Recycleold.gold Review

Based on looking at the website recycleold.gold, it presents itself as a service for selling old and unwanted gold for cash. While the concept of recycling and reusing materials is generally positive, especially from an environmental perspective, the core business model involves selling gold for immediate cash, which raises significant concerns regarding Islamic financial principles, particularly the prohibition of riba interest and gharar excessive uncertainty in transactions involving monetary commodities like gold. In Islamic finance, gold transactions require immediate, physical exchange, which is often difficult to ensure in online, mail-in services. The website highlights convenience, quick payments, and a charitable aspect, but the nature of trading gold in this manner warrants careful consideration for ethical adherence.

Here’s an overall review summary:

• Service Provided: Mail-in gold recycling for cash.
• Ethical Compliance Islamic Perspective: Highly questionable due to the remote, non-simultaneous exchange of gold for cash, which can involve riba and gharar.
• Transparency: Provides information on assaying methods XRF analysis, use of London Bullion Market Association LBMA spot prices, and payment methods Faster Payments via Wise.
• Security: Uses Royal Mail Special Delivery with tracking and insurance up to £750.
• Environmental Claim: States a proportion of net profit is donated to environmental charities specifically WWF UK.
• Convenience: Emphasizes a simple three-step process: request pack, post gold, receive offer and payment.
• Pricing: States they pay a percentage of the spot price, determined by the amount of precious metal received, but the exact percentage is not explicitly stated upfront.
• Return Policy: Free return for items over 10g if the offer is not accepted. £15 admin fee for less than 10g.
• Customer Support: Provides email and phone contact, and a physical PO Box address.

While recycleold.gold attempts to present a straightforward and secure service, the underlying transaction of selling gold remotely for cash can be problematic from an Islamic finance standpoint. The immediate, hand-to-hand exchange required for gold transactions in Islam is bypassed, introducing elements of delay and potential uncertainty in valuation and payment timing. Therefore, despite the environmental claims and apparent convenience, such services are generally not recommended due to their inherent conflict with Islamic financial principles. The focus should always be on clarity, certainty, and immediate possession in gold transactions to avoid riba and gharar.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Best Ethical Alternatives for Value Exchange and Environmental Contribution:

Instead of engaging in transactions that carry inherent riba or gharar risks, consider ethical alternatives that align with Islamic principles of responsible consumption, financial integrity, and charitable giving.

1. Ethical Investment Funds
   • Key Features: Invest in Sharia-compliant businesses and industries, avoiding those involved in alcohol, gambling, conventional finance, and unethical practices. Focus on real assets and ethical growth.
   • Average Price: Varies based on fund type and management fees e.g., 0.5% – 2% annual fee.
   • Pros: Promotes wealth growth ethically, contributes to sustainable and responsible businesses, diversifies investments.
   • Cons: Returns can fluctuate with market conditions, requires careful research to ensure true Sharia compliance.
2. Zakat and Sadaqah Donations to Certified Charities
   • Key Features: Direct charitable giving to organizations that use funds for poverty alleviation, education, healthcare, and environmental protection in accordance with Islamic guidelines.
   • Average Price: Any amount, often tax-deductible.
   • Pros: Fulfills religious obligations Zakat, earns immense spiritual reward Sadaqah, directly benefits those in need and good causes.
   • Cons: Requires due diligence to ensure the charity is reputable and uses funds effectively.
3. Upcycling and Crafting Materials
   • Key Features: Transform old, unwanted items into new, useful products. This could involve textiles, wood, glass, or even non-precious metals.
   • Average Price: Cost of crafting supplies e.g., $10-$50 for basic kits.
   • Pros: Reduces waste, encourages creativity, can create personalized gifts or marketable items, aligns with sustainability.
   • Cons: Requires time and skill, the “value” is in the creation, not a direct cash exchange.
4. Donation to Metal Recycling Facilities Non-Monetary
   • Key Features: Some facilities accept metals for recycling without a monetary exchange, focusing purely on environmental benefit. You contribute to the circular economy without engaging in a financial transaction.
   • Average Price: Free you contribute the materials.
   • Pros: Environmentally responsible, avoids financial complexity, simple disposal of unwanted metal.
   • Cons: No monetary return, may require transportation.
5. Ethical Consumer Goods e.g., Fair Trade Gold Jewelry with Certification
   • Key Features: If one needs to acquire gold, seeking out ethically sourced and certified Fair Trade gold ensures it’s mined and processed under just labor conditions and with minimal environmental impact.
   • Average Price: Generally higher than conventionally sourced gold due to ethical premiums.
   • Pros: Supports ethical mining practices, ensures fair wages and safe conditions, environmentally conscious.
   • Cons: Higher cost, limited availability compared to conventionally sourced gold.
6. Precious Metal Storage Physical Possession
   • Key Features: For those interested in gold as a store of wealth, investing in physical gold like coins or bars and taking immediate possession, or storing it with a reputable, Sharia-compliant vaulting service, is a more permissible alternative than remote selling.
   • Average Price: Spot price plus a premium for physical product, storage fees if applicable.
   • Pros: Direct ownership of a tangible asset, aligns with Islamic principles of qabd possession in gold transactions.
   • Cons: Storage considerations, security risks, not easily liquidated for small amounts.
7. Community Bartering and Exchange Networks
   • Key Features: Trade goods or services directly within a community without the exchange of money. This can be a way to exchange old items for something useful.
   • Average Price: Exchange of goods/services.
   • Pros: Fosters community, encourages resourcefulness, avoids monetary transactions entirely.
   • Cons: Limited to what’s available in the network, may not always find a suitable exchange.

