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Where to Sell Gold: Your Options
Pawn Shops
Immediate cash, negotiate prices. Typically pay 40-60% of spot price.
✓ No shipping
✗ Lower prices
Online Gold Buyers
Mail-in services often pay more. Get quotes from Cash for Gold USA, APMEX.
✓ Insured shipping
✗ Wait for payment
Jewelry Stores
Some buy gold, especially if they sell pre-owned jewelry.
✓ Fair assessments
✗ Not all buy gold
Gold Refiners
Best prices for large quantities of scrap gold.
✓ Accurate testing
✗ Minimum amounts
How Much Cash Can I Get for My Gold?
The amount you'll receive depends on several factors:
1. Karat (Purity)
Higher karat gold contains more pure gold and is worth more. 24K is pure gold, while 10K is only 41.7% gold. Most jewelry in the US is 10K or 14K.
2. Weight
Gold is priced per gram or troy ounce. Heavier pieces are worth more. Pawn shops use precise scales to weigh your gold.
3. Current Spot Price
Gold prices fluctuate daily based on global markets. Today's price may differ from tomorrow's. Check our gold price calculator for current rates.
4. Buyer's Margin
Every buyer takes a margin. Pawn shops typically offer 40-60% of spot price. Online buyers may offer 70-90%. Refiners offer the highest rates but often have minimum quantities.
Tips for Selling Gold
- 1Know your gold's karat
Look for stamps like 10K, 14K, 18K, or 750 (18K). If unmarked, get it tested.
- 2Weigh it yourself first
Use a kitchen scale to get an approximate weight before visiting buyers.
- 3Get multiple quotes
Prices vary significantly between buyers. Visit 3-4 places before selling.
- 4Check the spot price
Know today's gold price so you can calculate what percentage you're being offered.
- 5Consider the jewelry's value
Designer or antique pieces may be worth more than scrap value. Get an appraisal first.
Frequently Asked Questions
Do pawn shops give good prices for gold?
Pawn shops typically offer 40-60% of the current gold spot price. While this is lower than online buyers, you get immediate cash with no waiting. For the best price, compare offers from multiple pawn shops.
How do I know if my gold is real?
Look for karat stamps (10K, 14K, 18K, 24K) or European markings (375, 585, 750, 999). Pawn shops can test your gold using acid tests or electronic testers. Real gold won't be magnetic and won't leave green marks on your skin.
Is it better to pawn or sell gold?
If you want the item back, pawn it - you'll get a loan using the gold as collateral. If you don't need the item back, selling outright typically gets you more money (no interest payments or risk of losing the item).
What gold items can I sell?
Most gold buyers accept: rings, necklaces, bracelets, earrings, watches, coins, dental gold, broken jewelry, and scrap gold. Some also buy gold-plated items, though these are worth much less than solid gold.