Scrap Gold Blog


Thursday, 10 November 2016

India makes gold recycling easier than ever with mobile collection unit

India is one country that takes its gold recycling very seriously.

It’s the second biggest importer of gold globally after China and there’s currently a massive push for people to recycle their unwanted gold to help reduce the amount of the precious metal that’s shipped in – and costs the Indian government millions in duty.

To make it even easier to recycle gold, the country’s first mobile collection unit has hit the road – a van that’s on call to come and collect gold direct from your home. Muthoot Exim, part of the giant Indian Muthoot Pappachan Group, has launched the Mobile Muthoot Gold Point in addition to the nine Gold Point collection centres it runs around India.

The specialist secure van is equipped with state of the art gold testing equipment to make sure customers are receiving the correct price for their old jewellery and ornaments. The gold can even be melted down in the van while the customer watches.

The van pays out cash for the precious metal or makes an online payment into the customer’s bank account.

Muthoot Pappachan Group director, Thomas George Muthoot, told India today: "The move will also be in sync with the Government’s vision to recycle as much gold as possible and our mobile van service will help facilitate it better."

Muthoot says it’s collected an astonishing 200kg gold from its specialist recycling centres in the last year and a half and plans to open another four before the end of the year.

Although we can’t promise to send a van to your door to collect your old or broken gold jewellery, we do give you an efficient service to turn your unwanted gold into cash. It’s a great way to make some extra money for Christmas, so have a look in your jewellery box to see what you can convert into cash.