As "gold fever" grips markets, experts reveal the smartest ways to buy and sell

With gold hitting multiple all-time highs this week — and the price of silver also surging — experts have shared their tips for the best ways for Brits to buy and sell the precious metals. 

Suggestions for buying range from Sovereigns and Britannias to ETFs, while one expert gave advice to those considering selling old, broken or unused jewellery while prices are high.

Eamonn Prendergast, Chartered Financial Adviser at Bromley-based Palantir Financial Planning Ltd, said: "Two of the most tax-efficient ways to buy gold are through coins such as Sovereigns or Britannias, or via Exchange-Traded Funds (ETFs). Most Sovereigns and Britannias are attractive as they’re exempt from UK Capital Gains Tax, but not all coins are equal, and buyers need to know which carry greater value.

He added: “One of my clients built up a substantial coin collection and, when he needed to sell quickly, large dealers offered well below market value. He eventually achieved a better price through eBay, though it took months to find the right buyer. ETFs, by contrast, are the simplest option: they offer high liquidity and low cost and can be held inside an ISA or SIPP for tax efficiency, meaning no Capital Gains Tax is due on gains within the wrapper.”

When it comes to selling, Jim Tannahill, Managing Director at London-based Suttons and Robertsons, advised: "With gold hitting a record high this week, it’s a good time to consider selling old, broken jewellery or unwanted coins, especially if you need cash. Always weigh gold yourself at home, check its purity (e.g. 9ct/18ct) and hallmarks.

"Know if it’s scrap gold or resaleable (e.g. branded jewellery or collector’s coins), which may be worth more than melt value. Use an online source for the live gold price, remembering value reflects purity. Buyers take a margin, so expect around 10% less than the live rate. Get at least two quotes and avoid mail-in services that only price after receipt and may downgrade offers.

“Gold prices move daily with global markets. When prices peak, you’ll get more, with today’s return almost 70% higher than July 2023. At our firm, we give valuations in-store or online. We’ve seen more people selling unwanted items, but also many using pawnbroking to borrow against gold- keeping ownership while easing short-term liquidity and retaining future value.”

Meanwhile, Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said Sovereigns remain one of the strongest plays: “Gold Sovereign coins offer several key advantages for investors. They're exempt from Capital Gains Tax and VAT-free for private individuals, making them one of the most tax-efficient ways to own physical gold in the UK.”

He added: “The 2025 Sovereign presents a unique opportunity as it will be the final bullion Sovereign minted in the current ‘rose gold’ colour before The Royal Mint transitions to traditional yellow gold in 2026. This exclusivity has made the 2025 edition particularly sought after by collectors and investors.”

And Paul Williams, Managing Director at Solomon Global, said physical gold gives investors something ETFs can’t: "Unlike ETFs or mining stocks, physical gold gives the owner absolute control over their capital. Physical gold ownership provides autonomy, privacy, and, in the UK (for personal ownership), tax benefits. Gold bullion coins produced by The Royal Mint are exempt from Capital Gains Tax, and all gold is VAT-free.

"With physical gold, a 'buy and hold' strategy is often adopted as the asset is used as a long-term store of wealth. ETFs, on the other hand, can be used to gain short-term exposure to gold prices and to respond to market events. As such, ETFs tend to be more susceptible to market volatility than physical gold.

“We recommend owning pure gold coins that are produced in limited quantities. These have the intrinsic ‘melt value’ of the gold and have an additional benefit: collector value. A gold coin, in good condition, which is rare, can be worth significantly more than its melt value in the collector market, and collector demand is independent of the spot price of gold.”

For Pete Mugleston, Managing Director at Derby-based Online Mortgage Advisor, the decision is about balancing costs: “If you’re looking at gold, physical bars and coins can make sense for long-term holders. There are entry and exit costs when you buy and sell, but once you own it there are no ongoing fees, which can make it more profitable than a gold ETF over many years.”

He continued: “ETFs are easier and more flexible to trade, but they usually carry annual charges of up to 1%, and those costs can eat away at returns over time.”

Not all advice was traditional. Riz Malik, Director at Southend-on-Sea-based R3 Wealth, said: “If I was looking to sell a reasonable amount of physical gold, I would find a cheap flight to Dubai and head to the gold souk. You will find a number of willing buyers ready to turn your gold into cash. The best part, you’ll also return with a nice tan.”