You might unknowingly have an untapped source of cash just lying around your house. Accessories you don’t wear anymore, jewelry gifts from an ex, old coins, and other such items could be sold as scrap gold. With gold prices up roughly 20% since 2011, now is the time to take advantage of it.
Table of Contents
- What Is The Best Place Online To Sell Gold?
- Where To Sell Gold: Should I Sell Online Or To Gold Buyers Near Me?
- What You Should Know About Selling Gold
- Where Do I Find Gold Buyers?
- What’s The Best Way To Get Cash For Gold?
- How Do Online Gold Buyers Compare To The Gold Places Near Me?
- Variety Of Choice: Your Options For Local Physical Stores Are Limited
- Where Can I Sell My Gold Near Me?
- How Much Is Gold Actually Worth?
- How Much Money Can I Get For My Gold?
- How Do I Check The Current Price Of Gold?
- Is It A Good Time To Sell Gold?
- Can I Make Money By Selling Gold?
- How Much Money Does Gold Usually Sell For?
- Is It A Good Idea To Sell Gold For Cash?
- Gold FAQs
- Gold Prices FAQs
- Gold Buyers FAQs
- Gold Bullion FAQs
- Gold Coins FAQs
- Gold Jewelry FAQs
- Scrap Gold FAQs
- Raw Gold FAQs
- Can I Sell Other Precious Metals?
- Can I Get Cash For Selling Silver?
- Silver FAQs
- Can I Sell My Platinum?
- Can I Sell Rhodium?
- Can I Sell Palladium For Cash?
What Is the Best Place Online to Sell Gold?
Before diving into our gold selling guide, one of the first considerations is figuring out the best place to sell gold to. Not all buyers are equal, and to maximize your offer, finding and working with a reputable, trustworthy, and experienced team can minimize common pitfalls and issues sellers might experience.
We can confidently say that Cash For Gold USA is the #1 place to get cash for gold and jewelry online. Here’s why:
- We guarantee our customers the highest price for gold, coins, diamonds, and more.
- We make all payments within 24 hours.
- We provide free shipping materials that can be picked up from your door.
- We’re insured by Lloyd’s of London for up to $100,000.
- We pay 3 times more cash for gold than our competitors, as confirmed by Fox 5 News.
- Items shipped to us within 7 days receive a 10% bonus over estimated gold resale value.
Where to Sell Gold: Should I Sell Online or to Gold Buyers Near Me?
We’ve all seen signs for local cash-for-gold businesses, pawn shops, and jewelers who will buy unwanted jewelry and precious metals. They may be perfectly reputable, but being close by isn’t an indicator of quality or trustworthiness. You’re also working with a relatively small set of options based solely on location.
When you sell your gold online, you have access to a wider variety of companies from the comfort of your home. In this case, you can choose the best buyer for you—not just the best one within 25 miles. Online buyers also don’t have the overhead costs of running a brick-and-mortar store, so they’re more able to offer higher prices. There’s also strong competition online, which can drive up the amount they pay.
What You Should Know About Selling Gold
Sellers have a lot of questions when it comes to their gold items. This resource covers all the common questions below as well as FAQs on gold value, price, etc. and other precious metals.
- Where do I find gold buyers?
- What’s the best way to get cash for gold?
- Where can I sell gold for cash near me?
- How much does gold sell for?
- How much is gold actually worth?
- How much money can I get for my gold?
- How do I check the current price of gold?
- Is this a good time to sell gold?
- How much money does gold usually sell for?
- Is it a good idea to sell my gold for cash?
- Can I sell other precious metals?
- What is the best place to sell gold?
- Who buys gold dust?
- How is gold weighed for cash?
- How much money is a brick of gold worth?
Where Do I Find Gold Buyers?
There are many ways you can sell your gold for cash. Different methods and buyers vary, and some may be more reliable or fair than others. There are three primary buyers for gold right now, including:
- Pawn shops
- In-person cash-for-gold exchanges
- Online buyers of gold and jewelry
In the past, it was more common for banks to buy and sell gold bars and bullion as part of their business. This is not typical today, and there are only a few banks that still deal in gold. You’d have to check with your bank to find out whether they do so.
What’s the Best Way to Get Cash for Gold?
Jewelry shops, pawnbrokers, and other such traditional retailers can buy your gold jewelry, bullion, coins and other unwanted items, but your best bet is to sell your gold to a reputable online gold buyer.
Why is selling gold online a preferred method for many sellers these days? It’s because online companies offer benefits such as:
- Convenience: You don’t have to drive between locations or go back and forth between shops to compare and contrast offers.
- Greater competition and better choice: Online companies can buy gold from anywhere, giving you your choice of buyers nationwide. Competition will also increase the amount companies are willing to pay for gold.
- Better transparency and credibility: Online reviews, ratings, and information about certifications and verifications can give you a better overall look at the company’s reputation and history.
- More tools for your benefit: Our gold buying company offers a convenient online calculator that can help you estimate the rough value of your items. If you decide not to pursue an official quote, you’ve saved yourself the hassle of mailing and returns.
How Do Online Gold Buyers Compare to the Gold Places Near Me?
In decades past, traditional businesses with physical brick-and-mortar stores were the primary option for people looking to sell their unwanted gold coins, jewelry, and other precious metal items. As the internet and e-commerce have continued to grow, online gold buying businesses have not only become more prevalent, but they’ve also become quite reliable and respected in the industry.
There are many ways in which online gold companies and in-person stores like pawn shops differ. The following are examples of some of the most critical differences.
Location and Customer Reach: Online Gold Buyers Can Work with You Anywhere, Anytime
When you sell your gold at a physical store location, you have to do the work of getting ready, driving to and from different stores, and driving home again. You might need time to think things over at home before selling, which means you’ll have to go out at least once more to actually sell your items. If you have limited mobility or simply don’t want to go through the hassle, online gold selling is an ideal choice for you.