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Recycleold.gold Review: A Deep Dive into the Mail-In Gold Exchange Model

When you stumble upon a service like recycleold.gold, the immediate appeal is clear: turn your unused gold into cash, easily and quickly.

But for those of us who scrutinize transactions through an ethical lens, particularly one guided by Islamic principles, the details matter. This isn’t just about convenience.

It’s about compliance and whether the method of exchange adheres to foundational guidelines that promote fairness and clarity.

The mail-in gold exchange model, while popular, introduces complexities that require careful examination.

The Problem with Remote Gold Transactions: Riba and Gharar Concerns

Gold, in Islamic jurisprudence, holds a special status as a ribawi item, meaning its exchange with currency or other gold must adhere to strict conditions to avoid riba interest/usury and gharar excessive uncertainty. The core requirement is simultaneous, hand-to-hand exchange qabd for both the gold and the payment. When you send your gold through the mail to recycleold.gold and wait for an offer and then a bank transfer, this simultaneity is inherently absent.

• Absence of Immediate Qabd: The gold leaves your possession, but you haven’t received the cash yet. There’s a time lag and physical separation. This delay in reciprocal possession can be interpreted as a form of riba al-fadl riba due to delay or riba an-nasi’ah riba due to waiting period if the gold is considered a monetary commodity.
• Uncertainty in Valuation Gharar: While recycleold.gold states they use XRF analysis and LBMA spot prices, the final offer percentage is not fixed or guaranteed upfront. You send the gold before knowing the precise cash amount you’ll receive. This introduces an element of uncertainty that can be considered gharar in a sale, making the transaction potentially invalid in Islamic terms.
• Implied Loan/Debt: In essence, you are “lending” your gold to them, or entrusting it, without a definitive price, for them to then “buy” it from you at a later, unspecified value. This kind of arrangement can resemble a debt transaction where the precise value is not settled at the point of exchange, which is problematic for ribawi items.

The ethical framework of Islamic finance prioritizes clarity, fairness, and the avoidance of exploitation.

Transactions where one party’s asset is transferred without immediate and known counter-value often fall short of these ideals.

Therefore, services like recycleold.gold, despite their claims of transparency, may operate in a grey area when viewed through the strict lens of Islamic commercial law, primarily due to the non-simultaneous exchange of gold for cash.

Recycleold.gold Review & First Look

Upon visiting recycleold.gold, the website immediately presents a clean, modern interface focused on simplicity.

The core message is clear: “Get paid to recycle your gold.” This direct approach is appealing, especially for those looking to declutter and gain some quick cash. Bybeaume.com Review

The site prominently features a call to action to “Request your FREE recycling pack,” making the entry point for users straightforward.

Trustpilot reviews are highlighted, aiming to build immediate credibility.

• User Interface and Navigation: The site is intuitive, with clear menus for Home, FAQ, Security, and Info. The design prioritizes ease of use, guiding visitors seamlessly through the process. Buttons are well-placed, and the overall aesthetic is professional.
• Initial Trust Signals: The inclusion of “Trustpilot” badges and mentions of Royal Mail’s secure and insured delivery up to £750 are clear attempts to instill confidence in potential users. The claim of donating a proportion of net profit to environmental charities WWF UK adds a layer of ethical appeal, aiming to resonate with environmentally conscious individuals.
• Lack of Instant Quotation: A key observation is the absence of an immediate, guaranteed quotation for gold. Users must send in their gold first to receive an offer. While this is common for such services due to varying purity and weight, it introduces an element of uncertainty that can be a significant drawback for some users. The site does show “Latest Gold Spot Prices per gram” for different carats, but explicitly states, “We pay a percentage of spot price depending on the amount of precious metal received,” without detailing that percentage.

