Best Places to Sell Gold for Cash
Gold is one of the most valuable commodities, with a current market price of $1,955 per troy ounce at the time of writing.
Gold is one of the most valuable commodities, with a current market price of $1,955 per troy ounce at the time of writing. Regardless of how you came into ownership of it, you likely want to get the best bang for your buck when you go to sell it.
So, here are the best places to sell gold for cash.
Best Place to Sell Gold: Gold to Cash
The best place to sell gold, by far, is online. Online gold buyers have little overhead costs in comparison to brick-and-mortar locations, which means they can offer you more for your gold. In fact, Gold to Cash offers up to 95% of the market value of your gold — more than most of our competitors.
If you’re unsure how much your gold is worth, you’re able to view what other items have previously been purchased for. This is unique as most in-person buyers don’t publish their recent purchases. But, when you offer the best price, there’s no need to hide your payout data.
To sell with Gold to Cash, simply request a free appraisal kit, then ship your item(s) out. Your package is insured up to $1,000, so it’s safe the entire way. Gold to Cash experts will review your item, assess its value, and make you an offer. If you accept, payment will be sent to you within 24 hours.
Other Places to Sell Gold
While selling online will often score you the best deal, there are a few other places to consider.
Pawn Shops and Antique Stores
Local pawn shops and antique stores are easy to access and offer instant payment, meaning you’ll walk out the door with cash in hand if they purchase your item.
However, because of the overhead costs associated with running a brick-and-mortar store, selling in person might not land you the best possible deal. In fact, it’s common for them to offer just 25-35% of gold’s market value.
Likewise, pawn shop and antique store employees can theoretically be anyone. When selling a valuable piece of gold, you want an expert reviewing your item carefully, which simply isn’t guaranteed in local shops.
Not all jewelry stores buy gold, and even the ones that do might not accept all types of gold. The best way to find out who accepts what is to call stores one-by-one for answers.
Once you’ve found a few stores near you that accept gold, you’ll want to receive a quote from each one to find the best deal. Yet another time-consuming practice. When it comes to assessing the value of your gold, you’ll need to take their word for it though — because their primary business likely isn’t purchasing gold, they probably won’t have information about their previous purchases available to the public.
However, once you’ve found the winning store, it’ll be fairly easy to sell your item. You’ll receive payment almost instantly, which is ideal.
Mining gold can have negative impacts on our environment, and recycling is a great way to mitigate some of that. However, recycled gold is worth less than mined gold. So, while it might be convenient to drop your gold off at a local metal recycler, you’ll almost always get less cash in return than if you sold it online.
eBay, Etsy, and Facebook Marketplace are popular online marketplaces to sell gold. However, listing online brings intense competition — often thousands of listings similar to yours. This can quickly become a race to the bottom, with sellers dropping their prices to sell their item more quickly.
If you’re firm on your price, you may need to leave your listing up for some time before the item sells. This could be days, weeks, or even months, which isn’t ideal. Additionally, you may be subject to a listing fee, seller’s fees, and shipping costs, which will quickly eat away at your profits.
Takeaway: Sell Gold Online with Gold to Cash
The best place to sell gold online. Consider selling with Gold to Cash for a simple, efficient process that guarantees you receive the most money for your gold. Click here to sell your gold