That drawer full of tangled chains, broken earrings, and rings you’ll never wear again? It could be worth hundreds—or even thousands—of pounds. With precious metal prices at historic highs, there’s never been a better time to turn unwanted jewellery into cash.

This guide explains everything you need to know about selling scrap jewellery in the UK: what your items are worth, how to avoid getting ripped off, and where to find the best prices.

What Counts as “Scrap” Jewellery?

Don’t let the word “scrap” put you off—it simply means jewellery being sold for its metal content rather than as a wearable item. This includes:

Items in any condition:

• Broken chains and bracelets
• Single earrings (the other one lost years ago)
• Rings that no longer fit
• Bent, damaged, or crushed pieces
• Tangled chains you can’t be bothered to untangle
• Out-of-fashion styles you’ll never wear

Perfect jewellery you simply don’t want:

• Inherited pieces that aren’t your taste
• Gifts from ex-partners
• Duplicate items
• Pieces you’ve upgraded from

Other precious metal items:

• Watch cases and straps (not the movement)
• Cufflinks and tie pins
• Dental gold (crowns, bridges, fillings)
• Medal and trophy components
• Gold-framed spectacles
• Religious items

The condition doesn’t matter for scrap value—a crushed ring contains exactly the same gold as a pristine one.

Current Scrap Jewellery Prices in the UK

Prices fluctuate daily with international metal markets. As of January 2026, UK dealers are paying approximately: (for live and current prices use our live calculator).

Gold

Carat	Purity	Price per gram
9ct	37.5%	£35-38
14ct	58.5%	£55-58
18ct	75%	£73-75
22ct	91.6%	£89-92
24ct	99.9%	£100-104

Silver

Purity	Price per gram
925 Sterling	£1.30-1.40
900	£1.25-1.30
800	£1.10-1.15
500	£0.70-0.75

Platinum

Purity	Price per gram
999	£46-48
950	£44-46
900	£42-44

Palladium

Approximately £32-35 per gram for .950 purity.

What this means in real terms:

• A typical 9ct gold wedding band (5g): £175-190
• An 18ct gold chain (15g): £1,095-1,125
• A sterling silver charm bracelet (30g): £39-42
• A platinum engagement ring setting (6g): £276-288

How Scrap Jewellery Prices Are Calculated

Understanding the calculation helps you spot fair offers—and avoid ripoffs.

The formula: Weight (grams) × Purity percentage × Dealer’s rate per gram of pure metal

Example: A 10g 9ct gold bracelet

• Weight: 10g
• Purity: 37.5% (9ct)
• Pure gold content: 10 × 0.375 = 3.75g
• If dealer pays £100/g for pure gold: 3.75 × £100 = £375

In practice, dealers quote rates per gram for each carat, so you simply multiply weight by rate. But understanding the underlying calculation helps you compare offers and spot dealers who are lowballing you.

The dealer’s margin:

No dealer pays 100% of spot price—they need to cover testing, refining, business costs, and profit. Reputable dealers typically pay 85-95% of the metal’s market value. Anyone offering significantly less (or claiming to pay spot price) should be viewed with suspicion.

How to Identify What You Have

Before selling, you need to know what metals and purities you’re dealing with.

Gold Hallmarks

UK gold should carry hallmarks indicating purity:

Hallmark	Carat	Purity
375	9ct	37.5%
585	14ct	58.5%
750	18ct	75%
916	22ct	91.6%
999	24ct	99.9%

Older items (pre-1975) may show the carat number with a crown: e.g., “18” with a crown = 18ct.

Foreign jewellery uses different systems—European items often show the purity in thousandths (750), while American pieces may show “14K” or “18K.”

Silver Hallmarks

Hallmark	Purity
925 (or lion passant)	Sterling (92.5%)
958	Britannia silver
800	European silver
500	50% silver

Platinum Hallmarks

Hallmark	Purity
950 (or orb symbol)	95%
900	90%
850	85%

Older platinum items (pre-1975) may simply be marked “PLAT,” “PT,” or “PLATINUM” without a purity stamp.

No Hallmark?

Don’t worry—reputable dealers have testing equipment to determine metal content accurately. You might receive slightly less while testing is completed, but genuine precious metals will still fetch good prices. We can test your jewellery for you if you would like to send it in or bring it in person .

Testing Methods Dealers Use

• Acid testing: A small scratch is made on a touchstone, and acids of known strength applied. The reaction indicates purity. Accurate but requires a small mark on the item.
• Electronic testing: Uses electrical conductivity to estimate purity. Non-destructive but less precise for borderline cases.
• XRF analysis: X-ray fluorescence provides precise purity readings without damaging the item. The gold standard (pun intended) for professional testing.
• Specific gravity testing: Measures density to determine composition. Non-destructive but requires unmounted items.

