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Scrap Gold Blog

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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Working From Home? Search For The Gold Treasure In Your Home

Published Wednesday 1st July 2020

In the current lockdown climate, many of us are working from home. That rainy day you’ve been waiting for to declutter and tidy up? It’s today. And any unwanted items you find containing gold could be worth quite a bit as the gold prices run high amid global turmoil. 

“One man’s trash is another man’s treasure”   

As we enter the peak of the UK’s summer months, this doesn’t mean it is too late to get into your spare bedrooms and attic to finally begin that well overdue spring clear-out. 

Decluttering is good for us on an individual level as we benefit from the clarity that clearing out provides. But it could also help your financial health if you uncover unwanted gold treasures. 

You may even be sitting on a small fortune without even realising, as what may initially seem to be old junk could actually be more valuable than you think, if sold to the right person. 

The trick is to think outside the box and make sure you examine your unused items thoroughly before throwing them away. There are the more obvious finds, such as old, broken pieces of jewellery and watches, but many older household items such as cutlery and trinket boxes can also contain precious metals. 

You could even capitalise on the trend of fake gold teeth growing more popular again in recent years! Gold dental fillings and fake teeth can also be traded in for extra cash (however, we do not recommend attempting any kind of DIY dental work at home!). 

It is worth getting in touch with one of the Scrap Gold UK experts if you are hesitant and would like some further guidance on identifying valuable scrap gold, before sending it off to landfill, as you never know what you might be missing out on. 

Gold prices in 2020

There’s no denying it; gold is doing well in 2020. In May 2020, Schroders reported that gold has outshone all major asset classes with a year-to-date total return of 11.3 per cent, a backdrop caused by the COVID-19 pandemic.  

Investors see gold as a store of wealth, due to its unique properties and limited supply. Whilst other financial assets are deteriorating in value, there are predictions that the value of gold could increase even more. 

As lockdown measures begin to relax across different parts of the UK, there is no better time to sort through your personal belongings. Without needing to do any additional work, you will benefit not only from decluttering your home but your scrap gold could potentially be worth a greater value than the usual buying price during this economic downturn. 

Selling with Scrap Gold UK

You may now be asking, “well, what do I do with all of these items?” Even if you are not an expert in valuing gold, our specialist team at Scrap Gold UK are here to help. It is important to confirm that the items you are looking to sell do contain real gold, silver or other valuable metals because if they are fake they will not have value.  

Our online Gold Scrap Calculator offers a free valuation in two quick easy steps. All you need to know is the weight of the metal in grams and the carat – or purity – of the metal. 

Scrap Gold UK also offer live and historic price per gram data for gold, silver and other valuable metals. We recommend using these online tools to ensure you are getting the best value for your items when selling scrap gold.  

For more information about recycling your scrap gold, feel free to call our Customer Service Team on 01902 828 400, we are here to help. 

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