Deciding whether to sell gold online or on the high street can be a confusing decision. At Cheshire Gold Xchange we offer both options for selling gold online or at our high street shop located in the county of Cheshire. Whether it’s old jewellery, gold sovereigns, an old tie clip or some scrap gold, choosing where you go to sell should be a decision you consider carefully. As we have experience in both methods, we will detail some of the advantages and potential pitfalls. Here is a breakdown of each option.
1. Face-to-Face Assessment
When selling your gold on the high street, one of the primary benefits is the ability to interact with a gold buyer. You can bring your gold pieces into the shop where an experienced gold dealer or jeweller will be able to assess your items in front of you. At Cheshire Gold Xchange, our valuation process involves weighing your gold, analysing its purity (either by hallmark inspection or XRF scanning), and then we can calculate a price for you based on the current precious metal market rates. This face-to-face interaction allows for immediate feedback and communication.
2. Immediate Offers and Payment
One of the main reasons people opt to sell on the high street over selling online is the scope for immediate payment, without having to wait for delivery and processing times online. At Cheshire Gold Xchange, once we have agreed on a price we can pay you by immediate bank transfer or cash payment. This is a great option for those in need of quick cash, rather than having to wait for online processing times.
3. Personalised Service and Negotiation
In a store setting, you have the opportunity to ask as many questions as you like. You can discuss pricing and negotiate with immediate feedback. When you are a seller in a physical store, you may feel like you are more in the driving seat as you have the potential to leave the shop and visit a competitor if the price is not suitable. We always enjoy interacting with our jewellery sellers, and love hearing stories of how people are going to spend the proceeds of their sale.
4. Sense of Security
Selling your precious metals in a high street location can feel like a more secure process. You are able to hand your valuables over directly to a professional, where there is no risk of your items being lost in transit. Gold buyers and jewellers’ premises are usually very secure, with buzz entry doors and strengthened glass. There is also the feeling of transparency as you can see your gold being weighed and analysed in front of you.
1. Convenient from Anywhere
One of the biggest draws for selling gold online is the convenience factor. You can start the process from the comfort of your home without having to find a local trusted gold buyer and drive to them. Most gold buyers will send you a pre-paid envelope to send your gold in. This can be a huge benefit for those who are unable to travel long distances to find a gold dealer with the highest gold prices.
2. Comparing Offers Easily
As with all online buying and selling, you have the ability to explore and compare various businesses quickly and check reviews. This allows you to shop around and compare quotes from various online gold buyers for the best deal without the pressure of making an on-the-spot decision. Be cautious about sending your gold to any company that cannot provide you with an estimate before you send your gold. Cash for gold businesses all have their own required profit margins and buy prices.
3. Potential for Higher Offers
There is the potential for higher offers when selling your gold online, as online-only businesses generally have lower overheads and require smaller profit margins to break even. At Cheshire Gold Xchange, we offer both online and in-store selling options and are able to fix our prices across both, giving you the benefit of online pricing on the high street. However, be cautious of online gold buyers who only provide PO Box addresses, as this may indicate they have no official business premises.
Online gold buyers also tend to be better connected to the current live gold price, and may be able to offer a better price based on the live market rate.
4. Delay in Payment
Many people who choose to sell their jewellery, coins, or other bullion may be in an urgent financial situation. Selling your gold in-store offers immediate payment, whereas selling online results in a waiting period. There will be an initial time for the gold pack to reach you, transit time for sending your items to the buyer, the inspection and analysis time, and then payment processing. From the moment you submit a gold pack request via our website to receiving payment, we have streamlined our process to complete within 2-3 working days. Other web-based businesses can take up to 10 working days to complete.
5. Risk of Loss in Transit
While most online cash-for-gold businesses offer insured shipping labels, some will only insure up to a low set limit. Some buyers will only insure up to £750, meaning you will have to pay for any additional insurance required. At Cheshire Gold Xchange, we insure up to £2,500. Even with this insurance cover, there is still a risk your items may be lost or damaged in transit. Claiming on insurance can also be a nuisance, with long payout time frames.
We provide padded envelopes inside all our gold packs and request customers use these to package their items securely.
Speed of Transaction: Selling in-store offers immediate payment and an overall quicker transaction process. In contrast, selling online involves posting your jewellery and waiting for payment, which can take 2-3 days with us, but up to 10 days with other buyers.
Flexibility in Pricing: Dealing face-to-face allows you to build a rapport with the valuer, making the selling process more enjoyable and personal. Building a relationship with the buyer may allow you to negotiate your cash offer. Selling gold online may not offer you the chance to negotiate, as online buyers often have more rigid pricing models, but they may offer more competitive rates.
Convenience: Online selling offers convenience for those who prefer not to visit a store or who live far from a reputable gold shop. However, in-store selling offers more control over the transaction and an immediate exchange.
Security: Both methods offer secure transactions. Some people may feel more comfortable sending their gold by post, while others prefer the in-store process, where there’s no risk of their gold being lost in transit.
Choosing between selling gold online or on the high street depends largely on personal preference. At Cheshire Gold Xchange, we match our online pricing in-store, so price isn’t a factor in your choice. If you prefer immediate payment and face-to-face interaction, selling in-store is likely the best option. You can watch the valuation process and feel confident you’re getting a fair price.
However, if convenience and the ability to compare offers are more important to you, selling gold online can be a great option. Just be sure you choose a reputable online gold dealer with a physical address and positive reviews.
Ultimately, both methods can provide a good return for your gold, as long as you do your research and choose a trustworthy gold buyer. Whether online or in-store, the most important factor is feeling comfortable with the process and confident in the offer you receive.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
