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Selling scrap gold in the UK: the honest playbook

Everything sellers get wrong — and how to walk away with the best realistic price for your gold, silver, platinum or palladium.

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Last reviewed: July 2026 · ~8 min read

1. Know the two numbers before you go

There are always two figures: the melt value (the raw metal content at today's spot price) and the realistic payout (what a dealer will actually hand over). Nearly every calculator online shows only the first. That gap is exactly where sellers lose money. Start on our gold calculator, enter your pieces, and note both numbers.

The £672 → £242 reality gapA MoneySavingExpert seller was quoted £672 of melt value by an online tool and offered just £242 in person — a 64% haircut. Forewarned is forearmed.

2. Weigh and sort by carat

Separate items by hallmark: 9ct, 14ct, 18ct, 22ct and so on. Mixed lots get valued at the lowest carat present, so sorting protects your higher-purity pieces. Weigh on a scale accurate to 0.01 g. Add each group as its own row in the multi-item calculator.

3. Understand the payout tiers

  • Pawnbrokers (~60%): fast cash, lowest price.
  • High-street jewellers (~70%): convenient, still well below melt.
  • Online mail-in refiners (~85%): best mainstream option; compare their published rates.
  • Specialist bullion dealers (~92%): best for larger or high-purity lots.

Model each tier with the payout slider to see what a fair offer looks like before you negotiate.

4. Check the trend

If you're not in a hurry, glance at the gold price history to judge whether prices are rising or falling. Set a price alert and wait for a better window.

5. Get it in writing

Ask for a written, itemised quote showing the price per gram per carat. A transparent buyer will happily provide one. Walk away from anyone who won't.

6. Tax: usually nothing, sometimes something

Sovereigns and Britannias are CGT-exempt. Other holdings may be chargeable above the annual allowance (default £3,000 — verify the current figure). Our CGT quick-check gives a rough estimate; it is not tax advice.

Frequently asked questions

How much do dealers actually pay for scrap gold in the UK?
Typically 60–92% of the melt value, depending on the buyer. Pawnbrokers and high-street jewellers sit at the lower end (around 60–70%); reputable online mail-in refiners and specialists pay the most (around 85–92%). Our calculator lets you model each with the payout slider.
Why is the dealer offer lower than the calculator melt value?
Melt value is the raw metal content at spot price. A dealer has to assay (test) the metal, refine it, cover overheads and make a profit — so they pay a percentage of melt, never 100%. One documented MoneySavingExpert case saw £672 of melt value offered just £242.
How do I work out the price of 9ct or 18ct gold per gram?
Take the gold spot price per troy ounce, divide by 31.1035 to get the price per gram of pure gold, then multiply by the fineness: 0.375 for 9ct, 0.750 for 18ct. Our calculator does this live for every carat.
Do I pay Capital Gains Tax when I sell gold?
Legal-tender UK bullion coins such as Gold Sovereigns and Britannias are CGT-exempt. Other gold (jewellery, bars, foreign coins) can be chargeable if your total gains exceed the annual allowance. Use the CGT quick-check for a rough estimate — it is not tax advice.
What weight units can I use?
Grams, troy ounces (31.1035 g), pennyweight/dwt (1.55517 g) and tola (11.6638 g). The tola option helps sellers of South Asian jewellery.
Are the prices on this site offers?
No. Every figure is an estimate of melt value, never an offer to buy. Always obtain a written quote before selling.