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Scrap Gold Blog

Operational Update

Published Friday 23rd July 2021

Our offices will be closed from 3pm on Friday 30th July until 9am on Monday 9th August, to give our hard-working team a break after another very hectic period.

We operate with a very small team and rather than rotating individuals onto annual leave and putting more pressure on the remaining staff members as a result, we have decided to close our offices for a full week so that everyone can get some much-needed rest and the opportunity to re-connect with family and friends as lockdown measures are now starting to ease.

We have timed the closure to minimize disruption as much as possible. Whilst we apologize for any inconvenience caused by the holiday closure, the wellbeing of our staff members and our ability to continue to provide outstanding service to our customers in the months ahead are of great importance to us. 

As our offices will be unoccupied, please do not send items to us for delivery during the closure. Mail will not be delivered to us during this period and will be held in Royal Mail or courier depots until our return.

Wishing all of our customers a peaceful and healthy summer.

The Team at ScrapGoldUK


Thursday 12th November 2020

As the latest Covid Lock-Down in England adds to the restrictions that are already in force, to varying degrees, in all parts of the United Kingdom, we wish to re-assure our customers that we are still open for business.

We have very strict protocols in place to keep our members of staff safe in the workplace and business continues, albeit not as usual.

We are still receiving packages sent to us by insured Royal Mail Special Delivery and for higher value sales we are able to make Covid-secure arrangements to receive personally delivered consignments, strictly by appointment only and subject to compliance with our protocols. Please call for details if you wish to visit us to sell items.

For clients that are self-isolating or unwilling to visit a Post Office, the new Royal Mail Collect service may be of interest. It is now possible to have insured Special Delivery parcels collected from your home or workplace by Royal Mail for a small additional fee. Visit Royal Mail Parcel Collect Service for details. (Select large letter or small parcel, depending on the weight of your items and select Special Delivery service with an insurance level that covers the contents.) We strongly recommend that a tamper-proof Royal Mail Special Delivery pouch is used when sending precious metals through the post. These pouches are available free of charge from a Post Office. If you are unable to access a Post Office to collect a pouch we will be happy to post a selling kit out to you, just give us a call.

The recent news that a Covid vaccine could be available in the near future seems to have given the Nation a glimmer of hope that 2021 could see the lifting of many of the restrictions that we are currently enduring. We all hope to see improvements in the situation which will allow as social a Christmas period as possible.

In the meantime, please follow the rules that apply to your particular area and Stay Safe.

The Team at ScrapGoldUK

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Physical Gold Market Squeezed, Boosting Seller Opportunities

Published Tuesday 29th June 2021



Just from looking at gold prices last year, you can see the pandemic was a golden opportunity for anyone with a bit of gold to sell at long last and make once-in-a-lifetime amounts from doing so. The price was right, as it were, as gold was hitting all-time-highs, but now a new rally could be in the pipeline, making 2021 every bit as good a time to sell.

Coins become increasingly popular

Gold coins are some of the most attractive gold items on the market, and come in all sorts of varieties: Sovereigns, Britannias, Krugerrands and American Eagles, for example. They are just some of the items you can sell with Scrap Gold UK, and when you see how the gold coin market is doing, you might want to get in touch sooner rather than later.

Supply of gold coins is constrained by the pandemic, but demand has continued to rise. The US Mint captures just a slither of this trend, as they revealed that sales of gold coins rose 258 per cent in the last year. Unless gold supplies increase rapidly to counteract this spike in demand, prices could also spike, making any gold coin you may have incredibly valuable all of a sudden.

With mints struggling to keep up with higher-than-expected demand, the second-hand market for gold coins is the next best bet for many, which is why you could be sitting on a literal goldmine, if you feel like you’re in a position to sell gold coins in 2021.

Sell second-hand with Scrap Gold UK

Gold coins are especially valuable to the right buyer, because they are historical records of times long ago. Sovereigns have a history stretching back centuries, and are greatly treasured when a new one finds its way onto the market somehow.

Scrap Gold UK is especially good at helping give valuations to gold coins and other such items. If you’re looking for a free valuation, why not try our Gold Scrap Calculator. So long as you know the purity and weight of your item, you should be in a position to work out what it could be worth in today’s money, as it will surely have appreciated many times in value since it was first minted.

