Recycled Gold is Great for Your Pocket and for The Planet

July 15, 2009 - PRLog -- London, UK  According to gold buying website YourGoldForCashrecycling your old gold is not only healthy for your pocket, it’s healthier for the planet too.

And because www.YourGoldForCash.co.uk estimate that there are many thousands of rings, chains, bracelets, earrings and other trinkets which never get taken out of the nation’s jewellery boxes Brits could be sitting on a billion pound ‘green gold mine’.

YourGoldForCash estimate that on average each Goldpack they receive contains around 40 grams of 9 carat gold worth around £270.00 at today’s prices. To mine that amount of new gold would require the extraction and processing of around 80 tonnes of gold ore.

Virtually all of the unwanted gold jewellery and trinkets bought by www.YourGoldForCash.co.uk are melted down and recycled into new jewellery and there are a growing number of jewellery manufacturers who market themselves as only using recycled gold because of its environmental and ethical benefits.

Companies offering ethical and eco friendly jewellery in the UK include Avasarah.com and Ecochiccollection.co.uk and there are now numerous websites in the USA specialising in eco friendly jewellery.

Only 0.00001% of ore is refined into gold*, the rest is waste. Mining enough gold to make a typical five gram 18 carat gold gents wedding ring could necessitate the extraction and processing of about ten tonnes of gold ore. The extraction processes used by some gold producers include the application of deadly chemicals such as cyanide and other dangerous compounds such as arsenic and mercury drain out of the piles of waste ore itself which can cause serious long term and sometimes permanent damage to the environment.

David Sonnenthal, Managing Director of YourGoldForCash, said: “There is a huge worldwide demand for gold jewellery as well as a demand for gold to be used in the manufacture of electronic components. However, gold mining can be very harmful to the environment with small gold mining companies often paying very little regard to the damage being caused by the mining of the ore and the extraction of the gold. There are now various jewellers who will only use recycled gold to make their new jewellery and there’s a growing demand for an eco friendly and ethical alternative to mined gold.”

The price of gold is still strong at over £565 per troy ounce** so anyone with old, broken or unwanted gold jewellery can use websites like YourGoldForCash to quickly turn items they’ll never wear or use again into money safe in the knowledge that they’re also helping the environment.

Amongst the items sent to YourGoldForCash recently are an 18 carat gold bracelet worth £160, a large 18 carat gold chain worth £340 and a 9 carat gold signet ring worth £85. However, they have also received much smaller items including a package of mixed odd gold earings worth £45 which none the less the owner was very happy to convert into cash.

David Sonnethal said: “Getting gold out of the ground takes a huge amount of energy and can cause a lot of environmental damage so recycling gold that’s already in circulation is a much greener way of satisfying the demand for new gold jewellery. Customers selling their unwanted gold through YourGoldForCash can quickly get money for something they don’t use any more and feel good that they’re helping the environment.”

About Us/Contact Us

Jason at 42 PR on 07824 818242

Your Gold For Cash Limited – 843 Finchley Road, London, NW11 8NA.

Tel no. 0871 6661147 - Fax no. 0871 6660014

If you would like to link to our website please use www.yourgoldforcash.co.uk

Notes to editors:

* Source - No Dirty Gold: Mining, Communities and the Environment (Report by Earthworks and Oxfam America, 2004)
** Source – London Bullion Market Associations website 14th July 2009

Press Contact:
jason Wyer-Smith
YourGoldForCash
843 Finchley Road
London, NW11 8NA
07824 818242
jason@42pr.com
http://www.yourgoldforcash.co.uk