What WON’T Sell as Scrap

Some items look valuable but contain little or no precious metal:

Gold-plated jewellery: A thin layer of gold over base metal. The gold content is negligible and uneconomical to recover. Look for stamps like “GP,” “GEP,” “RGP,” “HGE,” or “gold plated.”

Rolled gold / Gold filled: Thicker gold layer than plating, but still a fraction of solid gold. Some dealers now buy this, but expect low per-gram rates.

Silver-plated items: Marked “EPNS” (Electroplated Nickel Silver), “silver plate,” or “Sheffield plate.” Virtually worthless as scrap.

Costume jewellery: Base metals, plastic, glass, and synthetic stones. No precious metal content.

Gold vermeil: Sterling silver with a gold coating. Worth selling for the silver content, but don’t expect gold prices.

White metals that look like platinum: Stainless steel, palladium alloys, and white gold can all appear similar. Testing reveals the truth.

What About Stones?

Scrap jewellery buyers primarily want the metal. Stones are typically handled one of three ways:

Removed and returned: The buyer extracts the stone(s) before weighing and returns them to you. You can then sell valuable stones separately to a specialist.

Included in valuation: Some buyers have expertise in diamonds and gemstones and will factor their value into the offer.

Ignored: For small or low-quality stones, many dealers simply include them with the scrap—they’re not worth separating.

Important considerations:

• Diamonds may be worth selling separately to a specialist dealer
• Coloured gemstones (rubies, sapphires, emeralds) can add significant value
• Costume stones (cubic zirconia, glass, synthetic materials) add nothing
• Pearls are extremely difficult to value without expertise
• Antique or signed pieces may have value beyond their materials

If you suspect your jewellery has significant value beyond the metal (designer pieces, antiques, high-quality stones), consider getting a specialist valuation before scrapping it.

Tips for Getting the Best Price

1. Know Your Stuff Before You Go

Sort your items by metal type and purity. Weigh them using digital scales. Use online calculators to estimate value. This preparation:

• Shows dealers you’re informed
• Helps you spot lowball offers
• Speeds up the transaction

2. Get Multiple Quotes

Rates vary significantly between buyers. Visit or contact at least three dealers before committing. In a jewellery hub like Birmingham’s Jewellery Quarter, you can compare offers within a short walk.

3. Understand What You’re Being Offered

Ask dealers to explain their calculation:

• What purity are they testing your items as?
• What’s their per-gram rate for that purity?
• Are there any deductions for testing, refining, or processing?

Reputable dealers are transparent. Vague or evasive answers are red flags.

4. Sell In Person When Possible

Face-to-face transactions let you:

• Watch testing and weighing
• Ask questions
• Negotiate
• Receive immediate payment
• Walk away if unhappy

5. Avoid “Free Envelope” Postal Services

Those heavily advertised mail-in services consistently pay the lowest rates in the market. Their business model relies on convenience and customer ignorance. Research shows they typically pay 30-50% less than specialist dealers.

6. Be Realistic About Sentimental Value

Your grandmother’s ring may mean the world to you, but the dealer is buying metal by weight. Sentimental value doesn’t translate to monetary value. If you’re not ready to part with something, don’t sell it.

7. Don’t Clean Your Jewellery

Tarnish and dirt don’t affect metal content. Cleaning can damage hallmarks, remove plating (revealing base metal underneath), or scratch surfaces. Sell items as they are.

8. Bring Identification

UK anti-money laundering regulations require dealers to verify your identity. Bring a valid passport or driving licence.

Where to Sell Scrap Jewellery

Specialist Precious Metals Dealers

The best rates typically come from businesses focused exclusively on buying and refining precious metals. They have:

• Expert testing equipment
• Direct relationships with refineries
• Competitive, weight-based pricing
• Lower overheads than high street shops

Jewellery Quarter Dealers

Birmingham’s Jewellery Quarter and London’s Hatton Garden are traditional centres for the precious metals trade. The concentration of specialist buyers means competitive rates and genuine expertise. We have shops in both locations.

High Street Jewellers

Some jewellery shops buy scrap alongside their retail business. Rates can be competitive, especially for items with potential resale value. However, many prioritise their retail business and offer lower scrap rates.

Pawnbrokers

Pawnbrokers primarily lend money against collateral—outright purchase is secondary to their business. Expect lower rates than specialist scrap dealers.

Online Postal Services

Convenient but typically poor value. If you must use postal services, choose established bullion dealers (like BullionByPost) over heavily-advertised “cash for gold” companies.

