Gold is a precious and valuable metal and it’s also something that most people own. From gold jewellery to gold coins, you’re likely to have something at home made from gold and if so, you’ve probably got assets with more value than you are aware of.
If you’re thinking about raising cash against gold jewellery, gold coins or even gold bars, you’ll certainly want to know how much they’re worth. Maxcroft can determine the value of your gold bricks, gold coins and gold jewellery and give you an idea of how much instant cash you can get for unwanted items.
How Much Is Gold Worth?
Gold is a valuable commodity and its value fluctuates all the time often in response to world events which affect economies. In fact, you can see the price of gold in the UK by tracking the FTSE stock market and seeing how much a troy ounce of gold is worth. However, it’s important to remember that the purity, weight, and format of the gold you have will determine its value.
Purity of Gold
24 karat gold is pure gold that isn’t mixed with any other alloys. It’s worth more than 14 karat gold, which contains 14 parts pure gold and 10 parts alloys. Similarly, rose gold is made with copper as an alloy and is valued according to how much gold is present in a piece of rose gold jewellery. Rose gold has a more coppery colour than yellow gold and so its value may also be affected by changes in fashion too.
Weight of Gold
The weight of the gold items you have will impact on the value. If you have five ounces of gold coins in London they will be worth more than two ounces of the same coins simply because the more gold weight, the more value there is.
When you want to sell gold in Central London, you’ll find that any potential buyer will examine and weigh the item, so that they can offer you a price based on the weight of pure gold.
Format of Gold
Gold comes in many different forms, such as gold bracelets, rings, earrings, coins, and bars. Gold bars are arguably the easiest to value because they consist of solid gold, without the presence of any other materials.
However, if you have gold in other formats, such as gold jewellery, this can be valued and exchanged for instant cash too. When valuing gold jewellery or coins, it’s important to differentiate between pieces which are most valuable in their current format and those which are more valuable when sold to be smelted for their gold content.
A very rare historical gold coin may be worth more in its current format because of its historical significance. Conversely, a relatively common gold coin may be worth more when its value is based purely on its weight and gold content.
When you want to access cash quickly however, your gold is likely to be valued based on its purity and weight, regardless of what format it’s in.
Can You Exchange Gold for Instant Cash?
Absolutely! At Maxcroft we specialise in lending against gold. If you’re looking for gold bars to buy or sell near Camden or you want to sell gold jewellery in London or pawn gold in London and Essex, our experienced valuers will be happy to assess the item and make you an offer. Simply contact our team on 0208 518 1828 or email us at enquiries@maxcroft.co.uk to arrange a valuation.
Using Gold as Loan Security
When you want to access instant cash, borrowing against gold coins, bars or jewellery can be a viable option. If you have a piece of gold jewellery that has sentimental value as well as financial value, you may be reluctant to part with it for good but, fortunately, you won’t have to.
Instead of selling your gold, why not use it as security for a pawnbroker’s loan? This still enables you to access instant cash, but it means that you’ll be able to collect your item when the loan has been repaid. You will remain the legal owner of the item until the loan is redeemed.
How Does a Pawnbroker’s Loan Work?
A pawnbroker’s loan is a simple way to use your assets to access instant cash. You use your chosen asset say a gold bracelet as security for a loan. The item is valued, and you’ll be offered a loan amount based on its value. If you choose to accept, you’ll leave the item in our care and receive the agreed loan amount in cash.
At Maxcroft, our loans are for a period of six months and can be paid back at any time during the six month period without incurring any extra charges. The interest you will pay depends on the value of the loan and the length of time the loan is outstanding. Maxcroft’s monthly interest rates range from 1.99% to 6% for loans based on jewellery, gold, and watches.
When using gold as security for a loan, there are no credit checks or lengthy application processes. Instead, your item is valued based on its purity and weight and a loan is offered based on that value.
Exchange Gold for Cash Now
Are you interested in pawning gold coins, gold jewellery or gold bars in Essex or London? Maxcroft has over 40 years’ experience, offers outstanding service and issues loans against gold and other assets and valuables. Whether you’ve got a single item or a selection of gold jewellery, we’re on hand to provide instant loan valuations.
If you’d like to discuss an item that you are considering raising cash against, take a look at our pawn gold website page here, get in touch with us now on 0208 518 1828, or email us at enquiries@maxcroft.co.uk to arrange a loan valuation.
