Best place to sell gold
If you’re looking to sell your gold for cash, these are your options.
Recommended postal gold buyer
Speed of Response
Next day AM (fast)
Insurance
£750
Payment Methods
Cash, Cheque, Faster Payment Services, Bank Transfer
Comments
Our highest rated gold buyer because they offered the best price, a quick service and a trustworthy experience.
We received a nicely designed pack which had one letter to fill in to send back and another showing how payment should be made along with some trustmarks like their Trustpilot score and total customers paid to date. We also received a padded postal bag to put our gold items into and send back along with the letter. The letter was also pre-filled with our details which made sending back our gold quick and easy.
We received an offer from Postgoldforcash.com within a few hours of it arriving at their offices (they were second fastest) for £206.00 and we managed to haggle them up to a final total of £210.
We sold our gold and received a cheque within two days.
Postgoldforcash was recently featured on ITV's This Morning as a quick and simple way to make money.
1. Postal gold buyers
The quickest and most convenient way is to sell your gold to a postal gold buyer. Usually, they will buy gold and silver jewellery in any condition as it’s often melted down. So, if you have dental gold, gold wiring, or broken gold jewellery lying around you could sell for a pretty penny with a postal gold site.
The lack of a physical store will mean they have lower overheads so better prices for you, and once they’ve gone to the effort of receiving your gold, they will try and pay the best price to avoid having to send it back!
The process is also pretty simple:
- Visit a postal gold buying website. We’ve reviewed some of the main buyers in the UK and given you a fair assessment of what it will be like to sell your gold to them
- Request a free gold selling pack. This should arrive in the post a day or two later
- Pop your items into the special delivery envelope. Then head to your local Post Office. The postal gold buyers we reviewed will insure your package for £500 - £750 but you can also pay a little extra if you believe the items inside are worth a lot more (some will reimburse this fee if you choose to sell with them)
- Wait for your offer to come in. Ideally, they should phone you with an offer, which you can accept straight away or haggle to get their best price.
- Receive cash in your account within 48 hours. Payment methods can be via bank transfer, paypal or a cheque / cash can be sent to you in the post.
Speed of Response
Next day AM (fast)
Insurance
£750
Payment Methods
Cash, Cheque, Faster Payment Services, Bank Transfer
Comments
Our highest rated gold buyer because they offered the best price, a quick service and a trustworthy experience.
We received a nicely designed pack which had one letter to fill in to send back and another showing how payment should be made along with some trustmarks like their Trustpilot score and total customers paid to date. We also received a padded postal bag to put our gold items into and send back along with the letter. The letter was also pre-filled with our details which made sending back our gold quick and easy.
We received an offer from Postgoldforcash.com within a few hours of it arriving at their offices (they were second fastest) for £206.00 and we managed to haggle them up to a final total of £210.
We sold our gold and received a cheque within two days.
Postgoldforcash was recently featured on ITV's This Morning as a quick and simple way to make money.
Speed of Response
Next day AM (fast)
Insurance
£750
Payment Methods
Cheque, Bank transfer, Paypal
Comments
Dealing with Gold Monkeys was very straight forward. They have a simple website and we received one simple letter to complete and send back. The selling pack itself was pretty basic and didn't ask how we prefer to be contacted but it was good to see a Whatsapp option (although we didn't use it).
Gold Monkeys were the first to contact us back, responding very early upon receiving the gold and made us a good offer of £186.15 plus a £10 'bonus' for sending the gold back quickly (despite us taking a week to return the gold).
We had two other calls from Gold Monkeys and eventually managed to increase their offer to a final total of £203.56.
We sold our gold and received our cheque within two days.
Speed of Response
Next day PM (slow)
Insurance
£500
Payment Methods
Cheque (£2 charge), Faster Payment Services, Bank Transfer
Comments
This was a horrible pack! We received one basic letter which mentioned nothing about them as a company and didn't talk about what they buy and why we should choose them. The letter and pack sent to us didn't match the website as the name and logo are different - we had to double check who we'd ordered a pack from.
To add to the lack of trust, the email received came from an address which didn't match either and we had to work things back to the original website by checking the phone number. When it comes to earning trust online, this company really didn't inspire us. The original offer was in line with the rest of the market (£179.13) but when asked if they could improve the offer, it was increased by a measly 87p to £180.00.
We sold our gold and received a cheque within two days.
Speed of Response
2 days (slowest)
Insurance
£750
Payment Methods
Bank Transfer
Comments
When you order a gold selling pack, it will come from a company called Gold Converter. Sadly, there is no mention of the website which makes things very confusing indeed! Who am I selling my gold to and can I trust them?
The letter received was very basic and looked like no time has been spent designing it, again making the service feel cheap and unprofessional. On the plus side, a bubble wrap bag was included to help protect the items sent.
We received our first offer a day after they received it (and after other gold buyers we tested) which came in at a disappointing £120.00. We declined this offer and spoke to them again a day later where the offer was upped to £142.00.
We declined their offer and had our gold sent back to us within two days.
Speed of Response
Next day midday (via email)
Insurance
£500
Payment Methods
Cash, Cheque, Bank Transfer
Comments
We received a generic letter with no personalisation which made completing the form that much longer compared to the other gold buyers. After sending off our gold, we weren't called and were only sent an email with a very small offer (only £89.14) which was significantly lower than all of the other gold buyers we contacted, almost 50% less!
They did then up their offer significantly on second contact to £127.34 (nearly 50% increase on their first one!) however, this was still a long way short of the others.
We decided to have our gold returned due to the low price offered and it arrived within 2 days of our request.
2. High street jewellers
If you have an item of more sentimental value or it’s an antique, you might prefer to traipse down to your local high street to get it valued. A local jeweller should examine the piece on its entirety rather than judging primarily on the gold value. However, if you have old/unfashionable/broken gold it will be less appealing to them, and you may receive a lower price.
Since the jeweller will likely plan to resell your item they may also under-value it so that they can get a better margin later. For this reason, it’s worth shopping around as many jewellers as possible to gauge what the average value is. So, it’s potentially a little more time-consuming process.
If you have Tiffany, Swarovski or Cartier jewellery to sell, you’re best off visiting a jeweller as they will want to re-sell it. Sadly, postal gold companies will not value the brand mark and surprisingly the precious metal value of branded jewellery is less than you may have paid in the first place.
3. Pawnshops
If you’re in need of a loan rather than to sell the item outright, pawnshops could be a viable option. However, remember pawnshops will always under value the gold price and you are likely to get far less this way.
When buying back your jewellery, you’ll have to pay more to get your gold items back, and you’ll also have to pay accumulated interest.
They should probably be seen as a last resort when you need to make some quick cash.
If you have gold bullion bars and coins to sell, you'll need to get in touch with a gold trader. Companies like bullionbypost.com and royalmint.com.