Blog Posts

Experts Predict Recession – Is Scrap Gold the Answer? 

So far in 2022 a recession has been sidestepped. But can Brits breathe easy? Or will the cost-of-living crisis continue to escalate ending in a recession for the UK economy? These are the questions we will seek to answer in this article as experts warn a recession is not off the table yet. 

A potential recession could prompt many Brits to consider how they can manage to afford their household expenses in the coming year. If you have unwanted gold at home the solution could be closer to hand than you might think. We buy a range of precious metals at some of the best prices online, so why not take the option to sell scrap gold today? 

What does the data say? 

ONS data reveals that a recession was narrowly avoided, as the UK economy grew 0.5% in May. Far from being time to rejoice, the warning signs that inflation could increase, and the cost of living will escalate are stark. If a recession does occur, Brits will undoubtedly feel the squeeze. Inflation is already at a 40-year high, and many have struggled to pay their household bills due to the hike in energy prices following the war in Ukraine. 

Although, the Bank of England is not predicting a recession this year, they caution that a significant downturn is expected between October and December with a contraction of almost 1% forecasted. 

Yet, 68% of economists said they believe there will be a recession in 2023 when asked in a Financial Times survey. As many as 38% said a recession would come in the first quarter of 2023, while 30% forecasted recession in the third or fourth quarter of the year. For a recession to be confirmed, GDP must decline for two successive quarters, meaning a recession could be called as soon as the end of 2022, if the economy continues to decline. 

Will households cut spending and look to save? 

The Bank Rate, the interest rate set by the Bank of England, increased in June 2022 from 1% to 1.25%. This comes at a time when the institution is uncomfortable with the high cost of living and level of inflation. In effect, the UK’s national bank is attempting to control inflation by curbing spending and encouraging saving. 

Household bills, however, are currently at an all-time high and look set to rise again in October. So, despite the inclination to save and take advantage of higher interest rates, Brits may need to channel their current levels of disposable income into paying higher bills in future. 

Scrap gold can be one solution to support paying household bills during the cost-of-living crisis and predicted recession. UK Scrap Gold offers some of the best prices for scrap gold online, as you can see in the table of 9 carat prices below. 

July 25th 9 carat gold prices:

UK Scrap Gold  £16.46 
Chards £13.94 
Top Dog Scrap Gold £14.40 

Gold prices are currently healthy. At the time of writing, 25th July, gold prices are at £45.80 per gram, up from £43.20 per gram in January. It’s worth noting that the gold price tends to rise in times of economic crisis. If you have ten grams of 9 carat gold to sell today, you stand to earn £164.60! 

Sell scrap gold today to beat the squeeze 

You can find our scrap gold calculator on our homepage; with just a few clicks of this handy tool we’ll calculate the value of your gold. All you need to know is the weight and purity of your precious metal. 

We accept a range of precious metals including, jewellery, coins, gold bullion, watches and dental gold.  

Once you’ve determined the estimated value of your gold you can sell your scrap gold in three simple steps. Should you have any questions about selling your gold or if you would like to book a face-to- face appointment at our head office in Wolverhampton, please don’t hesitate to contact us

Sell Scrap Metals for a Golden Summer Holiday 

“We’re all going on a summer holiday”. If these words from the classic song strike a chord with you, but you’re struggling to afford your typical summer holiday this year, you won’t be the only Brit in this unenviable situation.  

The cost-of-living crisis is squeezing the typical household budget as prices rise and savings are squeezed. There is a solution in the form of scrap gold. Did you know you can sell scrap gold for a profit? 

In this article, we will explain how you can release some quick cash and book that all-inclusive holiday for you and the family.  

Do you have scrap gold at home? 

If you or a family member has unwanted gold at home, we accept your scrap gold in return for a fair price. Gold is always in demand due to its finite nature and its appeal as a hedge against inflation for investors. 