Not only is it faster and more comfortable to sell your gold from home online, it’s also something you can do without worrying much about business hours. Unlike a physical store you can only access during a certain period, online buyers can be contacted by customers at any time.
Many online companies still have set hours of operation during which they process things and reply to customers, so you may have to wait for a response. However, you can still submit information and explore your options at whatever time is comfortable for you.
For example: At Cash For Gold USA, customers can fill out the form on our website 24/7 or send us an email at any time of day. We’ll receive those messages during operating hours and respond appropriately in a practical amount of time. With us, you can do in minutes what could take you an hour or more in person.
Pricing: In-Person Buyers Have Expenses That Can Limit Their Offers
One of the greatest differences between online and in-person gold buyers is the fact that online-only gold buying businesses don’t have an actual brick-and-mortar store location. This may sound like a drawback at first, but it’s actually a huge plus for you as a customer (and in many ways for them, too).
Pawnbrokers, jewelry shops, and physical gold exchanges have to worry about physically running a store and keeping it clean and functional. This includes any maintenance or repairs that need to be done over time. Unless they own the building themselves, they also have to pay rent to the property owner. If they have more than one location, those responsibilities and expenses multiply.
Online gold buyers don’t have all of the overhead costs of renting, maintaining, and operating a physical store location. This opens up their budget and gives them the freedom to offer more money to customers with less risk. If an in-person buyer offers too high a price for their budget and can’t make rent, they can lose their entire business. An online buyer is much more resilient. They can take greater risks and offer higher rates to stay competitive.
Availability of Consumer Information: Online Buyers Have Better Communication and Accountability
While jewelers and other gold buying stores can offer some level of information on websites and social media pages, many don’t (or don’t keep it up to date). Online buyers rely entirely on the internet, which means that everything they have to share is available to you from any internet-connected device. At a store, you might see something online only to find out when you get there that it’s been changed. By nature, an online buyer always keeps things up to date and accurate.
You can easily check customer reviews and ratings for online gold companies via public sites like Yelp and Google. With all the information available online, it’s also easier to verify any certifications or association memberships a company claims to have. Many online gold buying businesses also have ratings available from the Better Business Bureau.
It’s also much easier to tell when someone is trying to “schmooze” you online. When you sell to a buyer in person, you aren’t necessarily able to fact check their statements or compare competitors without driving back and forth between stores. When you sell to a gold buyer online, you’re able to instantly verify their claims, compare competitor information, and quickly reference customer comments and reviews.
We’ve all met a salesperson who could “sell ice to Eskimos,” as they say, and some people find it especially hard to say no to their tactics. If you’re one of those people, selling your gold online will eliminate that social pressure. It gives you the physical separation you need to think logically rather than impulsively.
Variety of Choice: Your Options for Local Physical Stores Are Limited
Even if your area has an above average number of different in-person gold buyers, you’re still limited to the area within the distance you’re willing to travel. You can certainly compare and choose the best place from your area, but there’s no way to know for sure that it’s any good. As any statistician would tell you, the small sample of stores near you probably isn’t representative of gold buyers in general.
When you go online, you eliminate the restriction of distance and open yourself up to businesses from around the globe. This gives you access to all available online gold buyers—the entire population—which your new statistician friend would call “the holy grail.”
Where Can I Sell My Gold Near Me?
You can usually find a few places to sell your gold locally, such as cash-for-gold exchanges, pawn shops, and jewelry stores. Most who accept gold will buy a variety of items, including gold coins, bullion and old jewelry. Keep in mind, however, that the in-store gold buyers in your area are paying rent, utilities, wages and other costs. The amount they quote you is likely to be impacted by those expenses.
An alternative to dealing with local gold buyers is to sell your gold to a reputable company online instead. It won’t show up in a local Google search, but there’s nothing closer to home than home itself!
What Happens When I Sell Gold for Cash?
Regardless of where you choose to sell your gold, buyers have the same general process. Here’s what happens, step by step:
- You provide the buyer with the gold items you want to sell (jewelry, scrap, coins, etc.).
- The items are weighed to determine their karat weight.
- The buyer calculates a value based on the weight of the items and the market price of gold, then makes you an offer.
- You either agree to the amount and complete the sale, or you decline and get your items back.
If a company does not guarantee that you will get your items back if you don’t sell your gold, that’s a red flag that you shouldn’t sell with them. Always make sure to ask if you don’t see it stated anywhere.
How Do Different Buyers’ Prices Compare to One Another?
Different gold buyers offer different rates, so it’s very important to compare prices and get an idea of what you can expect before you sell. Buyers start by determining the base market value of your gold items using its karat weight and the market price of gold at the time. However, the amount you’ll actually be offered depends on what percentage of that value the buyer is willing to pay you for it. A buyer that is focused on minimizing costs will probably offer a lower percentage than a buyer focused on competing for customers.
For reference, traditional gold buyers commonly make around 20% on a gold transaction. Online gold businesses face more pressure from competition and have less overhead, so they can take as little as 3-5% and still be profitable.
How Much Is Gold Actually Worth?
For many sellers, the biggest question on their minds is how much does gold sell for. Typically, receiving the maximum payment for gold is a priority with sellers, regardless of the condition of the items.
The value of a gold bar, coin or piece of jewelry is based on the karat weight of the gold and the current market price of gold bullion. As of the time of this guide being written, the raw gold price, or market price, for gold is around $57 per gram and $1,758 per ounce. Over the past few years, gold has experienced a surge in value and is close to historical highs.
Unless the gold is of the highest purity (24k or 99.9% gold), the weight of a particular item isn’t the same thing as the karat weight. The karat weight—and therefore the value of an item only refers to the weight of its gold content.
The ratio of gold to other metals (“impurities”) is its purity. If it’s made from an alloy with other metals, it has a lower purity and will therefore have a lower value as gold scrap. For example: White gold is technically an alloy that contains approximately 75% actual gold. This means that selling white gold will get you about 75% of what you’d get for the same amount of 24k gold.
