Tag: borrow money on jewellery

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A short history of Gold

“The Golden Rule: He who has the gold makes the rules.”

Gold has always been viewed as one of the most precious metals throughout history. 

Gold is the only metal with a distinct golden colour and is also one of the rarest natural minerals.

Did you know that nearly all of the Gold on Earth came from the supernovae and neutron star collisions which resulted in an explosion creating atoms of Gold? Scientists believe that Gold buried itself deep into the Earth’s core during the creation of Earth, and geologists have even found rocks of Gold as old as 4 billion years.

Since Gold was so precious and rare, in around 550 BC, Gold started to be mined and used as a currency in Greece and the Middle East. Gold was used as a currency in many countries before paper money was created. When paper money was introduced, it was called the Gold Standard. The Gold Standard set a fixed price for Gold which determined its value. The paper money was linked directly to the Gold, and countries agreed to convert the paper money into a fixed amount of Gold. 

Still to this day, Gold is one of the world’s most useful and highly valued metals. Even though it is technically a heavy metal, it’s very soft and can be moulded and shaped into jewellery. Gold is also used for Olympic medals and trophies; it can even be used to conduct electricity. 

Today many people, including governments, hold investments in Gold. Buying Gold as an asset can help protect your wealth in the long term and be an excellent addition to your investment portfolio. Gold can never be destroyed and can not be altered or hacked like some investments in the digital world. 

At J Blundells & Sons, we’ve been trading Gold since 1839. We’re a family-run business based in the heart of London’s famous jewellery district, Hatton Garden. If you are interested in buying Gold, we’d love to help you take that first step. 

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How to sell unwanted gold and jewellery

It can be a daunting experience when you are trying to sell your unwanted gold, silver or any precious metal jewellery, so we have compiled a quick list for you to get best and fair price. 

  1. Understand what is your jewellery made of, for example is it gold, platinum, silver or palladium? You can use British hallmarks guide to ascertain metal and carat (fineness). You may use London assay office’s guide for this.
  2. Don’t be afraid of shopping around. It is best practice to call 2 to 3 gold buying shops to ask what they are paying per gram on that day. Precious metals trade live and the price paid changes everyday. Some shops make it easier for the customer by putting prices on their website. Generally, you can trust the shops that make information clear and transparent to you. When calling these shops ask them a few questions, for example “What are you paying for fine gold and 9 carat gold per gram today?” And “Are there any other charges when selling jewellery”
  3. Compare prices with a quick internet search, you can get live gold prices. As a rule of thumb, you should get between 90% to 97% percent of market price.
  4. Carry identity documents, usually shops would ask for a photo ID and proof of address.
  5. Be prepared for good news and bad news, because jewellery is made in different carats (fineness) it is not always easy to identify which carat jewellery is made of, especially for someone who is not in the trade. Also, depending on origin of jewellery, where trademark practices are not as stringent as UK, it may mean that an item has a 22-carat stamp but, instead it’s made of 20 or 21 carat. Or you may think that an item is 9 carat, and it actually is 14 carat or 18 carat, which means you would get more money back. Whichever the case a good gold buyer will talk you through the process of assaying your item. 

When selling jewellery, remember that buyer is only buying the precious metal content and hence would not pay for money invested in ‘making’ of the item or any stones, wires or enamel. 

We buy all precious metals and pay according to London fix. You can check our price on the website. There are no other hidden charges, and we give multiple payment options including same day bank transfers

And if you don’t want to part with your jewellery but need some money, you can always get a secured loan against it. Check out our pawnbroking and buyback services.