How much is your gold worth?

Why choose a trusted gold dealer in the UK

Selling gold is a significant financial decision, so working with a reputable gold dealer in the UK protects your interests. GoldUnion UK is an authorised distributor of Cooksongold, a trusted UK refiner, and operates physical branches. This combination of online convenience and in-person service is rare in the UK market, where most dealers operate exclusively online. Visiting a branch allows you to verify the dealer’s credentials, ask questions, and receive a professional appraisal before committing to a sale.

Many sellers make the mistake of accepting the first offer they receive, especially when dealing with online-only buyers. A physical branch provides a layer of security, as you can compare the dealer’s valuation with independent assessments. GoldUnion UK also includes sealing fees in its pricing, so there are no hidden commissions or unexpected deductions from your payout.

For those who prefer to sell remotely, the online valuation tool is updated every minute to reflect the latest LBMA London fix. This ensures your estimate remains accurate, even if gold prices fluctuate between the time you receive your quote and the moment you decide to proceed. Whether you choose to sell in person or online, working with a regulated dealer minimises the risk of fraud and guarantees a smooth transaction.

How to use a gold calculator for an accurate valuation

A sell my gold calculator UK tool simplifies the valuation process by breaking down the key factors that determine your gold’s worth. The three main variables are weight, purity, and the current market price. GoldUnion UK’s calculator allows you to input these details for each item, whether it’s a gold bar, a sovereign coin, or a piece of jewellery. For example, a 22-carat gold sovereign weighs approximately 7.98 grams, while a 9-carat gold chain might weigh 10 grams but contain less pure gold.

Purity is measured in carats, with 24-carat gold being the purest form. Most jewellery in the UK is 9-carat, 14-carat, or 18-carat, meaning it contains other metals like copper or silver. The calculator adjusts the valuation accordingly, so a 9-carat item will be worth less per gram than a 24-carat bar. If you’re unsure about the purity of your gold, a professional appraisal at one of GoldUnion UK’s branches can provide clarity.

Once you’ve entered the details, the calculator generates an instant estimate based on the live LBMA London fix. This figure is a starting point for negotiations, but keep in mind that dealers may offer slightly less to account for refining costs and profit margins. GoldUnion UK’s transparency about its pricing structure helps you understand these deductions upfront, so there are no surprises when you receive your final offer.

What types of gold can you sell

GoldUnion UK accepts a wide range of gold items, from bullion to inherited jewellery. The most common items sellers bring in are gold coins, such as sovereigns and Britannias, which are popular among collectors and investors. These coins are typically 22-carat and are valued based on their weight and the current gold price. Gold bars, including those from Cooksongold, are another high-value option, with sizes ranging from 1 gram to 1 kilogram. The larger the bar, the lower the premium over the spot price, making them a cost-effective choice for serious investors.

Jewellery is the most frequently sold item, especially pieces that are broken, outdated, or no longer worn. Rings, necklaces, and bracelets are all accepted, regardless of their condition. Even gold-plated items can be sold, though their value is significantly lower than solid gold. If you’re unsure whether an item qualifies, GoldUnion UK’s team can assess it during an in-branch appointment or provide guidance over the phone.

For those looking to sell jewellery, it’s worth noting that sentimental value doesn’t translate into a higher price. A dealer will only pay for the gold content, not the craftsmanship or emotional attachment. However, if you have a rare or antique piece, it may be worth consulting a specialist, as some items hold additional value beyond their metal content.

Steps to sell your gold safely and securely

Enter these details into GoldUnion UK’s calculator to receive an estimate. For a more precise appraisal, book an appointment at one of their branches, where a specialist will verify the weight and purity using professional equipment.

Once you’ve received an offer, you can choose to accept it immediately or take time to consider your options. GoldUnion UK provides a £100 bonus for in-branch appointments, which can be added to your payout if you proceed with the sale. This incentive is designed to encourage sellers to visit a branch, where they can ask questions and feel more confident in their decision. If you accept the offer, the dealer will seal your items in a tamper-proof bag and send them to a refinery for final verification.

