Cash for gold scams.

This subject makes me laugh. People bleating on about the prices of gold and how they were duped into selling it for lower than its worth... Well unfortunately ladies and gents, THATS BUSINESS! There is no business in the world that is going to buy something for its exact worth. Maybe antiques dealers, but even then they are going to ask for the best price.

Yes, selling gold for cash is probably going to leave you with less cash than your gold is worth but this is no different to any other business policy. Let’s take a UK supermarket. They sell a 500ml bottle of pop for £0.80 but have only bought it for £0.10p / £0.12p (BIG PROFIT!). What about a DVD/Music high street giant selling a DVD for £14.99 but the supermarket is selling it for £7.99 (BIG CONTRAST!)? A furniture store will produce a sofa for about £100 and then sell it to us for about £1200. The furniture store then try to make us feel grateful that they have slashed the price in their “SALE” from £1200 to £800 (THAT’S STILL A £700 PROFIT).

The point is, don’t get your knickers in a twist about profit margin and what you should be entitled to. No business on earth is going to give you the worth of your gold jewellery. The only thing you can do is shop about for the best deal.

Finally... their is no SCAM, just people in business who want to make more money from you than they should. If people are prepared to carry on using them... they will continue to do business. Thats not their fault but yours for not shopping about. DO YOUR RESEARCH!

More cash for a higher grade carat.

There is no gold which is 100% pure. The closest for common jewellery is 99.90% or 999 fineness. Obviously the higher percentage of gold the more money your gold jewellery is going to be worth.

Carat	Fineness	Percentage of pure gold
9k	375	37.50%
14k	583	58.33%
18k	750	75.00%
22k	917	91.66%
24k	999	99.90%

More...

How can I tell if my jewellery is real?

High grade gold, silver and platinum do not contain enough metal in their alloy for them to stick to a magnet. Before sending your jewellery to a gold to cash converter, simply run a fridge (or any other) magnet across the item. If the jewellery sticks then it’s probably not real gold and should not be sent.

Some jewellery will contain a hallmark. Even though this is an official stamp, it can be forged. Quickly run the magnet check as explained above before sending any jewellery or gold items away for gold to cash conversion.