How to Sell Gold in the UK: A Complete Process

If you're wondering how to sell gold in the UK, the first question shouldn't be "Who will buy it?" but "What exactly do I have?" A gold coin might be worth considerably more than its metal content, while jewellery, bars and scrap can each be valued in very different ways.

Selling well starts with understanding what you're holding. By identifying your gold, checking how buyers calculate their offers and knowing what to expect before handing it over, you can approach the sale with much greater confidence.

This guide covers how to sell gold in the UK step by step, including the differences between selling it by post and in person, the records to keep, and the UK tax considerations that may apply.

1. Identify and document your gold

Start by separating your gold into categories. A standard bullion bar should not necessarily be valued in the same way as a rare coin or a piece of jewellery. Create a list of:

• Gold bars
• Standard bullion coins
• Collector, proof or rare coins
• Jewellery
• Watches containing gold
• Dental gold
• Mixed or broken scrap

For each item, record the visible weight, fineness, hallmark, refiner, serial, coin date, grade and packaging. Keep invoices, assay cards, grading records and previous valuations if you have them.

Photograph both sides of each item, along with any marks and packaging, before further handling. Place standard bullion coins and bars in one group for metal-market quotes. Keep proof, graded, rare-date and unusual coins apart for specialist review.

A careful sort prevents a buyer from valuing every item through the cheapest route.

2. Estimate how much your gold may be worth

An initial calculation can give you a useful baseline before you approach buyers. Convert weight into grams or troy ounces and apply fineness to estimate pure-gold content. Multiply fine-gold content by a current reference price in the same unit and currency.

This is only a starting point. The amount a buyer offers can also depend on the product, condition, rarity, provenance, testing requirements, market conditions, the buyer's costs and demand.

3. Choose the right buyer

The right buyer depends on what you're selling.

Bullion bars and standard coins

Match standard bullion with dealers that publish coin and bar buy prices. Take rare, proof or high-grade coins to buyers who understand their collector market.

The buyer with the highest advertised percentage may not produce the highest net payment. A bullion dealer can identify recognised bars and coins and quote against live gold and current stock demand.

Ask whether the dealer pays a product premium for Britannias, Sovereigns, sealed bars or quantity. Compare the published buyback method with the written quote for your items.

Collector and graded coins

Rare, proof, unusual or professionally graded coins should be assessed by a dealer who understands the collector market. Don't assume that a coin's value is limited to its gold content.

A coin specialist can attribute date, mint, variety, proof status and grade before pricing, and these can all affect an offer. An auction can expose a scarce coin to collectors but adds fees, time and an uncertain result.

Jewellery and scrap

A jewellery buyer may offer for design, brand, stones or second-hand demand.

A scrap buyer focuses on recoverable metal after testing and non-gold deductions. Do not allow destructive testing or dismantling until the process and return terms are agreed.

Private sales and auctions

A private sale can avoid a dealer spread but transfers authentication, payment and safety risks to both parties. Do not meet an unknown buyer at home or disclose where other valuables are stored.

Consider whether the extra expected price justifies personal risk, delay and dispute exposure.

Check the buyer

Check the company's legal name, registration, trading address, website domain and contact details. Compare payment instructions with the verified entity and question a last-minute account change.

Walk away from pressure, secrecy, remote-access requests or promises that cannot be written down. A legitimate buyer may request photo identification, address evidence and ownership information.

4. Compare written gold quotes

Give each buyer the same information:

• Item description
• Weight
• Fineness
• Photographs
• Condition
• Relevant certificates or grading information
• Packaging and provenance, where relevant

Ask for a written quote and study exactly what it includes. A buyer may quote:

• Pounds per gram
• A percentage of the spot price
• A fixed amount for each item
• A total cash offer

Convert the offers into the same format before comparing them.

The highest headline price is not necessarily the highest net price.

5. Decide whether to sell by post or in person

Selling gold in the UK can be done by post or in person. Either approach can work, and deciding which is better depends on the buyer, the value and type of gold and the terms offered.

Selling gold by post

Before sending valuable items, confirm the following:

• Whether the buyer accepts gold by post
• The packaging requirements
• The delivery method
• Who arranges and pays for delivery
• The insurance limit
• What the insurance covers and excludes
• When responsibility for the item transfers
• What happens if the buyer's inspection changes the offer
• What happens if you reject the buyer's final offer

Take clear photographs of the items and their packaging before sending them. Keep the weight record, tracking number, proof of delivery and all correspondence until the sale is complete.

Don't assume that standard postal insurance covers precious metals. Check the carrier's current terms and the buyer's instructions before posting anything.

Selling gold in person

An in-person appointment lets you take your items directly to the buyer for assessment. Before attending, confirm what identification and documentation you need to bring and whether an appointment is required.

Ask how the items will be weighed, tested and valued. Review the offer before deciding whether to proceed. You should understand the price and any deductions before finalising the sale.

6. Confirm the price and selling terms

Gold prices can move between the time you request a quote and when your items are inspected. Find out when your price becomes fixed. The price can be fixed at booking, arrival, completion of testing or seller acceptance. A later fixing leaves the seller exposed to market movement while the buyer holds the gold. Keep the written price confirmation with its time, reference and item list.

Keep coins in capsules, bars in assay packaging and graded coins in their holders. Do not polish, clean, file or acid-test items before specialist review.

Remove personal documents from boxes unless they form necessary provenance.

Also confirm:

• The testing method
• Any deductions
• The final price calculation
• Payment method and timing
• Return arrangements if you reject the offer
• Who bears the risk while the gold is being transported or inspected

7. Have your gold inspected

The buyer may check the weight, fineness, authenticity, condition and other characteristics of your items before making or confirming a final offer.

An initial estimate is therefore not the same as the final price. If the offer changes after inspection, ask the buyer to explain:

• What was different from the original information
• How that difference affected the valuation
• What deductions or adjustments were made
• What final amount you will receive

You don't have to accept an offer because the buyer has inspected your gold. Make sure you understand the revised calculation before accepting.

8. Accept the offer and receive payment

Before completing the transaction, confirm:

• The final sale amount
• How and when you will be paid
• Account name and payment details
• Any fees or deductions
• The documentation you will receive

9. Important records to keep

Keep records of all transaction details, including:

• Original invoices
• Acquisition dates and prices
• Item descriptions
• Photographs
• Weights and fineness
• Certificates and assay cards
• Valuations
• Written quotes
• Testing results
• Fees and deductions
• Final sale statements
• Delivery and tracking records
• Payment confirmation

These documents may be relevant when establishing whether a tax liability arises.

10. Capital Gains Tax when selling gold

Selling gold in the UK doesn't automatically mean that you owe Capital Gains Tax (CGT). The tax treatment depends on the type of gold or other asset, how it is classified and your individual circumstances.

Certain UK sterling legal-tender coins, including qualifying Sovereigns and Britannias, have specific CGT treatment. Other gold coins, bars and jewellery may be treated differently.

HMRC's rules for personal possessions can apply to jewellery and non-sterling coins, with special rules where an individual possession is sold for more than £6,000. If you're unsure whether CGT applies to your gold, check the latest HMRC guidance or seek professional tax advice.

Avoid expensive selling mistakes

Start with How Much Can I Sell My Gold For? to build the valuation baseline, and read Certified and Graded Coins before selling an encapsulated coin.