Tesco want your gold! But they'll give you money for it...
The retailing behemoth that is Tesco has announced that it’s about to dig its claws into another piece of the revenue-generating flan (and make no mistake, it IS a flan).
They’re looking to muscle in on the thriving cash-for-gold market, as prices of the shiny, wonderful metal continue to rise. They’ll be trialling their ‘Gold Exchange’ service online and in about 15 of their stores, immediately threatening other postal services such as Cash4Gold and CashMyGold by following their business model.
Tesco are pledging to pay £7.81 per gram of nine carat gold and will take examine all kinds of gold jewellery, paying the dosh straight into the seller’s bank account, with the obvious Clubcard link-up hanging in the air as well.
Would the introduction of a ‘big-name’ player tempt you to part with your precious shiny objects are you hanging on to them whatever happens? Tell us you fools!