What Does ‘Cash for Gold’ Mean?
Cash for gold simply means that you can sell your gold in return for cash. There are several ways that you can release the value held in your gold and different options for you. If you’re keen to sell gold, London offers many opportunities. In this ‘Cash for Gold Guide’, you’ll find out how and where to sell gold transforming it into cash.
Selling gold for the first time can feel daunting – but it can easily be broken down into a few steps:
- Find a good place to sell gold
- Get a quote for your gold
- Agree a price with cash paid instantly
Why do People Want Cash for Gold?
Gold is both precious and valuable but most people do own some gold, whether it’s in a pure gold form or as jewellery, like rings or chains. Selling, or pawning, gold is not unusual and there are many reasons why people want to release the value held in their gold, such as:
- Reinvestment in new jewellery
- Need access to the value held or want to realise investment value
- It’s time to move on from the memories held in some gold
What types of gold can you sell?
Typically, gold comes in different forms and all gold can be sold. Gold bars, bullion and coins are most often pure gold while jewellery can be mixed with other metals which may impact purity and/or value. The value of your gold can also depend on the condition and rarity, which is especially true of coins.
There are very few types of gold that don’t have a resale value attached to the them but it can be helpful to understand what type of gold you have before you get your cash for your gold valuation.
Gold jewellery
Gold jewellery can be a luxury brand, like Cartier or Boodles, or it can be generic gold. Pieces that you can sell include rings, necklaces, bracelets and bangles, and earrings. Jewellery can be valued by weight and carat, with some pieces attracting additional value because of luxury brand and provenance.
Scrap gold and broken gold
Cash for gold is a really good way to release the value help in your broken chains or damaged earrings. You can sell scrap gold in London. The valuations will appraise the purity content by carat, weight and the market rate, taking into account any impurities.
Gold coins
While your cash for gold value will be based on the gold carat system when selling your gold coins, your jeweller or pawnbroker will be happy to value many different types of gold coins from around the world, including Krugerrands and American Eagles.
Gold bars and bullion
You can sell gold bars and bullion, with valuations based on the current gold price and purity. Gold bars and bullion are usually 24ct.
Gold watches
Many watches are made of gold, and people are often surprised how much their watches are worth purely on their gold value. For vintage watches or old gold watches that are not a well-known or popular brand, we can do a watch valuation on the value of its gold content.
When can’t you get cash for gold?
If you have gold items that do not have a gold hallmark, it is likely that they are fake gold. It is worth checking to see if your piece is gold with a valuation.
Gold-plated jewellery is not considered to be gold as the value in the piece will be minimal. It is unlikely that you will secure a valuation for gold-plated pieces.
Can you boost your cash for gold valuation?
You can make it easier for the valuer. When preparing to sell your gold, organise it by type and purity, if you can. Gold purity is measured in carats (ct), with most gold jewellery ranging from 9ct to 24ct. UK gold purity measurements are considered to be the gold standard, but can differ from international carat measurements.
The price of gold changes on a daily basis so it will be worth you doing your own research before you get a valuation. You won’t get an exact match with the listed market price but you can get valuations from more than one buying option.
Where to get Cash for Gold in London?
Where is the best place to sell gold in London? If you’re wondering where to sell gold, there are 4 different options where you can sell gold in London
- Specialist Gold Buyers
There are a multitude of gold dealers in London. Gold buyers can value and pay on the same day. This can be a good option if you work in the trade or have a large collection of gold to sell. - Pawn shops & Jewellers
Some of the best gold buyers in London are pawnbrokers and jewellers. These are great as a trusted way to get quick cash for your gold where you can often complete the transaction within 30 minutes. Pawnbrokers will offer cash for gold as an outright purchase but will also offer a gold pawn loan option which will enable you to redeem your gold at the end of your loan period. - Online buyers
You can sell gold online with gold buyers that are accessible nationally and on platforms such as eBay. - Bullion dealers
For bullion bar transactions only.
Which is Right for You?
Selling your gold can feel like an emotional decision, especially if you’re trying to find the right time to maximise your investment or part with a treasured piece. Which is why it is important to look at all of your options.
What are the pros and cons of each?
| Gold buyer | Pros | Cons |
| Pawnbroker/ Jeweller | Quick valuations, with walk-in & online services | Valuations may be slightly lower than selling privately, but the process is quick and simple |
| Gold specialist | Same-day payment options | Focus is on the gold, rather than the brand or resell value |
| Online Gold Buyer | Convenient, kit-based valuations so you can post gold for cash | As an online only buyer, you do not have the option to visit a physical location |
| Bullion dealer | Offer real-time prices for gold bullion and coins | Do not purchase gold jewellery items |
Your 5 Top Tips to Getting the Most Cash for Gold
- Know your gold before valuation – what’s the carat and what’s the weight
- Check the live gold selling price – what’s your gold worth per gram on the day of valuation.
- Get more than one valuation – when it’s gone it’s gone, unless you take a pawnbroking loan. Always get 2 -3 valuations between gold specialists, jewellers and pawnbrokers.
- Watch the weigh-in – If possible, ask to watch the valuation.
- Consider selling your high-end jewellery as jewellery – Protect the value in your branded jewellery as the value may be higher from a brand perspective than with a simple gold valuation.
Summary – How to get the most cash for gold
Getting cash for gold in London is simple when you know what to look for. Start by choosing a trusted, long-established jeweller or pawnbroker who specialises in gold valuation and buying. Reputable buyers will offer transparent pricing based on the current gold market rate and will provide an accurate appraisal of your items. Whether you’re selling unwanted jewellery, coins, or bullion, understanding the process and working with a credible expert ensures you receive a fair and competitive offer.
You can also consider a pawn loan if you’d prefer to retain ownership of your gold. Pawn loans are FCA-regulated and allow you to borrow against the value of your gold, with the option to reclaim it once the loan is repaid.
Before valuation, take time to understand the weight and carat of your gold, and always check the live market rate. Comparing offers from reputable buyers will help you secure the best possible return for your items.
