Precious Metals, Grade Information
Scrap Gold & Silver
Broken chains, damaged rings, odd earrings, and mixed precious metal items, all bought, tested, and fairly priced per gram based on actual gold or silver content.
Periodic Table Position
History & Interesting Facts
The recycling of broken and worn precious metal items is one of the oldest established trades in human history. Roman goldsmiths melted old or broken gold items to produce new jewellery, a practice documented in contemporary accounts. In mediaeval Europe, wandering metal dealers collected old broken silver and gold for re-melting, the ancestor of the modern scrap precious metal trade. The concept of "old gold" dealers became formalised in 18th and 19th century Britain, with established businesses in London, Birmingham, and Sheffield buying unwanted or damaged items by weight. Victorian "gold and silver refiners" advertised in newspapers buying everything from worn jewellery to dental gold. The "cash for gold" industry of the 2000s brought this ancient trade to mass-market attention, though reputable buyers have always offered transparent, assay-based pricing rather than the opaque deals sometimes offered by less reputable operators.
Historical Uses
Broken, damaged, and mismatched precious metal items have served a single consistent purpose throughout history: raw material for re-refining and re-manufacture into new items. Broken gold chains become new chains. Damaged silver spoons become new silver. This circular flow of precious metals has been continuous across civilisations, indeed, many ancient gold artefacts are made from re-melted earlier items, creating a literal archaeological recycling chain stretching back millennia. The concept of scrap gold and silver as a distinct trade category formalised in the 19th century as assay techniques improved and dealers could accurately determine gold content, allowing fair per-gram pricing. The development of acid testing kits allowed even small dealers to distinguish gold alloys from base metal gold-plated items, making the market more transparent.
Current Uses
Mixed scrap gold and silver flows to specialist precious metal refiners, where it is assayed, smelted, and refined back to pure gold (99.99%) and pure silver (99.9%) for re-sale into the bullion market or re-use in jewellery manufacturing. The refinery's process involves collecting mixed batches of scrap precious metals, smelting them together in a crucible to produce a homogeneous melt, casting assay samples, and then refining using chemical or electrolytic processes to separate gold and silver. The refinery pays the seller based on the assayed precious metal content, less refining charges. QuickStop Metals can buy mixed scrap gold and silver at the yard level, with material then forwarded to an approved refiner for settlement. Each seller receives a full report of the assay result confirming the metal content and the price calculated.
Future Possible Uses
The trade in mixed scrap gold and silver will continue as long as gold and silver jewellery, dental work, and decorative items are worn, broken, and replaced. The enormous existing stock of gold and silver items in UK homes and estates, accumulated over generations, ensures a supply of broken and unwanted pieces for the foreseeable future. Improving assay technology (portable XRF units that give results in seconds) and transparent pricing platforms are making the market more accessible and fair for sellers. The growth of online precious metal buying services provides additional competition that has driven up prices paid to sellers over the past decade. As gold and silver prices rise, more individuals are motivated to sell previously overlooked items. Future developments in laboratory-grown precious metal alloys (if they become commercially viable) could eventually affect jewellery market dynamics, but recycled natural gold and silver will remain the foundation of the refining industry.
Where Does This Scrap Come From?
Mixed scrap gold and silver comes from estate clearances, house moves, relationship breakdowns, and financial need. Broken necklace chains and snapped bracelets are extremely common, these are fully recyclable even if uneconomic to repair. Single earrings without their pairs, rings that no longer fit or are out of fashion, and tarnished or damaged silverware are typical items. Dental gold, old crowns, bridges, and inlays removed during dental treatment, is a consistent source and often surprisingly valuable given the high gold content of dental alloys. It is important that items are declared accurately. Silver-plated, gold-plated, gold-filled, and rolled gold items contain very little precious metal and are worth only a fraction of solid sterling or solid gold items. A reputable buyer like QuickStop will always test items before pricing and explain the result clearly.
How Is It Remanufactured?
Mixed scrap gold and silver undergoes a sorting, assay, and refining process at a professional precious metals refinery. Items are first sorted by visual inspection and tested using XRF (X-ray fluorescence) or acid testing to identify gold carat, silver content, and any plated items. Plated items are separated out, they contain insufficient precious metal to process economically with solid items. Solid gold and silver items are smelted together in batches, producing a known alloy whose composition is confirmed by ICP (inductively coupled plasma) spectrometry. The assay result confirms the precise gold and silver content, forming the basis for the settlement calculation. Gold is refined via chlorination or electrolysis to 99.99% fine gold. Silver is refined to 99.9% fine silver. Both are cast into bullion bars or granules and sold at daily LBMA prices. The refiner deducts a charge (typically 3–8% of value) for the service.
5-Year Price Trend & Forecast
The prices paid for mixed scrap gold and silver depend entirely on the actual precious metal content determined by assay, multiplied by the daily LBMA spot price, less refining charges. Over 2021–2026, LBMA gold rose from approximately £1,350 to over £2,800 per troy ounce and LBMA silver from approximately £17 to around £26 per troy ounce. This means the absolute value paid for genuine gold and silver scrap has roughly doubled over this period. For sellers, the best advice is to use a reputable, transparent buyer who provides assay results and clearly explains their pricing calculation. Avoid buyers who offer a "job lot" price without assay, you will almost certainly receive significantly less than fair value. QuickStop Metals offers transparent, assay-based pricing on all precious metal purchases. Gold and silver prices are updated each morning from the LBMA AM fixing.
Note: All scrap yard prices paid by QuickStop Metals are calculated as a percentage of the prevailing LME or spot market price, updated daily. Check today's prices →
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