How to Sell Gold
By Alex Capitol · Updated 2026-04-10 · Methodology
The best way to sell gold is through a reputable online dealer (APMEX, JM Bullion, Kitco) or a local coin shop that posts transparent buyback prices. Expect to receive 90-98% of spot price for bullion and 70-90% for scrap/jewelry. Always get multiple quotes and know the melt value before selling.
Before You Sell: Know Your Gold's Value
Before contacting any buyer, determine what you have and what it's worth:
- Identify the purity — Look for karat stamps (24K, 22K, 18K, 14K, 10K) or fineness marks (999, 916, 750, 585). No stamp? Get it tested.
- Weigh it accurately — Use a jeweler's scale (grams). Kitchen scales aren't precise enough.
- Calculate melt value — Use our gold karat calculator or scrap gold calculator to find the pure gold content and melt value. For reference prices, see gold price per gram.
- Check the spot price — See the current gold price so you know the baseline.
Important: Melt value is the minimum your gold is worth. Bullion coins and bars from recognized mints (American Eagle, Maple Leaf, PAMP bars) command a premium above melt. Rare or antique coins may be worth significantly more — consult a numismatist before selling those.
6 Ways to Sell Gold
1. Online Dealers (Best for Bullion)
Major dealers like APMEX, JM Bullion, SD Bullion, and Kitco buy gold back at published prices. This is typically the best option for standard bullion.
How it works: Request a quote online or by phone → lock in the price → ship your gold (insured) → receive payment after verification.
| Dealer | Typical Buyback | Payment Speed | Notes |
|---|---|---|---|
| APMEX | 95-98% of spot | 1-3 business days | Largest US dealer |
| JM Bullion | 95-97% of spot | 1-3 business days | Competitive prices |
| Kitco | 95-98% of spot | 2-5 business days | Also buys scrap |
| SD Bullion | 94-97% of spot | 1-3 business days | Lower premiums |
Pros: Best prices for bullion, transparent pricing, fast payment Cons: Must ship gold (insured), verification period
2. Local Coin Shops
Walk in with your gold and walk out with cash. Convenient but prices are usually lower than online dealers.
Typical buyback: 90-95% of spot for bullion, 70-85% for jewelry/scrap
Tips:
- Visit 3+ shops and compare offers
- Don't accept the first offer — negotiate
- Check reviews on Google/Yelp before visiting
- Avoid shops that won't tell you their price per gram upfront
Pros: Immediate cash, no shipping risk, face-to-face transaction Cons: Lower prices, limited to local options
3. Pawn Shops (Worst Option)
Pawn shops are convenient but offer the worst prices — typically 50-70% of melt value. They profit from uninformed sellers.
Only use pawn shops if: You need cash urgently and have no other option.
4. Peer-to-Peer (eBay, Reddit, Forums)
Selling directly to another buyer eliminates the dealer spread. You can often get 98-102% of spot for popular bullion items.
Platforms: eBay (highest reach, ~13% fees), r/Pmsforsale (Reddit, no fees but requires reputation), gold forums
Pros: Highest prices possible Cons: Fees (eBay), scam risk, time-consuming, must handle shipping
5. Gold Refiners (Best for Large Quantities)
If you have significant quantities of scrap gold (100g+), selling directly to a refinery gets you the best prices — typically 95-98% of melt value.
Major refiners: Metalor, Valcambi (Swiss), Republic Metals (US)
6. "We Buy Gold" Shops and Mail-In Services
These storefront and TV-advertised services target uninformed sellers. Prices are typically 50-75% of melt value.
Avoid these unless no other option exists. You're leaving 25-50% of your gold's value on the table.
What to Expect by Gold Type
| Type | Typical Buyback (% of spot) | Notes |
|---|---|---|
| 24K bullion bars (PAMP, Valcambi) | 97-99% | Highest buyback |
| Gold Eagle/Maple Leaf coins | 95-98% | Strong brand recognition |
| 22K jewelry (no gems) | 80-90% of melt | Purity verified by buyer |
| 18K jewelry | 75-85% of melt | Lower purity = lower offer |
| 14K/10K jewelry | 70-80% of melt | Scrap value only |
| Gold with gemstones | Varies widely | Stones often valued at $0 by gold buyers |
| Dental gold | 70-85% of melt | Typically 16K-22K |
Use our gold scrap calculator to estimate what your gold is worth before selling.
Tips to Get the Best Price
- Get 3+ quotes — Prices vary 10-20% between buyers
- Know the spot price — Check the live gold price before any negotiation
- Know your karat — Use our karat calculator to calculate melt value
- Sell bullion separately from scrap — Bullion gets better prices than scrap
- Don't clean your gold — Cleaning can damage coins and reduce collector value
- Time your sale — Gold prices fluctuate. If you're not desperate, wait for a strong day
- Keep documentation — Receipts prove cost basis for tax purposes
- Avoid pressure tactics — Any buyer who pressures you to sell immediately is likely offering below market
Tax Implications of Selling Gold
Gold is taxed as a "collectible" in the US:
- Held less than 1 year: Ordinary income rate (up to 37%)
- Held more than 1 year: Up to 28% (collectibles rate)
You need to report the gain (sale price minus cost basis) on your tax return. Keep purchase receipts as proof of cost basis. See our full guide: Is gold taxed as a collectible?
Frequently Asked Questions
Where can I sell gold near me? Search for "coin shops near me" or "gold buyers near me" on Google Maps. Check reviews and visit at least 3 shops to compare offers. Avoid pawn shops and "We Buy Gold" stores — they pay 30-50% less than reputable dealers.
How much will I get for my gold ring? A typical gold ring weighs 3-8 grams. At today's prices, an 18K (750) gold ring weighing 5 grams contains 3.75g of pure gold worth approximately $560 in melt value. A dealer will pay 75-85% of that — roughly $420-$475. Use our gold karat calculator to calculate your exact ring value.
Is it a good time to sell gold? Gold is near all-time highs in 2026, making it a favorable time to sell if you need to. However, most analysts expect further upside. If you don't need the money urgently, holding may be the better option. See our gold price forecast for analyst targets.
Do I need to report gold sales to the IRS? Yes. All gold sales are taxable events. Dealers are required to file Form 1099-B for certain sales (e.g., 25+ oz of Gold Maple Leafs, 1 kg+ bars). Even if no 1099 is filed, you're still required to report the gain.
This guide is for educational purposes only and does not constitute financial advice. Gold prices are volatile and dealer buyback prices vary. Always get multiple quotes before selling.