Selling Your Gold

Are you looking for buyers for your gold items?

This site will help you find buyers! And, it will offer tips for getting the best price.

There are a lot of gold buyers out there, many of whom are rather unscrupulous. On the other hand, there are many reputable buyers who will be honest with you. We'll point out the things to look for to help you spot both types.

Look for posts to come that discuss these topics and more:
  • Determining the current market price
  • Calculating the price you can reasonably expect
  • Estimating actual weight of gold in your pieces
  • Understanding the difference between 14K, 18K, etc.
  • Eliminating middlemen
  • Refining techniques
  • Scrap value vs. market value
So, come back often.

Who Buys Gold?

Below is a list of some of the types of potential buyers of your gold.  
  • Estate Shops - You'll find shops like this in many larger cities. They are also good sources of information.
  • Jewelers - Some larger, older stores like this may by used gold items.
  • Antique Dealers - In addition to those with stores, some dealers only sell at large antique shows around the country.
  • Precious Metals Dealers - These are businesses looking primarily at the scrap value of your pieces. The price they offer is highly dependent upon the current price of commodity gold.
  • Consignment Store - This type of business won't actually buy your gold but it does provide an additional sales channel for you.

Gold Commodity Market Price vs. What I can Actually Sell For

What price should you expect if you sell gold for scrap?

The reason I ask this question is because a potential seller of scrap often thinks that he or she will get the market price of commodity gold. Let's look at an example of what that might be. The commodity price of silver as of this date is about $1,238.00 per Troy ounce. If I have a bracelet with one Troy ounce of gold in it,  should I expect to be paid $1,238.00 for the bracelet by a scrap gold buyer? Of course not!

The scrap buyer is in business to make a profit and will be willing to pay less than the spot market price for gold. The buyer of your bracelet may sell it to someone else who will melt it down to refine the gold. The refiner has to make a profit as well.

The big question becomes, "So, how much should I expect to sell my bracelet for?"

There is no definite answer Be smart - shop around! Don't take the first offer you get until you have checked several other potential buyers.