Gold prices pushed past the $2,424.32 mark on April 12 and analysts expect price push to new highs.12
As of Apr 26, 2024, the spot gold value in the United States was trading at $2338.19 per ounce, or $75.17 per gram.
Simply put: Now is a great time to sell gold.
Whether you have gold jewelry, scrap, coins or bullion, you have several safe, quality options for selling your gold. This post outlines the best ways to sell your gold based on our writer's first-hand experience shopping it around — to both online and local gold buyers.
- How not to get ripped off selling gold (what our writer found)
- Best online gold buyers
- Pawn shops
- Local gold buyers and coin dealers
- Local jewelry stores
- Selling gold FAQs
How not to get ripped off selling gold
Whether you sell online or locally, there are some general guidelines for making sure you work with an honest company that will make you a fair offer — and there are plenty out there, says David Atlas, vice chair of ethical issues and associate director of the National Association of Jewelry Appraisers.
“There are people who are altruistic and will be helpful,” Atlas told me. “A retailer who lives in my town is really fair with people. She listens to their story and like a lot of gold buyers who are sympathetic, offers people 70% to 75% of the value of their item, which is very fair.”
A key to getting a fair deal is to understand the weight and karat of your gold, and how daily spot prices are factored into payouts. Read our FAQs about how gold prices work and tips for selling gold.
Then:
- Research a quality gold buyer. This may be a local pawn shop, “We Buy Gold” outfit or a jeweler in your community. There are also a number of quality online gold buyers. Check the businesses's reputation:
- Online reviews from Yelp, BBB, Google
- Ask friends and family for recommendations
Note: in our research, local pawn shops often offer very competitive payouts with friendly customer service.
- Shop around and negotiate. Do not be shy to ask for a higher payout and leverage one buyer's offer against the other for the best deal. Start with: “Can you do better?”
Our writer secret-shopped selling a 10k gold chain bracelent and here are the results:
| Gold buyer | BBB rating | Business type | Final offer | % of spot gold price* |
| CashforGoldUSA | A+ (accredited since 2020 | Online gold buyer | $41.49 | 67% |
| Alloy Market | A- (accredited since 2023) | Online gold buyer | $41.49 | 66% |
| Raleigh Gold Jewelry | A+ (accredited since 2008) | Jewelry store | $40 | 64% |
| National Pawn | A+ (not accredited) | Pawn shop | $50 | 79.5% |
| JewelRecycle | A+ (accredited since 2009) | Local gold buyer | $51 | 80% |
Best places to sell your gold online
While there are many reputable local businesses that can give you an honest gold resale price or trade-in value for your gold jewelry, gold coins, gold nuggets, watch, gold bullion or dental gold, selling gold online is increasingly common, as more and more quality gold buyers have made it easy to safely get paid without leaving home.
Other reasons many people opt for selling gold to an online buyer:
- More convenient and private than driving around to area businesses
- Private. It can be embarrassing to have to sell your valuables.
- An established online gold buyer will have a robust online presence you can research: reviews and ratings from Trustpilot, BBB, Yelp, Facebook, and more. Many more data points to use to vet your buyer than a typical local business.
CashforGoldUSA:
CashforGoldUSA is a family business established in 2005 outside of Boston that buys the widest breadth of gold, silver and diamonds in the industry, pays within 24 hours and insures your item up to $100,000. Focus on customer service and speed to payment.
BBB Rating: A+, accredited since 2020
Read our CashforGoldUSA review.
Sell your gold now with CashforGoldUSA >>
Other quality companies that buy scrap gold online, listed alphabetically:
Abe Mor
Abe Mor is a family business established in 1969 in New York City’s Diamond District, and focuses primarily on buying and selling diamonds of at least .5 carats wholesale through retailer jewelers, though they are also a reputable place to sell gold with a resale value of $1,000 or more.
BBB Rating: A+, accredited since 2016
Read our Abe Mor review.
Similar companies that also buy and sell diamonds:
JM Bullion
JM Bullion is arguably the leading buyer and seller of consumer metals — coins, bullion, and metals IRAs in gold, silver, platinum, copper and very unique coins, such as a 2023 JFK Half Dollar Black Ruthenium Set ($19.99) and 2022 Colorized American Women Quarter 5-Coin Set ($20.95) on sale at the time of this writing. Minimum sale value of $1,000.
BBB Rating: A+, accredited since 2014
Other trustworthy companies that deal in buying and selling consumer metals bullion include:
- APMEX
- Money Metals Exchange
Luriya
In business since 1995, Luriya is an online gold buyer headquartered in Manhattan’s Diamond District, with other locations in Queens and Brooklyn.