When you send your coin to us, subject to its condition, we could be in a position to offer you a selling price worth 100 per cent of its spot price. Demand is just that high - you would be entering into the sellers’ market at the optimum time, as buyers are falling over themselves to get access to coins wherever they can be found.

If selling is on your mind, but you’d like a valuation, get in touch with Scrap Gold UK today, by calling us on 01902 828 400.

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Scrap Gold Ripe For Selling In Post-Lockdown Period

Published Monday 24th May 2021

COVID-19 cases continue to diminish in the UK, thanks to the lockdown restrictions in concert with the roll-out of vaccines since the new year. Even as good news fills the headlines, many of us are still feeling the pinch, having taken a financial hit since March 2020.

However, if you have even a single piece of scrap gold in your home, you could be in for a golden surprise if you should choose to sell as restrictions ease in the summer of 2021.

Summer 2021 could be golden

What makes the summer of 2021 a golden opportunity for you to consider selling scrap gold today? Prices have been on a tear since 2015, having effectively doubled up until the summer of 2020. While gold prices remain steady since last year, they remain elevated and higher than virtually any time in nominal terms.

Selling with Scrap Gold UK is one way to cash in on this so-called gold rush. According to our Scrap Gold Calculator, you could make £15.20 from selling just one gram of 9-carat gold. Imagine the financial boost to be had from selling a heavier item with a greater purity. It certainly pays to do an audit of the gold lying about your home, as you may be in for a surprise!

What better way to celebrate restrictions easing than to enjoy having a bit more cash from having sold any unwanted scrap gold this summer?

Gold buyers galore

There are many gold buyers to choose from, but Scrap Gold UK is worth choosing, as we are specialists in this market. We know the real thing from electroplated alternatives when it comes to gold items. Our aforementioned calculator can be used at home to help you value your gold, but you can always arrange an online valuation with us over Zoom, if you need a discerning eye to help work out what your item is really worth.

If you are in a position to make a sale, it’s the right time to start filling in this Seller’s Form. When selling, we strongly encourage customers to take advantage of the Royal Mail’s door-to-door collection service. This means you can hand your package to a Royal Mail courier from your doorstep and track it along its journey by using the fully insured Special Delivery service, giving you peace of mind during the sale.

When we receive the item, we take note of current gold prices and will analyse your item, before contacting you to make an offer. With gold prices elevated this summer, the argument for selling sooner rather than later grows harder to deny. When selling, why not make it Scrap Gold UK?

Call us on 01902 828 400 to learn more about doing so today.

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Scrap Gold UK Keeps An Eye On Gold Authenticity

Published Monday 26th April 2021

We all want to make sure that the things we sell get a fair price, especially when it comes to precious metals such as gold and silver. These metals possess a significant intrinsic value, and it’s hard to fake them without raising red flags. Things to spot include weight, the existence of hallmarks and certification.

High prices for gold and silver make it easy for some to make a quick profit by selling less worthy items as if they were as good as gold. That’s why we have some ideas to consider, if you are on the verge of making a sale today.

Scratch beneath the surface

Many sellers might apparently offer you a slice of cheap, easy-to-acquire gold or silver items such as coins, helping give you the illusion that you’ve got a lucrative item worth selling as prices rise in the future. However, Scrap Gold UK knows that it’s hard to fake the real thing. True gold is a dense metal, and shouldn’t fade or get tarnished.

Electroplated gold and silver are sly ways for vendors to deceive you into buying counterfeit items, as they are actually comprised of a far cheaper metal covered in a superficial layer of gold or silver. Gold and silver, in their true form, come at a price, and if you suspect you are selling something which you originally acquired far too easily, this could be a sign to watch.

A lack of authenticity can be easy to determine if gold coins don’t have a certificate of authenticity. Such documents are essential in allowing you to trace the origins of your item, and ensure you purchased the original item through a reputable seller.