Recycleold.gold Cons

While recycleold.gold offers a convenient service, several aspects raise concerns, particularly from an ethical and consumer protection standpoint.

These cons highlight areas where potential users, especially those adhering to strict financial principles, should exercise caution.

• Pricing Ambiguity: The website states, “We pay a percentage of spot price depending on the amount of precious metal received.” However, the exact percentage paid is never explicitly stated upfront. This lack of transparency means you are sending your gold without knowing the precise discount they will apply from the market spot price. This opacity can lead to perceived unfair valuations once your gold is assessed. Imagine selling a car without knowing the dealer’s cut—you’d want that clarified.
• No Upfront Offer: Users must send their gold to recycleold.gold before receiving an offer. This puts the seller in a less powerful negotiation position. Once your gold is in their possession, the psychological pressure to accept their offer, rather than go through the hassle of having it returned especially if under 10g, incurring a £15 fee, can be significant. This process contrasts sharply with in-person buyers who provide an immediate quote.
• Return Policy Administration Fee for Small Amounts: If your precious metals weigh less than 10g and you decide not to accept their offer, a £15 administration fee is charged for the return. This fee can make it financially impractical to get smaller amounts of gold back, effectively coercing acceptance of an unfavorable offer. For example, if your item is valued at £20 but you don’t like the offer, paying £15 to get it back leaves you with very little value.
• Reliance on Mail Service: While Royal Mail Special Delivery offers insurance up to £750, the entire process relies on the postal service. Losing a package, even if insured, can be a time-consuming and stressful ordeal. For items potentially worth more than £750, you are advised to split them across multiple bags, which adds complexity and potential for multiple administration fees if offers are rejected.
• Single Valuation Method: The company uses X-ray fluorescence XRF analysis and LBMA spot price. While XRF is accurate for purity, relying solely on one valuation method and their internal percentage calculation means there’s no independent verification of their offer without obtaining a second opinion elsewhere after you receive their offer.
• Limited Customer Interaction: The process is largely automated request pack, mail, SMS/email offer. While they provide a phone number to discuss offers, the remote nature means you lose the personal interaction and immediate negotiation possible with a local jeweler or gold buyer.
• Ethical Concerns as discussed previously: From an Islamic perspective, the remote, non-simultaneous exchange of gold for cash presents significant issues related to riba interest/usury and gharar excessive uncertainty, making such transactions ethically dubious. The delayed payment and unknown offer percentage until after receipt of the item are key points of contention.

recycleold.gold Alternatives

Given the concerns surrounding recycleold.gold, particularly from an ethical standpoint due to the nature of remote gold transactions, it’s essential to explore alternatives.

These alternatives either focus on physical gold ownership aligning with Islamic principles of immediate possession or provide entirely different avenues for ethical financial management and charitable giving.

