Scrap Gold Blog


Wednesday, 22 July 2009

Melting Scrap Gold - The Video

People are always interested in what happens to their old scrap gold jewellery once we receive it... It's actually quite interesting so we thought we'd created a quick video clip to show the before and after process for your old scrap gold!

Don't forget, we're always looking for more scrap gold.




Tuesday, 21 July 2009

A guide to British Hallmarks

Hallmarks date back over 600 years to the fourth century AD and were introduced by the Byzantine Empire as a standard to identify silver - their most precious alloy - through a series of punch marks in the metals surface, clearly indicating to the holder a guaranty of authenticity and purity.

In the UK, since 1300 the law has required anyone manufacturing gold or silver metal to ensure an accurate and legible hallmark is stamped on the item to provide an instant identification of the items purity and origin. The Hallmarking Act of 1973 introduced further guideline to clarify the process of identifying the items manufacture and make-up and to introduce a structure for hallmarking platinum metals. As of January 1999, all UK manufactured gold, silver and platinum must be identified with the marker or Sponsors mark, the assay office mark and the fineness code.

British Assay Office Marks




Monday, 20 July 2009

Five Reasons to choose Scrap Gold UK

Why choose Scrap Gold?

The Original
Scrap Gold UK are a part of Sabre Jewellery, a Birmingham Jewellery Quarter based company with a long history in the jewellery industry - Highlights in our years of business include presenting HRH Prince Charles with a set of cuff-links during a visit to Sabre Jewellery. Discover more about Scrap Gold.

British Jewellers' Association member
As a full member of the BJA (British Jewellers' Association) our clients have the peace of mind from an established industry association and an independent point of contact should you have any questions regarding our service. View our BJA profile.

Hundreds of happy customers
We've purchased scrap gold from hundreds of customers and many get back in touch with feedback on their experience, read some of our customers comments.

Insured Delivery
Using Royal Mail's parcel tracking system you can take peace of mind knowing that your package is insured by Royal Mail. Track your parcel now.

Fast payment
We aim to dispatch your cheque within 48 hours of receiving your package and we'll keep you informed at every stage of the process, from receipt to dispatch - and don't forget, using your Royal Mail Special Delivery tracking code, you'll know exactly where your package is... Sell your scrap gold now.




Wednesday, 15 July 2009

Charting the price of gold between 2000 - 2009

The steady rise in the price of gold over the past decade is common knowledge, the best way to demonstrate this increase is with a visual graph charting the price January 2000 and July 2009 - a period which has seen the price per ounce rapidly accelerate by more than 200%.




Tuesday, 7 July 2009

How is the price of gold set?

Did you know... While the global gold price is always quoted in US Dollars ($), it's actually calculated on a twice daily basis in Pounds Sterling (£) by the London Bullion Market Association!

Gold is a sensitive commodity which can be affected in value on a minute-by-minute basis by supply, demand and financial market activities around the world - but how is the actual daily gold price set?

The widely accepted benchmark for gold pricing is controlled by the London Bullion Market Association. Twice a day, five members of the LBMA meet and 'fix' the gold price, this generally takes place at 10:30 and 15:00 each day.

The London Bullion Market Association was formed in 1919 and consited of the five principal London gold traders of the time - Rothschild & Sons, Samuel Montagu & Co, Mocatta & Goldsmid, Pixley & Abell and Sharps Wilkins. The first price fixing was set on the 12th September 1919 and was agreed at £4.9375 per troy ounce (18 Shillings and Ninepence in old money).

The five current day members of the LBMA responsible for fixing the price of Gold are Barclays Capital (Acquired Lehman Brothers in 2008), HSBC (The world's third largest bank), Deutsche Bank (Instrumental in building the original Northern Pacific Rail road), Société Générale (Paris based French bank with operations in over 77 countries worldwide) and Scotia-Mocatta (Part of the Bank of Nova Scotia).

Although the gold price is fixed twice a day by the LBMA, the price changes almost immediately as trades are made based on the new price fix - The fixed price serves as a point of reference or benchmark for financial institutions and related gold industries.

For further information on the London Bullion Market Association visit their website at www.lbma.org.uk.