A bird’s eye view of your item

Scrap Gold UK has the expertise required to help determine whether your item is what you think it is. We offer video calls over Zoom, to observe your item from the safety of your home, or better still, you can post them to us by Royal Mail Special Delivery. Use the secure home pick-up service and track your package, and then wait for us to analyse your item.

We have the tools and the know-how to reveal whether you have an item worth its weight in gold or silver. It pays to bring in the experts, and we are always keen to help sellers get what they deserve for a true piece of gold or silver.

Got an item but want to be sure about what you could make from selling it, before posting it to us? Check out our Gold Scrap Calculator. All you need to use it is information such as the item’s weight or purity. It offers a near-instant valuation completely for free.

Think you have an item which needs checking over, before selling to us? Call Scrap Gold UK on 01902 828 400 today.

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Gold And Silver - Making Sure It’s The Real Deal

Published Thursday 1st April 2021

As buyers of precious metals for many years now, Scrap Gold UK are experts when it comes to authenticity. We know that it’s certainly a seller’s market, as gold prices are close to record highs, offering a reward for those with some scrap gold they wish to finally sell today.

However, we’re noticing a number of sellers mailing in significant amounts of ‘false’ gold or silver - items which appear to be pure but are actually cheaper alternatives. This short-changes sellers, so we’ll give you some facts to help inform whether your item is indeed genuine and able to attract a fair price.

Gold and silver never fade

One of the most common ways you might be short-changed into having false gold or silver is through vendors having previously offered you items which are in fact electroplated. This electrochemical process gives metallic items the appearance of having that distinctive gold or silver shimmer, but scratch below the surface, and you’ll find they used copper as a base metal.

That’s because electroplating applies a thin layer of gold or silver over the cheaper copper base, but this layer degrades over time. One way to spot for electroplated items is to see whether the thin layer has worn through. True gold and silver are renowned for being resistant to oxidation. You may find the odd scratch or dent, but gold and silver should never look faded or worn through.

The issue with electroplating is simple - while the item looks golden or silvery and lasts for a time, it isn’t true gold, and just a cheap alternative. This catches many a gold seller out, when the time comes, and can be a great disappointment, which is why we strongly suggest you check your item carefully before making a sale.

Check for a hallmark

If checking for any signs of tarnishing is easier said than done, here’s another way of assessing whether your item is truly genuine - hallmarks. Gold and silver items above certain weights are legally required to bear hallmarks. These allow people to see how pure they are, as well as allowing them to see the Assay Office and Sponsor Mark they were given.

Purity is best identified on gold items in the form of three-digit numbers, counting up to 999. If you should find a number such as 375, that denotes the item as having 9 Carat, or a purity of 37.5 per cent. Any higher, and you can expect your item to be worth more, thanks to higher purity.

To see what your item could be worth if you sell with Scrap Gold UK, simply feed its purity and its weight into our Scrap Gold Calculator, so you can find a fair value for it without having to send a single gram. If you’re ready to sell, it’s time to fill in the Seller’s Form.

If you still have questions, regarding the quality of your scrap gold or silver items, feel free to give us a call on 01902 828 400 and we’ll do our best to help with any enquiry you may have.

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2021 Reddit Silver Spike Poses Selling Opportunity

Published Monday 1st March 2021

With a much greater degree of affordability relative to gold, silver is often a more accessible precious metal for the average person. Perhaps you have a bit of family silver stowed away - cutlery sets, jewellery or other items of silver which have been steadily appreciating in value over the decades.

If you’re wondering when is the right time to sell silver, 2021 could prove to be a perfect time to do so. That’s because internet forums and smartphone apps are allowing a new generation of investors to bid prices higher, in sudden and unexpected price rallies.

That could pose the perfect opportunity to facilitate a sale of scrap silver with Scrap Gold UK.

Reddit strikes silver

It started with an ailing video game vendor in the United States called GameStop – and a group of Reddit users who contributed to a forum on the site called r/wallstreetbets. Users began to spur a sudden flurry of demand for GameStop shares to squeeze hedge funds which held short positions in the company. Before long, the forum turned its attention to physical silver and its paper silver derivatives.

The resulting surge in demand for silver items caused prices to spike by almost 20 per cent in just three trading days. If you held silver and timed a sale at the right time in February 2021, you could have cashed in on this unforeseen silver rush.

