Where is the best place to sell gold in the UK?
The price of gold has never looked so healthy. 2025 has seen gold break new price records, breaking £80 per gram, for the first time in history. Families across the country have been raiding their jewellery boxes for forgotten gold bracelets, bangles and necklaces.
But being able to maximise on this price high will depend on where you choose to sell to. Here is what UK householders and jewellery hoarders should weigh up before handing over that broken gold curb chain or Sovereign coin.
The convenience of posting your gold
There has been an influx of online only businesses offering “cash for gold” services. These businesses work on customers posting their gold into them, usually via a pre-paid and insured mailing bag that is sent out to your address. You should expect bank transfer payment within 24 hours of your gold being delivered to them. The best of these gold buying businesses publish live prices per gram for every carat and insure parcels for up to £2,500 as standard.
As with any online buying or selling you must proceed with caution and carry out due diligence. Consumer-protection bodies have warned against firms that list only a premium rate number and PO-box addresses that can be hard to chase if something goes wrong. Stick to companies with a full street address, landline and membership of a recognised trade body such as the National Association of Jewellers. Reading customer reviews is your best option for gaining a true picture of the level of service offered.
Britain’s two traditional gold buying hubs
Birmingham’s Jewellery Quarter
A warren of refiners, pawn-brokers, jewellers and scrap metal dealers has kept prices competitive here for more than a century. Walk-in sellers can ask for several on-the-spot quotes within a single afternoon. This area has always had the reputation of offering highest prices per gram on scrap gold and bullion. A well known and trusted option in the jewellery quarter is Lois Bullion.
Hatton Garden, London
Hatton Garden Metals and the cluster of bullion houses around St Cross Street have similar “while-you-wait” services and a reputation for transparent rates that are updated every few minutes online.
If you are local enough to drive to either district this can make sense if you have a large amount of hallmarked or unhallmarked gold, and the time to compare dealers face-to-face. It's important to note that some of the businesses in these areas may only offer cash payment, so if you are requiring an immediate digital transfer you should do some ringing around before visiting.
A northern alternative at Birmingham-level rates
For sellers in North-West England, Warrington based gold buyer Cheshire Gold Xchange quotes prices that closely shadow those in the Jewellery Quarter: paying up to 97% of the spot price on certain gold products. Among the best published gold retail rates in the UK on a per gram basis and with immediate bank transfer payment options. The company also offers a fully insured postal service, removing the need for a four-hour round trip to Birmingham or London for those gold sellers in the North of England.
When a high-street jeweller may be a better bet
If the item is set with a sizeable natural diamond or other precious stone, a gold buyer will usually pay only for the metal content. Gold buyers will pay very high prices per gram, but usually focus on recycling the gold. A local jewellery may be your best option for engagement rings or large stone rings where the precious metal value is low, and a large markup has been previously paid. A local jeweller, or auction house may offer more, as they will retail the piece back to the end user rather than melting and refining.
It is always recommended you check the pricing of the countries top gold buyers, many of the countries leading buyers such as Cheshire Gold Xchange, and Lois Bullion have gold price calculators on their websites where you can obtain instant valuations based on purity and the gold weight.
Spot price vs. the price you actually receive
Many cash for gold websites will display the current gold spot prices on their website, possibly in a ticker or table format. It's important you don't assume this is the price you will receive for your gold. Dealers will pay a percentage of the spot price for your scrap gold, high quality gold buyers will offer between 92-95% of the spot price for scrap gold.
You should choose a gold dealer who has the below:
- A public, 'price paid' per-gram table for every carat (9ct, 14ct, 18ct, etc.).
- Time-stamped updates at least once a day.
- No hidden fees for assay or bank transfer.
The bottom line
Record prices mean there has rarely been a better moment to convert unwanted gold into cash. Whether you choose the convenience of an online buyer, the bustle of Birmingham’s Jewellery Quarter, the prestige of Hatton Garden or a reputable regional gold dealer, the best deal comes from a little homework. You should compare at least two written quotes, read the small print on insurance and avoid anyone who can hide behind a PO-box. A few extra minutes of diligence can be worth many extra pounds in your pocket.
