What are the important things to know when selling gold?
Are you thinking about selling some of your gold, scrap gold or broken jewellery? Whether you have gold coins, bars, or jewellery that you are looking to convert into cash, it's important to understand the basics of selling gold before you take the plunge. In this post, we'll cover the different types of gold that can be sold, the factors that affect the value of gold, and the different methods for selling gold.
Types of gold that can be sold to Hatton Garden Metals
When it comes to selling gold, there are several different types of gold that you may be able to sell to Hatton Garden Metals. The most common types of gold that are sold include gold coins, gold bars, and gold jewellery. Gold coins are typically made by government mints and can be either bullion coins (which are valued based on their gold content) or numismatic coins (which are valued based on their rarity and condition). Gold bars are typically made by private mints and are also valued based on their gold content. Gold jewellery can include anything from gold rings and necklaces to gold teeth and other items, and is typically valued based on its weight, purity and carat.
Factors that affect the value of gold
The value of gold is determined by a number of different factors, including its purity, weight, and market conditions. Gold is typically measured in carats, with pure gold being 24 carats and gold jewellery typically being between 9 and 18 carats. The weight of gold jewellery is typically measured in grams and investment bars and investment gold coins are measured in troy ounces, with one troy ounce being equal to about 31.1035 grams. The market value of gold (or spot gold price) is determined by supply and demand, and can fluctuate based on a variety of factors including geopolitical events, economic conditions, and other factors.
Methods for selling gold
There are several different methods for selling gold, including online platforms, local dealers, and gold buying events. Online platforms such as eBay and Craigslist can be a convenient way to sell gold, but it's important to carefully research the reputation of the buyer and to use a secure payment method to protect yourself. Local dealers such as coin shops and pawn shops can also be a good option for selling gold, but it's important to shop around and compare offers to ensure that you are getting a fair price. Gold buying events, which are typically held by companies that specialize in buying gold, can also be a good option, but it's important to carefully research the reputation of the company and to get a written offer before agreeing to sell your gold.
Why sell to Hatton Garden Metals
As one of the UK’s largest bullion houses our customers comes from all over the UK, from private sellers to trade shops and manufacturers. Typically, we pay around 20% higher for your gold than your local jeweller. Research into the Company you are selling to is very important, we actively encourage our customers to check out our 1000’s of Trustpilot reviews, and we are very proud of our 5-star rating across other review site. Unlike other Companies, we do not penalise you based on the quantity of gold you are selling, our prices are always the same with no hidden charges.
We hope this blog post has provided a helpful overview of the basics of selling gold. Remember, it's important to carefully research the different options and to consider the factors that can affect the value of your gold before you decide to sell. By understanding the basics of selling gold, you can make an informed decision and maximize the value of your gold.