Making a sale requires that understanding of which direction markets are going - that’s why Scrap Gold UK includes a live silver price tracker. Use it to catch the twists and turns in silver prices, to help you time a sale with maximum impact, as the price gets caught in its next upswing.

As Scrap Gold UK is able to help you make a sale in the digital space, we have less overheads than many leading scrap silver buyers. That means we can offer a more favourable price for scrap silver items. Check out our Scrap Silver calculator, to see what your items could be worth, allowing you to make a free valuation.

As of February 2021, an item such as a silver chain weighing 45 grams with purity of .925 could sell for over £22.

Discreet silver sales online

When making a sale of scrap silver through Scrap Gold UK, it’s important to be mindful of the restrictions still in place, during the ongoing pandemic. Standing in line at the Post Office to post your package might seem like the obvious thing to do, but to limit the spread of COVID-19 and ensure your own safety, it is far more convenient to book online for collection by Royal Mail from your home.

The process is quick and easy to set up, and the Royal Mail insured Special Delivery service allows you to track your parcel on its journey to our headquarters. Upon its arrival, we can assess your item and offer a final valuation for you. To initiate a sale, fill in this Seller Form here.

If you have any queries about making sales, feel free to give us a call on 01902 828 400, and a member of our team will be available to assist you.

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Lean January Could Be Golden In 2021

Published Tuesday 19th January 2021

Last Christmas was unlike any that came before, but even so, many of us will have tried to include as many of the trimmings and creature comforts to get us through the festive season. As a result of a weak economy and continued restrictions due to the COVID-19 pandemic, January 2021 will be a leaner time than we could have anticipated.

But it doesn’t have to be all belt-tightening and gloom - a bit of scrap gold could go a long way, and provide that much needed injection of cash, to get you through the cold grey month of January.

January could be golden

Prices in the gold scrap market have been exceptionally high in the last 12 months especially, making January 2021 an opportune time to line up a sale of scrap gold with Scrap Gold UK. We’ve been tracking the price of gold on the open market, and it’s been hitting new record highs as recently as late summer last year.

At one point, prices hit £1,500 per troy ounce. Prices have dipped somewhat since then, but remain high by historical norms, and this has fed through into the broader gold scrap markets. As a result, we can offer you as much as £15.64 for just one gram of 9-carat scrap gold. Our overheads are minimal as Scrap Gold UK offers its services online, allowing us to offer you an exceptionally good price for whichever item you may wish to sell.

It pays to keep an eye on where the price of gold is going, so you can time your sale to ensure real value for money. Use our Gold Scrap Price Tracker and the Gold Scrap Calculator to stay up to date on gold prices and then see what your item could be worth, should you wish to sell today.

Safe sales through the post

As the COVID-19 virus continues to infect large numbers of people in the UK at present, lockdown restrictions remain in place across the country. In the interests of health and safety, it is advised for all of us to minimise contact with those outside our households. Understandably, it isn’t ideal to have to leave the safety of your home to stand in queues at the Post Office.

Instead, you can go online and arrange for Royal Mail to collect your package straight from your door. Want to make sure the item gets where it’s supposed to? You can track your parcel here. Ready to make a sale? Fill in this Seller Form here.

Scrap Gold UK has a dedicated team, ready to answer any questions you may have about selling your gold today, so don’t hesitate to get in touch, by calling us today on 01902 828 400

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Christmas 2020 Operating Hours

Published Tuesday 15th December 2020

Our website will remain available throughout the festive period but our offices will close from 3.30pm on Tuesday 22nd December 2020 until 10am on Monday 4th January 2021.

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 22nd December should be Thursday 17th December.

Parcels that we do not receive by 22nd 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 2021.

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The Opportunity For A Pre-Christmas 2020 Cash Boost

Published Monday 14th December 2020

You don’t need to read the headlines to know 2020 has been a tough year - the COVID-19 pandemic has done much to our health and our economy. But it’s not all doom and gloom - having a bit of scrap gold gathering dust around your home could offer you that much-needed cash boost ahead of Christmas 2020.

