Our guide to finding out today's gold price UK
Thinking of trying to raise some quick cash but struggling for inspiration on how to do it? We may just have something that might interest you in this blog! More and more people are discovering to their great joy that there's plenty of money to be made in selling their old gold. All you need to know is today's gold price UK.
Before diving headlong in to this heady world of making a quick buck, it's worth noting that you should proceed with caution. As more people who are unfamiliar with selling gold try to do it, so does the opportunity for a rip off increase. Keeping yourself shielded with knowledge is the way to avoid getting taken for a ride!
A quick glance at the internet reveals a plethora of these "Cash for Gold" sites. However, a lot of them will likely rip you off over the price of your gold, offering paltry quotes, often as low as 20% of the true value of the gold in question.
The first step to making sure you don't get taken to the cleaners is to make sure your gold is the real deal. You do this by checking to establish your gold isn't magnetic. If it is, this points to the presence of an alloy that the gold is mixed with, thus rendering it worthless in the eyes of Cash for Gold resellers.
Once you're happy your gold is the real deal, then it's time to start your search for Hallmarks. The hallmarks currently used in the UK are as follows. 9 Carat - 375, 14 Carat - 583, 18 Carat - 750, 22 Carat - 917, 24 Carat - 999. Basically, the higher the number, the more your gold is worth.
You can then weigh your gold to establish the weight in grammes. Right now, gold is retailing for £22.50/gramme. Once you have this information, all you need to do is multiplay the weight in grammes by the price per gramme, and multiply that by the purity percentage.