How Much Money Can I Get for My Gold?
The amount of cash you can get for selling your gold depends on a number of things. The main factor in determining the payout is the market price for gold bullion at the time of the sale. It also depends on how much the buyer plans to make off of the transaction. If they want to make a higher profit, they’ll offer you a lower percentage of your gold’s value. You’re likely to get the best price from an online gold buyer who doesn’t have to factor in the costs of running a store.
To get a better estimate of your gold’s value, you can use our gold calculator or try to determine the value yourself. To do so, you will first need to know the purity, or karat, of your gold items. Next, look up the market price of gold per ounce and gram. Finally, you will have to weigh your gold items, making sure to separate the weights by karat if weighing multiple items.
Once weighed, a simple calculation of your weight multiplied by the market price will provide you with an estimate. Keep in mind though that buyers will have to make some money on the transaction, so they will not pay the full spot price of your gold.
Lastly, spot prices change regularly, so make sure to check the most current price when you plan to get cash for gold.
Cash For Gold USA ensures that you get all the money you deserve for the items you sell.
How Do I Check the Current Price of Gold?
The market price for gold fluctuates and can rise or fall rather quickly. If you want to know the price of gold at a given time, you can generally find up-to-date information on U.S. gold values via an online search. If you’re using the information to estimate how much you can sell your gold for, you can also find the current market price of gold bullion at the top of our online gold calculator.
How Do I Calculate the Amount of Cash I Can Get for Gold Right Now?
You can estimate the amount you can make from selling your gold using the weight of the item, the purity of the gold, and the current market price for pure, 24k gold bullion (make sure you use the same unit of measurement for both weight and price). If the item is made from 24k gold, you can simply multiply its weight by the current market price. If the item is not made from 24k gold, you’ll need to multiply again by the percentage of pure gold in the material.
- You weigh a 24k gold chain at 18 grams. August 18th, 2022, and the current market price is $56.56 per gram. $56.56 x 18 = $1,018..22.
- The chain is made from 18k gold instead. With 18k, this means the material contains approximately 75% pure gold. $1018.22 x 0.75 = $763.67.
If you don’t want to do all that math, you can skip all of that effort by going directly to our online gold calculator. Just put in the weight of your item and the purity of the gold, and our calculator will do the rest.
Is It a Good Time to Sell Gold?
Absolutely. The price of gold is at its highest point in years. At the start of the coronavirus pandemic, concerned investors rushed to purchase gold. By March 2020, gold dealers worldwide were reporting that they’d sold out of gold bars and coins.
Although economic instability isn’t necessarily something we want, the fact is that it drives up the price of commodities like gold. Throughout 2020, the economy became less stable and the market price for gold shot up to near-record amounts. If the past few years made money tight for you, you can get extra funds by selling off gold coins, jewelry, or other items that you no longer want.
This is more than a good time to sell your gold; it’s actually one of the best times to sell we’ve seen in decades. Not only has the market price stayed high this year, there are signs that it may continue rising.
Can I Make Money by Selling Gold?
Yes! Whether you need a little extra cash before payday or want to turn some old jewelry into a profit, selling your gold items to a scrap gold buyer is a great way to do it. Gold has always been a great choice for long-term investment, and the current changes to the economy mean that now is the right time to make money from it.
How Much Money Does Gold Usually Sell For?
Right now, gold is at its highest market value in 7 years. As of August 18th, 2022, the current market price is $1,758 per ounce ($56.56 per gram). In the current economy, this price may well continue to increase.
If you have gold sitting around your house that you want to get rid of, you could make good money by selling it now during this historic peak in the market price.
Is It a Good Idea to Sell Gold for Cash?
Yes, for many reasons! When you’re short on funds, selling your gold is a great way to get quick cash to pay for bills, groceries, and other living expenses. It’s also great motivation for finally cleaning out those old drawers. Stop hanging onto that broken necklace and that ugly ring from your terrible ex.
If you don’t need the cash for other things, you could use the money to buy new replacement jewelry and update your selection. Another great idea is to put the money you get from selling unwanted gold into another type of investment, like a new business, real estate, education, or a retirement account.
The unstable state of the economy and the soaring price of gold makes this year the perfect time to sell your unwanted gold for cash. People everywhere are turning to gold as an investment, and even Warren Buffet—a man who never liked gold as an investment—has purchased a major stake in gold mining.
Why Should I Sell to Cash For Gold USA Instead of Selling Cash for Gold Near Me?
Wondering where to sell gold? Here’s why we’re confident we offer the best way to sell gold coins, jewelry, and other items online:
- As an online company we have fewer expenses than an in-person gold buying business, which makes us able to offer higher, more competitive prices for your gold.
- We pay about 3 times more than other online gold buyers, as confirmed by Fox 5 News.
- There’s no risk, and you get the maximum amount of money for your items.
When you choose to sell with a reputable buyer like Cash For Gold USA, you can trust that we are a legitimate operation and not a scam. Unfortunately, the gold trading industry is a popular target for scammers.
Is There Anything I Shouldn’t Sell to Cash For Gold USA?
At Cash For Gold USA, we’ll pay cash for a wide variety of gold items. We are a scrap gold buyer, which means that the amount of money we pay you is determined solely by the value of the item’s gold content. We can’t assess the value of things like craftsmanship, branding, historical significance, or rarity.
If you want to sell us a rare or designer-marked item, we can still offer you cash equivalent to the current value of the gold in it. However, we might not be the best fit for things like these. If the item has some manner of artistic, collectible or historic value, you may want to find an appraiser or specialty buyer who can evaluate those non-material traits.
If you have questions about gold, you might find these answers to frequently asked questions helpful.
Why Is Gold Valuable in the First Place?