We accept a variety of gold and other precious metals in different forms: 

Jewellery – necklaces, rings, brooches, pins, bracelets, wedding rings 
Damaged gold – broken chains, jewellery with missing stones 
Other forms of gold – dental gold, medals, statues, lockets 
Other precious metals – silver, palladium, platinum 

Whether you think you have any of these items at home or not, you might be surprised to discover that you have inherited gold from a family wedding, or have a broken necklace you no longer wear. So, don’t let your unwanted scrap gold gather dust in your jewellery drawer or attic when you can sell scrap gold with UK Scrap Gold and get paid in as little as two hours.

How much can I get for my scrap gold? 

Investors know that gold prices have spent the best part of the last decade rising steadily. The latest prices per gram are displayed on our homepage. Today (June 15th) 24 carat gold is priced at £45 per gram. If you had 10g of 24 carat gold to sell you would make £450. 

We offer some of the best prices for scrap gold online.  

Online sellers: gold price comparison 

UK Scrap Gold – £17.29 
Top Dog Scrap Gold – £14.54 
Chards – £14.40 
Best Price for Gold – £14.40 
This table shows the price per gram offered by top online sellers on June 15th.  

Sell your scrap gold in three steps

We aim to simplify the process of selling scrap gold as much as possible, allowing you to release cash from your sale in as little as two hours.  

To begin the process of selling your gold, calculate the value of your items using our scrap gold calculator, you can do this on our sell your gold page. Simply enter the weight of your items and their purity to get started. 

Step 2 is to send your precious metals to us by post. Please enclose the description form from our website. We always advise our customers to choose Royal Mail Insured Special Delivery for peace of mind. 

The final step is to receive your payment by FPS bank transfer – you could receive your cash within 2 hours. 

Are you ready to sell your gold?

If you are ready to sell your gold, please follow the steps laid out above. If you would like us to value your gold for you and send you our best price, please contact us and we’ll send you a quote. 

If you would like to meet us in our head office in Wolverhampton, we’d be happy to oblige, so please send us a message and choose a suitable time. 

Sell Your Scrap Gold as Prices Rise with Inflation 

Remember that old saying “Saving for a rainy day”? Well for many across the country that rainy day may have come as inflation continues to rise like a proverbial hot air balloon. Rather than saving your money in a bank account and watching your interest grow, you could be watching your savings increase by selling unwanted gold. 

The much in-demand yellow metal is always attractive to investors, particularly during times of economic crisis because gold is seen as an effective hedge against inflation. 

In this article, we’ll explore whether today is that rainy day and outline how you can sell scrap gold in just three simple steps. 

Sell your scrap gold in the wake of inflation 

The price of gold has risen 9% in 2022. Beginning the year on January 5th at £43 per gram, today (May 26th), gold is priced at £47 per gram. This goes to show that the price of gold can rise quickly in a seemingly short time frame. 

This means it can pay to time your sale just right. By checking our gold price charts regularly, which are updated every day, you can follow the ups and downs of the gold price and time your sale when the price is high.  

Looking at the gold price at the time of writing, if you have 5 grams of 24 carat gold to sell you could net £235. Compare that to if you had sold at the beginning of the year, you would have made £4 pound less per gram, making £215 in total for the same amount of gold.  

Sell scrap gold today 

It is easy to sell your unwanted gold or other precious metals. From family heirlooms to dental gold, we accept a range of precious metals including gold, silver, platinum and palladium.  

For a clearer picture of what we buy read our FAQs

There are many reasons to choose Scrap Gold UK as your gold buyer, one being that we offer some of the best prices available online.  

Gold prices 
Scrap Gold UK – £16.81 
Top Dog Scrap Gold – £14.40 
Chards – £14.22 
Best Price for Gold – £14.40 

Sell scrap gold in 3 simple steps 

Step 1: Value your precious metals 

You can value your precious metals using our scrap gold calculator, we also have silver, platinum and palladium calculators. You will require the weight and purity of your items to hand. To gauge the weight of your items you can weigh them with a set of household scales. Determine the purity of your gold by checking its hallmark, if you cannot find a hallmark we can still value your items for you. 

