Selling Gold in the UK

Bullion coins and bars sell back for close to the gold price in the UK: the Royal Mint pays 98% of its bid for gold held in its vault and 96% of the live price for gold held elsewhere, and dealers such as BullionByPost quote 96%. Jewellery and scrap are a different market: in past Trading Standards tests some postal and high-street buyers offered a quarter of the value or less, so compare offers carefully. The scrap-metal cash ban doesn't apply to gold, but most buyers now pay by bank transfer. Gold sovereigns and Britannias are free of Capital Gains Tax.

Facts checked 26 October 2026

Gold, £ per troy ounce

£3,004

International price, live

Where to sell

The Royal Mint buys back gold, silver and platinum bullion coins and bars, including other mints' products; you post them tracked or hand them to an approved partner, they're assayed and the money goes into your Royal Mint account. It doesn't mention jewellery.
Bullion dealers such as BullionByPost buy coins, bars and hallmarked scrap jewellery (not unhallmarked items, plate or watches), sent by Special Delivery and paid by bank transfer within three working days of testing.
Jewellers, pawnbrokers and postal "cash for gold" firms buy jewellery: get several quotes.

What you'll be paid

Royal Mint: gold in its vault at 98% of its bid; gold held elsewhere at 96% of the LBMA price; silver at 90% (96% from the vault).
BullionByPost: 96% of spot for coins and bars; proof coins with box and certificate can fetch more.
Jewellery: paid as scrap gold. In 2011 the OFT acted against five postal buyers after complaints (one Trading Standards officer said some customers got about 10% of the value); in a 2010 test some offers were about a quarter of the assessed value, and refusing the first offer often brought a much higher one.

Cash, ID and tax

No scrap-metal cash ban for gold: the Scrap Metal Dealers Act 2013 excludes gold, silver and alloys with 2% or more of either.
High value dealers: a business that pays or accepts €10,000 or more in cash, including linked payments, must register with HMRC under the money-laundering rules; expect ID checks.
Tax: sovereigns and Britannias are exempt from CGT; other gold may be taxed at 18% or 24% above the £3,000 allowance: see tax on selling gold in the UK.

Before you sell jewellery by post

Work out the melt value with the gold sell-back calculator (choose GBP).
Check whether the buyer sends a quote you must accept, or pays automatically; choose the quote option.
Check it lists the weight and carat of each item and returns stones.
Send by Special Delivery, and refuse low first offers: you can ask for the items back.

Selling gold in other countries: India · UAE · Pakistan · Saudi Arabia · United States · Canada · Australia · all countries

Selling Gold in the United Kingdom: FAQ

How much does the Royal Mint pay for gold?

For bullion coins and bars, 98% of its gold bid price if held in its vault and 96% of the live LBMA price if held elsewhere (silver: 90%, or 96% from the vault). It buys other mints' bullion too, after assay.

Can I sell gold for cash in the UK?

Yes: the Scrap Metal Dealers Act cash ban doesn't apply to gold or silver. But many buyers now pay only by bank transfer, and businesses taking or paying €10,000 or more in cash must be registered with HMRC and check ID.

Are postal cash-for-gold companies safe?

Some have paid very little: the OFT took action against five firms in 2011. Choose a buyer that quotes per item (weight and carat) and lets you accept or refuse, and compare with a jeweller or bullion dealer.

Sources (8)

General information, checked October 2026. Rules, limits and terms change; check with the provider, insurer or authority before you rely on them. Not financial, legal or tax advice.