Elevated Prices Persuade Families to Sell Gold Heirlooms

Gold has been prized for centuries, adorning the tombs of Egyptian pharaohs and being passed down through families as tokens of good fortune.

The price of gold has remained so high in recent months that families who hold large quantities of the precious metal have made the bold move to sell gold items, often including family heirlooms.

Holding large quantities of gold has proven risky for some, as police warned earlier in the summer that members of the South Asian community were particularly vulnerable to burglaries of gold, as they often increased holdings of the precious metal while preparing for the wedding season.

A BBC investigation in March 2019 found that as much as £140 million worth of gold jewellery had been stolen from families of South Asian descent since 2013, with the Metropolitan Police reportedly recording 3,300 thefts for the same demographic group between 2017-18 alone.

Popular metal for heirlooms

The spike in the gold price in recent months has been viewed as a likely trigger to the increasing number of gold thefts from households possessing large quantities of gold. The yellow metal is popular, particularly among South Asian families, as part of marital traditions going back generations.

Check out our Live Gold Prices chart, to keep track of the latest price moves.

High prices have also made the perfect opportunity for anyone with a bit of scrap gold lying around to make a significant amount of cash easily. UK Scrap Gold accepts a wide range of scrap gold items, whether that’s broken or unwanted gold jewellery.

You might not even realise just how much of a literal goldmine you could be sitting on, with pieces of scrap gold in your home, gathering dust.

What about purity?

It’s possible you might have discovered something golden and perhaps you now wish to sell scrap gold, but you’re unsure whether it’s pure enough. Don’t worry – UK Scrap gold will be happy to help, even if the item isn’t 24-carat gold precisely. Scrap gold items come in a wide range of purities, and some items might include different pieces of gold, of varying purities.

Here at UK Scrap Gold, upon receipt of your scrap gold item, we can simply separate the respective pieces, and give you an easy cash valuation for each individual piece.

If you wish to take advantage of gold being close to record prices, and plan to sell scrap gold to specialists, why not consider selling it to us at UK Scrap Gold? If you want to get a good valuation before selling, do your own valuation at home, using our scrap gold calculator on our homepage.

All you need to know is a rough approximation of the item’s carat or purity, as well as its weight in grams.

UK Scrap Gold has a main office in Wolverhampton, so if you wish to visit us about any scrap gold queries, make sure to drop us a message, to book an appointment. Better still, feel free to call us using the number below. We look forward to helping with your enquiry.