Frequently Asked Questions

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I Would Like to Host a Gold Party. What Do I Do?

If you are ready to have fun and make great money at the same time, give us a call to book your party today at our central London office on 0808 225 GOLD (4653) or email us at info@ounces2pounds.com. We will explain how a party works and get you on your way to hosting your very own “Party of Pure Gold “!

Why Host a Gold Party?

You have the opportunity to sell some of your own old jewellery or scrap gold that is collecting dust while at the same time hosting a party for friends. Your friends will come to your house for a party and walk out with extra cash in their pocket. We help with the cost of the party and you get 10% of what we buy. What could be better?!?

How Much Work is Involved in Hosting a Gold Party?

Ounces to Pounds provides you with the invitations in PDF format and you just need to send them out to your friends via e-mail. The host/hostess has 100% discretion on the choice of food and/or drink for your gold party as well as any theme you might want to have for the party. If the party is big enough, Ounces to Pounds will even contribute £35 toward drink and food. We have previously hosted successful tea parties, wine tastings and themed parties. The choice is yours.

How Many People do I Need to Have a Successful Party?

The best results typically have come from parties between 10 and 20 people in size. We measure success by the amount of gold that is purchased by us during a party. If your friends have a lot of gold to sell, then your commission cheque will be much larger. Also, keep in mind, the 3% commissions you earn off the residual parties becomes much larger when you have more people booking gold parties after they attend yours.

How Long Does the Average Gold Party Last?

Each guest typically takes between 10 and 20 minutes to sort through their gold, test, weigh and be paid so the average party lasts between 2 and 3 hours. If you and your guests are having a great time, you can continue the party for as long as you want. Once we have met with each of your guests and completed our purchases, your Ounces to Pounds representative will simply close up her equipment, write you a cheque for your commissions and leave, allowing you and your friends to continue your fun.

What If Someone Can Not Attend My Party?

If your party is scheduled for a date that is inconvenient for a guest, we will be more than happy to arrange a private meeting with that individual to assay and weigh their jewellery at our offices in Central London. We will go through the same process that they would have gone through at your party and you will still receive your 10% commission. In some, limited, cases, we are able to allow your guests to give you, (the host), their scrap gold and we will write the cheque to you and you can then settle up with your friend.

Private Appointments?

If you have gold that you or your friends wish to sell but are unable to host a party at your home you can contact us to make a private appointment to have your gold purchased at our offices. Please call 0207 745 6268 or email info@ounces2pounds.com to make a private appointment. You will still make great prices for your own gold and commission on any scrap gold that you bring on behalf of your friends.

Are There Any Incentives For Encouraging My Guests To Book Their Own Gold Party?

Absolutely!! Any party booked by a guest of your party will make money for you. Ounces to Pounds will pay you 3% commission on any party hosted by a guest of your party or referred to us by you directly.

How Much Does Ounces to Pounds Pay For Gold?

There are many factors that affect the amount you receive for your gold. Specifically, the most current “spot price” (London Fix Price), the physical weight of your gold and karat. Prior to your gold party, we will be happy to provide you with an average price per gram based on the market during the previous few weeks. This will generally be a good indicator of the prices to be paid at your party, but the specific prices will not be known until the day of the party, due to daily changes in the market for gold.

Do You Accept Jewellery That Has Stones In it?

Ounces to Pounds do accept pieces with stones. Unfortunately, we only buy gold, silver and platinum, and end up having to deduct the weight for a stone. Our representatives can sometimes remove the stones in your presence (subject to the owner signing a “release of liability” form), but we can not guarantee against damage so if you desire a stone for a specific reason, we recommend you have a professional jeweller remove the stone before selling your gold to us.

What if I Am Not Sure if Some Of My Jewellery is Real Gold?

We test and weigh everything in front of you. Bring your jewellery and we will help you make a determination of its value. We want everyone to be completely satisfied with the process so our representatives are there to help you determine the true value, based on gold content. Some true gold may have color variations that will surprise you. On the other hand, some gold plated jewellery is done so well that you might think it is real when it actually turns out not to be. Either way, our trained experts will help you figure out the value of your gold.

What Happens to My Gold After Ounces to Pounds Buys it?

It is standard policy for Ounces to Pounds to hold your gold for a short period of time, depending on local laws, regulations and rules. Upon completion of the holding period, your gold will be melted down, all precious metals will be reclaimed and the jewellery will be refined into pure gold.

What is Karat?

Karat (abbreviated Kt) is a measure of the quantity of gold in a piece of jewellery, or its fineness. 24 karat gold is pure gold and 12 karat gold contains approximately 50% gold mixed with other alloy metals (typically silver, copper, nickel, zinc, tin and manganese, depending on the color).

What is “Spot Price”?

Spot price is the most current price of gold being sold in the commodities markets. Ounces to Pounds use the most current bid price quote from the well known metals trading site www.kitco.com.

How Will I be Paid?

For your safety and comfort, Ounces to Pounds pays for gold by cheque issued by Barclays Bank. You benefit by receiving your payment for your precious metals immediately upon accepting our offer to purchase your jewellery.

Do I Need to Provide Any Form of Identification For Myself and My Guests?

