How to Decide Whether to Sell Gold (UK 2025)

We have prepared this guide to explain decision factors and trade-offs. It is general information about our gold-buying service and isn’t investment advice.

1) Identify what you own (scrap vs. resale vs. collectible)

Scrap value items: broken pieces of jewellery, items with heavy wear, or unbranded gold where value comes primarily from carat and weight.

Resale value: branded/designer jewellery or investment-grade bullion coins/bars that we will buy with a premium above melt value.

Collectible/numismatic: coins or vintage pieces with rarity, condition and demand premiums. If you suspect rarity, ask for a specialist opinion before scrapping. However, we always recommend obtaining a valuation from a highly rated gold buyer before approaching a niche collector.

Why this matters: The category determines your likely price basis (melt vs premium), the best route to sell (local gold buyer, postal pack, jeweller/auction), and whether a specialist appraisal is worth arranging.

2) Understand how offers are calculated

When selling to a gold dealer, the below variables are used to calculate an offer

1. Gold purity (confirmed by non-destructive testing such as XRF, or by assay if required).
2. Weight (Trading Standards–approved, calibrated scales).
3. Live gold spot reference at the time we test, minus a transparent margin to cover profit, refining, handling and risk.

Testing note: XRF provides fast composition readings, showing each metal contained in an item as a percentage.

Worked example (illustrative)

12.4g solid gold chain marked 18ct (75% purity), this necklace contains 9.3g of fine gold (12.4 × 0.75). Offer references the live gold spot price at assessment, less our small margin. We’ll show you the numbers line-by-line in store. You can also see our pricing displayed on our category pages and homepage.

3) Pick the right route to sell for you

Monitoring the gold price (without predictions)

Monitoring the gold price can allow you to potentially sell when the spot is in a upward trend or at a current 'high'.

1. Use GBP per gram. Most headlines quote £ per troy ounce. Convert this by dividing the troy ounce price by 31.103. This will give you the price per gram, this will allow for better context if you have a smaller amounts to sell.
2. Check reputable sources. The LBMA Gold Price is the industry benchmark set by ICE Benchmark Administration at 10:30 (morning fix) and 15:00 (afternoon fix) London time. You can also track the live moving price via other reputable sources.

4) Tax points to be aware of

1. Personal possessions (“chattels”): gains through sale are generally outside CGT if the disposal proceeds are £6,000 or less per item (or per share of jointly owned items). This would apply to selling personal gold jewellery for example. Above the £6,000 threshold, CGT rules may apply.
2. UK legal-tender bullion coins (e.g., Sovereigns and Britannias) are treated as sterling currency and are exempt from CGT for UK residents; non-UK legal-tender coins and bars are not.

We can’t advise on your tax position. If you’re unsure, please speak to a qualified tax professional.

5) Price-risk vs. life-admin: a simple self-check

Use the below table to score your priorities. Score each 1-5 (low to high), then compare "Sell now" and “Wait/keep” totals. This can provide a structured way to think.

6) Liquidity & market structure (why gold can be easy to liquidate)

Gold is one of the world’s most liquid assets, traded OTC in London, on futures exchanges in the US, and via the Shanghai Gold Exchange. As gold is a traded commodity, finding a buyer should not normally be a challenge. However, choosing the right buyer is crucial.