You can't switch on the TV or open a newspaper these days without seeing advertisements for companies that wish to buy your scrap gold and old jewelry. In the current economic climate, it's certainly an attractive proposition and gold parties are becoming a very popular way of trading in old jewelry for cash. They say they'll even take your broken jewelry and all of them claim to pay the best prices. So what gives and how much is your jewelry really worth?
The bottom line is many of these companies are buying up gold and silver at rates way-below the bullion value. Without putting too-finer point on it - they are ripping people off. They can get away with it because the recent rises in bullion prices means the amount they offer may exceed the original price you paid for the jewelry, but this doesn't mean what they are offering is a fair price.
To calculate the bullion value of your old or scrap gold and silver, you'll need to know the type of metal and it's weight in grams. You can then use the calculator below to work out it's bullion value. Bear in mind it's highly unlikely that you'll ever be offered the full bullion value for your jewelry, but at least you'll have a better idea of it's true value when they make you an offer. Take a look at our dealers and research page for links to more honest buyers.