Where to Sell Gold
Live gold spot price with guidance on selling gold coins, bars, and jewelry for the best price. Know your gold's melt value before you sell.
Gold Melt Value Calculator
Calculate scrap gold and silver jewelry values using live spot prices
Input
Troy ounce (oz t) = 31.1035g
Karat = gold purity (24K = 99.9%)
Melt Value
Total Melt Value
$75.59
1 Gram of 14K gold
Weight
0.0322
troy oz
Purity
14.0K
58.5%
Pure Metal
0.0188
troy oz
Spot Price
$4,019.13
per oz t
Gold Karat Melt Values: 10K to 24K1 g
| Karat | Purity | Melt value |
|---|---|---|
| 99.9% pure gold | $129.09 | |
| 91.6% gold - Common in jewelry | $118.36 | |
| 87.5% gold - Middle Eastern jewelry | $113.07 | |
| 75% gold - Fine jewelry standard | $96.91 | |
| 58.5% gold - US jewelry standard | $75.59 | |
| 41.7% gold - Minimum for gold jewelry in US | $53.88 | |
| 37.5% gold - UK standard | $48.46 |
What Buyers Typically Pay for Gold
Typical offers by kind of buyer. Your own quote depends on the product, its condition and the amount you're selling.
| Buyer | Typical payout | Best for |
|---|---|---|
| Online precious metals dealers | 95-98% of spot | Government-minted bullion coins and LBMA-accredited bars |
| Local coin shops and gold dealers | 90-95% of spot | Coins with numismatic value, small amounts, same-day cash |
| Pawn shops and cash-for-gold stores | 50-70% of melt value | A last resort when you need cash right away |
Partner offers. We may earn a commission.
Know Your Gold's Value Before Selling
Before selling any gold, the single most important step is to calculate the melt value of what you own. Melt value is the intrinsic worth of the pure gold content based on the current spot price. The formula is straightforward: weight in troy ounces x spot price x purity factor. For example, a 14K gold ring weighing 10 grams would be calculated as: 10g / 31.1035 = 0.3215 troy ounces x spot price x 0.585 (the 14K hallmark purity) = melt value.
Any legitimate gold buyer should offer you close to melt value for scrap gold and jewelry, and above melt value for recognized bullion products like American Gold Eagles, Canadian Maple Leafs, and PAMP Suisse bars. These carry collector and brand premiums that reputable dealers will factor into their buyback offers.
Understanding melt value protects you from lowball offers. If a buyer offers significantly less than melt value without a clear explanation, walk away. Use the live spot price displayed above to calculate your gold's current melt value before approaching any buyer.
Keep in mind that karat purity directly impacts value. 24K gold is .999 fine (essentially pure), 22K is .916, 18K is .750, 14K is .585, and 10K is .417. Jewelry is almost always alloyed with other metals for durability, so knowing the exact karat stamp on your pieces is essential for an accurate valuation.
Online Precious Metals Dealers
Selling to an established online precious metals dealer is typically the best option for bullion coins and bars. These dealers operate at scale, maintain transparent buyback pricing tied to live spot, and offer a streamlined process. Most major dealers publish their buy prices on their websites so you can compare before committing.
Highest payouts: Typically 95-98% of spot price for standard bullion coins and bars, making online dealers the top choice for maximizing returns
Free insured shipping kits: Most reputable dealers send you a prepaid, insured shipping label or kit so your gold is protected in transit at no cost to you
Fast payment: Expect payment within 1-3 business days of the dealer receiving and verifying your shipment, usually via check or bank wire
Transparent pricing: Buyback prices are tied to live spot and published openly, so you know exactly what you will receive before shipping
Major buyback programs: Dealers like Kitco, APMEX, JM Bullion, and SD Bullion all operate established buyback programs with strong reputations
Best for: Government-minted bullion coins (Eagles, Maples, Britannias) and LBMA-accredited bars in original packaging
Local Coin Shops & Gold Dealers
Local coin shops and independent gold dealers offer the advantage of immediate, in-person transactions. You walk in with your gold, negotiate a price, and walk out with payment. This eliminates shipping risk and the waiting period associated with online sales. Building a relationship with a reputable local dealer can also lead to better offers over time.