Gold is a naturally occurring metallic element. Though many have tried, there is no known way to artificially manufacture gold, which means it’s finite. Even if we were able to mine all of the gold on the planet, that’s all we’d ever have (unless we find it in space). Because there’s a limited supply of gold and a lot of demand for it, it’s naturally valuable as a commodity.
Gold is beloved for its beauty and has been a desirable material for jewelry and other accents throughout human history. It’s also extremely durable and has properties that make it an invaluable material for science and technology.
The good news is that gold can be easily recycled, so it can continue to be bought, sold, and used by people again and again. Scrap gold buying companies like ours are a part of that important process.
How Can I Tell If Gold Is Real or Fake?
Technically, any item with gold content still contains real elemental gold. However, sometimes an item will be described as gold when it is actually gold plated or made from a gold-containing alloy. This is what we mean when we say “fake gold.”
There are several ways you can determine whether or not your gold is real. The following are five of the simple methods you can use at home.
- Look for a purity marking. All real gold jewelry is stamped with a small marking to indicate the purity of the material. You can usually find this mark on the back of the item (like on a pendant or brooch) or the inside (like on a ring).
The mark will either have a karat weight (18k, 24k, etc.) or a number inside a rectangle. The number inside the rectangle corresponds to the percentage of elemental gold in the material.
- 999 is 99.9% gold (24k)
- 990 is 99% gold (22k)
- 916 is 91.6% gold (22k)
- 750 is 75% gold (18k)
- 585 is 58.5% gold (14k)
- 375 is 37.5% gold (9k)
- Apply heat with a flame. Carefully use a lighter, stovetop burner, or other small flame (not too hot) to heat the material for a while. If it is real gold, it will glow brightly but will return to its normal color after it cools. If it’s fake, it will take on a different color or turn dark. If it’s only been gold plated, the heat will melt through the plating and you’ll see the other metal underneath it.
- Hold a strong magnet near it. Real, pure gold is not magnetic. Purchase an extra strong magnet and hold it close to the gold item in question. If it’s real, the material won’t be attracted to the magnet at all. If it’s not, it will be at least somewhat attracted to the magnet. Some real gold items may have parts made from other metals that will react, but the rest of the piece won’t be magnetic.
- Try to float it in water. Pure gold doesn’t float, it sinks. If the item you’re testing floats, there’s a good chance it’s not real fine gold. Like with the magnet test, non-gold parts like jewelry clasps may sink a bit, but the rest of the piece will float.
- Wear it against your skin for a while. This works best for jewelry and other small items that you can reasonably wear around. Gold that has other metal impurities can discolor your skin (which is why your favorite cheap costume ring turns your finger green!). If you wear it for a day or so and it leaves a mark behind, it’s not pure gold.
How Much Per Ounce Is Gold Currently Worth?
In the United States, gold is measured in what’s known as the troy ounce. A troy ounce is different from the kind of ounce we use for everyday things like baking and measuring liquids (the avoirdupois ounce). The troy ounce is 31.1 grams, larger than the avoirdupois ounce at 28.35 grams.
In bar form, one troy ounce of gold is 42mm x 24mm, roughly comparable to a thick military dog tag. As of August 28th, 2022, the U.S. market price for this seemingly small amount of 24k gold is listed at $1,758.
What’s the Value of a Gram of Gold?
Though the 1-ounce bar is the most commonly traded size worldwide, gold is also commonly measured in metric weight. The price of a gram of gold can be found on various sources, but you can also calculate it by dividing the price of an ounce by 31.1.
As of August 18th, 2022, the U.S. market price for a gram of gold was $56.56 and about $1758 per ounce.
How Many Grams of Gold Are There in an Ounce?
One troy ounce of gold is equivalent to 31.1 grams. While an ounce is about the size of a military dog tag, a gram is about the size of a thumbtack.
What Are the Uses of Gold?
Gold is useful for a wide variety of applications beyond just jewelry, luxury décor, and commodity investments. In addition to its appearance and value as a currency, gold has properties that make it a crucial material for all kinds of industries and uses.
- Science and Tech: Gold is not as conductive as silver or copper, but it tends to perform better in electronics because the connections don’t tarnish. It’s also ductile, which means it can be stretched out into extremely thin wires without breakage. Both of these things make it an important material for the world’s technology.
- Aerospace: Gold is highly reflective, which means it can reflect intense solar rays in space and prevent things like glare and overheating. You’ll see it used for this purpose on astronauts’ helmets. Gold is also used to make insulation for satellites to keep them at a functional temperature.
- Medicine: Gold also has properties that make it useful for medical purposes, including as a rheumatoid arthritis treatment and a radiation source in cancer treatments. It also shows promise as a potential drug for slowing the progression of ALS.
Gold Prices FAQs
The amount of money you’ll get when you sell gold for cash is affected by a variety of factors. Take a look at the following FAQs to learn more.
What Are Gold Spot Prices?
The term “spot price” refers to the amount that gold will sell for at the current time (or “on the spot”). It represents the average net price of current gold futures for the coming month. Gold buyers use the spot price to determine the amount they’ll offer you for your gold items.
What Is a Gold Future?
Gold futures are basically agreements to trade gold for a set price at some date in the future. This means that the buyer doesn’t have to pay in full right away, and the seller doesn’t have to worry about the price dropping in the meantime. If the price rises in the meantime, the buyer still only has to pay the price they agreed on.
Gold futures are also used in determining the LBMA Gold Price, the market value calculated by the London Bullion Market Association.
Why Does the Price of Gold Change?
Just like stocks, real estate, and other types of assets, gold is subject to various economic pressures. In general, it follows the concept of supply and demand. When there’s a good supply of gold and not much demand, the price goes down. When there’s a smaller supply and lots of demand, the price goes up.
What Causes an Increase in Gold Prices?
When the demand for gold is high, its market value goes up. This spike in demand can increase for many reasons, including:
- A drop in the stock market
- An unstable economy
- Additional increase in demand, such as when people rush to buy before the gold prices rise even higher
What Is the Kitco Gold Index?
