Craig Ellyard asked:


g unwanted or scrap gold and jewellery is becoming an increasingly popular way of quickly raising some spare cash for a great many people.

The gold buying business is booming in the United States and that boom has now made across the Atlantic and into the UK. Advertisements for the sale of scrap gold and jewellery regularly appear on the TV screens as well as in the rest of the media.

People are increasingly selling their scrap gold and jewellery for two main reasons. Firstly, with the current economic climate more of us need to raise extra cash and can no longer afford to have unused gold or jewellery just stuck in a drawer gathering dust.

The sale of scrap gold has also become increasingly popular as the price of gold continues to rise. This will mean people will receive a good price for their old gold. Unfortunately, because the market is so vibrant at the moment, there are a lot of companies jumping on the gold buying bandwagon and some sellers have been less than pleased with the payment they have received.

Many of the complaints against companies not paying a fair price to sellers have been made in the USA, but British sellers must not become so complacent as to think it could not happen over here. British people seeking to sell their scrap goal and jewellery should therefore take some safeguards.

The first is pretty obvious. Deal only with reputable companies who are already established. This is particularly relevant if you are using a postal service whereby you send the company your gold and they send a cheque in return. There are obvious concerns with this method but the reputable companies will have a gold calculator on their websites so you will know in advance the figure you are likely to receive and, more importantly, the best gold buying companies will offer a price guarantee.

Like any thing shopping around and comparing services is the best way to ensure you receive the best possible amount for your gold or jewellery with the least amount of hassle. This is best done on the internet rather than via the local press ads.

Just put the terms “gold buying shops” or “gold buying centers” into your search engine and that will give you the names of the best people to do business with. Always check to see if they a have gold price calculator on their website and do not forget to check their terms and conditions of service.