The short version
Know the melt value, sort by karat, get at least three quotes as a rate per gram or pennyweight, and sell to the buyer with the best net payout and a process you trust. The numbers below show why the buyer you choose matters more than the day you sell.
Step by step
- Check what you have. Look for stamps such as 10K, 14K, 18K, 585, 750 or 916. Set aside plated or filled pieces. How to check if gold is real.
- Sort by karat. A mixed pile is priced at its lowest karat. Weigh each karat separately in grams, on a scale that reads to 0.01 g.
- Remove what is not gold. Stones, springs, steel clasps and watch movements have no melt value. Deduct them.
- Work out the melt value. Use the scrap gold calculator with today’s spot price. That is your 100% reference.
- Get three quotes. Ask each buyer for the rate per gram or per pennyweight at each karat, not a lump sum, and compare it with your melt value.
- Watch the weighing. Ask to see the scale reading and the unit. Check the buyer separates karats.
- Get it in writing. A receipt with weights, karats, rate and total protects both sides. Bring photo ID. Most states require ID and a hold period for secondhand precious metals.
What each kind of buyer pays
| Buyer | Typical payout | What to know |
|---|---|---|
| Pawn shop | 40–60% | Instant cash, high overhead, built to resell rather than refine |
| Local jeweler or coin shop | 65–80% | Knows the metal and has a refiner relationship |
| Mail-in or online buyer | 75–85% | Low overhead, but you wait and you ship. Insure the parcel. |
| Refinery direct | 90–98% | Best rate, but minimum lot sizes and treatment fees apply |
Illustrative ranges, not guarantees. Real offers vary by buyer, karat, lot size and fees.
Before you sell antique or signed pieces
Melting is permanent. A signed designer piece, an antique with a maker’s mark or a piece with valuable stones can be worth many times its gold. Get an appraisal first.
Mailing gold safely
- Photograph and weigh everything before it leaves your hands.
- Use a tracked, insured service and insure for the melt value.
- Use a buyer with clear terms, published payout rates and a return option if you decline the offer.
Taxes
If you sell gold for more than you paid, the profit can be taxable, and physical gold sold at a gain is generally treated as a collectible. Keep purchase records and speak to a tax professional. This site does not give tax advice.
Scams and red flags
- Pop-up “cash for gold” events that will not tell you the rate per gram.
- Buyers who will not separate karats before weighing.
- Pressure to decide on the spot, or an offer that changes after weighing.
- Refusing to show the scale or to give a receipt.
Frequently asked questions
Where is the best place to sell scrap gold?
There is no single best place. Refiners and reputable mail-in buyers usually pay the highest percentage of melt, local jewelers and coin shops pay in the middle, and pawn shops pay the least. Compare quotes.
How much should I get for my scrap gold?
Compare the offer with the melt value from the calculator. A pawn shop commonly pays 40–60%, a jeweler 65–80%, a mail-in buyer 75–85% and a refiner 90–98% before fees.
Do I need ID to sell gold?
Most states require identification and a hold period for secondhand precious metal transactions. Bring photo ID.
Should I clean my jewelry before selling?
It is not needed. Buyers price by weight and purity, so cleaning does not change the offer.
When is the best time to sell gold?
No one can reliably predict the price. Comparing buyers usually changes your payout by more than a normal day's price move.