• Local Gold Buyers/Jewelers:
  • Pros: Allows for immediate, in-person assessment and negotiation. You receive cash or payment immediately upon agreeing to a price, ensuring the qabd possession condition is met for both parties. This eliminates the uncertainty of mail-in services.
  • Cons: Requires physical travel, may not always offer the best prices if you don’t shop around, and ethical practices of individual buyers can vary.
• Physical Gold Investment Bars/Coins:
  • Pros: For those looking to invest in gold, purchasing physical gold bars or coins from reputable dealers and taking immediate possession or storing them in a Sharia-compliant vaulting service is the most permissible way to own gold. This is about wealth preservation rather than quick cash for old jewelry.
  • Cons: Requires secure storage, not suitable for small, sporadic sales of scrap gold, and buying/selling premiums apply.
• Takaful Islamic Insurance:
  • Pros: As an alternative to conventional financial products that involve riba or gharar, Takaful offers cooperative insurance based on mutual assistance, where participants contribute to a fund to cover each other’s losses. It’s a Sharia-compliant way to manage risk.
  • Cons: May have fewer providers than conventional insurance, and specific coverage options can vary.
• Sharia-Compliant Investment Funds:
  • Pros: Instead of selling old gold for immediate cash that might be used for conventional means, investing in Sharia-compliant funds e.g., Islamic equity funds, sukuk funds allows for wealth growth through ethical avenues. These funds avoid forbidden industries and interest-based dealings.
  • Cons: Subject to market fluctuations, requires research to ensure genuine compliance, and typically involves management fees.
• Donating or Upcycling Old Gold/Jewelry:
  • Pros: If the primary goal is to declutter or contribute to a cause, donating old, non-precious jewelry to charity or upcycling it into new craft projects can be a rewarding alternative. This avoids any financial transaction complexities.
  • Cons: No monetary return, requires creativity for upcycling.
• Ethical Consumer Spending:
  • Pros: Instead of quick cash from gold, focus on spending habits that support ethical businesses, fair trade products, and sustainable practices. This aligns with broader Islamic principles of responsible consumption and supporting justice.
  • Cons: May involve higher costs for ethically sourced goods, requires conscious decision-making.
• Islamic Microfinance Institutions:
  • Pros: For those seeking or providing small-scale financing, Islamic microfinance offers interest-free loans qard hasan or profit-sharing arrangements, supporting entrepreneurship and poverty alleviation in a Sharia-compliant manner.
  • Cons: Limited availability in some regions, specific eligibility criteria.

How to Cancel recycleold.gold Request

If you have requested a free recycling pack from recycleold.gold but have not yet sent in your gold, canceling your request is straightforward.

Since no financial transaction has occurred, and your items are still in your possession, there’s no complex process involving returns or refunds.

• No Formal Cancellation Needed Pre-shipment: The website’s process begins with you requesting a pack and then you deciding to send your gold. If you simply decide not to send your gold, you don’t need to formally “cancel” anything. The recycling pack is free, and there’s no obligation to use it. You can simply discard the pack.
• Discarding the Pack: If you received the free recycling pack and have decided not to proceed, the simplest method is to safely discard the pack and its contents. Ensure any sensitive information on the pack is shredded or disposed of securely if it contains personal details.
• No Financial Obligation: Crucially, before you mail in your gold, there is no financial obligation whatsoever. The “free” aspect means you are not charged for the pack or for not proceeding with the service.
• Contacting Customer Service Optional: While not strictly necessary, if you feel compelled to inform them of your decision or have any related questions, you can contact their customer service via email at or phone at 020 4572 1471. However, for a simple non-proceeding, this step is generally superfluous.

recycleold.gold Pricing Model Unpacked

The pricing model of recycleold.gold is designed around the daily spot price of gold and the purity/weight of the metal received. Visasbot.com Review

While they offer transparency in their methodology, the actual percentage paid remains a point of ambiguity.

• Spot Price Basis: recycleold.gold uses the daily Gold Spot Price set by the London Bullion Market Association LBMA. This is a standard and reputable benchmark in the global gold market. The website displays real-time spot prices for different carats e.g., 9ct, 14ct, 18ct, 22ct, 24ct, updated frequently. For example, as of a given date, 24ct gold might be quoted at £79.38 per gram.
• XRF Analysis for Purity and Volume: Upon receiving your gold, they use X-ray fluorescence XRF analysis. This is a non-destructive analytical technique used to determine the elemental composition of materials. It allows them to accurately identify the purity caratage and volume of the gold or other precious metals like palladium or platinum. This technical step ensures precision in their assessment.
• “Proportion of Spot Price”: The critical element of their pricing model is that they “pay a percentage of spot price, determined by the amount of precious metal received.” This means they do not pay the full spot price. The percentage they offer will be less than 100%, representing their margin for processing, refining, and operational costs. However, this exact percentage is not disclosed on the website. This is a common practice among gold buyers, but it means you send your gold without knowing the exact rate of return.
• Factors Influencing the Percentage: While not explicitly detailed, the “amount of precious metal received” suggests that larger quantities or higher purities might fetch a better percentage of the spot price due to economies of scale. They also state, “We work on economies of scale, so we are able to offer better prices for larger amounts of precious metals and prefer a minimum of 10g.”
• Payment Method: Once an offer is accepted, payment is made directly to your bank account via Faster Payments from their Wise bank account. They claim typical transfer times are “less than 6 minutes” after acceptance, which is indeed very fast. This method is secure and efficient for the user.
• Return Fee Impact: The £15 administration fee for returning parcels under 10g if the offer is rejected can significantly impact the effective “price” for small quantities. For instance, if you have 5g of 9ct gold valued at £148.80 5 * 29.76, and their offer is significantly lower e.g., 50% of spot, or £74.40, rejecting it and paying a £15 return fee means you effectively receive less than the original value or incur a loss for the effort.