Places to Avoid

• Market stalls and pop-ups: No accountability, often poor rates.
• Door-to-door buyers: Pressure tactics and below-market offers.
• “Gold parties”: Social pressure combined with low prices.
• Unestablished online buyers: Risk of fraud or non-payment.

Red Flags When Selling

Watch out for these warning signs:

• No visible weighing: You should see your items weighed on calibrated scales.
• Vague pricing: “We’ll give you a good price” without specifics.
• Pressure tactics: “This offer expires today” or “I’m doing you a favour.”
• No explanation of testing: Reputable dealers explain how they determined purity.
• Dramatically different quotes: If one offer is vastly lower than others, that dealer is trying to exploit you.
• No ID requirements: Legitimate dealers must verify identity under AML regulations.
• Requests to leave items: Never leave jewellery with a dealer for “assessment” unless you’re certain of their reputation.
• Only quoting spot price: No dealer actually pays spot—if they claim to, they’re hiding their real rates.

What to Expect During the Transaction

1. Sorting The dealer separates your items by metal type and tests or verifies purity.

2. Testing Hallmarked items are verified; unhallmarked pieces are tested using acid, electronic, or XRF methods.

3. Weighing Items are weighed by purity category on precision scales. You should be able to see the display.

4. Calculation The dealer calculates the offer based on weight and their per-gram rates.

5. Explanation A good dealer explains the calculation clearly and answers questions.

6. Decision You accept, negotiate, or decline. There’s no obligation to sell.

7. Paperwork If you accept, you’ll complete documentation and ID verification.

8. Payment Most dealers offer cash, instant bank transfer, or cheque.

The entire process typically takes 15-30 minutes for a straightforward transaction.

Selling Scrap Jewellery in Birmingham

Birmingham’s Jewellery Quarter has been at the heart of Britain’s precious metals trade for over 250 years. Home to the Birmingham Assay Office—one of four UK offices authorised to hallmark precious metals—the Quarter offers:

Genuine expertise: Generations of knowledge in precious metals.

Competition: Multiple specialist dealers within walking distance.

Accountability: Established businesses with reputations to protect.

Immediate payment: Sell face-to-face and walk away with cash.

At SMP Bullion and Diamonds, we buy all types of scrap jewellery—gold, silver, platinum, and palladium in any condition. Located in Birmingham’s Jewellery Quarter, we offer transparent valuations based on live market prices, with same-day payment and no obligation to sell.

Frequently Asked Questions

Is now a good time to sell?

Gold and silver prices have reached historic highs and remain strong into 2026. While no one can predict future prices, current rates are exceptionally favourable for sellers. If you have unwanted jewellery, there’s no guarantee prices will be higher later.

Can I sell damaged or broken jewellery?

Absolutely. Broken chains, bent rings, single earrings, crushed pieces—all contain the same precious metal as perfect items. Condition is irrelevant for scrap value.

Do I need to separate gold from silver?

It helps but isn’t essential. Dealers will sort and test everything. However, arriving with items already organised shows you’re informed and speeds up the process.

What if my jewellery isn’t hallmarked?

No problem. Dealers have testing equipment to determine metal content. You’ll receive payment based on the verified purity, not what you think it might be.

Should I remove stones before selling?

For valuable diamonds or gemstones, consider selling them separately to a specialist. For small or costume stones, leave them—the dealer will either include them or remove and return them.

How quickly will I be paid?

For in-person sales, payment is typically immediate—cash, bank transfer, or cheque. For postal sales, most reputable dealers pay within 1-3 business days of receiving your items.

Can I sell just a few items?

Yes. While larger quantities may attract marginally better rates, reputable dealers have no minimum. Even a single ring is worth selling if you no longer want it.

What about designer or branded jewellery?

Designer pieces (Tiffany, Cartier, etc.) may have value beyond their metal content. If you suspect significant brand value, consider specialist resale before scrapping. However, most everyday branded jewellery sells at scrap value.

Do dealers buy white gold?

Yes. White gold is simply yellow gold alloyed with white metals to change its colour. An 18ct white gold ring contains exactly the same pure gold as an 18ct yellow gold ring and is worth the same.

What about rose gold?

Same principle—rose gold’s pink colour comes from higher copper content in the alloy, but the gold content depends on the carat, not the colour.

Ready to Sell Your Scrap Jewellery?

If you have unwanted gold, silver, or platinum jewellery in Birmingham, SMP Bullion and Diamonds offers competitive rates based on live market prices. Visit us in the Jewellery Quarter for a free, no-obligation valuation.

We buy:

• All gold carats (9ct, 14ct, 18ct, 22ct, 24ct)
• Sterling and other silver purities
• Platinum jewellery
• Palladium items
• Broken, damaged, or perfect condition
• Hallmarked and unhallmarked pieces

Visit us today—no appointment necessary.

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