You can request a free mailer from Luriya via FedEx 2nd day shipping, automatically insured for up to $1,000 (and up to $1 million), or schedule an in-person appointment to have your items appraised. Luriya reports its offices are under 24/7 surveillance by a private security team.
BBB Rating: Not rated, though they have 4.7 stars on Google
The Alloy Market
Alloy is a new player in the online gold buying space, with a modern design that stands out from its competitors. Otherwise, their proposition is the same as others in this space: Secure, free shipment, free returns, highest guaranteed offer.
BBB Rating: A-
US Gold Buyers
US Gold Buyers is a GIA-certified jewelry appraiser with a physical location in Boca Raton, Fla., though they also do business online. When you submit the form on the US Gold Buyers website, you’ll receive a free FedEx overnight label in your email, which is trackable and insured for up to $25,000 (or more upon request).
BBB Rating: A+ (accredited since 2016)
Best place to sell gold online: CashforGoldUSA
Among multiple good options, one reliable, safe, fast and quality place we confidently recommend selling any type of gold is online buyer CashforGoldUSA — one of the oldest online gold buyers with quick payment, strong customer service and many options for shipping and payment.
We vetted gold sellers based on pricing, speed, reputation, safety and value. Here are the questions we ask and what we learned:
Sell your gold to pawn shops
Many people prefer to sell their gold or jewelry locally to a business they know and trust — and get their cash immediately without messing around with the mail or FedEx.
A reputable pawn shop can be the closest place to sell gold if you need cash quickly and prefer to do business locally with people you know. Ask around for a recommendation, check online reviews and get a few quotes. Don't be afraid to negotiate or walk away if you don't feel their offer is fair.
Of course, pawnbrokers also give you the option of getting back your gold within the terms of the loan.
Our secret-shopper experiment on selling gold found that pawn shops, as well as other local gold buyers in your community, can offer high payouts and friendly, helpful service.
Search for a pawn broker that buys gold in your community:
If you have gold jewelry worth at least $800 that you really don't want to sell, but need the cash, you might consider a jewelry loan — which is essentially the same as pawning your jewelry, but through an online vendor. Learn more about where and how to get a loan on jewelry in 2024
4. Sell to local gold buyers or coin dealers
Many communities have roadside businesses advertising “Cash for Gold,” “We Buy Gold,” “Gold and Silver Exchange,” and “Metals Exchange.” These businesses typically lose out to pawn shops in terms of price since pawn shops can be larger, more established businesses with deeper community reputations to maintain.
Our writer's secret shopping gold experiment revealed that her local “We Buy Gold” outfit offered the highest payout.
It never hurts to get a quote from one of these buyers, which you can use to validate another offer or negotiate a higher payout:
Meanwhile, coin dealers typically buy gold scrap, in addition to rare coins and coin collections.
5. Sell gold to local jewelry stores
The first place many people go to sell their gold is a jewelry store. You may have a relationship with such a local jeweler or trust one in your town. Some jewelers offer store credit in exchange for your item, and you may prefer to do business locally, with someone you know.
In our secret shopping gold experiment a local jeweler made a decent offer.
Many jewelers will offer you a higher sum for credit in their store vs. a cash payout.
Gold price and selling FAQs
When you decide you are ready to sell your gold items, it helps to understand the terminology and what influences the value of gold.
What is the gold spot price? Is it different from melt value?
Gold spot price is calculated as the average net value of all currently traded gold futures for the next month.
The melt value is calculated by the amount of the precious metal multiplied by the spot price of the gold. If you melted down the gold pieces and sold them as raw materials, the melt value is what that gold is worth right now.
As of Apr 26, 2024, the spot gold value in the United States was trading at $2338.19 per ounce, or $75.17 per gram.
How much do you get for selling gold?
Ultimately, gold sells for what someone will pay for it, typically the spot gold price, multiplied by the weight and karat, minus a commission. Depending on whether you sell or pawn, online or offline, try to negotiate your gold sale.
For gold bullion — coins or bars — expect 90% to 95% of the current spot price.
For jewelry, expect to receive about 60% to 80% of the melt value. At the current scrap gold rates, a typical gold wedding band or gold class ring is worth between $100 and $300, depending on the weight and karat.
As of Apr 26, 2024, the spot gold value in the United States was trading at $2338.19 per ounce, or $75.17 per gram.
Why do gold prices fluctuate? What causes the price of gold to go up?
Gold is like any other asset: stocks, real estate, even human labor. When there is more demand, prices go up. When there is less demand for gold, prices go down.
