The Very Highest Prices Paid...


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Pile Of Scrap Gold
We Buy Scrap Gold
Tesco Buying Scrap Gold
In January 2011 Tesco started to advertise a postal gold purchasing service. Apparently they had trialled this service since November 2010 - allowing customers to either post their gold or take it into one of 19 stores for them to send on their behalf.
We do not always take notice of new companies setting up to buy or sell gold but we were quite interested in Tesco for a couple of reasons; one being the reason they set up and two - the prices they were paying.

Why they started...
Tesco have said that the reason they have developed the service in the wake of the strong gold price, was to offer customers a 'trustworthy service that is transparent and offers market-leading value'. We completely agree that the market needed more transparency and that it helps if people can deal with a company that they can trust. There are many companies that have set up in the wake of the strong gold price but the majority offer no transparency and are certainly not trustworthy!

What they are paying...
Unlike the majority of gold buying companies - especially the postal companies - Tesco are offering to pay 80% of the intrinsic gold value (correct on 4th March 2011). This is an extremely competitive offer, which is shown on their website where they compare themselves to H Samuel (approx 70%), H&T Pawnbrokers (approx 60%) and Postgoldforcash (Recommended partner of WHSmith) (approx 20%). Unfortunately, but not unexpectedly they do not compare themselves with us, as we pay at least 85%!

Comparison
There are benefits and drawbacks from both the service Tesco offer and the service we offer, for example, Tesco send you a free Gold Pack and postal envelope, they pay your postage and you get Tesco Clubcard points, we offer you none of these things but we do pay a higher percentage and differentiate between resaleable pieces and scrap, and we are happy to make an offer on diamond and gemstone set jewellery.
The table below shows a clear comparison between the two.

ComparisonTescoChard
By PostYesYes
In PersonNoYes
% Paid80%85%
% Paid for Bullion Coins80%90% - 100%
% Paid for Mounted Coins80%85% - 90%
% Paid for Gold Bars80%95% - 98%
Gold BarsUK HallmarkedAll
UnhallmarkedYesYes
DiamondsNoYes
GemstonesNoYes
SilverNoYes
PlatinumNoYes
Gold PackYesNo
Free postageYesNo
Free return postageYesNo
Returns42 daysNext Working Day
Payment by chequeNoYes
Payment by cashNoYes (-1%)
Payment by transferNoYes
Optional payment in eurosNoYes
Optional payment in U.S. Dollars ($ USD)NoYes
Clubcard PointsYesNo
ContractRamsden'sChard
Maximum1,500Unlimited
Online CalculatorYesNo
Knowledgeable / Experienced Staff*NoYes
24hr Automated Call CentreYesNo
Speak to staffMon - FriMon - Sat

Sources, Assumptions
* We're sure that the staff that check and / or test your gold have the knowledge and experience to do so. We are making this judgement based on a phone call today (Monday 4th April 2011) when we asked Tesco's call centre staff what they would pay for a sovereign. The lady we spoke to was extremely polite and relatively helpful but did not appear to know what a sovereign was and definitely did not know it's weight or alloy. It became apparent at this point that they were paying the same price per gram for sovereigns and 22ct scrap gold. Not only do we differentiate on price for resaleable gold - whether coins or jewellery - but we can also assure you that our staff know the weight and alloy for many gold coins, and that if they do not, we have plenty or resources at our fingertips to be able to find out!
The comparison prices on Tesco's website were in pounds; we have converted them into percentages of intrinsic value for a more objective and permanent comparison.
Some of our buying rates depend on market factors, and we have shown our representative price range where applicable.

Best or Second Best?
From the above information, we would reckon that for small amounts of old gold (say under 100 worth), you may be better off selling it to Tesco, because of their free postage. For larger amounts and higher values, then it becomes much better to sell to us, as we mainly pay 5% more than Tesco, and up to 25% more on some common items. In addition, we will buy and pay extra for high quality re-saleable items, diamonds, antique jewellery, coins, other precious metals.
It looks like Tesco come a close second to us. To get more money for your gold, deal with Chard, after all "Every Little Helps".

Don't Get Ripped Off
In recent months, we have noticed more and more advertisements from companies and individuals keen to buy scrap gold for cash.
Most of these recent start-ups use misleading and inaccurate claims in their adverts. Many give no indication of the price or percentage they actually pay, and our research shows that many of them pay no more than 50% to 60% of the actual value, and some as little as 10%, 15%, or even less.
While we would not claim to pay the absolute highest prices, we are certain that we pay more than 99% of our competitors!

We Buy Scrap Gold

Scrap Gold Selling Advice

Scrap Gold Selling Form

We Buy Coins

We Buy Diamonds

We Buy Diamond Rings

Where to find us



...for the Highest Quality Scrap Gold

32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England.
Telephone (44) - (0) 1253 - 343081 ; Fax 408058; E-mail:
The URL for our main page is: https://24carat.co.uk
Chard(1964) Ltd