When you're choosing to sell your gold finding a reputable buyer you can trust to give you the best service can feel daunting. This is due to the fact that choosing who you sell gold to is probably the most crucial part of your transaction. However, with some simple guidance and the know-how of what to look for, and what to avoid we can make choosing a gold buyer a super simple process.
If you are not 100% confident navigating the internet and online gold buyers, then we would always recommend you opt for choosing someone local with a physical location.
The cash for gold sector has expanded rapidly with the increasing gold price, with hundreds of online only businesses appearing over the last 5 years. One of the easiest ways to protect yourself against choosing wrongly online is to stay local.
Ask for local recommendations, contact local jewellers and gold buyers and obtain multiple quotes. You may find keener quotes in city centres, large towns, or areas of higher population where there may be more competition. Read online reviews, and check local directories like Yell. You can also check the National Association of Jewellers website for registered businesses located near you.
As with any high value transaction, selling gold can attract the wrong type of people. Refuse any jewellery buyers employing pressure tactics in order for you to complete the sale.
The thing to remember about pressurising tactics from buyers is that they do not have all the power in the interaction. That lies completely with you as the seller with the gold they want so you can dictate the outcome. This is partly the reason they may use high-pressure tactics to try to take some control away from you. So remember that you dictate the procedure, hold power and refuse to engage in an intense sales interaction or negotiation.
If you start to sense the gold buyer is pressuring you to do something faster than you're comfortable with, for a much lower price or in a method you're uncomfortable with, end the interaction and walk away.
If you choose a reputable gold dealer to sell to, you should not experience these issues. However if you find yourself in this situation, you should see this behaviour as a red flag and exit the transaction.
Gold dealers work on a small profit margin from the spot price. Most buyers reference a live market price when assessing purity and weight. Check a reputable gold price source on the day you visit so you’re grounded in today’s market level. But be mindful that you are still selling to a business so there needs to be some room for a profit on their side. The gold spot price fluctuates worldwide daily so it's important to check it on the day you choose to sell your gold.
One of the easiest ways to not get a fair price for your gold is by choosing a gold buyer who is not transparent with their pricing. You should ask what they are paying per gram before visiting and avoid anyone who is not clear and honest on this aspect. Many gold buyers, particularly online buyers will have gold calculators on their website allowing you to get a quick price estimate based on weight and purity. If you visit a physical store, ask for a written quote that shows weight, carat and the price reference used.
You would expect most reputable gold dealers and gold shops to have a website and most are available to see on reviewing sites like TrustPilot and Google. Searching through their reviews for the opinions of past customers will help give you insight into how a gold buyer treats customers and what the impression was afterwards. Bear in mind you should take these testimonials with a grain of salt because the whole story isn’t always posted. Weigh the good against the bad and trust your gut.
While we have focussed on helping you find the right gold buyer, it's equally important to know how to spot potential problem buyers. These individuals typically exhibit certain warning signs. Being aware of these red flags can help you steer clear of trouble.
If you've ever noticed an ad on Facebook, bulletin boards or in the paper advertising that a gold buyer is in town for a limited time, you might have seen the red flag of a problem buyer. These buyers often work out of hotel rooms, local meeting halls or other temporary locations. When they inject a sense of urgency, telling customers they only have a short amount of time to jump on the opportunity and they'll pay cash immediately for gold, this is the alarm bell that says they may be a problem. We have had many customers sell at extremely low prices to these sorts of buyers, we would always recommend getting quotes from established businesses before selling to these sorts of dealers.
Although they may pay what can seem like a large enough cash amount for gold it’s usually not the fair market value. This is because they’re counting on the fact that locals don’t know the value of their gold. So by highlighting the urgency of their presence they push people to rush past research and make quick gut decisions.
On the other side of this are buyers who are a little more permanent but still have a high turnover. These include places like pawnshops, payday and short-term loan cash advance offices. Spots like these are also in the high turnover business which means they want to maximise their profits by undercutting you on how much they pay for gold. Whatever route you choose, compare at least two quotes from established businesses.
These come with the risk of not knowing who you’re dealing with and can present security risks. They could be anyone who’s trying to buy gold and might even include a criminal element. Who may not be part of an industry body or code—take extra care these buyers.
| Green flags | Red flags |
|---|---|
| Member of a recognised trade body (e.g., National Association of Jewellers); clear address and landline. | Pop-up hotel events with limited dates; no fixed premises. |
| Written quotes itemising carat and weight; clear T&Cs. | Won’t put an offer in writing; vague or changing terms. |
| Uses **trade-approved** (legal-for-trade) scales; shows calibration if asked. | Domestic kitchen scales; refuses to weigh in view. |
| Insured post guidance (e.g., Royal Mail **Special Delivery** compensation options). | Asks you to use untracked post or uninsured couriers. |
| Good recent reviews on independent platforms; responsive customer service. | All 5-star reviews posted in a short period; no replies to complaints. |
Finding a buyer who'll give you fair value for your gold and who you can trust to take care of your needs comes down to asking the correct questions and knowing the worth of your gold. Cheshire Gold Xchange is proud to offer the proud to offer transparent, competitive quotes and offer you one of the best places to sell your gold coins, sell gold jewellery and sell gold bars. Get an estimated quote over the phone at 01925 387 107, or have a face-to-face valuation at Cheshire Gold Xchange, a leading Cheshire gold buyer.
If you live outside of Cheshire you can check the London Gold Exchange - UK Gold Dealer Directory to find a reputable dealer.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
