I think it’s abundantly clear that posting your unwanted gold off to shady sounding companies is a dangerous game – chances are you’ll get paid well below market value for your gold, and you’re better off going to a local jeweller for a valuation than trusting a it to an envelope.
A new website aims to show up just how good or bad these postal gold companies are:
[small amounts of gold have] been weighed on UK Trading Standards Approved and recently calibrated scales. So â€“ I know for an absolute FACT how much has been posted. I have sent gold off to five companies in total now â€“ and my aim is to publish here exactly how much per gram they pay â€“ and more importantly how it goes if you decide you donâ€™t want to part with your gold and ask for it back. Every step will be documented and evidence retained for scrutiny by anyone that cares to look.
Well, we’ve got some useful feedback on the process with Money4Gold right here.
And are the companies faring in this experiment. Not very well, it would seem.
Most high street pawnbrokers are now paying at least Â£6.00 per gram for 9ct gold.Â This is what our favourite TV advertised gold-buying companies are paying:
Money4Gold â€“ Â£1.55 per gram
PostalGold.com â€“ Â£1.48 per gram
Cash 4 Gold â€“ Â£1.90 per gram
Cash My Gold â€“ Â£1.34 per gram
Cash Your Gold Now â€“ Â£4.00 per gram
The lesson is clear, so we won’t bother repeating it. Oh, yeah, we will. Don’t post your gold!
Actually, we’ve found something else you could do with your gold, which is probably more reputable – Cats For Gold!
photo credit: BullionVault
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