With prices higher than during any previous festive season on record, your scrap gold could go further than before, so it could be the opportune time for you to make a sale with Scrap Gold UK today.

A pre-Christmas boost from gold

The ongoing restrictions from the COVID-19 pandemic mean you’ve probably spent far more time within your four walls than ever before. That may have given plenty of time for you to go through the home, and think long and hard about what you need and what can go.

Scrap gold has become increasingly valuable this year, and Scrap Gold UK has been following gold prices higher and higher in 2020, on news of recession and economic uncertainty. Prices touched £1,500 per troy ounce for the first time this summer. As a result, we’re able to offer customers as much as £15.93 per gram of 9-carat gold.

It’s one of the most competitive prices to find in the gold scrap markets, as Scrap Gold UK’s service is highly digitised, meaning we require lower overheads than most buyers. To see what your item could earn you, check out our Gold Scrap Calculator here - all you need to know is the weight and purity of your item.

Make a sale with Scrap Gold UK today

Higher prices for scrap gold mean something of a pre-Christmas dividend, if you time your sale right. Scrap Gold UK has been helping customers make timely sales for many years, and we do so using a secure, easy-to-use service.

For more information about how to sell with Scrap Gold UK today, check out our How Does It Work guide here. When you’re ready to go, it’s time to fill in the Sell Your Gold form here. With a few short clicks, you can make a sale easily, without even having to set foot outside your front door.

Please note that Scrap Gold UK will pause receipt of scrap gold items over the festive season from 17th December 2020, so make sure to send your item ahead of time, to carry out a speedy transaction. To avoid having to visit a Post Office branch in person, why not try the online Post Office collection service?

For more information about making a sale today, give us a call on 01902 828 400, to get in touch with our team, in case you have any enquiries to make.

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Lockdown 2.0 Is The Perfect Time For A Scrap Gold Clear-out

Published Tuesday 1st December 2020

It’s easy to feel a sense of déjà vu, as England emerges from under its second major lockdown since COVID-19 first reached our shores.

With this in mind, the nights are longer and more of us are spending time at home.

So, if you’re doing that much-needed clear-out and find a bit of scrap gold lying around or have an item you’ve been meaning to sell, now could be the perfect time to consider doing so. Prices are high, and you’ve got all the tools you need to make an easy sale right at your fingertips…

Gold is near all-time highs

The price is right - this summer, we saw gold prices top £1,500 per troy ounce for the first time ever. At Scrap Gold UK, we are able to offer you a market leading price per gram of 9-carat gold. This is an opportune time to consider locking in the gains to be had from selling gold at this high.

Timing a sale is everything, so that’s why we use our Live Gold Price Tracker, to help you identify when the price is high enough for you. To get an accurate reading of what you could expect to make from selling your item, our Gold Scrap Calculator is on hand, giving you an accurate reading. All that’s needed is the weight in grams and the item’s carat or purity.

Whether it’s old coins, cutlery or even old gold tooth fillings, we’re happy to take a look and help value your items, to realise the great gains you have locked away in your home.

Post Office makes delivery easier than ever

It’s never been easier to send scrap gold items by post than in 2020. While restrictions remain in place, Scrap Gold UK is doing everything it can to help in the fight against COVID-19. Visits at our offices in Wolverhampton are by appointment only, and we encourage customers to embrace the idea of dispatching their gold in a way that ensures their safety.

For example, one of the best ways to send your items to Scrap Gold UK is through the Post Office’s Click and Drop service. This allows you to have your parcel collected from home, avoiding having to make the journey to the nearest Post Office and stand in a queue. All it takes is a few clicks of a button, a tamper-proof sack or packet in discreet packaging and you’re set.

For all the necessary information about sending your item, including the address to send to, check out our Selling Gold Online page.

Payment can be made swiftly, in the form of a bank transfer or a cheque, within at most a day following the receipt of your parcel (excluding weekends and bank holidays). By calling us on 01902 828 400, you can be put directly in touch with our Customer Service Team, who will be on hand to help with any enquiries you may have.