Step 2: Post your items 

Simply fill in the details of your items on our seller’s form. Enclose the form with your items in your package and be sure to post using Royal Mail Insured Special Delivery to ensure it arrives at our offices safely. If you do not wish to post your items, you can arrange an appointment with us at our head offices in Wolverhampton. 

Step 3: Receive your payment 

We can transfer your payment on the same day that we receive your items by: 

  • FPS – receive within 2 hours 

If you have any questions, please do not hesitate to contact us, and we’ll be delighted to assist you. 

Sellers Beware: Find Yourself a Trustworthy Gold Buyer! 

Gold prices are on the rise  

The price of gold tends to increase during periods of political turmoil and global uncertainty. Far from calming down, 2022 has had more than its fair share of these – and we’re only in April!  

The Russia – Ukraine conflict has fuelled economic volatility, on top of the ongoing challenges of Covid and, of course, rising levels of inflation. True to historical form, the price of gold has risen. You can take advantage of the increased gold prices by selling your scrap gold today. 

Why it may be time to turn your gold into cash 

It’s possible that you are holding onto a gold item that you no longer value as you once did. If you’ve got a gold ring or an item of jewellery that you are happy to part with to make some quick cash, it may be a good time to think of selling.  

The other side of the coin: sellers beware  

As the conventional saying goes, buyers beware. This phrase refers to the idea that buyers should be wary of the seller as they have less information than the seller about the goods or services they are purchasing.  

With gold, this is not always the case. It is the sellers who should beware as the buyer of gold often holds more information than you. Purity is the big issue here; a reputable buyer should be able to test the purity of the gold and offer you an honest price based on their findings. You need to trust that what they tell you is the truth and that they have offered you a fair price for the quality of your gold.  

We want you to be a savvy seller 

The gold buying market is not full of dishonest individuals and operators. We just want you to be aware of the possible risks when selling your gold.  

The likelihood of getting an unfair price for your gold is higher when the precious metal is doing well. That’s why we’ve put together a few of the strategies a gold buyer could employ to fool you so you can be on the lookout. 

The red flags to look out for   

A dishonest buyer will use sneaky tactics when buying your gold. Firstly, they may list the spot price of gold rather than the price they are willing to pay. They may also label the price in ounces to confuse you. As you are selling scrap gold, you will most likely have grams of the precious metal – not ounces. 

Be very suspicious of a gold buyer that does not publish their rates before receiving your items. “Best price guaranteed” is not the same as a genuine guide price! 

Most buyers will not give you a value anywhere near the spot price. However, UK Scrap Gold pays 95% of the gold spot price to the seller. To be clear, the spot price refers to current value of gold on the investment markets. 

Moreover, UK Scrap Gold is the only company in the UK that offers a fixed price based on “Live Spot Rates”. 

A great way to release cash  

Selling your unwanted gold can be a quick and efficient way of liquidating cash. At UK Scrap Gold, you’ll always get the price you deserve, whether your gold is hallmarked or not. The reason for this is that we always check the purity of your precious metal; the price we pay you is determined by its true purity.  

Sell your unwanted gold today  

Our process is very simple. To estimate the value of your gold, use our gold calculator. Enter the weight and carat of your gold, and we will estimate its value. For example, 2 grams of 14 carat gold would get you £52.98 today (5th April). 

If you feel it’s time to say goodbye to your gold, please fill in our seller’s form. Just give us your contact details and some information about the item you would like to sell. We would be happy to help with any of your queries regarding gold. Feel free to get in touch with our team today on 01902 623 254.  

Scrap Gold and the Conflict in Ukraine  

As the politically ostracized Russian President Vladimir Putin continues to wreak havoc in Ukraine, rising inflation and global uncertainty mean that now may be a good time to sell your scrap gold

Political turmoil supports a sellers’ market 

The war in Ukraine is by no means calming down. The statistics are a sobering reflection of this. According to the UN, there are over 2 million refugees, a testament to the extreme human suffering in Ukraine. And with this suffering and turmoil comes great global uncertainty, adding to fears of mounting inflation and pushing up the value of the safe-haven metal, gold. 

