Selling gold and silver ...... advice please.

[Ann]

I have been sorting out old necklaces, rings and earrings, some broken, gold and silver ones, which I am keen to sell while the prices are at their highest level.... What are the pitfalls? How can a company be trusted and how do you know you are not being ripped off?

What is the current price of gold (mainly 9 carat) and silver 925 please, I have looked on the internet and get all kinds of differing prices.

Has anyone sold through a reputable company? we have a firm coming to a hotel in our town this week, to buy gold and silver, who have a business in Mayfair, London. Not sure what to do ............

[SIRandyraven]

Scrap Metal Date GBP / Unit GBP / oz USD / oz EURO / oz
9ct Gold Scrap Mon 05 Nov 2012 12.289 GM 382.236 610.736 477.623
14ct Gold Scrap Mon 05 Nov 2012 19.171 GM 596.288 952.749 745.091
18ct Gold Scrap Mon 05 Nov 2012 24.579 GM 764.472 1221.472 955.245
22ct Gold Scrap Mon 05 Nov 2012 30.019 GM 933.675 1491.825 1166.673
Platinum Scrap Fri 02 Nov 2012 22.682 GM 705.501 1131.602 880.637
Silver Scrap Mon 05 Nov 2012 512.025 KG 15.926 25.447 19.897

[FredPuli43]

Back page of the Antiques Trade Gazette, full page ad for '375 Live'
in Hatton Garden ("tel [phone] for up to date prices") quoting last Thursday's prices: 9ct £12-78 per gm ; 18ct £25-15 ;22ct £30-98; 14ct £19-88. (those prices against a fix of £1067- 91). Hallmarked silver was £17 per ounce.

[Ann]

I was quite surprised how much mine all weighed on my kitchen scales, hoping to get about £400 I think. Most of the sites I have looked at are on average £12 for 9 carat gold - which most of mine are, but I have quite a lot of 925 silver. I have 2 gemstone (but cheapish) rings which no longer fit. Would I be best to sell them as rings, or for scrap gold please?

[NOX]

You might be abl3e to Ann- it would depend on the item- take them and see- also you will never get ' live' price you'll always get slightly below that as otherwise it's not worth anyone buying it:)

[Ann]

Thanks Nox!