Scrap Silver Could Outshine Gold in 2020

Much has been said in recent months about the profitably of selling scrap gold, and it’s no surprise – gold scrap prices are hitting almost unprecedented levels, and anyone with a bit of scrap gold lying around has been cashing in.

But have you considered what a golden – or should we say silver – opportunity it would be if you happened to find some scrap silver lying around, too? 

Scrap silver is poised for a rally 

The prices of gold and silver historically rise in tandem, but the price of silver has been unusually disconnected from gold since 2011. Prices for scrap gold have been generally stable over the last eight years, but silver prices have more than halved since peaking in April 2011. 

This trend has persisted over time, meaning silver is significantly undervalued relative to gold. It’s very unusual to see scrap silver looking so inexpensive relative to its yellow cousin. If some estimates are correct, the ratio will eventually return to its long-run average, if some estimates are correct. This could make scrap silver jewellery and other items such as cutlery or ornaments much more valuable.

Sell scrap silver today 

At present, scrap silver items weighing 100 grams with 999.0 purity could earn you as much as £35.64 each. If prices are bottoming out, with the prospect of a great silver bull market in the coming years, you could expect to make even more when you sell. 

Cash for Your Gold accepts not just gold but silver scrap items of all shapes and sizes, too. We accept silver jewellery, coins, cutlery, even photo frames, candlesticks and, of course, bullion. 

Silver is often viewed as cheaper and generally less profitable to sell than gold, but in the past, it has shown far greater price volatility. This means every upswing in value can yield significantly greater gains when you sell scrap silver than you might have seen, if you had simply stuck to gold. 

Considering selling scrap silver? 

Cash for Your Gold should be your first port of call if you’re considering scrapping silver. We are specialists in both scrap gold and scrap silver, having worked in this sector for a number of years. 

If you wish to sell scrap silver, all you need to do is fill in our seller form and provide us with some basic information about the items you wish to sell.  

There’s no need to send an item over to us in order to get your free valuation as our scrap silver calculator is updated to reflect live spot prices. All you need to get an accurate reading of what your items could earn you are the weight and an idea about the purity of the item in question.

For more information about selling with Cash for Your Gold, don’t hesitate to call us on 01902 623 253.  

Large Quantities of Scrap Gold Thrown Away in Rubbish

It’s easy to see how an item of scrap gold might have lost its shine, leading you to wonder what’s the best way to dispose of it.

As specialists in scrap gold selling and recycling, we’ve noticed increasing numbers of people from waste disposal companies getting in touch with significant quantities of scrap gold, carelessly thrown away in regular household rubbish.

You might not think your regular household waste is worth much to anyone, but enough of us are throwing away a literal fortune, as pieces of scrap gold get chucked out on a regular basis.

This means so many of us are losing out on the deal of a lifetime, as the price of gold remains high and demand for scrap gold stays healthy and consistent.

Gold in your weekly rubbish

You make a point of remembering to sort out your recycling from regular rubbish, but take care not to put any scrap gold in with your plastic or food waste! With the price of just a gram of 9-carat scrap gold being worth £14.14, losing a load of unwanted gold jewellery could lose you a significant sum.

In many cases, people are possibly losing these items by accident, but in the event that someone is throwing scrap gold away intentionally, there’s a good reason to stop them – gold prices are close to hitting an all-time high in pound sterling terms.

That means that the gold scrap you find lying around your home is far from worthless – in fact, it could be worth more to you than ever before. That’s because the price of gold per troy ounce hit an all-time of £1,200 last summer, and prices have remained close to this peak ever since.

Reasons to sell scrap gold

It might be easy to see scrap gold items as unnecessary, unwanted or useless, especially if handed down through the family, in poor condition. But just because that old golden chain you’ve got lying around is broken, it doesn’t mean you can’t make a sizable amount, by selling your scrap gold and letting us recycle it for you.

Demand for scrap gold remains high, especially as so much of it ends up in landfill already, given that many consumer tech devices, including smartphones and tablets, use components which contain traces of gold and other precious metals.

To demonstrate just how much scrap gold is thrown down the drain in this way already, read our story about how the Japanese government recycled gold from over six million devices, creating enough recycled scrap gold to help make over 5,000 Olympic medals for the 2020 Tokyo Olympic Games.

Just remember, scrap gold is still gold, and it’s bound to be worth a significant amount. Think twice before chucking it away in the rubbish, if you can’t think of a good use to put it to. Why not consider selling it to a gold specialist who can recycle it for you, and help make you a tidy sum in the process?

For more information about recycling scrap gold, drop us a message or give Cash for Your Gold a call on 01902 623 253 today – we’ve paid out over £30 million for scrap gold already, so what are you waiting for?

