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Selling investment-grade gold in the UK - Gold Sovereigns, Britannias, standard bars from recognised refineries - typically returns 97–99% of the current spot price. The process is straightforward: get quotes from two or three dealers, ship by insured Royal Mail Special Delivery or walk in, and receive payment within 24–72 hours of the dealer receiving the metal.
This guide covers the process step by step, explains how to get the best price, and identifies where sellers lose money unnecessarily.
At a glance: what to expect
| Product | Expected return vs spot | Turnaround after receipt |
|---|---|---|
| Gold Sovereign (standard date) | 97–99% | 24–48 hours |
| Gold Britannia (1oz) | 97–99% | 24–48 hours |
| Pre-2013 Britannia (22ct) | 97–99% (based on gold content) | 24–48 hours |
| 1oz gold bar (PAMP, Heraeus, Royal Mint) | 97–99% | 24–48 hours |
| 100g gold bar | 98–99% | 24–48 hours |
| 1kg gold bar | 99%+ | 24–48 hours |
| Unknown or unrecognised refinery bar | 95–98% | May require extra verification |
| Scrap gold / jewellery | 60–80% | Different market entirely |
The difference between bullion and scrap
This is the most important distinction for sellers. Two different markets exist:
Bullion buyers (dealers like BullionByPost, Atkinsons, Royal Mint, Chards, Sharps Pixley) - buy investment-grade gold at 97–99% of spot. They deal in coins, bars, and other investment products. They verify authenticity, reprice, and resell to the next investor.
Scrap gold buyers (jewellers, pawnbrokers, cash-for-gold shops, postal gold buyers targeting consumers) - buy gold for its metal content at significantly lower prices, typically 60–80% of spot. They deal in jewellery, odd coins, and mixed-purity items. The processing cost and uncertainty about purity justify the lower prices.
Selling a Gold Sovereign to a scrap buyer is leaving 20–30% of its value on the table. Investment gold should always go to investment gold dealers.
Step 1: Check current prices
Before contacting dealers, check the live gold spot price in GBP - MetalsAlpha’s gold price page shows the current spot, and most dealer buyback pages display live prices alongside their offer.
A dealer quoting 97% of spot when spot is £3,800/oz should pay approximately £3,686 per 1oz Britannia.
Step 2: Get two or three quotes
The main UK bullion dealers all publish live buyback prices on their websites:
- BullionByPost - high volume, competitive prices, fast postal service
- The Royal Mint - reliable, slightly lower buyback percentage but well-known brand
- Atkinsons Bullion - particularly strong on pre-owned Sovereigns
- Chards - established dealer, good for larger quantities and in-person sales
- Sharps Pixley - London-based, good for walk-in or larger institutional sales
- Hatton Garden Metals - London walk-in option
Comparing two or three dealers before committing takes five minutes and typically identifies a 0.5–1% difference. On £10,000 of gold, that is £50–£100. See the full best UK gold dealers ranking for buyback comparison. Selling silver? See how to sell silver in the UK — the process and economics differ.
Step 3: Postal or in-person?
Postal selling is the standard for most retail transactions. The process:
- Complete the dealer’s online quote or selling form
- Package coins or bars securely - most dealers recommend a padded envelope, not a box (to avoid obvious shapes visible under X-ray at sorting offices)
- Send by Royal Mail Special Delivery, insured to the full value of the metal
- The dealer receives, verifies, and confirms weight and authenticity
- Payment is made by bank transfer within 24–48 hours of receipt
Royal Mail Special Delivery provides up to £2,500 of cover as standard. For higher values, declare the additional value at the post office and pay the supplementary premium - typically 1% of declared value above £2,500.
In-person selling is available at dealers with physical premises (Chards, Sharps Pixley, Hatton Garden Metals, Atkinsons). You receive payment on the day, typically by bank transfer (cash payments are limited by AML regulations). Useful for large holdings or if you prefer not to ship.
Step 4: Verification and payment
On receiving your metal, the dealer will:
- Verify authenticity (XRF testing, weight check)
- Confirm quantity against your selling form
- Agree a final price (usually confirmed before you send, locked at the price prevailing at receipt in some cases)
- Pay by bank transfer
Most dealers pay within 24 hours of verification. If there is any discrepancy - a coin or bar that cannot be verified - the dealer will contact you before making any adjustment.
What reduces your sale price
Unrecognised refinery bars - bars from unfamiliar refineries may receive a small discount (1–2%) because dealers face additional verification effort and have lower confidence on resale. PAMP, Heraeus, Argor, Baird, Royal Mint, and Umicore bars avoid this.
Coins outside the assay card - bars in opened or damaged assay cards sell at standard prices, but some dealers may note it. The gold content is unaffected; the packaging is cosmetic.
Very small quantities - some dealers have minimum sale amounts (typically £250–£500). Very small quantities may receive slightly less favourable prices because the handling cost is fixed regardless of sale value.
Rush timing - if the gold price is falling rapidly on the day you sell, the price you receive reflects the live rate at time of settlement. No dealer carries open price risk for you.
Tax: CGT on sale
Gold Sovereigns and Britannias: No CGT, regardless of gain size. No reporting required.
Gold bars and foreign coins: CGT at 18% (basic rate) or 24% (higher rate) on gains above the annual exempt amount (£3,000 in 2026/27). You must report via Self Assessment if your total taxable gains exceed the exempt amount or if total disposal proceeds exceed four times the exempt amount.
Keep your purchase records (dates, quantities, prices paid) to calculate your gain accurately. Dealer receipts from original purchase are sufficient documentation.
How people usually decide
Most sellers with straightforward investment-grade holdings (recent-year Sovereigns, Britannias, standard PAMP or Royal Mint bars) get two quotes, send to the highest via Special Delivery, and receive payment within 48 hours. The process is genuinely simple once you know the channel.
The main mistake is using the wrong market - scrap buyers, jewellers, or general second-hand platforms. These are not the right buyers for investment gold.
Frequently asked questions
How much will I get for a Gold Sovereign? At current gold prices (approximately £3,800/oz), most UK dealers will pay £880–£935 for a Full Sovereign - approximately 97–99% of the Sovereign’s melt value of approximately £894.
How do I sell gold coins by post safely? Wrap coins individually in tissue or bubble wrap, place in a padded envelope (not a box), and send by Royal Mail Special Delivery insured for the full value. Do not mention gold on the outside of the package.
Can I sell old or pre-1900 Sovereigns? Yes. Pre-1900 Sovereigns in standard grades are typically bought at bullion price by most dealers. If they are in exceptional condition or unusual dates, a numismatic specialist (like Chards or DNW Auctions) may pay above bullion price.
Do I need to prove where I bought the gold? Not typically for small sales. For larger amounts, dealers may ask for purchase documentation as part of their AML obligations. Receipts from your original purchase are useful to keep.