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Clear-Cut Prices For Scrap Gold And Silver In 2020

Published Monday 2nd November 2020

When you plan to sell with Scrap Gold UK, you know you’ll get a fair price for your scrap gold or silver. Our word is our bond, and worth its weight in gold. We’ve got the Scrap Gold Calculator to calculate it.

At a time when precious metals prices are elevated, any scrap gold or silver lying around your home could fetch a hefty sum. However, not all buyers offer a fair price for it, for a number of reasons. Scrap Gold UK is as up-front as possible. Here, we explain why.

Easy to calculate a fair price

As prices have risen for precious metals, the number of unscrupulous or even fraudulent gold buyers is on the rise. This phenomenon occurred during the last precious metals bull market in the 2000s, and we know the signs.

Sites purport to offer an easy opportunity to sell scrap gold and silver, but keep customers in the dark about the vital information they actually need - accurate prices and rates, consistent contact information and a way of meeting in person if possible (when restrictions are eased). That’s not right, and Scrap Gold UK believes in doing things in an above-board manner, with as much clarity as possible.

The price of gold changes all the time, subject to market forces. Timing is everything, so you’ll want to avoid selling when the price is low. Scrap Gold UK’s website has a special Live Gold Tracker, letting you see how prices change over the course of a day.

The price of gold has doubled in the last five years, boosting the chances of making a respectable sum from a sale. By using our Scrap Gold Calculator, you could see today’s price of £16.72 per gram with a piece of 9-carat gold. With us, you’ll be in no doubt about precisely what your item could be worth, with just a few short clicks. No second-guessing - just the clear numbers in black and white.

Secure sales in digital form

Scrap Gold UK is able to offer such generous prices for a good reason. We don’t have the same overheads that many buyers have, allowing us to give you a fairer price for your gold or silver. Our sales are handled digitally, making the process streamlined, secure and modern. Your items are safe with us.

The process is as follows - value your gold first. If you’re happy with the price, it’s time to fill in our Sell Your Gold Form. Once printed off, we’ll give you a unique reference number for your items. Place the items in a parcel with the signed form. For security reasons, avoid mention of anything to do with the contents on the outside of the parcel.

If you would like peace of mind, you can even track your parcel in transit. Once your items have been received safely by us, we will value them and make you an offer. Your payment will be made direct to your bank account on the same day. If you’re new to selling gold or silver, don’t worry. Our team is friendly and approachable, ready to help with any enquiry you may have.
 

To get in touch, call us on 01902 828 400, in case you wish to make a sale or have any questions about a potential sale. We look forward to helping you.

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The Great Gold Rush Of 2020 In Full Swing

Published Thursday 1st October 2020

Gold rushes are no longer consigned to the history books. 2020 is a year of repeated record highs for the yellow metal, with gold surging above the major price level of £1,500 for the first time this summer. Supply of gold is tightening as investors increase holdings to protect their money in the event of market turbulence, helping maintain an effective price floor for gold moving forward.

This period of exceptionally high gold prices is triggering people to realise the gains of what little gold that remains in the world, making 2020 an ideal time to consider selling gold. The turbulence caused by COVID-19 and the lockdown that has ensued has triggered a once-in-a-lifetime rally in precious metals, so let’s see how people are making the most of it.

Lucky men strike gold Down Under

Australia played host to one of history’s greatest gold rushes in the 1860s, so it’s no surprise to see the news that two men uncovered sizable nuggets of gold near the town of Tarnagulla in central Victoria, Australia back in August. Victoria is renowned for its vast gold fields which were discovered back in the 1850s, with acres of so-called virgin territory, just waiting for eager miners to find fresh seams of gold.

In scenes broadcast on UK and Australian television, the two men found nuggets with a combined weight of 3.5kg. On paper, such a vast amount of gold could easily earn as much as A$350,000 when the nuggets come to be sold. Despite their mottled appearance, the two nuggets found in Australia last month reflect the lasting value of gold itself. Few precious metals can boast such a high valuation for their relative size.

This just goes to show how gold can come in all shapes and sizes, and still yield a large sum of money. The only question is, who do you turn to, if you have gold and wish to sell, but you want to receive the right price for it? 

Scrap Gold UK is here to help.

