Gold Silver
Selling Gold & Silver in the UK
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 pricesThere’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 silver5) Undervalue the purity of silver
5) Use clever and long contracts to avoid having to pay the price they advertise.
6) 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!!
7) Pay By Bank Transfer which can take up to 3 days.
Charge extra for cash or return postage.
Sourceshttp://www.birminghamsilvercompany.co.uk
http://www.oft.gov.uk/news-and-updates/press/2011/16-11
http://www.birminghamgoldcompany.co.uk
About the Author
Debt Collapse – $20000 Gold – Mike Maloney On Gold, Silver & Economics
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