• Swindon & Wiltshire Professional services
• Tuesday September 15 2026

Wiltshire gold dealer calls for tougher rules to protect sellers

A Wiltshire businessman is pressing the Government to introduce tougher rules for companies buying gold and other precious metals from the public, warning that vulnerable sellers can be left with little idea whether they have received a fair price.

Jon White, founder of Gold-Traders (UK), is working with East Hampshire MP Damian Hinds and Chippenham MP Sarah Gibson to secure a meeting with Business Secretary Jonathan Reynolds.

He wants ministers to introduce mandatory price transparency and minimum standards across the sector.

The campaign follows a written parliamentary question from Hinds asking whether online and high-street gold buyers should be required to display clearly the price they pay per gram.

Responding for the Department for Business and Trade, Minister of State Chris McDonald said the Digital Markets, Competition and Consumers Act 2024 already prohibits misleading commercial practices and requires traders to display accurate prices, including unavoidable charges.

However, he confirmed that the Government had not carried out a specific assessment of a per-gram pricing requirement.

Jon said existing protections were not enough.

“Someone may want to sell jewellery they have inherited, for example, be in a state of grief and have no idea if they are getting a fair deal or not,” he said.

“Our sector is unregulated, so companies can offer what they like per gram of gold, silver or platinum, and how will a consumer know if they are getting a fair deal?”

Jon claims some online dealers, postal services and temporary buying events can pay as little as 30 per cent of the true value of precious metals. He argues that sellers are often unable to compare offers because buyers are not required to publish their rates.

His proposed reforms include requiring all buyers to display the price paid per gram for different metal purities before a transaction begins. Postal services would have to provide a written indication of the likely payment before customers send items and offer free returns if an offer is rejected.

Travelling buying events would need to register with local authorities, publish their rates and provide written offers. White also wants restrictions on cash payments and compulsory identity checks for sellers.

“Millions of pounds change hands on a daily basis in the UK,” he said. “If they do feel like they have been shortchanged, there’s no redress. It really is ‘seller beware’.”

Gold-Traders, founded in 2008, operates branches in Royal Wootton Bassett and Bodmin, as well as a nationwide postal service. The company says it was the first precious metals business to receive Trading Standards accreditation through the Buy With Confidence scheme.