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BBC - The One Show Reports

As Hatton Garden Metals goes from strenth to strengh the BBC One Show reports on the companies that rip off the public pay very poor rates.

The One Show ran an independant test with 5 different scrap gold postal companies and showing the rates that they paid for 10gms of scrap gold. We decided to put the postal gold companies to the test - we bought five piles of scrap jewellery from a independent high street jeweller, each weighed 10 grams, with a scrap melting value of £80 and a saleable value of between £50 and £65.

Hatton Garden Metals would have paid £76.76 for same 10gms with no hidden refining charges or other hidden fees.

See the BBC's results below

Gold Company	Amount which was offered initially	Was the offer increased when we rejected their initial offer?
GotGoldGetCash	£49.50 and then £54.45	No - though the amount was increased automatically as a result of gold prices rising overnight.
PostGoldForCash	£41 by cash or £48 by bank transfer	Yes - the cash offer stayed the same but bank transfer offer was increased to £55 and then again to £60
Cash4Gold	£20.85	No
Money4Gold	£17.49	Yes - the offer increased to £52.46
Postal Gold	£17.30	No

BBC Full Report - Click Here

Things to Consider Before You Sell Your Gold

1) Make sure that you are being paid a fair price for your scrap gold. Always use a website that is displaying the days goldfixes and also the rates you will receive. Many sites offer a price and then in the small print have hidden refining charges or scrappage charges. Make sure the company you choose does not have these hidden fees.

You can get a good indication of the likely to be paid for your scrap gold buy checking out websites that advertise their prices. Most of the well established companies have calculators and scrap gold prices on full view directly on their websites. Also make sure that the company you deal with are fully VAT registered and are registered with Companies House. Any company dealing with this ammount of scrap precious metal MUST be VAT registered.

2) Think about the offers open to you the customer and do the extra offers made to you by the chosen company actually work out best for you.

Websites that run prime time TV adverts, advertise full page spreads in national newspapers and offer over 100% for your scrap gold have to recoup their investment from somewhere, Be aware that it is almost impossible for any scrap gold dealer to buy gold at over the Gold Fix price and is not common practice within the scrap gold industry.

3) Think about how you send your scrap gold, Via Royal Mail Special Delivery, Courier or any other postal carrier

Remember your items are valuable and your probably in need of the cash, So ALWAYS send your gold via an insured service.