UK Scrap Gold - here for the 2020 gold rush

The 2020 gold rush has been breath-taking for us to watch at Scrap Gold UK. A troy ounce of gold used to be worth £700 back in 2015, so seeing the price of gold now hitting £1,500 in 2020 has blown all expectations out of the water.

If you have any scrap gold lying around, you could be sitting on a literal fortune, based on the last five years’ worth of price increases for gold. Scrap Gold UK is the ideal buyer to turn to, in order to facilitate a swift and secure sale of scrap gold in 2020, as we are specialists in this field, having done so for many years.

As of late September 2020, just one gram of 9-carat gold could yield as much as £16.99, if you sold your item with Scrap Gold UK today. Why wait? If you have an item you wish to sell today, don’t hesitate to contact us. Call us on 01902 828 400 or contact us here to make a golden dividend with your scrap gold.

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Gold Prices Climb While The Economy Freefalls

Published Wednesday 9th September 2020

When the Chancellor announced the UK was entering a recession in early August he predicted “tough times ahead” for the UK. While the UK is in the early days of what could prove its most damaging recession ever, gold prices are going through the roof and have been trending close to record prices for the last few months. 

This means that those with the ability to sell scrap gold that’s gathering dust in an old drawer, or on a vanity table, could be missing out on a potential windfall, which could tide you over during these tough times.

Gold prices and economy move in opposite directions

Gold prices have been trending generally upward for a long time. The price of gold has almost doubled over the last decade, and prices have exploded this year, rising by as much as 30 per cent. This is good news for the seller in an otherwise tough economy. 

2020 has been a strange year to put it particularly mildly. Britons have had their freedom of movement limited for the first time since the world wars of the 20th Century, and the ensuing global pandemic triggered recession has left many jobs at risk.

Meanwhile in the first week of August gold prices reached their highest ever mark. Precious metal commentators have long awaited the day that gold would eclipse the $2,000 per troy ounce – or £1,500 in sterling – price point, as prices consistently surged higher and higher. Gold is currently trending in the high $1,900s. Today, 2nd September, gold prices are £1,464.23 per troy ounce, while at the beginning of August they were at a record high of £1,508

Check the current gold price with our Live Gold Prices Chart, here you can see the how the gold price is trending over a timespan of your choice from 10 minutes to 5 years

Could gold prices continue to reach new heights? 

It is quite possible that gold prices will continue to rise. Gold often holds its value or increases in value during times of crisis and poor economic performance, but for investors, there is no guarantee. 

Some analysts are making bold predictions at the present time. Frank Holmes, CEO at investment firm U.S Global Investors thinks, “It’s quite easy to see gold going to $4,000.” Analysts point to prices rising to this level in the next three years, however, factors like the development of a COVID-19 vaccine and the US 2020 Presidential Election could change forecasts quickly.

Sell your scrap gold in 2020

As gold prices are at historic highs, it’s a seller’s market right now. Should you have any unwanted gold items at home you could stand to make a not inconsiderable sum from selling your scrap gold. You might think that you don’t have any valuable gold at home, especially unwanted gold, but did you know that just one gram of 9 Carat gold will currently fetch you £16.53? For instance, at current prices, we could offer £49.59 for a 3 gram necklace.

Discover how much your gold could be worth with our easy to use gold calculator.

How to sell scrap gold

In just three quick steps you can sell your scrap gold to Scrap Gold UK. You’ll receive your sale proceeds on the same day we receive your gold.

  • Value your gold

Use our Scrap Gold Calculator to value your gold items. We accept jewellery, bars, and coins in gold, silver, platinum, and palladium.

  • Post by special delivery

If you are satisfied with your estimated gold price, complete the Sell Your Gold Form, and package your items and form in a secure jiffy bag. We recommend our clients use a Royal Mail Special Delivery tamper-proof envelope. See our full delivery details for safety precautions and our address.

  • Get your money

We pay out via bank transfer or cheque. You’ll receive your funds on the day we receive your items.

Selling with Scrap Gold UK

To learn more about selling your unwanted scrap gold, contact us. You can call our team on 01902 828 400 today.

We’ll also happily invite you to meet us face-to-face in our Wolverhampton offices to discuss your items. 

