Sell Gold for Cash
Selling gold is easy — getting a fair price takes a little know-how. This guide shows you what your gold is really worth, where to sell it, and how to avoid being underpaid.
Know what your gold is worth first
The single biggest mistake sellers make is walking in without knowing their gold's value. Before you accept any offer, find the melt value— the worth of the pure gold in your item based on its weight, purity (karat), and today's price.
Where to sell gold — your options
- Dedicated gold buyers / refiners: usually pay the most for scrap and broken jewelry because they buy on metal content.
- Local jewelers: convenient and good for resellable pieces; offers vary widely.
- Coin & bullion dealers: best for gold coins and bars, where premiums matter.
- Pawn shops: fastest cash, but typically the lowest offers.
- Online mail-in buyers: competitive pricing and convenience — use only insured, reputable services.
No single option is best for everything. Match the buyer to the item, and always compare at least two or three offers.
How buyers decide what to pay
A buyer starts from the spot price, adjusts for your item's purity and weight to get the melt value, then subtracts a margin for refining and profit. That's why a real offer is below melt value — usually 60–85%for scrap and jewelry. Knowing the melt value turns a vague "we pay top dollar" into a number you can actually judge.
Selling step by step
- 1. Check today's price so you have a baseline.
- 2. Weigh & sort your gold by karat and calculate melt value.
- 3. Get multiple quotes and compare them to the melt value.
- 4. Pick the right buyer for your item type.
- 5. Close safely — bring ID, get an itemized receipt, don't be rushed.
Red flags & how to avoid being underpaid
- A buyer who won't show you the weight or the spot price they're using.
- Pressure to decide immediately or "today only" pricing.
- Weighing all your gold together at the lowest karat.
- Offers far below the melt value with no explanation of the margin.
- No receipt, no ID check, or no clear return policy on mail-in deals.
Guides for specific items
- Sell gold jewelry — rings, chains, and bracelets
- Sell gold coins — bullion and collector coins
- Sell sterling silver — .925 jewelry and flatware
- Sell a diamond ring — metal plus the stone
- Sell a luxury watch — brand and condition matter
Prefer to sell in person?
See how to find and compare local buyers with our sell gold near me and cash for gold near me guides, or read our Virginia gold-selling guideif you're in the DC/NoVA area.
Frequently asked questions
Where is the best place to sell gold?
It depends on your item. Dedicated gold buyers and refiners usually pay the most for scrap and broken jewelry; specialist dealers are best for coins, diamonds, and luxury watches; pawn shops are fastest but often pay the least. Always get two or three quotes before selling.
How much will I actually get for my gold?
Expect roughly 60–85% of the melt value for scrap and jewelry, depending on the buyer and quantity. Calculate the melt value first with our gold calculator so you can recognize a fair offer.
Do I need an appraisal before selling gold?
For plain gold jewelry, no — the value is based on weight and purity, which any buyer can measure. For diamonds, designer pieces, collectible coins, or luxury watches, an independent appraisal or authentication can significantly increase what you're offered.
Is it safe to sell gold online by mail?
Reputable mail-in buyers offer insured, trackable shipping and a stated return policy if you reject the offer. Photograph and weigh everything first, use insured shipping, and only deal with established companies that publish their pricing and terms.
What paperwork do I need to sell gold?
Most buyers require a government-issued photo ID, and many US states legally require dealers to record the transaction. Keep a receipt showing the weight, purity, price paid, and the buyer's details.