So the saying goes, all that glitters is not always gold – but how can you really tell?
In order to secure cash quickly and securely, more often than not consumers are by-passing banks in order to obtain money more easily from peer-to-peer lenders, such as Unbolted. There’s value in gold and in assets made from this desirable metal, such as jewellery, ornaments and coin collections. Subsequently, it is increasingly being used as collateral for loans. Unbolted will see if your assets are quite literally worth their weight in gold, and is happy to consider anything from statement precious jewellery to bullion bars. The question, however, is how to value the gold, because even if it’s hallmarked, all gold assets need testing to determine their carat (as this, in turn, will determine the value).
The traditional method employed by high-street pawn brokers is the acid test. Whilst many people are familiar with the phrase, they might not be quite so familiar with the method used. Essentially, a scratch is made in the gold, before acid is poured into the resulting dent to establish the carat. As this is not an exact science, an acid test will only ever produce an approximation rather than a definitive result – and, of course, this also means that your gold has been irreversibly defaced.
At Unbolted, we pride ourselves on the care and attention we pay to every asset we assume responsibility for. After all, gold doesn’t just have a monetary value – it often holds strong sentimental value too. The way we test your gold is really quite simple – we use a gold analyser gun, as used by assay marking centres. This specialist, state-of-the-art equipment uses x-ray fluorescence to scan your gold, thereby accurately determining its purity – and this means that we can tell its exact carat. Not only is this method much quicker and more reliable than the age-old acid test, it also means that we don’t damage your gold in the process! Plus, as our gun is kept on site, we don’t need to rely on outside bullion centres (as some lenders send your gold away to be tested), so a much quicker process all round.
In terms of the value we offer against your gold, Unbolted gives 80% of the loan value, based on the daily London gold rate. We offer a straightforward way for you to gain cash for your gold, so you don’t need to give it up for good by selling it. So next time you need fast access to finance, don’t sell up – instead, make your gold work for you by releasing its value. Former Prime Minister Gordon Brown may have felt the need to controversially sell over half of the UK’s gold bullion reserves, but that’s no reason to follow suit! We’ll provide you with the capital you need, and you can hold on to your gold. Perhaps gold really can glitter after all….