Kitco is a major Canadian dealer of gold and other precious metals. They also provide news on metals trading and are one of the markets responsible for setting gold prices. The gold industry turns to them for a real-time measure of gold values known as the Kitco Gold Index.
Gold Buyers FAQs
If you have questions about gold and jewelry buyers, the following information should be able to clear things up a bit.
How Much Will Online Buyers Pay?
Online gold buying companies offer different prices, so you’ll want to look around and do a bit of price comparison before deciding where to sell gold. In general, online buyers tend to pay more than traditional brick-and-mortar pawn shops do.
How Does a Gold Buyer Make a Profit?
There are three primary ways that gold buying companies make money:
- Buying gold in various forms and selling it to other buyers at a higher price
- Buying broken or otherwise unwanted “scrap gold” items (gold teeth, old jewelry, etc.) and selling it to a smelter who will melt and repurpose it
- Buying and keeping gold until its value increases, then selling it for a higher price
Whatever method a buyer uses, the key is consistently selling the gold they’ve purchased for more than what they paid for it.
How Do I Choose a Trustworthy Gold Buyer? What Should I Look for Online?
One of the challenges of buying and selling gold is that some scammers have used the industry to take advantage of innocent customers. To make sure that the company you sell your gold to is a legitimate, reputable one, do the following:
- Check online customer reviews (Yelp, Google, etc.) and look for any ratings from the Better Business Bureau.
- Do a Google search for information and reviews about the company.
- Look for gold buyers who offer insurance for your item(s).
- Choose a buyer that guarantees to return your gold to you for free if you choose not to accept their quote.
- Find out whether the buyer is a member of a jewelry trade association, like the Jewelers of America. If they are, it means that the association deems them reputable and holds them to a high standard of ethics.
- Ask trusted individuals for recommendations, if they have any.
How Can I Find Gold Places Near Me?
There are lots of ways to find gold buying businesses in your area. You can do a Google search, ask friends and family for recommendations, or look through local businesses on review sites and social media. If you prefer, you can also go online and sell your gold from home.
Gold Bullion FAQs
If you have questions about how gold bullion works, take a look at the following helpful information.
What Is the Value of Gold Bullion?
The term “gold bullion” refers to 24k gold that is traded in the form of a bar, coin, or ingot. The market price for gold is based on the price of 1 ounce of gold bullion. The value of a particular bar or coin depends on how many troy ounces it weighs.
What Is the Value of a Gold Bullion Coin?
Gold bullion is also produced in coin form. They can be purchased in a variety of sizes, ranging from 1/20 ounce to 1 ounce. The value of the coin, then, depends on its size. A 1/2 ounce gold bullion coin will be worth half of the current market price for gold.
Where Can I Sell Gold Bullion? How Does It Work?
You can sell gold bullion anywhere that offers cash for gold. This includes your local pawnbroker, jeweler, or gold exchange. You can also sell gold bullion coins and bars to an online gold buyer, most of which offer more competitive prices than in-person buyers.
Gold Coins FAQs
Do you have questions about where to sell gold coins and how much you can get? The following information might provide some answers.
How Much Can I Get for a Gold Dollar Coin?
Even though a gold dollar coin was made as currency with a value of $1, its value as scrap gold is much higher. Depending on the market price for gold, the weight and purity of the gold used, the rarity of the coin, and the condition it’s in, the value of your coin can be anywhere from a couple hundred dollars to tens of thousands.
Where and How Can I Sell Gold Coins?
Gold coins can be sold anywhere that offers cash for gold items. You could sell to local in-person buyers like pawn shops, jewelry stores and precious metal exchanges. You can also sell your gold coins to an online gold buying business, which may be able to offer higher prices.
Numismatic experts agree that it’s a good idea to sell gold coins right now while the price for gold is at such a high point. Coin dealers are seeing a boost in the value of all kinds of rare, collectible coins. The present demand for the American Gold Eagle coin has even been described as “epic.”
Gold Jewelry FAQs
If you’ve got questions about gold jewelry or simply want to brush up on your gold knowledge before you sell, take a look at our answers to the following frequently asked questions.
What Does It Mean If Jewelry Is “Gold Filled?”
Gold filled pieces have two to three layers of metal. A gold alloy is bonded to a brass core on one or both sides using pressure and heat. Gold filled jewelry is different from gold plated jewelry, as it’s made with a different process and is required to contain 5% gold.
How Is Gold Vermeil Different from Gold?
Gold vermeil is a special type of gold plated sterling silver. Vermeil is usually made with gold of a high purity (24 or 22 karats). Jewelry made from gold vermeil is known to be a great option for people who are allergic to other common jewelry metals.
What Does It Mean for Jewelry to Be “Gold Plated?”
A piece of gold plated jewelry has been given a thin outer layer of gold, as if it were dipped in it. These pieces are commonly made from silver or copper, and the gold is applied using an electrochemical or chemical method.
What Is White Gold Made Of?
Although white gold has “gold” in its name, it’s actually an alloy made from gold and another metal, such as platinum or nickel. It commonly contains around 75% gold content.
How Do I Sell Gold Jewelry
You can sell gold jewelry for cash by taking your items to a cash-for-gold exchange, pawn shop, jeweler or other such buyer. You can also sell your gold jewelry from home by working with an online scrap gold business. Online gold buyers are accessible from anywhere and commonly offer better, more competitive prices.
Where Is the Best Place to Sell Gold Jewelry?
You can sell old, broken, or unwanted gold jewelry in person to a jewelry store, pawn shop, or other cash-for-gold buyer. However, your best bet is to sell your gold with an online buyer like Cash For Gold USA. We can offer you higher prices for your gold jewelry than competitors both on and offline. We also provide free shipping materials and will pay you within 24 hours of receiving your items.