We will require you as the host/hostess to provide us your National Insurance number and also request your guests to provide a form of identification (such as drivers license, current utility bill, passport) to protect the community against illegal sale and purchase of stolen goods. .

Can I only Host a Gold Party in my Home?

Absolutely not! – We have organized many successful gold parties with the owners of hairdressing salons, health clubs, golf clubs, pubs and clubs! – Hosting a Gold Party is a great way to get your customers coming back for repeat business and in these uncertain economic times, everyone wins!

Do Ounces to Pounds Work with Charity Organisations?

Ounces to Pounds are already helping Charities across the country! Ounces to Pounds can help you organise a pure gold party for your contributors.  As the host, the charity will receive 10% of the pay out, and, in addition the charity will receive 5% commission from parties booked at their event! See http://ounces2pounds.com/charitable-support for more information.

What Type of Party Should I Organise?

The choice is yours! – Whatever you feel comfortable with is what makes a great party, Here are some examples of previously hosted parties: – Afternoon tea parties, James Bond “Goldfinger” themed party, early evening drinks party, “pre clubbing” Saturday night party, dinner parties, “Golden Girls” party, we have even sent one of our representatives to a party on a boat! Feel free to contact us if you want some inspiration in organizing your own Party of Pure Gold!

Are your payouts higher than pawnshops?

Yes. We did a survey and Ounces 2 Pounds pays up to a third more than any pawnshop.

Are there any costs involved when I sell my gold jewellery to Ounces 2 Pounds?

No, it is completely free. Each Gold Pack is insured for up to £500 by Ounces 2 Pounds. Royal Mail offers insurance levels up to £2,500, but you will need to purchase that insurance yourself.

How much does Ounces 2 Pounds Pay for gold?

There are many factors that affect the amount you receive for your gold. Specifically, the most current “spot price” (London Fix Price), the physical weight of your gold and carat. Prior to you sending in your gold, we will be happy to provide you with an average price per gram based on the market during the previous few weeks. This will generally be a good indicator of the price you will be paid, but the specific prices will not be known until the day you send them in, due to daily changes in the market for gold.

What is a Gold Pack?

A Gold Pack is a free secure envelope for you to send us your gold for absolutely no cost to you. It contains a tri-fold pamphlet detailing exactly how to send in your gold safely, a letter from CEO Krista Waddell, a security bag, and a postage prepaid envelope. All of these items are free of charge to you.

What Type of Party Should I Organise?

The choice is yours! – Whatever you feel comfortable with is what makes a great party, Here are some examples of previously hosted parties: – Afternoon tea parties, James Bond “Goldfinger” themed party, early evening drinks party, “pre clubbing” Saturday night party, dinner parties, “Golden Girls” party, we have even sent one of our representatives to a party on a boat! Feel free to contact us if you want some inspiration in organizing your own Party of Pure Gold!

Do You Accept Jewellery That Has Stones In it?

Ounces to Pounds does accept pieces with stones. Unfortunately, we are only interested in the gold and platinum content. We do not pay for the weight of any stones that are included in your Gold Pack.

When will I get my payment?

Your gold will be weighted and the cheque will be mailed or the bank transfer initiated within one business day of Ounces 2 Pounds receiving your Gold Pack. Please allow up to 3 business days for Royal Mail to deliver payments or for amounts to be credited to your account.

What happens to non-precious items?

Ounces to Pounds will keep any non-precious metals sent, but if you want to have them returned you may pay to ship them back. We will deduct an amount for postage from any payment made to you.

Can I still change my mind after receiving Ounces to Pounds’ payment?

Yes. Ounces 2 Pounds offers a 14 day money back Guarantee. If you are not happy with your payment, simply return the cheque and telephone us, your jewellery will be subsequently sent back to you. After fourteen days the gold is melted and refined so after that period of time your gold can no longer be sent back to you

Do I have to use the Skype option?

No. Using Skype to watch us weigh your gold live is totally optional.

What is Skype?

Skype is a free webiste that allows you to make phone calls, video calls, and instant message absolutely free. We use Skype so you can watch us open and weigh your gold live.

Why use Skype?

Ounces 2 Pounds is the only postal gold company that uses Skype. You can schedule a viewing where you can see us open and weigh your gold after it has been sent in.

What if I miss my appointment ?

Everything is fine if you miss your appointment. There is a twenty-four hour rescheduling period where, if you wish, you can make a new appointment. If no new appointment is scheduled we will open and weigh your gold anyway and a cheque will be sent within twenty-four hours.

What happens if I do not choose to do Skype when I order my gold pack, but change my mind?

Simply fill in your Skype information on the card that is returned to us and we will schedule your Skype call when we receive the package through Royal Mail. Keep in mind, however, that we will have to open the Royal Mail package before your Skype call as we will not have any way to know that you changed your mind.

Can I call Ounces 2 Pounds to schedule a Skype call if I did not sign up for it originally?

Yes, you can inform us by calling 0808 225 4653. Please make sure you call us before we receive your Royal Mail Package. If we do receive your call prior to receiving your package, we will not open the Royal Mail package until the scheduled time for your Skype call.