Add price alert

Step-by-Step Guide: How to Sell Gold Bullion Through Tavex

Published by honor in category Tavex News on 28.11.2023
Gold price (XAU-GBP)
1,606.74 GBP/oz
  
+ GBP6.58
Silver price (XAG-GBP)
17.74 GBP/oz
  
+ GBP0.04
how to sell gold bullion

Selling your pre-owned gold and silver can be a straightforward and secure process, especially when dealing with a reputable company like Tavex. This guide will walk you through the steps of selling your gold bullion to a gold bullion dealer, specifically Tavex. Whether by post or in person, this guide will help ensure a smooth and transparent transaction.

Selling Back to Tavex Via Post

1. Preparing Your Parcel

parcel in bubble wrap

When preparing to sell your gold bullion via post, the first step is to ensure its safety during transit. Begin by selecting a sturdy, inconspicuous packaging material that offers both security and discretion.

Wrap your gold bullion, either gold coins or gold bars, in bubble wrap or a similar protective material to prevent scratches or damage. If you have multiple items, wrap each piece individually and ensure they don’t move around inside the package. This careful packaging minimises the risk of damage, ensuring that your gold reaches Tavex in its original condition.

2. Shipping Address

Once your parcel is securely packaged, address it to the following location: Tavex Gold Ltd, Chinaworks, 100 Black Prince Rd, SE1 7SJ, London

Double-check the address for accuracy to prevent any delays or mis-deliveries. Using a reliable courier service that you trust can also add an extra layer of security to the process.

3. Parcel Tracking

Royal Mail

For added security use Royal Mail Signed delivery services. This service provides you with a tracking number, which is essential for monitoring your shipment’s progress. Once your parcel is dispatched, promptly send the parcel tracking number via email to Tavex.

This enables both you and Tavex to track the parcel, significantly reducing the risk of loss and ensuring accountability at every step of the journey.

4. Pricing and Invoice

Upon arrival of your gold bullion, Tavex will assess its condition and market value and calculate the price. They will then send you a proforma invoice reflecting the price offer for your items.

To facilitate this process, it’s crucial to include the proforma form with your shipment.

If you prefer, you can email the necessary details to Tavex when you provide the tracking number. This ensures that all the required information is readily available to Tavex, speeding up the valuation and payment process.

Selling Back to Tavex In Person

gold bullion

1. Scheduling a Visit

If you prefer a face-to-face transaction, you can visit Tavex’s office. To do so, email tavex@tavexbullion.co.uk or call (0)20 4541 4145 to inform them of your preferred consultation time. Or schedule an appointment via the Tavex website.

2. In-Person Transaction

During your visit to Tavex’s office, a representative will assist you through the selling process:

  • Evaluation: Your gold or silver will be assessed for authenticity and value.
  • Discussion: Discuss and agree on the sale terms, including price.
  • Completion: Finalise the sale with necessary paperwork and receive payment.

This option is ideal for significant quantities of gold or silver, allowing for direct evaluation, immediate feedback, and a personal transaction experience.

Price Offers and Requirements

Price Offer

When you choose to sell your gold or silver to Tavex, understanding their pricing strategy is crucial. Tavex maintains a transparent pricing policy, with the gold prices and with buy-back rates readily available on their website. This ensures that sellers are aware of the potential offer before initiating the transaction.

The price for your gold or silver is fixed at the point of receipt.

It’s important to note that if your item does not appear in Tavex’s online catalogue, it will be considered as ‘scrap’.

Despite this classification, Tavex still offers competitive rates:

  • Scrap gold is purchased at 3% below the spot price at the time of receiving.
  • Scrap silver is bought at 10% below the spot price at the time of receiving.

These rates are reflective of market conditions and may fluctuate. Checking Tavex’s website for the most current rates before sending your items is advisable.

Required Information

To ensure compliance with financial regulations and to guarantee the security of the transaction, Tavex requires certain information from the seller, especially for larger transactions.

  • For transactions over £8,000 annually or £5,000 in a single transaction, you are required to provide a government-issued photo ID and a proof of address. This could include a driver’s license, passport, or a recent utility bill.
  • For larger transactions, specifically those exceeding £50,000, additional information may be requested by Tavex. This is a standard practice in the precious metals market to ensure adherence to legal and financial regulations.

Overview

Selling gold bullion to Tavex is a secure and straightforward process. Whether you choose to send your items via post or prefer an in-person visit, Tavex offers a reliable platform for you to sell your precious metals.

Remember to keep track of all necessary documents and information to ensure a smooth transaction. If you have any questions, Tavex’s customer service team is ready to assist you.

Gold price (XAU-GBP)
1,606.74 GBP/oz
  
+ GBP6.58
Silver price (XAG-GBP)
17.74 GBP/oz
  
+ GBP0.04

You might also like to read