If the gold jewelry you’re selling is a designer piece or has some sort of historical or collectible significance, you might want to sell it to a jeweler or other specialty buyer. You can sell it to a scrap gold buyer, but the amount they pay will be based only on its gold content and not on its brand name or artistic value.
Scrap Gold FAQs
Want to sell scrap gold for extra cash? Take a look at these FAQs to learn more about how it works before you get started.
What Does “Scrap Gold” Mean?
Scrap gold is generally defined as any gold item that has no real use in its current state. For example, there’s no clear use for a broken gold necklace or a piece of gold dental work. Even a low-end piece that you just don’t want anymore can be sold as scrap for the value of its gold. Companies like ours buy scrap gold and melt it down to make bullion for gold resale.
What Is the Value of Scrap Gold?
The value of a scrap gold item depends on its weight, the purity of the gold, and the current market price of gold. The price of gold as of August 18th, 2022 was listed at an impressive high of $1758.95 per ounce ($56.55 per gram).
Where Can I Find Scrap Gold in My House?
There are several kinds of scrap jewelry you might have lying around in your house. Common examples include:
- Broken gold jewelry and accessories
- Gold dental work, such as fillings, crowns and bridges
- Electronics components (if you can extract it)
- Decorative accents and hardware, like the gold trim on antique china or a gold pull from a dresser drawer
Where Can I Get Cash for Gold Near Me?
When deciding where to sell gold for cash, you have several options. One option is to take your broken jewelry, dental gold, and other scrap to a pawn shop, jewelry store or cash-for-gold exchange for an in-person sale. Another option—and likely the best option—is to sell your scrap gold to an online buyer like ours.
Raw Gold FAQs
Have you ever wondered what gold is like before it is refined into the pure bullion we sell and trade today? Learn more from the following answers to frequently asked questions.
What Does “Raw Gold” Mean?
Raw gold refers to the natural, unrefined, or found in the form of nuggets, flakes, or dust. When it is first mined, the ore is technically an alloy of gold with other metals. It is then refined into pure gold.
Although it isn’t very pure gold in its raw form, gold ore is still extremely valuable and highly sought after. In August 2020, a South African man was arrested for trying to smuggle 500,000 rand (about $30,179) worth of raw gold from a mine.
What Does Raw Gold Look Like?
Even in its raw state, gold is still shiny and bright with a rich color. The amount of gold in raw ore can be visually estimated based on color—the more yellow it is, the more gold there’s likely to be. If it’s lighter in color, it’s more likely to have a high percentage of other, non-gold metals.
Where Does Raw Gold Come From?
Gold occurs naturally in various places around the world. It can be found encased in veins of hard rock (like quartz) or in unique deposits that form in streams and rivers.
Countries that produce large volumes of gold include Russia, Australia, South Africa, China, Canada, and the United States. In the U.S., gold is famous for being plentiful in the west. A lot of the country’s gold currently comes from Nevada and Alaska.
What Is the Purity of Raw Gold?
Raw gold always contains impurities and is often an alloy of gold and other metals. This means that the purity of a piece of raw gold varies depending on its content. Raw gold purity typically ranges from 14k to 18k.
How Much Can I Get for Raw Gold?
Raw gold can be sold in just the same way that any other refined gold item would be sold. Various types of stores will purchase raw gold, including pawnbrokers, gold exchanges, jewelers, and online gold buying companies. Different businesses may have their own unique policies for raw gold sales.
At Cash For Gold USA, we buy raw gold at competitive rates. We’ll accurately determine how much gold is in the raw ore and make sure that you get the full amount you are owed. Once you decide to sell, we’ll pay you for your raw gold within 24 hours.
How Can I Sell My Raw Gold for Cash?
You can sell raw gold in the same way you can sell other types of refined gold items. One option is to sell it to a jeweler, pawn shop, or other cash-for-gold business. You could also sell it from home with an online gold buying company. Online buyers can often offer you the best prices and benefits.
Can I Sell Other Precious Metals?
Yes! There are many different precious metals that are commonly traded. These include metals like silver, platinum, palladium, and rhodium.
Can I Get Cash for Selling Silver?
Like gold, silver is a naturally occurring metallic element that has many uses and can be traded as a commodity. It’s desirable for a variety of uses due to properties like good conductivity and antibiotic tendencies. It’s also commonly seen in the form of jewelry, flatware and coins. With silver prices rising, now is a great time to sell silver to an online buyer for fast cash.
How Much Can I Get for My Silver?
Recently, the value of silver has been increasing, reaching historic highs in much the same way gold has. The amount you can sell your silver for depends on factors like the current market price of silver and the purity of the silver in your item. The value changes regularly, increasing and decreasing based on the demand for silver.
You can also sell items that have been silver plated for cash. The amount of money you can get for silver plated items depends on things like the thickness of the plating and the kind of alloy that was used. If you sell something silver plated with Cash For Gold USA, we can determine its silver content and find an accurate value for the fairest price.
What Is the Value of Silver? How Do I Check Its Current Price?
The market price of silver as of August 18th, 2022, is $19.51 per ounce ($0.63 per gram). In the last five years, the price of silver has increased by more than 15%. To check the current price of silver, you can search for it online or check directly from sources like Kitco.
What Is the Value of Silver Bullion?
Like gold bullion, silver bullion is pure silver that’s traded in the form of bars, coins, ingots or rounds. The value of silver bullion depends on its weight and the current market price of silver.
What Is the Price of Silver Per Gram?
The price for one gram of silver was approximately $0.63 as of August 18th, 2022. Make sure you check the current price when you plan to sell.
What Is the Price of Silver Per Ounce?the mar
The price for one ounce of silver was approximately $19.51 as of August 18th, 2022. Make sure to check the current price of silver at the time you plan to sell.
Using a Silver Price Calculator
You can calculate the value of your silver items by hand using the weight of the item, the purity of the silver (as a percentage), and the current price for silver. An easier and faster method is to use an online silver calculator. Simply input the weight and purity information as the calculator instructs and it will give you an amount based on the current silver price.