In times like these, individuals tend to move away from investments in stocks and bonds. And towards tangible possibilities such as gold. Last month, the gold price rose by 8 per cent. And with the conflict in Ukraine set to deepen, gold is likely to continue to rise. Russian President Vladimir Putin is being investigated for war crimes. Germany’s federal prosecutor is laying down the path for such accusations. On March 10th, gold was trading at around £1,517 per troy ounce.  

Why now may be a good time to sell your scrap gold 

Individuals looking to sell gold are in a good position in times of uncertainty and political turmoil. If you need to liquidate some cash and you own scrap gold that you don’t mind exchanging, this could be the opportune time. Gold jewellery, coins, trinkets, even dental gold fillings – you name it. We can convert your gold into cash so that you can buy something you plan to keep.   

Gold isn’t the only commodity affected by the situation in Ukraine. European gas prices have increased by 33 per cent in response to Russia threatening to shut off supplies following sanctions imposed by Europe on Russia. The incident at a nuclear power facility in Zaporizhzhia, southeastern Ukraine, has also driven uncertainty levels up. And therefore, gold prices too. With an air of anxiety surrounding a future nuclear disaster, and after the attack on Europe’s biggest nuclear plant, gold prices reached a six-day high at above £1,485. 

How to use our gold price calculator 

To find out how much your gold is worth, why not try out our easy-to-use gold calculator. All you need to do is enter the weight and carat of your precious belongings. And we will tell you how much you can make from selling your unwanted treasures. We’re an online business. This means that, on the whole, we can offer a more competitive price than you’ll find on the high street.  

Ready to Sell? 

At UK Scrap Gold, we have an expert customer service team who are always on hand to assist with any queries. If you’re in ownership of gold objects that you wouldn’t mind parting with and would like to liquidate some cash, please fill in our seller’s form, it’s easy to do. Simply provide your personal details, contact details and more information about the item you intend to sell. 

If you have any questions or would like to book a consultation, get in touch with our team today on 01902 623 254.  

Reasons to Sell or Swap your Family Gold in 2022

In many families of Asian descent, gold items (dubbed ‘Asian gold’ by the media) are traditionally passed down from generation to generation, often during the autumnal months when demand for gold surges. Such communities are often targeted by organised crime groups wishing to steal their gold, but by finding the right seller, you can find ways to protect your wealth in 2022.

A golden lineage

As you might know, rising gold prices have made possessing gold a lucrative opportunity when it comes to selling scrap gold. However, a boom in prices has come at another price: thefts of Asian gold by organised crime groups have robbed families of more than £140 million worth of gold in total since 2013. Such jewellery is typically bestowed as a wedding present among British Asian families, with some items having tremendous sentimental value after being kept in the family for decades. 

However, such gold is often produced without hallmarks, making it trickier to trace a source and prove the item’s purity without bringing in the specialists. UK Scrap Gold are such specialists, and if you wish to sell your gold to us, we have the technology to help verify its purity. Using an X-RF machine, we subject the item to X-rays during a process called gold assaying, during which the rays cause gold items to emit light. Such fluorescence corresponds to specific energy levels related to the item’s atomic structure. 

This means we can spot how much of the item is actual gold, and whether alloys or other metals have been mixed in. Getting in touch with UK Scrap Gold to check the purity of your gold can be especially useful, as many examples of Asian gold not only lack hallmarks, but are often produced by artisans in more rural parts of the Indian subcontinent, where gold items are sometimes less pure than those found further afield in East Asia. 

Swapping gold for gold

It can be understandably tricky considering selling golden family heirlooms with great sentimental value. What would be even worse, however, is losing such heirlooms as a result of theft. Such items are highly ornate and easily recognisable by those who know what they’re looking for. An alternative which might make good on maintaining the tradition of keeping gold in the family, but in a more discreet way, could mean selling such items in exchange for bullion bars instead. 

