UK Silver Exchange specialise in buying and selling silver, whether it be in the form of bullion, antiques or scrap metal.

Call us today +44 (0)1594 546328

Gold

We are keen to buy gold and our gold prices are very competitive to the prices offered by other bullion dealers. We are always happy to accept gold independently or as part of a consignment of silver.

gold

Our gold prices are based on the current market spot price and twice daily London fixes. We pay according to weight and carat for hallmarked gold. We especially seek large pieces such as goblets, cigarette and vesta cases.

We appreciate that people may wish to stay loyal to their existing bullion dealer where preferential rates may be given for their scrap gold, however we would urge you to look at your silver pay out rates. Most bullion dealers will attract trade clients by offering very high gold prices, but much weaker silver prices. We suggest that dealers and retailers split their scrap metal parcels and achieve the best available prices for both – otherwise you could be losing as much as £1/oz for your scrap silver and this will quickly add up!

[Most Recent Quotes from www.kitco.com]        [Most Recent Quotes from www.kitco.com]

Services

We offer the same services for gold as we do for silver: metal accounts, prompt payment and XRF testing for unmarked gold. One of our most important services is our Melt & Assay facility.

Melt & Assay

For consignments of gold with contaminants, rolled gold and gold plate, we offer a Melt & Assay service. Each batch will be independently refined to reveal the exact quantity of fine gold. This service is available for gross batch weights of 2kg and above. Batches below this weight will be XRF tested and an offer made.

Platinum Group Metals

In addition to silver and gold, we buy all other precious metals including platinum, palladium, rhodium etc. Please contact us for further information.

Free Online Quote

Buying Price -

We can provide instant quotes for your silver based on the current spot or fix prices, but these are subject to change according to variations in the market.

Silver received in the post will be priced according to the advertised website quote at the time of receipt. If you would prefer not to sell at that particular price, you must inform us before 10.45AM. Your items will then be kept until we are informed to sell (see stow away service).

Silver brought in by hand before 2PM will be priced according to the advertised current website prices.

Our highest prices are based on the LBMA midday silver fix and are only applicable for quantities in excess of 500 tr.oz. (15kg). These prices are tiered for levels of 500oz+ (15kg), 1000oz+ (31kg) and 3200oz+ (100kg). These higher rates are available to clients who either have metal account facilities with us or have delivered the silver in advance. The silver must be sold before 10.45AM and will be based upon the next midday fix.

VAT -

If you are a VAT registered business then it makes sense to sell the silver as a metal. We pay out the full rate of 20% on top of the net value. In order to do this we require some form of suitable proof and a valid VAT number. The VAT should be declared in the same manner as any other full VAT sale.

Perversely, for antique dealers on the margin or global accounting VAT schemes, it is actually beneficial to sell metal rather than an article. If sold as a metal you will receive the entire sold value of the item and declare the VAT in your returns. If sold as an article, you would pay VAT on your profit and therefore actually receive less gross profit! So unfortunately there is a financial inducement for silver dealers to scrap, rather than deal in articles.

If you are a member of the public or a non VAT registered business, then we will pay out the net amount without the extra VAT.

Payment Terms +

For quantities less than 100 troy ounces (3100grams) we generally pay out by return. For quantities over 100 troy ounces, we will make payment within 3 working days.

We will pay by cheque, unless an electronic bank transfer is preferred. For the former, please provide payee name and address. For the latter, please provide your address details and bank account details (sort code and account number).

New legislation is passing through the House of Commons to make it illegal to buy scrap metal for cash and without documentation. We are strong advocates of this new legislation and are therefore ready for it's introduction - we do not pay by cash and provide pay out sheets with all sales.

Metal Account +

Metal account facilities are available for regular clients. Silver can be sold from this account at any time during normal working hours. An account can be topped up with fresh metal deliveries by appointment and sold when the price is right. Account holders will receive regular statements and have the ability to forward sell.

Forward Selling +

Regular clients can forward sell in anticipation of the next fix before 10.45AM. This is a binding contract and if the silver is not in an existing metal account, then the silver must be received within three to five days depending upon quantity. Forward selling in excess of 3200oz (100kg) must be received within 24 hours.

Stow Away Services +

As an alternative to a metal account we offer our unique and popular Stow Away service. This service will safeguard you against a sudden overnight drop in price. If you have posted goods to us and there is an overnight drop in price you can phone/email us before 10.45am and ask us to hold off selling. We store your silver in a temporary metal account until such a time that the price is right for you. All you then need to do, is phone/email us before 10.45am on the day you wish to sell.

The Stow Away Service is only available to trade clients for quantities in excess of 100tr.oz or 3kg.