What’s the Best Place to Sell Silver for Cash?
Online buyers are typically able to offer you more money for your silver items. At Cash For Gold USA, we pay the best silver prices with the quickest turnaround. We also provide free item shipping materials and make sure that you get all of the money you deserve.
Do you have questions about selling silver? Browse these FAQs for some helpful answers.
How Can I Tell If Silver Is Real or Fake?
When we talk about “real” silver, we’re referring to pure silver content. There are several ways you can determine whether a material is pure silver or not.
Here are a few simple tests you can run at home:
- Check for a stamped marking somewhere on the item. This mark may be found on the back of a pendant or the inside of a ring. Most countries require retail silver to be marked like this.
- Hold a magnet close to the item. Silver is not a magnetic material, so a real silver item won’t react to the magnet. If it reacts weakly, it may be made from an alloy with a magnetic metal.
- It sounds strange, but give your item a sniff. Silver has no odor, so a scent may indicate the presence of another type of metal.
- Check for any rust. When silver oxidizes, it tarnishes instead of rusting.
How Do I Read Silver Markings?
Similar to gold markings, silver markings are an indication of the amount of silver in an item. They may also include the name of the place they were made. Examples of common markings include:
- 999: 99.9% silver, known as fine silver
- 925: 92.5% silver, known as sterling silver
- 900: 90.0% silver, known as coin silver
- 800: 80.0% silver, known as German silver
If for some reason your silver item is not marked, we can use specialized testing to determine its purity.
How Many Grams of Silver Are There in an Ounce?
Silver, like gold, is measured in a unit called the troy ounce. This type of ounce is slightly larger than a standard ounce. One troy ounce of silver is equivalent to approximately 31.10 grams of silver.
How Do I Sell Unwanted Silver?
There are multiple ways you can sell unwanted silver jewelry, bullion, coins, or other items. You can sell your silver to local buyers in jewelry stores, pawn shops, and brick-and-mortar cash-for-gold exchanges. For the best chance at a high price, consider selling your silver to an online buyer.
Can I Make Money from Selling My Silver?
Absolutely! You can almost always find a buyer for precious metals. So long as the amount you sell for is greater than the amount you initially paid for the item(s), you will technically be making a profit.
When Is the Best Time to Sell Silver?
When selling precious metals, you want to try and sell at a time when the market price for the metal is high. As demand for silver increases, so will the price of silver. Conversely, lower demand will reduce the market price of silver. If you’re just cleaning out your drawers or getting rid of some old silverware, however, you might just sell it for cash right away instead of holding onto it and waiting for a better price.
As of 2022, the market value of silver is excellent. In fact, the price of silver is expected to continue rising. Even if you sell right now your items will fetch historically high prices.
Should I Sell My Silver Items for Cash?
If the silver items are things you have no problem parting with, selling them for cash can be a great way to turn clutter into quick cash. If it’s a treasured family heirloom, antique, or special piece of jewelry, you might decide not to sell it.
Online buyers like Cash For Gold USA tend to be scrap metal buyers, which means that the silver in the items you sell will be melted down, resold, and reused. The amount you get paid will be based on the weight of the silver. If something has special significance or is a designer brand item, you may prefer to keep it or take it to an appraiser for more information.
How Do I Sell Silver Jewelry?
There are many places that purchase silver (silver exchanges, pawn shops, etc.), but the easiest way to do it is to use an online jewelry selling service. You simply send your jewelry to be evaluated, then decide whether or not to accept the amount offered. At Cash For Gold USA, we will pay you for your silver jewelry within 24 hours of receiving your items.
How Do I Sell Silver Flatware?
You can sell silver flatware just like you would sell silver jewelry. Take it to an in-person gold buying location like a jeweler or pawn shop, or sell it online. If you want to compare lots of options, selling online will help you find the most buyers with the most competitive prices.
How Do I Sell Silver Bullion?
Like jewelry and flatware, silver bullion can be sold to a pawn shop, cash-for-gold exchange, jewelry store or online precious metals buyer. Bullion is usually 99.9% silver, so you should be able to sell it for some of the highest available prices.
How Do I Sell Silver Coins?
Silver coins can be sold to jewelers, pawn shops, silver exchanges, and other scrap metal buyers. If they’re in great condition and/or are especially rare, you might want to have them appraised to determine whether you can make more from selling it to a scrap buyer or as a collectible.
Examples of silver coins you can sell include the following:
- Kennedy half-dollars
- Franklin half-dollars
- Washington quarters
- Morgan dollars
- Peace dollars
- Liberty Head (Barber) quarters
- Liberty Head (Barber) half-dollars
- Liberty Head (Barber) dimes
- Winged Liberty Head (Mercury) dimes
- Standing Liberty quarters
- Walking Liberty half-dollars
Where Can I Find Gold and Silver Buyers Near Me?
You have several options when it comes to selling your silver for cash. If you want to sell it locally to an in-person buyer, you can take your silver items to a silver exchange, jewelry store, or pawn shop. If you’d rather handle things from home and shop around for the best price, you can sell your unwanted silver to an online buyer.
Which Online Silver Buyer Should I Sell To?
We are confident that we are the best silver buyer you’ll find online, because we offer more than our competitors, provide free shipping materials, and pay sellers within 24 hours.
Here’s how our system works:
- Fill out the silver selling form on our website.
- We’ll send you shipping materials so you can mail your items to us for free.
- Within 24 hours of receiving your items, we’ll have them appraised and send you an offer for their value.
- If you decide you don’t like the amount we offered, decline your offer and we’ll return your material to you free of charge.
Can I Sell My Platinum?
Platinum is a light-colored metallic element that occurs naturally and is much rarer than gold (about 30x the rarity). Thanks to properties like corrosion resistance, platinum is commonly used for scientific and industrial purposes. Examples of things that can be made using platinum include hard drives, turbine engines, lab equipment, cancer treatments, and catalytic converters.
