|The Very Highest Prices Paid...|
|Tesco Gold Exchange|
We Buy Scrap Gold
Why they started...
Tesco have said that the reason they have developed the service in the wake of the strong gold price, was to offer customers a 'trustworthy service that is transparent and offers market-leading value'. We completely agree that the market needed more transparency and that it helps if people can deal with a company that they can trust. There are many companies that have set up in the wake of the strong gold price but the majority offer no transparency and are certainly not trustworthy!
What they are paying...
Unlike the majority of gold buying companies - especially the postal companies - Tesco are offering to pay 80% of the intrinsic gold value (correct on 4th March 2011). This is an extremely competitive offer, which is shown on their website where they compare themselves to H Samuel (approx 70%), H&T Pawnbrokers (approx 60%) and Postgoldforcash (Recommended partner of WHSmith) (approx 20%). Unfortunately, but not unexpectedly they do not compare themselves with us, as we pay at least 85%!
There are benefits and drawbacks from both the service Tesco offer and the service we offer, for example, Tesco send you a free Gold Pack and postal envelope, they pay your postage and you get Tesco Clubcard points, we offer you none of these things but we do pay a higher percentage and differentiate between resaleable pieces and scrap, and we are happy to make an offer on diamond and gemstone set jewellery.
The table below shows a clear comparison between the two.
|% Paid for Bullion Coins||80%||90% - 100%|
|% Paid for Mounted Coins||80%||85% - 90%|
|% Paid for Gold Bars||80%||95% - 98%|
|Gold Bars||UK Hallmarked||All|
|Free return postage||Yes||No|
|Returns||42 days||Next Working Day|
|Payment by cheque||No||Yes|
|Payment by cash||No||Yes (-1%)|
|Payment by transfer||No||Yes|
|Optional payment in euros||No||Yes|
|Optional payment in U.S. Dollars ($ USD)||No||Yes|
|Knowledgeable / Experienced Staff*||No||Yes|
|24hr Automated Call Centre||Yes||No|
|Speak to staff||Mon - Fri||Mon - Sat|
* We're sure that the staff that check and / or test your gold have the knowledge and experience to do so. We are making this judgement based on a phone call today (Monday 4th April 2011) when we asked Tesco's call centre staff what they would pay for a sovereign. The lady we spoke to was extremely polite and relatively helpful but did not appear to know what a sovereign was and definitely did not know it's weight or alloy. It became apparent at this point that they were paying the same price per gram for sovereigns and 22ct scrap gold. Not only do we differentiate on price for resaleable gold - whether coins or jewellery - but we can also assure you that our staff know the weight and alloy for many gold coins, and that if they do not, we have plenty or resources at our fingertips to be able to find out!
The comparison prices on Tesco's website were in pounds; we have converted them into percentages of intrinsic value for a more objective and permanent comparison.
Some of our buying rates depend on market factors, and we have shown our representative price range where applicable.
Best or Second Best?
From the above information, we would reckon that for small amounts of old gold (say under £100 worth), you may be better off selling it to Tesco, because of their free postage. For larger amounts and higher values, then it becomes much better to sell to us, as we mainly pay 5% more than Tesco, and up to 25% more on some common items. In addition, we will buy and pay extra for high quality re-saleable items, diamonds, antique jewellery, coins, other precious metals.
It looks like Tesco come a close second to us. To get more money for your gold, deal with Chard, after all "Every Little Helps".
Don't Get Ripped Off
In recent months, we have noticed more and more advertisements from companies and individuals keen to buy scrap gold for cash.
Most of these recent start-ups use misleading and inaccurate claims in their adverts. Many give no indication of the price or percentage they actually pay, and our research shows that many of them pay no more than 50% to 60% of the actual value, and some as little as 10%, 15%, or even less.
While we would not claim to pay the absolute highest prices, we are certain that we pay more than 99% of our competitors!
We Buy Scrap Gold
Scrap Gold Selling Advice
Scrap Gold Selling Form
We Buy Coins
We Buy Diamonds
We Buy Diamond Rings
Where to find us
|...for the Highest Quality Scrap Gold|
32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England.|
Telephone (44) - (0) 1253 - 343081 ; Fax 408058; E-mail:
The URL for our main page is: https://24carat.co.uk