Scrap metal describes any gold or silver that is not in the investment form of coins or bars. The most common types of scrap are jewellery, watches and household decor such as silverware; however, gold and silver have a large amount of uses that qualify as scrap metal. Scrap metal is repurposed and converted into investment grade metal by melting the pieces and recasting them as bars or coins.

A carat is used to describe the purity of gold and is measured out of 24. For instance, 18 carat gold is 18 parts gold and 6 parts alloy (usually silver and copper). As we only transact over the gold quantity, lower carat gold carries a lower proportional value. Typically, lower carat gold is used in jewellery and watch bracelets as these items need more durability than 24 carat gold, so the gold is alloyed with stronger metals. At Sharps Pixley we buy any carat of gold and give competitive values based on market rates for each.

First, the metal is tested for its purity using several non-invasive methods including XRF analysis; effectively X-Raying the metal to receive a fluorescent X-Ray response unique to every element. We also use conductivity probes which pass electricity through the metal and measure its resistance. Once the purity of the metal has been established, the object is then weighed on high-precision jeweller’s scales, and a competitive offer based on that day’s market rates is made. The form of the metal does not matter; the value is simply based on the purity and the weight. Please note that we are unable to purchase any gold-plated items.

Official notarised valuations are charged up to £100 for a 60-minute consultation, however there is no charge for scrap metal valuations if you proceed with the sale.

Simply come into Sharps Pixley’s showroom at 54 St James’s Street with the gold or silver to begin the process. Consult with one of our experts who will show you how your metal is valued, and an offer will be made, if you agree, the funds are remitted.

Please note that all sales to us require the following documents:

• Photo ID (passport or driving licence)
• Proof of address dated within the last three months (utility bill or bank statement)

We also request:

• Your bank account details for payment – option to choose £5 ‘faster payment’ (transferred same day), or BACS payment (transferred in 2-3 days) free of charge.
• Telephone number in case we need to contact you

If you are looking to sell a large volume of scrap metal, please contact the team on either +44(0) 20 7871 0532 or email [email protected]

We can pay you either via bank transfer, or cash (up to £8,000 per person during a12 month period). For £5 you can opt for a ‘faster payment’ method that will have the funds in your bank account by the end of the day, or for no fee you may opt to receive the funds via a BACS transfer which takes two to three days to arrive.

Yes, you are strongly encouraged to be in the room with us while we are testing the items.

Many objects contain non-precious metal materials; however, we only transact over the gold or silver component. If the item contains multiple materials, an estimate valuation is provided on the weight of the piece alone and if you decide to proceed, a more accurate valuation is made once the piece has been taken apart. In the case of jewellery or watches, any precious gemstones or movements can be returned to you.

Whilst hallmarking is useful in determining the purity of an object, it is not a necessity. Some gold and silver products simply do not have a hallmark, so it is important that we test all the gold and silver that you may be looking to sell to determine an accurate valuation.

There is no minimum amount that can be sold, but we do reserve the right to charge a £100 transaction fee for any purchases under £2,500.

We base our valuation on the intrinsic metal value, meaning that we only look at the value of the gold or silver and not the rarity or craftsmanship of the items you are looking to sell. A valuation is created based on the live gold price, the weight, and the purity of the item.

The price is calculated on the live gold or silver price. Different purities of gold and silver command different prices, you can view the live prices we pay per gram for different purities via our live price list.

No appointment is necessary for selling your gold or silver, however if you would prefer to book an appointment, please contact [email protected] or call +44(0) 20 7871 0532.

Yes, we do accept broken or damaged jewellery if the items are made from gold or silver.

Yes, selling your silver and gold bullion is a quick and easy process here at Sharps Pixley.

You can sell your bullion coins and bars over the counter at our London showroom, send the metal to us in the post, or have it safely collected from your home address.

We buy gold and silver bullion bars and coins at market leading rates, offering the highest buyback prices from around 99% of the spot market value, assuming the bullion is in good condition. If your coins are not recognised world coins, or Royal Mint coins, we buy them back on the scrap rate. You can view our live price list for gold and silver bars and coins here.

Yes, offers are made and only finalised if you accept the quotation given to you at your appointment. Once you accept the offer you are unable to change your mind as the items and funds will have already been processed.

Due to market conditions and volatility, if your quotation is up to a value of £10,000, we allow 24 hours for a decision to be made. However, if your quotation exceeds £10,000, we ask that a decision is made by 5pm that day.

We aim to provide exceptionally competitive rates for scrap, and we encourage you to familiarise yourself with the market rates for scrap gold and silver before coming in to see us. We are also happy to show you the market rates and where we place in comparison to our competitors.