December 2021, just one gram of 9-carat gold could sell for £15.52, so all you have to do is imagine what a heavier item with a greater purity could be worth. 

Selling at Christmas 

By selling with Cash for Your Gold, you’ll be choosing a buyer which has been operating in the gold markets for many years, with plenty of experience to help you with your enquiry. If you wish to ensure a swift sale of scrap gold by year’s end, do make sure to get in touch with us, as our offices will be closed for the Christmas and New Year’s holiday. Please remember to fill our Seller’s Form, when you are ready to make a sale. 

Gold comes in all shapes and sizes, but also in terms of purity. For example, we happily accept white and rose gold, both gold alloys, which still hold high value when it becomes time to sell. If you wish to avoid the long queues in the Post Office when dispatching your item, we suggest taking advantage of the Royal Mail’s collection service when mailing your item to Cash for Your Gold. 

As COVID-19 cases remain high, mailing your item from the safety of your home minimises the risk of infection and offers a more convenient way to sell to us ahead of the festive holidays. For more information about selling with us, don’t hesitate to contact us today. 

Christmas 2021 Operating Hours

Our website will remain available throughout the festive period but our offices will close from 3.30pm on Thursday 23rd December 2021 until 10am on Tuesday 4th January 2022.

Due to ongoing disruption to the postal service in some areas, your last day for despatching Royal Mail insured Special Delivery parcels for delivery to us before Saturday 18th December.

Parcels that we do not receive by 1pm on the 23rd December will be processed after our return to work on 4th January and may be held in Royal Mail storage until that date.

We will resume normal service on 4th January 2022.

We wish all our customers a Peaceful and Healthy Christmas & A Happy New Year

Closing the Golden Circle by Recycling

Since people began mining for gold thousands of years ago, it was understood that gold could be recycled in one way or another. With COP26 reiterating the importance of sustainability in all aspects of life, recycling gold is not just a passing fad, but could be a solution to help reduce carbon emissions worldwide. 

A gold cycle 

One of the biggest drivers for selling gold is often because gold prices are so high. At Cash for Your Gold, we have seen gold resting close to all-time highs in recent years, so the reason for selling is clear. However, something which also comes at a high price is the methods used by the industry which sources much of the world’s gold. The cost comes not just out of pockets but is an environmental toll. Just one troy ounce of gold produced emits almost a tonne of CO2e. 

Add to that the quantities of toxic waste dumped just to produce such a small amount of gold, and you realise the scale of the issue. Alternatively, by selling scrap gold, you help increase supply and reduce the need for having to mine more gold out of the ground. Not only do you benefit financially from selling, but you reduce the demand for more mining. Unlike some commodities, gold isn’t consumed and irretrievably lost in the process, and so demand dynamics are different. 

If needs can be met with existing supplies through recycling, we can move closer to a world with lower emissions and fewer harmful chemicals released into the environment. There are signs that recycling is already a popular habit in the gold markets: 28 per cent of all gold supplies came directly from recycling alone in 2020. Imagine how much better things could be if we recycled more. 

Selling with Cash for Your Gold 

At Cash for Your Gold, we know the different shapes gold can take in the path towards being sold and recycled. Gold fillings, old coinage or jewellery, or even a bullion bar. One of gold’s best attributes is its longevity: it hardly oxidises, so no matter how long you’ve held some gold for, it will have kept its shine over the years and can be melted down easily into something brand new. 

We accept items made from not only high-purity gold, but also gold alloys such as white and rose gold. With prices as high as they are currently, demand is high and by selling today, you could help meet that demand with gold which could be recycled. In this way, your gold can become greener and help us all keep emissions down as we enter an era in which carbon neutrality is the ultimate goal. 

To learn more about selling gold and how to recycle it today, why not get in touch with us? Cash for Your Gold has facilitated sales of scrap gold for a number of years and will be happy to help with your enquiry. 

Copyright: bashta

What is Your Silver Coin Worth?

Silver coins are some of the most popular items for sellers to post off to Cash for Your Gold, but you need to know what you’re sitting on before considering selling silver coins. Not all of them were minted the same, and as you will discover, this can have a substantial impact on purity and overall value. 

Pure history 

If you want to know how far back silver coinage in the UK goes, you have to open history books and look to the Middle Ages. In those days, silver coins were often minted using the highest purity of the metal available, but this had its drawbacks. Pure silver is easily damaged and suffers from wear and tear, meaning mints had to start reducing purity gradually to make coins more durable in the long term. As a result, for much of English history, you would expect high-purity silver coins to consist of 92.5 per cent silver and the remainder would be made up in copper. 

This gave such coins 925 purity status, highly respectable, yielding prices at the higher end of the range. For centuries, legal tender was struck in this way, with various kings and queens ruling with coins bearing their image, with this silvery coinage produced along the way. However, it was all change in 1920, when rising prices forced a fundamental rethink in how silver coinage was produced. From 1920, purity was reduced to 50 per cent silver, with manganese and lower traces of other metals, to keep coins strong but somewhat silver-based. 

By 1947, silver was removed from virtually all coinage, severing a link to the country’s past. Modern coinage which has that silvery appearance might give you the feeling that silver has made a return, but don’t let it fool you: modern coins are typically nickel-plated steel. While the pre-1920 vintage of silver coins are as close to pure silver as you can hope to get, standard modern silvery coins in your pocket are best left as spare change rather than something worth selling. 

Selling silver coins 

As mentioned, purity of silver coinage dropped off from 925 to 500 between the pre-1920 era up until 1947. As with all precious metals, the higher the purity, the higher the price your items are expected to attract. If you wish to sell modern silver coinage, it’s likely to stem from specialist mints rather than modern legal tender. For example, a single gram of 925 purity silver would attract a price of 44p, whereas a gram of 500 purity silver drops the price down to 24p. 

While gold coins are of higher value individually, silver coinage is best when sold in bulk. If you have a good idea about the coin’s purity, it’s possible to get a near-instant free valuation from Cash for Your Gold, using our scrap calculator, which can be found on our homepage. It pays to keep an eye on silver prices first, just to make sure the price is right to ensure maximum returns when you do decide to make that sale with us. Our Live Silver chart keeps you posted about the twists and turns in the silver market. 

It can be tricky to assess the precise worth of coinage without an expert’s eye to take a look, which is why Cash for Your Gold is always happy to help. If you wish to make a sale or learn more about your coinage, give us a call on 01902 623 253.