Such a sale and exchange has multiple benefits: bullion bars are smaller, easier to distribute among family members and can be more easily concealed when necessary, have an easily identifiable high purity and also have the necessary serial numbers to  track their point of origin.  

If you’re wishing to sell gold or considering transferring your family gold to bullion, get in touch with UK Scrap Gold today. 

Scrap Gold Offers Festive Treat This Year

Almost two years since we first heard about COVID-19, we approach Christmas with high prices eating into our incomes and the threat of a new variant in the headlines. These may give us little reason for festive cheer, but gold prices have remained high, and this could mean it’s worth considering selling gold today. 

A Golden Christmas 

Times have been tough for millions of us, and it can be hard to feel like there are many reasons for cheer. High inflation makes our money worth that bit less than before, and the arrival of the Omicron variant of COVID-19 could mean our freedoms are curtailed for more weeks and months to come. Gold, however, could offer some light in the darkness this Christmas. Prices have stayed stable in the last year or so, close to all-time highs set in the summer of 2020. 

Since we first learnt about the existence of COVID-19 in 2019, gold has gained 20 per cent in value. Going back to 2015, the price of gold has effectively doubled, meaning anyone who came into the possession of even a bit of gold has seen the value of their items appreciate considerably. UK Scrap Gold has seen this in the gold markets over the past few years and offers a fair slice of the action so you can benefit nicely from selling with us. 

As we facilitate sales digitally, we have lower overheads than some gold buyers, meaning the gold you sell to us will be more likely to reflect the true value of the item, as compared with market gold prices. To give you a near-instant reading of just how competitive our prices our, check out our Gold Scrap Calculator. Just one gram of 9-carat gold could make £15.57 if you sell today. 

A Merrier Christmas than Most 

Gold holds great intrinsic value, all thanks to its lack of corrosion over centuries and that distinctive yellow-y shine. You may happen to hold gold in the form of a ring, other forms of jewellery, or even collector’s items such as gold coins or forms of investment such as bullion bars. Just because an item isn’t pure gold doesn’t mean it is of no value: UK Scrap Gold has previously facilitated sales of items made from rose or white gold (gold alloys), which still hold considerable value on the gold markets. 

Now you know what just a gram of 9-carat gold can attract, imagine what an even larger item of greater purity could be worth. At a time when money is tight but you’re looking for a chance to celebrate, gold could be the ticket to a merry Christmas for you this year. 

It all begins with filling out our Seller Form, so we can help learn more about the item you wish to sell. Make sure to send one off to us by the third week of December, to ensure your sale can be processed by the festive holidays, or you may have to wait until the new year for us to facilitate a sale for you. If you have any queries about selling gold this Christmas, don’t hesitate to get in touch with UK Scrap Gold today. 

Christmas 2021 Operating Hours

Our website will remain available throughout the festive period but our offices will close from 3.30pm on Thursday 23rd December 2021 until 10am on Tuesday 4th January 2022.

Due to ongoing disruption to the postal service in some areas, your last day for despatching Royal Mail insured Special Delivery parcels for delivery to us before Saturday 18th December.

Parcels that we do not receive by 1pm on the 23rd December will be processed after our return to work on 4th January and may be held in Royal Mail storage until that date.

We will resume normal service on 4th January 2022.

We wish all our customers a Peaceful and Healthy Christmas & A Happy New Year

Recycling Gold to Protect the Environment

With the recent UN Climate Conference, COP26, which was recently hosted in Glasgow, all industries are being challenged to find ways to improve sustainability from top to bottom. The gold markets know a thing or two about that, given that 28 per cent of the world’s gold wasn’t sourced through mining, but produced through good old-fashioned recycling in 2020. 

Something gold, something borrowed 

One of the factors which makes gold so easy to recycle as a precious metal is its longevity. Gold hardly ages over a lengthy period of time, owing to its lack of reactivity with oxygen. Gold’s melting point, at which it becomes molten liquid, is only 1,064 degrees Celsius and when it is in molten form, gold is remarkably easy to change into a variety of shapes. 

