Tesco gets in to the gold trade
Tesco hopes to mine new ground with the launch of a service allowing customers to swap their unwanted gold jewellery for cash.
The retailer began trialling its Gold Exchange online and in about 15 stores in November.
Tesco said it developed the service, which is traditionally associated with pawnbrokers and specialists, as a response to the strong price of gold.
Under the fledgling scheme, those over 18 can apply for a gold pack and send off their unwanted or damaged gold jewellery in a prepaid Royal Mail special delivery bag via their local Post Office or in participating Tesco Extra stores. The packet is insured up to £500.
Once the items have been valued, customers will receive an offer letter or email stating the proposed price for the gold items.
If they wish to go ahead, payment is made directly into the customer's bank account.
On its website, Tesco pledged to pay £7.81 per gram (£221 an ounce) of nine carat gold, with acceptable items including earrings, bracelets, necklaces, bangles and rings.
A Tesco spokesman said: "Customers have been poorly served in this area so we're pleased that we can trial a trustworthy service that is transparent and offers market-leading value."
- 1 Planes go hybrid-electric in important step to greener flight
- 3 Antonio Martin shooting: Mayor says there should be 'no comparison' to Ferguson
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
£20000 - £35000 per annum: Recruitment Genius: This full service social media ...
£24000 - £35000 per annum: Recruitment Genius: We are 'Changemakers in retail'...
Very Competitive: Austen Lloyd: Senior Conveyancer - South West We are see...
Excellent Salary: Austen Lloyd: DORSET MARKET TOWN - SENIOR PROPERTY SOLICITOR...