As the recession continues to impact upon the UK the matter of recycling gold is one which is cropping up more and more as people become more desperate for cash. There are now many companies who will literally buy your gold jewellery off you and then melt them down so that the gold can be sold on at a profit. It is the fact that the price of gold continues to move higher and higher which has attracted more and more people to gold recycling although for many people it is a necessity rather than an option - as unemployment continues to rise and funds become scarce.
However, when looking to recycle your old jewellery, whether gold or silver, you need to be aware of the going rate for the metals and ultimately you need to get the best price for yourself. There are many unscrupulous companies out there who will offer you a rock bottom price for your jewellery which they will then meltdown and sell on for significant profit. The value of your gold and silver is simple, the weight of the metal times by the value per ounce. It is not rocket science, it is not difficult but ultimately you need to be aware of what you could expect and also the profit margin for companies in this particular sector.