Gold prices have significantly increased, and as of 11 October 2026, it is priced at £3,180.86. That surge has pulled thousands of households toward their jewellery boxes, wondering what an old chain, a broken ring, or a drawer of mismatched earrings might actually be worth. Selling online is often the quickest route to cash, but it also means posting valuables to a company you may never meet in person.
Before you sell scrap gold through a postal dealer or online buyer, it is important to understand how pricing works, what legal protections apply, and which red flags separate reputable buyers from the rest.
What Is Scrap Gold and Why Are People Selling It Online?
Scrap gold refers to any gold item bought for its metal content instead of its design or brand. This includes broken jewellery, single earrings, old dental gold, unworn wedding rings or outdated pieces sitting unused for years. Its value is based purely on weight and purity, not condition or craftsmanship.
Online gold selling has grown because it removes the need to visit a shop in person. Sellers submit photographs or descriptions of their items, receive a quote, then post the gold using an insured delivery service.
The following factors are driving interest in online gold selling:
- Record gold prices mean even small items carry meaningful value.
- In some instances, online buyers may offer rates closer to the spot price than high-street pawnbrokers.
- Postal selling suits people without a local assay office or reputable jeweller nearby.
- Decluttering has pushed more households to sell scrap gold and convert unused valuables into cash.
How Is the Price of Your Scrap Gold Actually Calculated?
If you opt to sell scrap gold, then the pricing will be made through multiplication of the purity and weight of the gold with the gold spot price. Below is a short description of each of the elements:
- Purity (fineness or carat): The purity of UK gold jewellery is indicated by fineness, which means parts of pure gold in every 1,000, along with a carat scale that ranges from 1 to 24.
- Weight: Total weight of the scrap, which includes the gold and other materials contained in the scrap.
- Percentage of spot price paid: It depends on the general condition of the scrap and the amount of gold contained in it.
UK Gold Purity and Hallmark Reference
Confirming your gold’s weight brings more clarity about its market value. Here is how the common UK gold purities compare, so you can match your item’s hallmark to its approximate gold content:
| Gold Purity | Hallmark (Fineness) | Common Name | Approx. Pure Gold Content |
| 9 carat | 375 | Standard UK jewellery gold | 37.5% |
| 14 carat | 585 | Mid-range jewellery gold | 58.5% |
| 18 carat | 750 | Higher-purity jewellery gold | 75% |
| 22 carat | 916 | Traditional or wedding band gold | 91.6% |
| 24 carat | 999 | Pure investment gold | 99.9% |
What Is the Role of a Hallmark When Selling Your Gold?
A hallmark is a legal requirement for gold items over one gram sold as gold, and it is how a genuine buyer verifies your item’s purity before making an offer. Under the Hallmarking Act 1973, any gold item weighing 1 gram (about 0.035 ounces, or roughly the weight of a small stud earring) or more must carry an approved hallmark if it is described and sold as gold.
That hallmark, applied by one of the UK’s four assay offices, tells a buyer exactly what they’re looking at: who submitted the item, how pure the metal is, and where it was tested. This is precisely what a genuine buyer checks before making you an offer, either by reading the hallmark directly or by testing the item independently if the mark is missing or unclear.
How Can You Spot a Trustworthy Online Gold Buyer?
A trustworthy buyer publishes transparent pricing, uses insured tracked postage, pays within a day or two and has genuine independent reviews and a verifiable business address.
Use the checklist below before choosing a buyer:
- Check for Royal Mail Special Delivery or insured courier options.
- Look for transparent, published pricing.
- Read independent reviews.
- Confirm same-day or next-day payment terms.
- Avoid unsolicited “cash for gold” offers.
Do You Need to Pay Tax on Money From Selling Gold?
Most people who sell scrap gold or personal jewellery do not need to pay tax on the proceeds. Gold jewellery is classed as a personal possession, and tax only becomes a consideration if you sell an item, or a matching set, for more than £6,000.
Sellers disposing of a small number of unused rings, chains, or earrings will typically fall well under this threshold, meaning there is nothing to pay or declare. Where a single item or matching set exceeds this threshold, Capital Gains Tax may become payable. In these situations, the seller should seek advice from HMRC or a qualified accountant before proceeding.
What Should You Do Before You Post Your Gold?
A few simple steps reduce risk and help you secure a fair price. These include:
- Weigh and photograph every item before packaging it, including close-up shots of any hallmarks
- Get at least two or three quotes from different online buyers to compare percentage-of-spot offers
- Keep a written or emailed record of the quoted price and terms
- Use tracked, insured postage and retain proof of dispatch
- Set a personal minimum acceptable price so you are not pressured into accepting a lower final offer after testing.
Final Thoughts
Choosing to sell scrap gold can be a simple process if the price of gold is reasonable, but it requires finding the right buyer. Make sure to learn about the purity and weight of the gold and what you’ll be paid for it. Check if the dealer has any returns policy in place and confirm the hallmarking and testing procedures before posting any gold for sale. Some research and extra effort can help you get a good price for your gold that reflects its actual worth.
