Gold-buying post companies investigated by OFT

The Office of Fair Trading (OFT) has launched an investigation into companies that offer cash for gold jewellery by post.
The OFT is reviewing the companies' terms and conditions to check that customers are being treated fairly.
In particular there is concern that consumers' rights to reject an offer and get their gold back is not always being honoured.
There is no assumption that the firms have broken the law, the OFT said.

The cash for gold market is unregulated, and this investigation has raised some serious concerns about the fair treatment of consumers Peter Vicary-Smith, chief executive, Which? What's the 'true' value of your gold?

The price of gold has reached new records over the past few months, and so companies that exchange people's gold for cash have grown in popularity.
"Buying gold using the postal service is a relatively new business model... we want to check that the market and businesses operating in it are developing in a way that treats customers fairly," said Juliet Young, the OFT's consumer market group director.
The OFT is also asking to hear, via its website, about consumers' experiences of using these firms.
Separately, Which? Money described them "as shockingly bad value".
Research for the consumer group showed that the gold companies that advertise on television offer an average of just 6% of the gold's retail value.
"The cash for gold market is unregulated, and this investigation has raised some serious concerns about the fair treatment of consumers," said Peter Vicary-Smith, chief executive of Which? (from BBC)

I know a friend sent some gold away and didn't get a lot for it...

If any members here are considering selling their gold, don't post it. You should always be there while they weigh it. Also, don't take the first offer you get, shop around. They want your gold , to make money, so be careful who you deal with. Simples !!!

I took my substantial amount to a reputable jeweller - also a friend of my late husband!! (situated near the airport) I had done my homework and when he made me an offer I just stared at him in amazement (he was offering £3.00 less than the market price on 9ct gold and I didn't even bother to ask him about the 18 and 22 ct) so I said thanks but no thanks (this was a month ago) so he said if you are not desperate to sell wait another 6 month/year and it will treble in value! - so it is not only postal offers you have to beware of - do your homework first!!!