Online Precious Metals Dealers
If you invest in gold, you might buy coins and bars from online precious metal stores. These dealers can purchase these items to replenish their inventory:
Bullion-grade coins can have the highest value as they are legal tender, and collectors desire them. Gold rounds can also be valuable. However, you can expect to receive less than a currency coin with similar weight and purity as a private mint strikes them. Deciding where to sell gold coins depends on your collection. You can easily compare the current buyback price on the various store websites. Some of the online stores to consider first include:
- Must pay shipping and insurance costs
- Potential selling minimum
We Are Houstons Most Trusted Jeweler For A Reason
We are the only gold buyer in Houston to:
- Win the BBB Award for Excellence multiple times
- To have an in house state of the art XRF assay lab
- Simultaneous analysis of all precious metals
- All of our scales are inspected and registered by the Texas Department of Agriculture
- Fast, easy, and accurate karat sorting results in less than 5 seconds
- Faster, more comprehensive than fire assay with comparable accuracy
How Much Commission Do Gold Buyers Take
Gold buyers make an average of 20% commission, though the portion varies. Arm yourself with an understanding of the day’s gold price to best negotiate the sale of your gold.
Gold prices this year exceeded $2,000 for only the second time in 50 years. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
Recommended Reading: Does Kay Jewelers Buy Gold
Know The Best Time To Sell Gold And When Not To Sell
Make sure you know the value of gold before selling. The best way to determine if you should sell your jewelry immediately or wait is to look at how investors are behaving.
When gold prices fall, investors buy more of it. This is bad for you! Wait until prices rise. Gold prices often rise when other types of assets, like stocks, fall.
When Is The Right Time To Sell Gold
The gold economy is always changing, so, being aware of the current prices will aid you in selling gold for the highest payout. Therefore, the perfect time to sell gold is when the market value is high. While you might get what you may feel is a decent price for your gold, it is always best to wait for the market value to increase before you proceed to sell gold for cash. Be sure to check online the current prices of gold so you can determine the best time to sell your gold piece. Whether you have unwanted gold jewelry, gold coins, or even scraps of gold, you can sell them for competitive prices. Remember, selling gold at the right time will maximize your payout.
Also Check: Kay Jewelers 19.99 Ring
Why You Can Trust Bankrate
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our investing reporters and editors focus on the points consumers care about most how to get started, the best brokers, types of investment accounts, how to choose investments and more so you can feel confident when investing your money.
The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal.
Sovereign Vs Private Mint
The second thing you should look for is whether you have government-backed currency or private mint bullion. Value and buyback prices could be different depending on what youre holding.
Sovereign mints are sometimes referred to as government mints or national mints. Products produced by sovereign mints are made for legal tender in that country. Oftentimes, there is face value associated with the product and an official legal tender status.
Private mints are privately owned and do not produce bullion for legal tender. With private mints, they make products with their own branding or designs, purity and metal content.
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How Much Is A Gold Bracelet Of 14k Worth
Like other precious metals jewelry your bracelet is worth as much as the weight of the gold x the karat. If it has stones, such as diamonds in a tennis bracelet, those gemstones may add value to the bracelet. Learn more about selling your bracelet online.For other kinds of jewelry with precious metals and gemstones, educate yourself about selling jewelry online before you accept any offer.
*10% bonus offer. Customers who send in their item 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.
How much is gold worth?
The resale value of your gold is based on the current market price of gold bullion but considers several other factors. The higher the percentage of gold in your jewelry or coin, the higher the value.
What is the best way to sell gold?
While there are certainly reputable local jewelers who can give you an honest gold resale price for your jewelry, coins, bullion or other items, selling your gold online with a reputable, online gold-buying business is convenient and should give you the most cash.
Should I sell my gold now?How do I sell my gold?How much does gold sell for?
Check The Markings And Make Sure Your Gold Is Real
Purity marks on gold tell you the percentage of pure gold, vs the amount of other metals mixed in the alloy. Pure gold is 24 carat, and will be marked 24K with K the abbreviation for carats.
These are the carat markings on gold jewelry, and the purity of gold they represent. This stamp is typically either a carat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside. Here is the meaning of those numbers:
999 = 24 karat, 99.9% gold
990 = 22 karat, 99% gold
916 = 22 karat, 91.6% gold
750 = 18 karat, 75% gold
585 = 14 karat, 58.5% gold
375 = 9 carat, 37.5% gold
A piece of gold jewelry or gold coin 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. More on selling gold coins here.