In essence, recycleold.gold’s pricing relies on a transparent technical assessment XRF and a clear market benchmark LBMA spot price, but the crucial component—their internal percentage paid—remains opaque until you receive the offer.

This approach places the onus on the seller to accept an unknown percentage, a common business model for such services but one that requires careful consideration.

Ethical Considerations of Selling Gold Online

When you consider selling gold online, especially through a mail-in service, it’s crucial to understand the ethical implications, particularly within the framework of Islamic finance.

The convenience often comes with trade-offs that can contradict fundamental principles designed to ensure fairness, transparency, and prevent exploitation.

• The Riba Interest Problem:
  • In Islamic finance, gold is considered a ribawi item, akin to currency. Any transaction involving gold for currency or gold for gold must be hand-to-hand qabd and immediate, with no delay in either the delivery of the gold or the receipt of the money. This is to avoid riba an-nasi’ah interest due to delay.
  • With mail-in services like recycleold.gold, you send your gold, and then later receive an offer, and even later receive the money via bank transfer. This delay in reciprocal exchange is a clear violation of the immediate qabd requirement for ribawi items. It introduces an element of debt or a deferred exchange, which is forbidden.
  • Some scholars argue that even if the delay is short, the principle of qabd means simultaneous, physical possession of both exchanged items. Digital transfers, while fast, don’t always equate to the physical qabd required for gold.
• The Gharar Uncertainty Problem:
  • Gharar refers to excessive uncertainty or ambiguity in a contract that could lead to unfairness or dispute. In the context of recycleold.gold, you send your gold without a definite, pre-agreed price. The company states they pay a “percentage of spot price” based on assessment, but the exact percentage is not disclosed beforehand.
  • This means you enter into a transaction where a key term the price is not fixed at the point of sending the item. While you can reject the offer, the hassle and potential fees for return e.g., £15 for less than 10g create pressure to accept whatever is offered, which can be seen as an element of gharar that unfairly benefits one party.
• Lack of Direct Negotiation:
  • Ethical trade in Islam encourages direct negotiation and mutual consent based on clear terms. Mail-in services often remove this direct interaction. You are presented with a take-it-or-leave-it offer after your item has been sent, reducing your bargaining power.
• Transparency of Profit Margin:
  • While businesses are entitled to profit, Islamic principles often emphasize transparency. The opaque “percentage of spot price” they pay means the buyer’s profit margin isn’t fully disclosed until the offer is made, after the gold is in their possession.
• The “Environmental Charity” Aspect:
  • While donating to environmental charities like WWF UK is commendable and aligns with general Islamic values of environmental stewardship khilafah, it does not negate the issues with the underlying transaction model of selling gold. A permissible act charity does not make an impermissible transaction gold exchange with riba/ gharar permissible.
  • Ultimately, for a Muslim, the primary concern should be the permissibility of the transaction itself. If the means of earning the money is questionable, then even using a portion for charity does not rectify the initial transgression.

In conclusion, while services like recycleold.gold offer convenience and appeal to a sense of environmental responsibility, their operational model for gold transactions raises significant ethical flags within Islamic finance due to the non-simultaneous exchange of ribawi items and inherent uncertainties. It is always advisable to engage in gold transactions that involve immediate, hand-to-hand exchange and clearly defined prices to ensure adherence to Islamic principles.

FAQ

What is recycleold.gold?

Recycleold.gold is an online service that allows individuals to sell their unwanted gold, including jewelry, coins, scrap gold, and dental gold, by mailing it in for a cash offer.

They claim to pay a percentage of the daily gold spot price after assessing the metal’s purity and volume.

How does recycleold.gold work?

The process involves three steps: customers request a free gold recycling pack, mail their gold back using a provided tracked and insured Royal Mail Special Delivery envelope, and then receive an offer via SMS and email. Traderscale.com Review

If the offer is accepted, payment is transferred directly to their bank account.

Is recycleold.gold trustworthy?

Recycleold.gold highlights Trustpilot reviews and uses Royal Mail Special Delivery with insurance, which are generally positive trust signals.

They also claim to use professional XRF analysis for valuation.

However, the ethical concerns regarding the transaction model delayed payment for gold remain.

What types of gold does recycleold.gold accept?