Land of the Rising Sun Sees Value in Recycled Gold

It might sound unbelievable, but your smartphone is like having a miniature goldmine right in your pocket. What do we mean by this? The average smartphone is estimated to contain small traces of gold and other precious metals.

A BBC News story in 2014 revealed that a pile of 35-40 smartphones could yield as much as one gram of gold alone. It might not sound like much, but it just goes to show how much hidden value is right under your nose. Read on to learn more about how the Japanese used this information to recycle gold with great success.

Japanese gold recycled into medals.

In less than a year’s time, Japan will be hosting the Summer Olympics in Tokyo. For a number of years, the Japanese government has led an innovative campaign to persuade millions of Japanese citizens to hand in unwanted electronic devices. The campaign doubles as a bid to not only save the environment, but to help make sure the 2020 Tokyo Olympics can offer a whole host of shiny gold, silver and bronze medals.

Between April 2017 and March 2019, as many as six million smartphones and other electronic items were recycled, to produce 5,000 Olympic medals. Just think – all that scrap gold could have easily ended up remaining locked away in millions of homes across the country or lying in a landfill site.

This story highlights just how much gold can end up in everyday items, in the most unlikely of places. But don’t be fooled – if we stopped extracting gold from beneath the earth, and relied solely on the recycled gold from recycled electronic items, it’s estimated that we’d run out of gold within just 23 days.

Great value in recycling scrap gold.

What can we learn from the Japanese about recycling scrap gold? You might be interested to know that here at Cash for Your Gold, we can guarantee that any item of scrap gold you sell to us can be melted down, if you wish. Perhaps you’ve found an old family heirloom, but don’t like the idea of it simply being passed around from person to person.

When selling your scrap gold, why not ask for it to be completely melted down and reshaped into something new? Cash For Your Gold is able to offer as much as £13.27 for just a gram of 9-carat gold, and we accept a variety of items, whether that’s old jewellery, coins or bullion bars, just to name a few forms of scrap gold.

Use our Hallmarks guide, to help determine the purity or carat of your item. If you feel ready to make a sale of scrap gold, feel free to get in touch today – we look forward to helping you with any queries you may have.

Asian Jewellery – Store of Family Wealth or Potential Liability?

Asian gold jewellery is becoming increasingly more common within the scrap gold market and there are several reasons for this.

Changing Tastes

Firstly, the younger generations of families from Asian backgrounds have often grown up, or even been born, in the UK and often have developed very different tastes and attitudes to their forebears. This inter-generational divergence of tastes and attitudes is not limited to the UK and a recent survey by the World Gold Council found that younger generations across the world were less engaged with ownership of gold jewellery than previous generations have been. Gold is still seen by this younger population as a symbol and store of wealth but the desire for ownership of gold jewellery has diminished.  

The second reason that families are disposing of their gold heirlooms is that they are feeling at increased risk of being targeted by criminals. Recent increases in home-invasion style robberies which have targeted families with substantial collections of gold heirlooms have led to a substantial re-evaluation of the practice of keeping high value collections of gold at home.

Far from being the traditional store of family wealth and financial foundations for the generations to come, Asian jewellery collections are increasingly seen as potential liabilities which may encourage attention from unwelcome sources.

Loss Of Trust?

In addition, the reputation of the traditionally trusted 22 carat standard of Asian jewellery has been under threat in recent years. In 2017 a number of Asian jewellers from Southall in London were prosecuted for offences involving non-hallmarked gold and irregularities with weighing scales. A more recent scandal relating to the hallmarking of items of substandard purity in Birmingham has also been exposed. 

Over the last few decades many scrap gold buyers and pawnbrokers have purchased Asian jewellery which turned out to be problematic. Heavily plated items and elaborate pieces constructed from numerous parts, many of varying purity with low grade solder used in manufacturing have combined to produce a ‘once bitten, twice shy’ attitude from many companies  towards Asian gold. This has resulted in many dealers only offering a fraction of an item’s true value when it is offered to the trade. 

It is unfortunately true that many Asian gold pieces have problems, particularly those that were artisan crafted several years ago in Asia. At a time before stringent regulation of the jewellery market it was quite common for items such as rings, bangles and wedding sets to be made by a local goldsmith. Unfortunately, some of the more unscrupulous manufacturers were not averse to using whatever soft metals were at hand to mix in with the gold during manufacture. Traditional wedding sets are also well known for the presence of low carat solder which is used to strengthen intricate designs, particularly in multi-section necklaces. This type of work is then often hidden with a thin coating of 22 carat gold to provide a uniform and lustrous appearance to the entire piece.