Gold bars and gold bullion are nearly always 24K gold.
How to tell if gold is real with a lighter. Hold your gold jewelry or coin to the steady flame of a lighter or oven . Real gold will get bright hot after a while, but will not darken. Fake gold will darken or otherwise change color when exposed to fire. Also, if the piece is gold-plated , the thin gold plating will melt, revealing the inner metal.
Float test. Real gold will not float, and will not rust. Drop your gold into a glass of water. If it floats, it’s fake.
Skin test. Real gold jewelry will not turn your skin black or green.
Recommended Reading: Do Zales Sell Fake Jewelry
How To Sell Gold Jewelry
This article was co-authored by Kennon Young and by wikiHow staff writer, Kira Jan. Kennon Young is a Gemological Institute of America Graduate Gemologist, an American Society of Appraisers Master Gemologist Appraiser, and a Jewelers of America Certified Bench Jeweler Technician. He received the highest credential in the jewelry appraisal industry, the ASA Master Gemologist Appraiser, in 2016.There are 14 references cited in this article, which can be found at the bottom of the page.wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 15 testimonials and 100% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 292,170 times.
How can you sell your gold jewelry without getting ripped off? The world of buying and selling gold can seem intimidating, but well teach you how to sell your jewelry in a smart, savvy way. Well go over the pros and cons of selling to jewelry stores, pawnshops, professional gold buyers, and online services. Then, well let you in on how much much money you can expect to get from selling your gold jewelry and how to get the highest possible price.
Check The Price Of Gold
Gold prices have been hovering at a 7-year high. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold.
You can also find historical gold prices at Kitco.com. However, it may be futile to try to time the market and sell gold high. Cash in hand today is worth much more than waiting a few weeks or months to see if the price increases a little.
Also Check: How Much Does A Brick Of Gold Weight
Where Can I Sell My Gold
When it comes to selling gold, there are several options to choose from. Everyone has different requirements, so being knowledgeable about your choices will help you decide which is the best place for you. Whether youre thinking about selling your gold at an auction, to a private buyer, or just selling gold online, there are advantages to each.
Selling gold at an auction: Buyers at auctions usually pay full price, but be prepared to wait all day for your bid.
Selling gold online: While this is a fast option, there is high security risk involved.
Selling gold to a private buyer: Though it may take time to find a gold buyer you trust, once you do, selling to a private buyer is time efficient, reliable, and provides a great cash payout.
So, the next time you think to yourself, Where can I sell my gold?, keep these options in mind and you will find a much more reliable path to get the best value.
Remember, knowledge is power.
Where To Go To Sell Your Gold
Little pop-up walk-in gold stores have flooded my town over the past several months. They are literally everywhere.
The problem with so many options is deciding where to go to get the most for your gold. To make things even more difficult, there are many people out there trying to rip you off, and the resulting losses could be huge.
What Im going to do is outline the options that you have and guide you a little as far as which direction to go in:
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How And Where To Sell Unwanted Jewelry Without Getting Scammed
If your jewelry box is a tangle of bling you no longer wear, you may be able to turn those baubles into a car payment, a vacation, a bathroom remodel whatever you value.
To get the most out of your unwanted jewelry, you need to know what the jewelry is worth and where you should sell it. You also need to know yourself. How much effort do you want to put into selling your jewelry? asked Martin Fuller of in McLean, Va., who is a master gemologist and senior accredited appraiser. Its a balance of what your time is worth and what you might recoup selling your jewelry.
To truly know the value of what you are selling, you should get an appraisal by a member of the American Society of Appraisers, the International Society of Appraisers or the National Association of Jewelry Appraisers. Members of all three groups have to adhere to standards and ethics. Appraisals range from $150 to $350 per hour. To give you an idea, a simple diamond ring might take about an hour to appraise, whereas one with multiple diamonds and an elaborate setting might take more than three hours. Some appraisers charge by the item, but under no circumstances should an appraiser charge you a percentage of the items value.
An appraiser can also tell you whether your jewelry is best sold as-is or for scrap. Some jewelry by well-known designers is more valuable intact.