Payment is typically made via bank transfer within 48 to 72 hours of the items being received and verified. GoldUnion UK does not offer cash payments, as this is a security risk for both the seller and the dealer. The bank transfer method ensures a clear record of the transaction, which is important for tax purposes and personal record-keeping. Before finalising the sale, make sure you have all the necessary documentation, including proof of identity and a copy of the valuation report.

Frequently asked questions about selling gold

How do I find a place to sell my gold near me

If you’re searching for a place to sell my gold near me, start by checking the locations of trusted dealers in your area. GoldUnion UK has several branches, making it a convenient option for sellers in those regions. You can also use online directories or search engines to find local gold buyers, but be sure to read reviews and verify their credentials before visiting. Look for dealers who are members of the British Numismatic Trade Association (BNTA) or the National Association of Jewellers (NAJ), as these organisations require their members to adhere to strict ethical standards.

Another option is to attend a gold-buying event, which some dealers host in community centres or hotels. These events can be convenient, but they often come with higher pressure to sell quickly. If you prefer a more relaxed environment, book an appointment at a permanent branch, where you can take your time to discuss your options. Always bring proof of identity, as dealers are required by law to verify your details before completing a transaction.

What documents do I need to sell my gold

When selling gold in the UK, you’ll need to provide proof of identity and, in some cases, proof of ownership. Acceptable forms of ID include a passport, driving licence, or a utility bill with your name and address. If you’re selling inherited gold, you may also need to provide a death certificate or a will to prove your right to sell the items. Dealers are required to comply with anti-money laundering regulations, so they will ask for these documents to ensure the transaction is legitimate.

If you’re selling gold on behalf of someone else, you’ll need a letter of authorisation from the owner, along with their ID and yours. This is a common requirement for executors handling an estate or family members selling items on behalf of a relative. GoldUnion UK’s team can guide you through the documentation process during your appointment, so you don’t need to worry about forgetting anything.

How is the price of gold determined when I sell

The price of gold is determined by the LBMA London fix, which is set twice daily by the London Bullion Market Association. This benchmark price is used by dealers worldwide to value gold items, though the final offer you receive will also account for factors like purity, weight, and refining costs. For example, a 24-carat gold bar will be valued closer to the spot price than a 9-carat gold ring, which contains less pure gold.

Dealers typically offer between 80% and 95% of the spot price, depending on the item’s condition and the dealer’s overheads. GoldUnion UK updates its prices every minute to reflect the latest LBMA fix, so you can be confident that your valuation is based on current market conditions. If you’re selling multiple items, the dealer may offer a bulk discount, so it’s worth asking about this during your appointment.

Can I sell gold that is damaged or broken

Yes, you can sell damaged or broken gold items, as dealers are primarily interested in the metal content rather than the item’s condition. Whether it’s a snapped chain, a bent ring, or a broken watch, the gold can still be refined and reused. However, the value will be based solely on the weight and purity of the gold, not on any craftsmanship or sentimental value.

GoldUnion UK accepts all types of gold, including items that are no longer wearable. During an in-branch appointment, a specialist can assess the item and provide an accurate valuation. If you’re unsure whether an item qualifies, you can send a photo to the dealer for a preliminary estimate. This service is particularly useful for sellers who are unable to visit a branch in person.

What are the tax implications of selling gold in the UK

In the UK, selling gold is generally tax-free for individuals, as gold bullion is considered a wasting asset and is exempt from Capital Gains Tax (CGT). However, there are exceptions to this rule. If you sell gold coins that are considered legal tender, such as sovereigns or Britannias, they are also exempt from CGT. But if you sell rare or collectible coins, you may be liable for tax if the profit exceeds your annual CGT allowance, which is £3,000 for the 2024/25 tax year.

If you’re selling gold as part of a business, you may need to register for VAT and pay tax on your profits. It’s always a good idea to consult a tax adviser if you’re unsure about your obligations. GoldUnion UK provides a receipt for every transaction, which you should keep for your records in case you need to prove the sale to HMRC. The receipt will include details of the items sold, the price paid, and the date of the transaction.