Despite the presence of problematic items, much of the Asian gold jewellery that we deal with is of an exquisite nature and high purity, particularly when fully hallmarked or originating from heavily controlled and regulated sources such as Dubai. 

In general, Asian gold jewellery heirlooms are valuable pieces, but perhaps not as valuable in some cases as the manufacturer or jeweller led the owner to believe when they were first made or purchased.

As scrap gold buyers we have seen a lot of Asian gold jewellery over the years. Commercially produced plated jewellery is also more common nowadays than previously as many specialist Asian jewellers deal only in these lower cost items. Older heirloom pieces tend to present with interesting additions such as lead and tin and their purity can vary widely, from section to section, from 14 carat to 22 carat. You can see the difference that this makes to an item’s value by taking a look at our price charts.

A Modern Solution

Modern analytical equipment has provided the means for specialist companies such as CashForYourGold to accurately test items to determine the exact nature of their make-up. Gone are the days when customers who wish to sell Asian jewellery and valuable family heirlooms are forced to accept low offers for their possessions. 

Whilst not all Asian jewellery was not accurately described when it was made or initially bought, customers can now at least be confident that their items will be accurately tested and that they will receive a fair offer from CashForYourGold. 

In addition, as part of Group International Ltd, we are closely linked to our sister website UKBullion.com, one of the UK’s leading suppliers of Gold Bars and Gold Coins. It is therefore a straightforward process to part-exchange traditional Asian Gold Jewellery and heirlooms against the purchase of beautiful, fully certified and guaranteed Gold bars and coins in sizes from 1 gram to 1 kilogram. 

This process not only establishes the true level of the value held in family pieces but also allows that value to be transferred into items that the younger generations are more likely to appreciate. 

By transferring that value into a number of smaller items, it is also easier to distribute between members of the next generation when the time comes or to use part of the value when and if needed. This ‘liquidity’ of assets is restricted when substantial value is held in a single piece or set of Asian Gold jewellery. 

Security concerns can also be addressed by transferring wealth from traditional Asian Gold jewellery to certified Gold Bars and Coins which can be stored and concealed in numerous locations or even divided between different members of the family. We also offer a professional, low cost, fully insured vaulted storage solution for customers who purchase from us and can offer free introductory storage periods to allow you to become accustomed to this type of security solution.

In summary, the ownership of valuable Asian Gold jewellery should not be seen as the potential liability that many scrap gold buying companies suggest it to be! 

The true value of your items can be accurately determined by companies such as CashForYourGold which have invested heavily in state of the art XRF testing equipment and have the market presence to offer fair prices and the option to ‘convert’ traditional, heirloom pieces into fully certified and guaranteed Gold Bars and Gold Coins that make more attractive inheritances for younger generations and can be easily stored and protected.

Is now the best time to sell gold?

In a nutshell, yes! Right now, is a great time to sell any unwanted gold! The price of gold is still experiencing a six-month high and doesn’t look like it will be falling any time soon as tensions remain between America and China in the ongoing trade war.

Other factors keeping the price of gold as high as it has been over the past few weeks is the demand for jewellery in India, America and China and the Central Bank Reserves that have been purchasing more gold than they are selling.

As a metal, gold retains its value and investors turn to gold to protect their wealth in times of economic uncertainty, but does that mean now is the wrong time to sell those broken chains, remaining earring from a pair or that jewellery you just don’t wear any longer?

As with all investments, the clever part of making your gold work for you is to sell it when the price is high. The price of gold changes throughout the day as it responds to market demands, how do you know when to sell? Fortunately, you don’t need to worry too much when you want to scrap your gold items.

At Cash For Your Gold we monitor the live price regularly throughout the day for the price we will pay per gram (which is a percentage of the live price of gold). We then update our prices several times a day so you will always get the best price we can give you.

There are no hidden charges apart from those listed on our website to cover payment costs, so you will always have a fair idea of what you will receive, providing you know the weight (in grams) and purity (carat) of your gold.

It’s always worth remembering that we only trade in precious metals. This means should you have any items that contain gemstones we will not purchase them, and an adjustment will be made from the overall weight (the gross weight) of the item to account for them. If you want to keep the gemstone, you need to remove it before you send in your items or bring them to us, as it is not cost effective for us to remove them so they will get melted down along with the gold they are bedded in.

We offer payment by bank transfer (payment directly into your bank by electronic transfer) or cheque.

So, taking all the above into consideration, why don’t you start rooting in your jewellery boxes and kitchen drawers to find those long forgotten broken necklaces and earrings or look at what jewellery you no longer wear! Make your Gold work for You! Visit us today at www.cashforyourgold.co.uk or call our dedicated Staff on 01902 623 253. We’re here to help!