When it comes to selling gold, bad advice abounds. Friends, forums, and old assumptions can all cause more strain than relief. This post dispels the most popular fictions, and explains how we at London Gold Centre employ only the truths that actually count.
Myth 1: “Because My Jewellery is Old or So Beautiful, It Must Be Worth More”
This is the most prevalent mistake made by sellers.
There is no “collectable” or “numismatic” premium for gold due it’s age, design, or sentiment. Most of the time, jewellery gets priced for its gold value. Unless a jewellery has resale or antique value, it’s treated as scrap.
At London Gold Centre, we look into the weight and purity of jewellery initially. It keeps pricing realistic and reasonable.
Myth 2: “All Gold Gets Paid the Same Rate”
This simply isn’t true.
Gold value changes with purity. 10 grams of 18ct gold chain is worth many times more than 10 grams of 9ct gold. Same weight. Very different value.
Obviously, purity impacts the end cost. That’s why professional testing matters. London Gold Centre checks items, it does not guess or assume.
Myth 3: “The Gold Price of Yesterday is Already Fine”
Gold prices move constantly. Even small shifts affect pay outs.
Some of the buyers use a daily average or delay prices. That lowers offers. We are not going to pay any amount in excess of what the market values it at that moment.
We pay using the latest GBP spot rates and not those found in the past. That way sellers are paid based on today’s market, not yesterdays.
Myth 4: “All that Matters is the Item Weight”
Weight is nothing without purity.
First of all, total item weight is deceptive. Stones, closures, and non-gold pieces must be eliminated. Only the amount of pure gold should be calculated into the price.
At London Gold Centre we weigh openly on trade scales so sellers can be sure they know exactly what is being weighed.
The Myth 5: “Coins and Jewellery are Appraised in the Same Manner”
They aren’t.
Gold coins are simple to resell and readily accepted. They often receive better rates. Except for a couple of proven resalable pieces jewellery, all has been priced out as scrap.
A lot of sellers are losing money by throwing everything in together. London Gold Centre separates coins from scrap, so that each item is valued correctly.
Myth 6: The Offer from the Dealer is the Best That Can Be Had
There is no such thing as a no-questions-asked job offer.
There is one simple formula for a true valuation.
Pure gold = weight × purity × live gold price
If a buyer is unable to display this, they are asking you to take their word for it. That’s unnecessary.
What’s Really True When Selling Gold in London?
The facts that matter here are these:
- Purity drives value
- Live prices protect sellers
- Transparency prevents underpayment
- Clear maths builds trust
These are the principles upon which London Gold Centre is run.
Final Word
You don’t have to make it up, or browbeat people, or make a mystery of selling gold. It needs facts. London Gold Centre continues to prove that when more sellers understand the pricing process, and look for dealers that are clear in their actions, they stop guessing and start selling.