They accept various gold items, including gold jewelry bracelets, watches, chains, earrings, rings, necklaces, gold coins Sovereigns, Krugerrands, American Eagles, Canadian Maples, Britannias, scrap gold, gold bullion, dental gold, white gold, rose gold, platinum, and palladium.

They only pay for gold that is at least 9 carat and do not accept gold-plated items.

How does recycleold.gold determine the value of my gold?

They use X-ray fluorescence XRF analysis to accurately identify the purity and volume of the precious metal.

This is combined with the daily Gold Spot Price set by the London Bullion Market Association LBMA to make a valuation. They pay a proportion of this spot price.

Is the percentage recycleold.gold pays disclosed upfront?

No, the exact percentage of the gold spot price that recycleold.gold pays is not explicitly disclosed upfront on their website.

They state that the percentage depends on the amount of precious metal received, with better prices typically offered for larger quantities. Scrapmycar.net Review

What is the insurance coverage for mailed gold?

Recycleold.gold uses Royal Mail Special Delivery, which provides tracking and insurance coverage up to £750. If the value of your gold is estimated to be higher than £750, they recommend splitting it across multiple bags and notifying them in advance.

What happens if I don’t accept the offer from recycleold.gold?

If you do not accept their offer, you can reply to the email/SMS or call them to discuss.

If you ultimately wish for your gold to be returned, it can be done for free if the weight of the precious metals is greater than 10g.

A £15 admin fee is charged for returning parcels with less than 10g of precious metals.

How quickly does recycleold.gold pay?

Recycleold.gold claims to transfer money directly to your bank account using Faster Payments from their Wise bank account, with typical transfer times of less than 6 minutes after accepting the offer.

Does recycleold.gold support environmental charities?

Yes, recycleold.gold states that they donate a proportion of their net profit to environmental charities, specifically mentioning WWF UK.

This is highlighted as part of their commitment to sustainability.

Are there any fees for requesting a recycling pack?

No, requesting the gold recycling pack from recycleold.gold is completely free, and there is no obligation to send your gold after receiving it.

What are the minimum and maximum amounts of gold I can send?

Recycleold.gold prefers a minimum of 10g of precious metals to offer better prices, and if an offer is rejected, this weight threshold determines whether a return fee applies.

The maximum parcel size accepted via Royal Mail Special Delivery guaranteed by 1pm is 20kg. Trekkinn.com Review

Can I send items with gemstones to recycleold.gold?

Yes, they accept items with gemstones. However, most gemstones have little onward value.

They advise you to remove them if you wish to keep them.

If they can find a buyer for your stones, they may make a separate offer, more likely for larger stones depending on cut, color, and clarity.

A £15 administration fee applies if you want gemstones returned after they’ve been removed.

How does recycleold.gold ensure security during transit?

They use Royal Mail Special Delivery, which ensures parcels are trackable and insured.

You receive a proof of postage receipt, and the parcel is signed for upon receipt at their end, providing confirmation of delivery.

Why is selling gold online problematic from an Islamic perspective?

From an Islamic perspective, selling gold for cash online, especially through mail-in services, is problematic because it often violates the requirement of qabd immediate, hand-to-hand exchange for ribawi items like gold. The delay between sending the gold and receiving payment introduces riba interest/usury and gharar excessive uncertainty due to the unknown price until after the item is received.

What are ethical alternatives to selling gold online for cash?

Ethical alternatives include selling gold in-person to local, trusted buyers for immediate cash exchange, investing in physical gold and taking direct possession, or pursuing Sharia-compliant investments and charitable donations that align with Islamic financial principles.

Does recycleold.gold accept silver?

Yes, they accept sterling 925 and pure silver.

However, if silver is sent, it must come with at least 10g of other precious metals to qualify for a free return if the offer is not accepted. Ayucosmetics.com Review

Otherwise, a £15 admin charge applies for its return.

What is the company behind recycleold.gold?

Recycleold.gold is a trading name of Gold Exchange Direct Limited, with company number 14378142 and ICO registration number ZB738866.

How can I contact recycleold.gold’s customer service?

You can contact them via email at or by phone at 020 4572 1471. Their postal address for correspondence is PO Box 1713, High Wycombe, HP11 9QQ.

Where does the gold sent to recycleold.gold go?

Recycleold.gold states they have relationships with jewelers and refiners who melt down the purchased metals and remake them into new jewelry, bullion, or other useful gold products.

This process aims to put old gold back into circulation, reducing the need for newly mined gold.