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
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Gold Company
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Amount which was offered initially
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Was the offer increased when we rejected their initial offer?
|
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GotGoldGetCash
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£49.50 and then £54.45
|
No - though the amount was increased automatically as a result of gold prices rising
overnight.
|
|
PostGoldForCash
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£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.
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