Many people hold physical gold for different reasons. When it comes to selling, it helps to understand which types are generally easier to trade. Difficulty can occur when it comes to selling your physical gold, and knowing what the easiest and best type of gold to sell can guide you when coming to buy again in the future.
Below, we compare common types of gold by how straightforward they are to sell.
Below, we've ranked the different types of gold, with number 1 being the easiest to sell.
Gold bars also known as gold bullion which is at least 99.5% pure and because of its purity is widely recognised and straightforward to trade when produced by established refiners. Gold bars are normally produced by accredited refiners and mints. This means the gold content of the bar has been accurately and precisely measured and recorded. Gold bars are usually stamped with the mint/refining body and gold purity and are the most trusted type of gold to trade with.
Wholesale ‘Good Delivery’ bars carry marks such as the refiner’s stamp, fineness and serial number under LBMA Good Delivery Rules; retail bars typically show the refiner/brand and fineness.
You can use this information, along with the current price of gold, also called the spot price, to make sure you’re getting the best bang for your buck for your gold.
You must sell gold bars to a specialised bullion bar buyer. Non-specialised buyers or general pawn brokers often offer less money for bullion bars because their business isn’t geared specifically toward bullion. Non-specialist businesses usually don't have the sophisticated equipment to test the bar for authenticity, and will often decline bars over around 5g in weight.
Selling gold bars will provide you with buy-sell spreads that are typically narrower for standard bars than for many jewellery items, but spreads vary by brand, size and market conditions. The 'spread' is the difference between retail price and the price a dealer will buy the bar from you. Once authenticated, bars can usually be resold in their current form with any need for further processing or refining.
Gold coins can be sold in purities similar to bars or lower. For example the 1oz Gold Britannia is minted at a 999.9 fineness (24ct), whereas a gold Sovereign coin or Krugerrand is minted in 22ct gold which is 91.67% pure. Purities can vary with gold coins as coins that we originally intended for circulation and have a face value (£1 for Full Sovereign) needed to be made more resistant to wear. As gold is naturally soft metal other metals are alloyed to make to the coin more hard-wearing.
Gold coins come in a wide variety of weights, sizes, and even wider conditions and grades. Even if your gold coins are in poor condition, they’re still valuable and can return you a good amount of money. Selling gold coins can be just as easy as selling gold bars when sold to the right reputable dealer and are seen as investment grade gold.
Gold coins can be a little trickier to figure out the value of before asking for a valuation from a gold dealer. This is because they don’t always carry clear purity marks, so identifying carat purity and gold content can be more challenging especially on older or ancient coins. This can add a layer of difficulty. The easiest way to try and identify your gold or silver coins, is to find similar coins online. You can search certain characteristics of your coins design through Google and try and locate similar coins online to see what they are selling for. You can be faced with difficulty valuing gold coins yourself, as certain dated coins may fetch a higher premium. If you are not experienced or have a good understanding of the coins that you own you can be misled trying to find accurate values online. This is why we have placed coins below bars and rank them as a harder sell compared to bars.
Using a reputable gold coin dealer is important for selling gold coins as well because reputable dealers can do the same level of business with gold coins as with gold bars because of their similar purity. They’re also more likely to give you a fair price. Because gold coins are trickier for people to know the exact cost of, it’s all too easy for disreputable buyers to take advantage of a lack of knowledge and pay less than your gold is worth. Reputable dealers have some skin and are motivated to make good deals. They also have access to more information and can better value gold coins.
The gold content in jewellery can vary greatly, usually from 9 carat to 22 carat in the UK. Gold jewellery holds sentimental and aesthetic value in addition to its intrinsic worth. Often gold jewellery sourced internationally does not follow the UK hallmarking standards or is missing hallmarks altogether. When looking to sell gold jewellery it can often be a bit trickier to sell compared to gold bullion as the gold can be adorned with gem stones and other non-precious metals. For this reason, jewellery may have to go through more processing steps to extract the pure gold thus potentially reducing the valuation price for a gold dealer.
You’ll need to know the caratage to ensure you get a fair price for your jewellery. A carat is the measurement of pure gold combined with other metals. 24-carat (24ct) gold is pure gold with no additional metals. Anything below that will contain less gold and more non-gold metals. For instance, 18ct gold is 75% pure gold and 25% other metals. The closer to 24ct, the more refined, more valuable, and therefore easier to sell.
Once you know the caratage, you can determine the value with the right formula. We go into depth on calculating caratage in our blog we explain caratage and how quotes are prepared.
It's important to note you are paying a high premium above the gold value in jewellery, as you are paying for labour time, design, branding, and marketing. All these additional elements inflate the price of your gold jewellery at point of retail. When you decide you then want to sell your ring or bracelet for its gold value you will often receive an offer considerably less than the purchase price, especially if the jewellery was bought brand new.
Rolled gold is gold bonded to a base metal through a mechanical process. This creates a beautiful golden finish that looks like solid gold but comes at a fraction of the cost. Rolled gold, is not easy to sell to a gold buyer as it contains very little pure gold, typically between 2%-5% making extraction and refining costly compared to its gold content. Many gold buyers, therefore, do not accept it or offer very low rates. If you have rolled gold jewellery, you may find it easier to sell privately as costume jewellery, rather than for its scrap gold value.
Rolled gold is often marked to indicate how much gold is actually in it. The markings can be percentages, parts per thousand (ppt), or fractions. For example, 1/20 12k RG means that a piece is 1/20th rolled gold by weight, with a 12ct gold layer. The higher the fraction or percentage, the more gold content generally the more valuable.
Because rolled gold requires extensive processing in order to extract the gold content, pricing on Rolled Gold will be determined differntly from dealer to dealer.
For decades, gold has been used in dentistry for fillings, crowns, bridges, inlays, or grills. It's a practical material, but it can also mean you might have a mouth full of money. Selling dental gold can be challenging as it may involve the buyer handling organic or human tissue if the gold is still attached to the removed tooth. Many gold buyers are not setup to handle this type of gold hygienically and effectively.
It’s important to know that dental gold is a gold alloy, not pure gold. The percentage of pure gold in your dental gold will determine its worth. If you're unsure about the amount of pure gold, you can bring it to a certified valuer or gold dealer to be tested. Generally you can expect to see dental gold in the 12ct-18ct purity range.
Not all gold coloured dental material is actual gold. Dentists have been known to use imitation gold looking alloys for crowns and inlays
+Selling Dental gold requires you to choose the correct gold buyer who can handle this type of material. Extraction techniques can be expensive for cash for gold companies, making them unwilling to take the gold or just offer you a very low valuation. It’s best to go to a gold exchange who explicitly states that they handle dental gold.
At Cheshire Gold Xchange, we buy gold professionally. We pride ourselves on giving our best price for various easy-to-sell gold pieces. We offer transparent, competitive quote for your gold, allowing you to sell quickly and easily. Get an estimated quote over the phone at 01925 387 107, or have a face-to-face valuation at Cheshire Gold Xchange.
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