Immediate payment: Walk out with cash or a check the same day, no waiting for shipments to be received and verified
Relationship-based pricing: Repeat sellers often negotiate better deals as the dealer comes to trust the quality and authenticity of their offerings
Competitive payouts: Typically pay 90-95% of spot for standard bullion products, which is reasonable given the convenience of instant payment
Numismatic expertise: Local dealers with numismatic knowledge may offer premiums above melt for rare, collectible, or key-date coins that online refiners would simply melt
No shipping risk: Eliminates the possibility of loss or damage during transit, which is a concern when mailing high-value items
Best for: Coins with potential numismatic value, small quantities, and sellers who want same-day cash without waiting
Pawn Shops & 'Cash for Gold' Stores
Pawn shops and storefront 'cash for gold' businesses are widely available but should generally be considered a last resort. These businesses profit from offering significantly below melt value to sellers who may not know the true worth of their gold. While the convenience is undeniable, the financial cost of that convenience is steep.
Lowest payouts: Often only 50-70% of melt value, meaning you could lose 30-50% of your gold's worth compared to selling through a dealer
Convenience factor: Useful only when you need immediate cash and have no time to explore better options
Limited expertise: Most pawn shops lack the numismatic knowledge to identify rare coins or collectible pieces, so everything is valued at scrap weight
Equipment concerns: Some operations use inaccurate scales or unreliable karat testing methods, which can further reduce your payout
Always get multiple quotes: If you must use a pawn shop, visit at least three different locations and compare their offers before accepting any deal
Negotiation is expected: Pawn shop offers are almost always negotiable, so never accept the first number they give you
Tips for Getting the Best Price
Regardless of which selling channel you choose, following these best practices will help you maximize the amount you receive for your gold. The difference between a well-prepared seller and an uninformed one can be hundreds or even thousands of dollars on a significant sale.
Always know the current spot price: Check the live price on this page before walking into any buyer's shop or requesting an online quote
Get quotes from at least 3 buyers: Competition works in your favor; having multiple offers gives you leverage to negotiate
Understand your gold's karat purity: Weigh your items on a gram scale and verify the karat stamp before visiting any buyer so you can calculate the expected melt value yourself
Separate bullion from jewelry: Bullion coins and bars are sold in a different market than jewelry and scrap, and mixing them can lead to everything being valued at the lower scrap rate
Keep original packaging and certificates: For bullion products, original mint packaging, assay cards, and certificates of authenticity increase resale value and speed up the verification process
Consider timing: While timing the market perfectly is impossible, selling when gold prices are near the all-time high ensures you are not leaving money on the table
Beware of hidden deductions: Watch for 'no-melt' fees, handling charges, assay fees, or excessive deductions that eat into your payout
Published by MetalCharts, a free precious metals resource providing real-time prices, dealer comparisons, and buying guides for gold, silver, platinum, palladium, and copper.
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Frequently Asked Questions
Where can I sell gold for the best price?
Online precious metals dealers typically offer the highest buyback prices for bullion, paying 95-98% of spot. For jewelry and scrap gold, compare quotes from at least 3 local buyers and one online dealer. Never accept the first offer from a pawn shop.
How much is my gold jewelry worth?
Calculate the melt value: weigh your jewelry in grams, divide by 31.1035 to get troy ounces, multiply by the current spot price, then multiply by the karat purity factor (14K = 0.585, 18K = 0.750, 22K = 0.916). Legitimate buyers should offer close to this melt value. Designer or antique pieces may have additional value beyond melt.
Should I sell my gold now?
Timing the market is difficult. Check how close the current price is to the all-time high. If you need cash, selling when prices are strong is reasonable. If you are holding for long-term wealth preservation, consider whether your reasons for originally buying gold still apply. This is not financial advice.
Do I have to pay taxes when I sell gold?
In the US, gold is classified as a collectible and subject to capital gains tax at a maximum rate of 28% for long-term holdings. Short-term gains are taxed as ordinary income. Dealers must file IRS Form 1099-B for certain transactions. Consult a tax professional for your specific situation.