Typically, gold has been considered a safe investment, so when there is a lot of volatility in the economy or stock market, investors tend to favor gold.
Historically gold prices increase when:
- The stock market is down
- Times of economic and political instability
- Other safe-haven investments like bonds and investments in the U.S. dollar are down
- The higher the gold price, the more people tend to want to buy — which drives gold prices up further
Gold prices have steadily risen in recent months and continue to hit record highs — the most recent of which occurred on April 3 when gold surged past $2,300.
You can get an idea of the price of your gold with a gold calculator, which factors in the current price of gold before the gold buyer's commission:
Your offer will depend on your appraisal, the melt price of gold, and what the buyer feels like offering.
In any market, cash in hand today is worth much more than waiting a few weeks or months to see if the price increases a little. Overall, gold prices have been near record highs, so you will get a decent return if you sell soon.
What are gold futures?
Meanwhile, gold futures prices serve as the basis for the LBMA Gold Price, which is based on contracts for the physical delivery of a specified amount of gold on a set date in the future, and determined by predicted changes in supply and demand, the estimated cost of transporting and storing gold.
Is now a good time to sell gold? When is the best time to sell gold?
Gold prices have been high over the past two years and continue to hit all-time highs into April 2024.
Analysts predict that while precious metals prices may be volatile this year, they will remain strong. That means now is a good time to sell gold.1
However, in any market, the best time to sell gold may be purely personal: when you need cash the most. Again, it is better to have cash that you very much need to pay essential bills like rent, a car note, or utilities than hedging.
It can also make sense to sell gold for other investments, including stock funds in a retirement account, in real estate, or even on education or new business expenses.
Also, it may make sense to sell your gold and buy stocks or an index fund to take advantage of the down stock market.
Who pays the most for gold?
The only way to guarantee that you will get the absolute highest price for your gold at any moment is to shop it around, locally and online. The offers can vary widely, and change day-to-day as gold prices fluctuate.
Pro tip: No matter where you sell your gold, always negotiate. Online buyers that invest in sending you a mailer are especially incentivized to offer you a higher payout, vs having to pay to return your item to you.
Our exercise found that local businesses like pawnbrokers and gold buyers made good offers with friendly service.
What's the fastest way to liquidate your gold?
The fastest way to get cash for your gold is to walk into a pawnshop or local gold dealer and take what they offer — which may or may not be a fair price — but will get you cash within about 15 minutes. This can be a great option for a lot of people, especially if you trust your pawnshop and like to support local businesses.
However, you can get money for your gold within a few days without leaving the house by selling online. Especially if you are willing to negotiate, any of these methods could net a very strong price.
What's the safest way to get cash for gold?
Unlike years past, today there are reputable online buyers who ensure that your item is safe and trackable throughout the selling process. All of the leading gold buyers offer 100% free door-to-door free, trackable FedEx or USPS shipping, free insurance — typically up to $100,000, and a guarantee your item will be returned to you promptly, free of charge without question.
Stories of people's gold going missing en transit are rare.
What are the markings on my gold jewelry?
These are the karat markings on gold jewelry, and the purity of gold they represent:
- Gold with an etching or stamp or hallmark that reads “18K” or “750” indicates that it is made up of 75% gold
- A “14K” or “585” mark means the metal is made up of 58.5% gold. This stamp is typically either a karat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside
- Gold with an etching or stamp or hallmark that reads “18K” or “750” indicates that it is made up of 75% gold, while a “14K” or “585” mark means the metal is made up of 58.5% gold
Here's a guide to deciphering the symbols stamped on jewelry.
As of Apr 26, 2024, the amount of gold per karat in yellow gold, assuming a price of $2325.65 per troy ounce:
| Stamp | Purity | % gold | Spot price |
| 999 | 24 karat | 99.9% | $2325.65 |
| 990 | 22 karat | 99% | $2131.92 |
| 750 | 18 karat | 75% | $1744.24 |
| 585 | 14 karat | 58.3% | $1356.55 |
| 375 | 9 karat | 37.5% | $872.12 |
Gold bars and gold bullion are nearly always 24K gold. Learn more about selling your gold bars and bullion.
Determine the weight and karat of your gold by looking for markings and using a scale — like this one from Amazon that sells for about $10. You can also stop into a pawn shop, or local jeweler and ask them to weigh your gold (they should do it for free).
Learn how to tell the difference between common jewelry metals in these posts:
Sterling silver vs. plated silver vs. white gold
If your gold jewelry comes from a high-end jeweler like Tiffany, Cartier, or David Yurman, or is otherwise unique, it could be worth more than its scrap metal value. A jeweler can provide you with a jewelry appraisal, which can help you determine the value of the items you have and where to sell them. These typically cost $150 or more.
