Selling To Chard - Our Quality Checks for Grade C and Scrap

Author: Ian Davis - Bullion Manager

Published: 9 Apr 2019

Last Updated: 7 Aug 2019

Sell With Confidence!

We often get asked:

"How can I trust you to make an honest offer and actually pay me?"

This is a legitimate question especially for new customers to Chards. Our answer is as simple as possible in that we have been in business for over 50 years and would not be around if we did not trade in a honest and law abiding manor. You can see all our published accounts on Companies House, review our website(s) and even visit us at our fantastic showroom in Blackpool to have a conversation in person. There remains an element of trust, but we have always paid in full any offer we have made. 

With any offer there is no obligation to the customer to go ahead and we will send items back to you or hold them if you wish to collect. All return postage costs can be found on our postal page. 

You can read our reviews on our customer reviews page to hear about first hand experiences and where we have improved our services. 

Our Incoming Quality Check

We publish buy in prices across multiple pages on our site most notably on our "selling" page. These prices refer to a price that we will pay up to and we reserve the right to make a lower offer based on the condition of the coins or bars sold.

We make an offer on all coins, despite their condition, however, the offer price may be lower for coins which would not pass our "bullion" condition standards. These standards have been set by customers who have previously given feedback that our bullion sovereigns we have supplied have too many edge knocks, scratches and general wear and are regarded substandard. These coins are then returned for replacement and it is evident expectations have shifted in relation to the condition of bullion coins even if the gold content and weight is within tolerance.

We are currently trying to find the best balance between trading bullion coins and meeting these expectations. We like to offer 100% for bullion coins in times of demand and then carry out a quality check offering slightly less based on condition, but this has caused some issues and confusion. This page hopefully clears things up a little as coins with heavy damage will qualify for scrap rates with the others than are not perfect falling somewhere in between and grade C rates offered. We have a dedicated page and more information about "Grade C Products". We understand, as hopefully you do, that this is a subjective topic so we try to provide examples below for reference so you can check if you might have a coin that we will offer below bullion rates for. We would prefer to deal in person to discuss the coins and have an honest conversation but with the internet now dominating business this is not always achievable. We highly recommend you call us prior to sending any coins and we can talk you through this process. You can call us any weekday on 01253 343081 where a trained member of staff will go through the details.

Examples of Scrap or Grade C Coins

We are currently taking photographs of coins we have received where they can only be sold as grade C or scrapped. Recent changes in the market and consumer expectations mean that bullion coins within weight tolerances might not be suitable as bullion if they have suffered edge knocks or have scratches across the obverse or reverse. 

Below Bullion Grade Examples

Deep Scratch on Obverse

Scrap Sovereign - Discolouration / Staining

Scrap Sovereign - Jewellery Mount Damage

Scrap Edward VII Sovereign

Scrap Sovereign - "Shiny" Inscription with Pitted Effect

Pitted Effect Up Close

Scrap Sovereign - Toning / Discolouration

Scrap Sovereign - Damage To Obverse

You may wish to review our buy in prices

Learn more from our dedicated pages on selling gold and selling silver

If you are waiting for the best time to sell why not track the live gold price and live silver price using our fast loading precious metal charts. 

This guide and its content is copyright of Chard (1964) Ltd - © Chard (1964) Ltd 2019. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is prohibited.

We are not financial advisers and we would always recommend that you consult with one prior to making any investment decision.

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