The one number to compare
Whoever buys your gold prices it from its melt value, then keeps a share. Judge every offer as a percentage of melt value, not as a dollar figure, because dollar figures mean nothing until you know what the gold is worth. Work out your melt value first with the gold calculator.
Buyers compared
These are illustrative ranges, not quotes. The last column shows what each range would mean on gold with a melt value of $1,000.
| Where | Typical payout | On $1,000 of melt value | Notes |
|---|---|---|---|
| Pawn shop | 40–60% | $400–$600 | Fast, local, cash on the spot. Pays the least. Good when you need money today. |
| Local jeweler or coin shop | 65–80% | $650–$800 | You can talk to a person, watch the weighing and negotiate. Offers vary a lot between shops. |
| Mail-in or online buyer | 75–85% | $750–$850 | Better rates, but you ship your gold. Check insurance, how long they hold an offer and what happens if you decline. |
| Refinery | 90–98% | $900–$980 | Highest share of melt value. Usually wants larger lots, may charge lot fees, and works on assay results. |
The gap between the lowest and highest payout on that gold is $580 on every $1,000 of melt value, which is why it is worth getting more than one quote.
Pawn shops
Quick and convenient, and they pay on the spot. They also pay the lowest share, because they take on resale risk and run on thin margins on the items they hold. A loan against your gold is not the same as a sale, so check which one you are being offered and what it costs to get the gold back.
Local jewelers and coin shops
A good option for a few pieces. You can watch them weigh the gold, ask how they test it and negotiate. Offers vary a lot between shops, so visit more than one. Some jewelers pay more in store credit than in cash, so ask which figure you are being quoted.
Mail-in and online buyers
These typically pay more than local shops because they have lower overheads and sell on to refiners in volume. The cost is trust and logistics: you send your gold away before you are paid. Before you do, look at:
- Whether they insure the shipment and who is responsible for it in transit.
- How long they hold your gold after sending an offer, and whether they return it for free if you refuse.
- How they test and weigh it, and whether you can see the results.
- Independent reviews from people who actually sold to them.
Refineries
Refiners pay the highest share of melt value but often work with larger lots and may charge lot fees or a minimum. They are most useful if you have a significant amount of scrap, or several people’s worth that you can pool. Ask how the assay works and how the final payout is calculated.
Red flags
- An offer given without weighing your gold in front of you.
- A buyer who will not tell you the percentage of melt value they are paying.
- Pressure to decide immediately, or an offer that expires within minutes.
- Vague testing, or a buyer who refuses to show you the scale.
- Heavy fees that are explained only after the weighing.
Before you go
- Weigh each item in grams and read the karat stamps. See the hallmarks guide if a mark is unclear.
- Work out your own melt value with the scrap gold calculator.
- Get at least three quotes, and ask each buyer for their payout as a percentage of melt value.
- Photograph your items and keep a written record of the weights.
- Read how to sell scrap gold for the full step-by-step.
Frequently asked questions
Where is the best place to sell gold?
There is no single best place. Refineries and reputable mail-in buyers usually pay the highest share of melt value, while pawn shops pay the least but are the fastest. Compare offers as a percentage of melt value, and weigh convenience and trust alongside price.
How much will a pawn shop pay for gold?
Typically 40–60% of melt value. They need a large margin because they must resell or refine the gold and carry the risk of price movements.
Is it safe to mail in gold?
It can be, if you choose a buyer carefully. Use insured and tracked shipping, photograph and weigh everything before you send it, and check that the buyer states clearly how long they hold your gold and what happens if you reject their offer.
Should I sell gold to a jeweler or a refinery?
A refinery usually pays a higher percentage but may require a minimum quantity and charges fees on small lots. A jeweler is convenient for a few items and lets you negotiate face to face. Get both quotes if the amount is worth the effort.
Should I sell now or wait for a higher price?
No one can predict gold prices reliably, and this site cannot advise you. What you can control is the percentage of melt value you accept, which makes a large difference regardless of the spot price on the day.
Do I pay tax when I sell gold?
Tax treatment depends on your situation and local rules, and a profit on a sale can be taxable. Speak to a tax professional, and keep records of what you paid, when and what you sold it for.