Call us on 01902 828 400 to book an appointment.

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Time To Re Group

Published Thursday 30th July 2020

When Covid – 19 hit in March we made the decision to keep working for as long as possible and furloughed non-essential staff where we could. Our staff members have been amazing during this crisis. Despite the imposition of lock-down, social distancing and hygiene requirements they have soldiered on and handled unprecedented demand from our customers. 

We have now arrived at the point where, frankly, our team need to take a break. Rather than rotating individuals onto annual leave and putting more pressure on the remaining staff members as a result, we have decided to close our offices for a full week so that everyone can get some much needed rest and the opportunity to re-connect with family and friends. As lockdown measures are now starting to ease we think that August would be the best time to take this break. 

As a result, our offices will be closed from 3pm Friday 7th August 2020 and will re-open at 9am on Monday 17th August 2020. 

During this period our offices will be unable to accept deliveries and any parcels addressed to us will remain in the postal system until our return to work. 

PLEASE DO NOT SEND PARCELS TO US FOR DELIVERY DURING OUR OFFICE CLOSURE. 

We would encourage all of our customers to make any planned sales during the next week to avoid delays in processing. 

Whilst we appreciate that these arrangements may cause some inconvenience, for which we apologise, the wellbeing of our staff members and our ability to continue to provide outstanding service to our customers in the months ahead are of great importance to us. 

A huge ‘Thank You’ to all of our customers, old and new, for your loyalty, patience and continued support during these unprecedented times and for the many emails and even letters of appreciation that we have received. 

Stay safe and well, it is by no means over yet! 

The Team at Scrap Gold UK

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It’s Time To Start Thinking About Silver

Published Monday 20th July 2020

Gold places first, silver comes second… This is how these precious metals are typically perceived in the market when it comes to both value and demand.

However, silver has recently begun to dominate the headlines due to a significant increase in demand and in July 2020 it reached its highest price in recent years. 

What’s driving the rise in the silver price?

The price of silver has risen 66 per cent since March 2020 when its lowest point was recorded, as reported by the Wall Street Journal. Now hitting $19.50 a troy ounce in New York, experts are certain that the market could erupt at any time. So what is the reason for this surge in demand? 

Silver is typically seen as a good investment, particularly during an economic downturn. This is a likely motivating factor behind the historical level of silver purchases made via exchange-traded funds (ETFs) over the past couple of months. 

But industry also has a role to play in the silver price rise. With lockdown measures being relaxed, we are seeing factories start to reopen and production is returning to normal levels – albeit slowly. 

With more production taking place, comes more demand for materials. Out of all of the precious metals, silver is sought after as an industrial metal because it is reflective and is used to create many technology devices. 

Taking these factors into consideration, we would expect the rise in demand for silver to be directly caused by both the increase in factory productivity and the economic downturn.

Look for the silver lining

It is difficult to predict when this increased demand for silver will end and as always we won’t know we’ve reached the peak of the price point until we’re on the way down again. 

With this in mind, there’s no time like the present to look at your portfolio. If in doing so you consider selling some silver, it is important to know which silver items are worth the time and effort of selling. 

Gold jewellery tends to offer a decent cash sum upon sale even in smaller volumes. However, silver is a different matter. While its value might be on the rise, it is still notably lower than that of gold so you really won’t see much of a return unless you’re looking at selling significant quantities of the precious metal.

That does not mean all hope is lost when it comes to getting a good price for your silver portfolio. Owning a collection of silver coins and silver bullion bars poses an opportunity for selling at a competitive price as these items contain more pure metal and are of a substantial weight.

Selling silver with Scrap Gold UK

When it comes to researching for new ways to sell silver, you should not dismiss scrap gold companies. 

Scrap Gold UK was founded in the world famous Birmingham Jewellery Quarter and offers competitive rates for precious metals, including silver and gold. Our online Scrap Silver Calculator offers a free valuation in two quick and easy steps; all you need to provide is the weight in grams and purity of the metal. 

For more information about capitalising on your scrap silver, feel free to call our Customer Service Team on 01902 828 400 - customer satisfaction is our number one priority.

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