
The business of selling gold has come to the supermarket, at least in the UK. Supermarket giant Tesco
launched a gold exchange program online and in stores that allows customers to turn in their gold
jewelry and receive cash deposited directly to their
bank accounts. According to reports, the program, which began in November, works similar to other mail-in
programs which have potential customers sending away unwanted or damaged gold jewelry in a prepaid package. After the package is evaluated the customer receives an offer letter and can choose whether or not to accept. Valuations are not done in the stores.
Tesco's website says it will pay £7.81 per gram of nine carat gold. It will also accept gold coins. Like many
services, the Tesco service does not compensate for stones in the jewelry so this is best of chains and other pieces that aren't set with stones which could be valuable.