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Many people are selling scrap gold and jewellery in a bid to raise ready cash quickly.

Advertisements for the sale of scrap gold and jewellery regularly appear on the TV screens as well as in the rest of the media. On the high street there are shops who now offer a service buying the items from members of the public.

There are two main reasons why selling scrap gold is on the increase. With the current economic climate more of us need to raise extra cash and can no longer afford to have unused gold or jewellery just stuck in a drawer gathering dust.

Secondly, the price of gold seems to be rising all the time so the demand from buyers is high which of course means the sellers, ie the public, will get a much higher price than normal for their gold.

Unfortunately, because the market is so vibrant at the moment, there are a lot of companies jumping on the gold buying bandwagon. Unfortunately a few companies do leave the public dissatisfied as they often pay below par prices, leaving their customers quite literally short changed.

It has to be said that most of the complaints about receiving low payments have happened in the United States but if you are planning on selling your scrap gold and old jewellery in the UK than there are some sensible safeguards you can put in place.

One safeguard is to deal only with reputable companies who are already established. This is especially important if you are dealing with these companies by post. There are obvious concerns with this method but the reputable companies will have a gold calculator on their websites so you will know in advance the figure you are likely to receive and, more importantly, the best gold buying companies will offer a price guarantee.

By doing this you will know in advance the figure you are likely to receive and, more importantly, the best gold buying companies will offer a price guarantee.

By entering ‘gold buying centres’ or ‘gold buying shops’ into a search engine you should be able to find a gold buying company that meets your needs though be very careful to check the websites terms and conditions and always choose a company that offers a gold calculator on their site.

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