Data from August 2020 showed that buyers who missed out on the initial spike in gold and silver are now also investing in platinum holdings.
How Much Can I Get for Platinum Right Now?
Platinum’s market value changes often and can go to extremes very quickly as the economy shifts. The price of platinum is determined by the London Bullion Market Association (LBMA). As of August 18th, 2022, the market price for platinum was $923.00 per troy ounce.
What Is the Spot Price of Platinum?
The spot price of platinum is the amount that one ounce of pure platinum would sell for at the immediate time of sale (or “on the spot”). For the most accurate estimate of value, you should check the spot price when you plan to sell your platinum items.
How Much Is Platinum Worth Per Ounce?
As of August 18th, 2022, the current market price for one troy ounce of pure platinum was listed at $923.00. You’ll want to check the market price for platinum at the time you plan to sell for the best approximation of value.
How Much Is Platinum Worth Per Gram?
As of August 18th, 2022, the current market price for one gram of platinum was listed at $29.39. To get the best estimate, check the spot price of platinum around the time you plan to sell.
How Do Platinum Rates Work?
Compared to other precious metals, the price of platinum is known to be especially volatile. Unlike gold, which rises in price when the economy becomes less stable, platinum is worth more when the economy is doing well. This is due largely to the fact that gold is an investment commodity, while the demand for platinum is based mostly on its use in industrial manufacturing (which slows during an economic downturn).
How Much Can I Get for a Platinum Ring?
The amount you can get for a specific piece of platinum jewelry depends mostly on its weight and the purity of the material. When selling jewelry to a scrap buyer, you’ll be paid based on the value of the platinum content in your items. If it’s a high purity, the value will be roughly equal to the item’s weight (in ounces) multiplied by the market price of platinum per ounce.
How Much Can I Get for Platinum Coins?
Platinum coins are less common than gold and silver coins; only 40,000 were produced in the U.S. in 2019. The relative rarity of the coins, along with their condition, can add to their value as a collectible specialty item.
You may want to have your coins professionally appraised to determine whether it’s worth it to sell as a collectible or as scrap to be recycled. If you sell it to a scrap buyer, the items will be melted down and you will be paid for the weight of the platinum itself.
As of August 18, 2022 a 1 oz. coin made from 99.95% platinum was priced at $1,495.00 in the U.S. Mint catalog.
What Is Scrap Platinum?
The term “scrap platinum” refers to any platinum-containing item that no longer has use in its current form. This can include broken accessories, like rings, necklaces, or watch bands. Another great source of scrap platinum is old catalytic converters from cars.
Where Should I Sell Platinum?
Platinum can be sold anywhere that you can sell gold, silver, and other precious metals. If you want to sell at a physical location, you can look for pawn shops, jewelry stores, and precious metal exchanges near you. However, opting for an online platinum buyer may be a better choice, as they’re usually able to offer more competitive prices and other additional benefits.
Can I Sell Rhodium?
If you have items that contain rhodium, you can definitely sell it for money. Rhodium occurs naturally and is usually found during the nickel and platinum mining process. It’s most often used to manufacture catalytic converters for vehicles, but it’s also the metal that keeps white gold from tarnishing.
Rhodium is also very rare, which is part of the reason it’s so much more valuable than other precious metals like platinum, silver, and gold.
Is Rhodium Worth Selling?
It is definitely worthwhile to sell unwanted rhodium for cash, especially right now. Rhodium is seeing strong demand from the auto industry, where it’s used in catalytic converters. In January 2020, rhodium was reported to be at its highest price in more than a decade.
How Much Can I Get for Selling Rhodium?
Rhodium is a valuable precious metal, but it’s not very commonly traded and has a very small market. Nevertheless, its prices have been soaring. As of
August 18th, 2022, the current market price for rhodium is $14,500.00 per ounce, or $651.05 per gram.
The amount of money you can get for your rhodium will vary based on the buyer’s rate, but this is the information their offer will be based on.
Where Can I Sell Rhodium?
Rhodium can be sold to a variety of buyers, including jewelry stores, pawn shops, and other stores that buy scrap precious metals. One of the easiest and most cost-effective ways of selling rhodium is to sell it with an online buyer.
At Cash For Gold USA, we are happy to purchase whatever rhodium items you want to sell. This includes things like rhodium sponges, bars, wire, rods, foil, mesh, and sheet.
Can I Sell Palladium for Cash?
Palladium is another commonly traded metal that you can sell for money. Like rhodium, it’s commonly used to make catalytic converters. It’s also regularly made into jewelry, coins, or bullion for trading and investment.
Is Palladium Worth Selling?
Just like for other precious metals, the answer is yes. You can make more or less money depending on the weight of the item, the purity of the material, and the market price of palladium at the time. This is a great way to make extra cash fast for bills, groceries, or “fun money.”
How Much Can I Get for Selling Palladium?
As of August 18th, 2022, the current market price for palladium was $2,085.00 per ounce, or $71.86 per gram. The value of palladium saw a large increase of 15.58% over the previous 30 days, though there was a 9% decrease over the previous 6 months. Globally, palladium prices have been on the rise for some time.
The amount a buyer will pay you for your palladium will vary based on their rate, but this is the information it will be based on.
How Easy Is It to Sell Palladium?
Palladium is no harder to sell than gold, silver, platinum, or rhodium. Online buyers like ours will readily purchase your old palladium jewelry and coins, making it easy to get cash for other things in your life.
Where Should I Sell My Palladium Items?
Just like gold, silver, platinum, and rhodium, there are a variety of places you can sell your unwanted palladium. You could take it to a local pawn shop, jeweler, or other precious metals buyer. You could also sell it online with a company like Cash For Gold USA.
We purchase all kinds of palladium items from customers across the country. This includes palladium coins, bars, jewelry, wire, and even overstock materials that contain palladium.