Open Your Own Cash For Gold Dealership
You may also wish to open your own business buying and selling gold. This requires some capital up front in order to get supplies, like gold testing kits and a professional scale. You will also need to have enough gold items to sell on your own.
Finally, if you are not going to melt and purify the gold yourself, which takes special expertise, youll want to ensure that you can attract enough customers to purchase the gold. A simple way to do this is through a site like Etsy for vintage jewelry.
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Selling Gold Jewelry For Cash: Takeaways
When youre looking to sell gold, the best place to sell is online. A brick and mortar jewelry store cant buy gold for the high prices that a website can.
My top tips for selling jewelry online? The best way to sell your gold for cash directly is to use cashforgoldusa.com, while the best auction site for your pieces is Worthy.com
Have you sold gold online or in a jewelry store before? Share your tips!
Selling Gold Jewelry And Coins Can Be Daunting With Hucksters Abounding Heres How To Avoid Being Scammed
Youve got some gold you want to sell. Some of your late aunts jewelry, maybe. Or your grandpas coin collection. Some old earrings that dont have partners anymore. Or a really hideous bracelet you never wear. You could use the cash much more than the knotted lump of old chains in your jewelry box. But selling gold can be intimidating.
We’re sure you’ve seen the signs promising quick cash for gold. What about an online buyer? Maybe you got a mail solicitation. Authorities warn about ripoffs, and knowing how to get a fair price in a volatile market is a challenge. But if you have some gold jewelry or coins or other gold you would rather cash in, there are ways to sell it safely and for the best price.
The key to this transaction is your comfort level and trust that the person youre selling to is reputable. So one of the first rules is to do your research and shop around.
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Estimate Your Golds Value
Before doing anything else, take the time to estimate the value of your gold. However, this can be a bit of a complicated process because you have to account for the purity of your gold and golds changing value.
To start, sort your gold by purity, grouping each karat level. Once youve organized everything, weigh each group on its own, then multiply the weight you get by the purity of gold it contains.
You can put together a table like this to help with the process:
- 24 karat 99.9% pure
Ounce you know how much pure gold you have, you can multiply the weight by the current value of gold.
While youll have trouble getting the full value of your gold from most buyers, this will give you a ballpark measure of the price that you should get.
For example, if you have 14 ounces of gold and gold is selling for $1,300 per ounce, youll know that your metal is worth $18,200.
If you get an offer for $4,000, youll know its a bad deal. If the offer is for $16,000, its much more reasonable.
If Selling Gold to Be Melted Down, Make Sure It Is Not Worth More As-Is
If you plan to sell gold to a gold dealer that is primarily interested in its value as a precious metal, make sure that any jewelry or other gold items youre selling arent worth more than the gold they contain.
Antique jewelry can be worth far more than the gold it contains due to its historical or artistic value, and you might get a better deal from a specialized buyer of antique goods.
Shop Around For The Best Deal
Once you have a rough idea of what your gold is worth, you shouldnt accept the first offer you get thats close to the right number. Take the time to look up multiple gold buyers and shop around.
Dont be afraid to take your collection to several buyers and have them give you an offer. Making buyers compete usually means youll get a better deal.
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Best Overall: Money Metals Exchange
Money Metals Exchange
The combination of highly competitive prices, low shipping costs, vast product selection, and an exceptional customer experience lands Money Metals Exchange on our list as the best overall online gold dealer.
Free shipping on orders of $500 or more
Prepackaged starter portfolios for beginning investors
Automated monthly savings plan
Low purchasing limits for check and PayPal payments
Shipping can be slow
Founded in 2010, Money Metals Exchange has quickly amassed a customer base of more than 250,000 customers. Its customer-centric focus has translated into highly competitive pricing, personalized service, a pathway for new investors, and one of the best online reputations, making Money Metals Exchange our choice as the best overall online gold dealer.
Customers can easily navigate its website to shop for coins and bullion by category and weight. Beginning investors can get their feet wet in gold investing with an automatic monthly savings plan starting at $100 a month or by purchasing a prepackaged portfolio. Otherwise, its pricing is highly competitive, with its Gold Eagle 1 oz. coin selling for $1,977 as of Dec. 1, 2021, a 10.9% mark-up from the $1,782 spot price at the same time period.
Money Metals has earned an A+ rating from the Better Business Bureau .