What was once a bullion bar can easily become jewellery, coins or some other shape with the right tools to hand. With the typical gold ring estimated to produce 0.8 tonnes of CO2e for each troy ounce of gold, the carbon footprint for bringing even just a new troy ounce of gold has never been higher for the planet. What a coincidence that gold prices happen to be high compared to historical averages. 

For much of human history, gold mining was an arduous task and only so much of it could be found at any one time. Generations of people simply learnt to make do with what little gold was around. In this way, recycling the gold we currently have isn’t some modern fad, but an old tradition which has stood the test of time. 

Recycle your gold today 

Selling your gold with UK Scrap Gold could be just the way to contribute towards this grand effort to cut carbon emissions in the gold markets. If more of those with unwanted gold sell it, especially during a time such as this, when prices are near record highs, the benefits can be numerous. It rebalances supply in a way which could mean less demand for mining. 

Not only does it save toxic chemicals and waste products being released into the environment, which are known side effects of modern gold mining methods. Selling your gold for recycling also allows those specialising in the crafting of gold items to show their skills in melting down and reshaping old gold into something new. 

UK Scrap Gold can process scrap gold items ranging from dental gold to old jewellery and coins. We also consider a number of items with varying degrees of purity. Rose and white gold are just two examples of gold alloy items people might wish to sell. Just because it isn’t pure gold doesn’t mean it holds no value for us. To learn more about the value of recycling gold by selling it, get in touch with us today. 

Copyright: bashta

The World of British Silver Coins

The story of silver coins charts the ups and downs of UK history, from the Middle Ages right the way through to the 1940s, when silver was effectively phased out of actively-used coinage. One thing you might not be aware of is the varying purities of the different types of silver coins in your possession. Depending on when your coin was minted, you could expect to sell your coins and fetch a completely different value. 

A matter of purity 

In the Middle Ages, original English silver coins often carried the highest purity available, known as fine silver. However, the coins suffered from easy wear and tear, prompting the authorities to start minting silver coins with a slightly less than pure content using harder alloys. Copper was often added at 7.5 per cent, with some of the purest silver coins going forward being 92.5 per cent silver for much of English and UK history. 

However, if you happen to find UK-based silver coinage from days gone by, it’s more likely to have been minted closer to the 20th century, which is when the currency underwent a radical overhaul. That’s because any silver coins minted up until 1920 retained that 92.5 per cent purity. As world wars, economic depressions and other factors weighed on the British economy, the content of coinage was debased towards cheaper metals instead. 

As a result, coins minted between 1920 and 1946 saw silver content reduced dramatically to 50 per cent. The remaining half of the coin’s content was often consisting of manganese and traces of other cheaper metals, which often causes old coins to darken in colour over time. Such a move has a significant impact on the valuation you can expect to gain from your coin, and lower silver content has a dramatic impact on its appearance relative to more pure-silver ones. 

Shimmering silver coins 

By 1947, silver coinage had well and truly had its day, being phased out of use almost altogether. While the average silvery coin in your wallet might give the appearance of true silver once more, it’s more likely a trick of the eye: nickel-plated steel is the go-to in more recent times, giving coins the look of silver but with metals that are far more resilient to wear than purer silver. Modern coinage might look like the real thing, but its value is far lower and better use to you as spending money. 

UK Scrap Gold has its very own Scrap Silver Calculator, which allows you to ascertain how much a typical silver coin could potentially be worth. With silver yielding 44p per gram at .925 (92.5 per cent purity), you might need a fair few coins to generate the kind of money you would expect from a smaller haul of a more valuable precious metal like gold. 

The date your silver coin was minted will have a significant impact on its purity, especially if you’re having to determine whether it was pre-1920 or not. UK Scrap Gold are specialists in all things related to precious metals, and we would be happy to help assess your coins to make sure they’re the genuine article. Give us a call today on 01902 623 254.