Is my gold real?
Gold is usually an alloy, meaning a mix of gold with other metals. Reference this guide to determining whether your gold is fake or real for more.
- Pure gold is 24 karat, and will be marked 24K — with “K” the abbreviation for karats
- Real gold will not float and will not rust.
- Pure gold is not magnetic
Can you make money selling gold?
Gold has been one of the best investments over the long-term. Current gold prices are high, sitting above $2,400 per ounce, so now is a great time to sell.
Many people are selling their gold and parking their cash in savings accounts and CDs, as 5% APRs are now common.
What's worth more, gold or diamonds?
Gold is a far better investment than diamonds.
Jewelry with diamonds can also bring more — but only if those stones are large and of high quality. Often, the gold is the most valuable part of a piece of jewelry, especially if it has gemstones or pearls, which have very low resale value.
Overall, gold is a much better investment than diamonds, which have always had a high retail markup and are now tumbling in price thanks to the pressures of lab-grown diamonds,
Is it safe to sell gold online?
Reputable gold buyers guarantee safety through trackable shipping and coverage through reputable insurers. All the buyers featured in this post are reputable and have taken measures to make your transaction safe.
Bottom line: Where is the best place to sell gold jewelry?
Cash is king. If you aren’t using your gold jewelry or you have gold coins lying around, it may be a good time to sell, regardless of prices. If you need the money right away, a pawnshop or gold buyer in your community with a good reputation can help.
If you have a few days, we recommend our choice for best gold seller, CashforGoldUSA, which specializes in buying gold and has a 100% highest-price guarantee and pays within 24 hours of an accepted offer.
Sources
- “Nothing's stopping gold, prices push above $2,300 as Powell strikes neutral tone but still signals rate cuts this year,” by Neils Christensen, Kitco. April 3, 2024. https://www.kitco.com/news/article/2024-04-03/nothings-stopping-gold-prices-push-above-2300-powell-strikes-neutral-tone
- “What Will Happen To The Gold Price In 2024 – Octa Forecast” by Ang Kar Yong, Yahoo! Finance, March 7, 2024. https://finance.yahoo.com/news/happen-gold-price-2024-octa-141038380.html
*10% bonus offer. Customers who send in their item(s) within 7 days of receiving the shipping materials will automatically receive an additional 10 percent bonus on top of the appraisal value of their items, compared to standard pricing. Total payout may not exceed melt value of items. The 10% bonus offer is not valid or able to be combined with any other special offers.
April 3, 2024, spot gold hit an all-time high of $2,295 per ounce, or $80.98 per gram.
Yes — gold prices surpassed $2,300 in April 2024 and are expected to keep climbing.
Expect to receive 90% to 95% of the current market value or spot price if you’re selling gold coins or bars, and closer to 60 or 80% for gold jewelry or other scrap.
If you need the money right away, a pawnshop or local gold buyer with a local reputation can help. If you can wait a couple days, an online gold buyer can be best. Shop around and negotiate.
The best place to sell your gold is online. But before selling its advisable to do research on current market price to get the best for your gold
100% great advice
Thank you. I learned a lot about selling gold
How do I measure how much my gold weighs before I send it? What % does the company keep of the sale?
A local jeweler, pawn shop or cash for gold exchange can weigh it for you!
If you choose to try an online jewelry or gold buyer, check its reputation with the Better Business Bureau. Also read the fine print of its website so you understand what you’re getting into. Look for things like how much time you have to respond to an offer before the buyer considers it a done deal and how long it will take for the buyer to pay you. Take photos of your jewelry before shipping it. And send it insured with a delivery method that proves the company received it.
I have a collection of Bradford and other exchange purchased commemorative gold, silver and platinum coins that a relative left me when she died. How do you sell these? Also in the collection are 5 St. Gaudens $10 gold coins of various dates. From my research, these do not seem rare so I guess a melt value makes sense. Any thoughts?
You can send them to CashforGoldUSA and they will tell you what they are worth. If you don’t want to sell, they will send the coins back to you for free – pretty low-risk.
I liked that you mentioned that gold coin bullion can be sold the same as other scrap gold and a bar is better sold to a local dealer. My aunt has a lot of coins and other gold and silver bullions that she wants to get rid of or sell. I’ll be sure to share this article with her so she can get the right price for each of her gold.
It is a great time to sell – Gold is around an all-time high!
I’m interested in selling gold