5 Best Places To Sell Gold For Cash

If you have been binging on Marie Kondo and want to do some spring cleaning, or you’re looking for extra cash, selling gold is easier than you might think.

As one of the most precious metals on earth, the gold market has been around since gold was first discovered.

With many uses, from electronics to fine jewelry, it will continue to exist for the foreseeable future.

In this article, we will look at the best places to sell gold jewelry for cash to help you make the most money.

5 Best Places To Sell Gold for Cash Online

Here are the best places to sell gold for cash online:

  1. 🏆 CashForGoldUSA.com
  2. The Alloy Market
  3. Express Gold Cash
  4. Luriya
  5. SellYourGold.com

1. CashforGoldUSA.com

CashforGoldUSA is one of the oldest gold buyers. The company buys gold jewelry, scrap gold, and golden coins from anywhere in the world. They are known to have some of the best rates for gold among online jewelry buyers.

Reliability: Over many years, CashforGoldUSA earned its customers’ trust for excellent and fast service and great rates. They also guarantee they’ll beat any competitor’s offer, or they’ll return your gold for free. The company has a 4.4 out of 5-star rating on Trustpilot.

How To Sell: To sell your gold items, you must fill out a form on their website. A few days later, you will receive an envelope via USPS Mailer or FedEx, which you use to return your items inside. You will get paid 24 hours after receipt. The shipping is free, and all packages are insured.

Pay: The price you can expect for your gold items depends on the gold market as well as your item. You are not obligated to accept their offer, and if after the official appraisal and final offer, you are not happy, they will return your items for free.

2. The Alloy Market

The Alloy Market is one of the best places to sell gold for cash, and they also buy silver and platinum jewelry. They don’t focus on the item’s condition and are completely transparent throughout the entire selling process.

Reliability: Alloy is known for their top-notch customer service and transparency. Their goal is to provide a user-friendly and transparent process to sell gold in this ever-changing market. Alloy is a Better Business Bureau-accredited business with no complaints and has a 4.8-star rating out of 5 stars on Trustpilot, it seems like everyone agrees.

How to Sell: To sell your gold to the Alloy Market, you must complete an online form to claim your free appraisal kit. It should arrive within 2 – 3 days and includes a prepaid shipping label and $100,000 in insurance. Upon receipt, a professional appraiser will evaluate the gold based on its weight and purity. They don’t look at the condition. The professionals look at the market’s current price and send you an offer. You can also get a free upfront estimate using the Alloy app.

Pay: Once you accept an offer, Alloy promises to pay you the same day. Depending on how you requested payment, the funds may hit your account in a matter of hours or a few days as they offer PayPal, Zelle, Venmo, ACH deposit, and check payments.

3. Express Gold Cash

Express Gold Cash has been in business for over 25 years. They buy golden jewelry such as engagement rings, watches, golden coins, dental gold, and other metals.

If you’re not sure if you can sell them your item, you can contact them via phone or through the online form.

Reliability: Express Gold Cash claims to be honest, transparent, and reliable with its calculations. The company is also rated A+ by the Better Business Bureau and has 4.9 stars on Trustpilot with over 5,500 reviews.

How To Sell: If you wish to sell gold to Express Gold Cash, you must request your Appraisal Kit by completing an online form. You will receive shipping instructions and get paid in 24 hours once they receive the package and you accept the offer. All shipments go through FedEx Overnight, are free, and are insured for up to $5,000.

Pay: Express Gold Cash pays as much as 98% of the gold bullion value and up to 90% of refined jewelry value. The price of gold depends on the current market price, which you can find updated daily on their website. You can also see many different items and the prices they paid on their website. The Best Price Guarantee matches a better offer from the competition when it’s for no more than 90% of the current day’s market price.

4. Luriya

Luriya is a well-known name in Manhattan’s “Diamond District.” They’ve been buying gold for more than 20 years now, and if you cannot visit their store in New York, you can also sell your gold online.

Reliability: Luriya is known for its professional team and excellent customer service, which they have offered for many years. When moving their service online, they kept the same quality of customer experience they are known for, so you can only expect the best.

How To Sell: You can sell gold to Luriya by filling out their mail-in kit form. You will send the items via FedEx with a prepaid label. Once you receive a kit, place your items in the envelope and send it back to them. Shipping is free and insured up to $1,000. They can make arrangements for up to $1 million if you need more insurance.

Pay: Luriya does not have much information on their website on how much they pay for gold. To get an offer, you can either order a mail-in kit or fill in the details for free valuables appraisal. Their team of experts will then examine your gold item carefully and offer you a fair and competitive payout.

5. SellYourGold.com

SellYourGold has been buying gold for over 50 years. The company uses proprietary technology to test gold items rigorously and provide you with the best offer. They buy all kinds of gold items, including jewelry, coins, and bullion.

Reliability: Many people choose to sell their gold to SellYourGold. With so many years of experience and promises to offer the best price, it’s not a surprise. They also have an A+ Better Business Bureau rating and a 4.8-star rating on Trustpilot with over 7,900 reviews.

How To Sell: To sell your gold item to SellYourGold, you must go to their website and fill out the online form to receive your free appraisal kit. After securely packing your gold items, you must ship the package through FedEx. The shipping is free and insured for up to $5,000. If you need more insurance, this can be arranged over the phone. They promise to give you an offer the same day they receive the package and payout within 24 hours.

Pay: SellYourGold claims to have one of the best payouts in the market. They have paid over $60 million to their customers. The price, of course, depends on the market price for gold, which can be found on their website. SellYourGold will match competitors’ offers if you find a higher one.

How Do I Sell Gold for Cash?

Once you have decided to sell your gold items, such as jewelry, coins, or gold teeth (yep, you read that right, teeth), you need to know exactly what you have and how much you can expect to get for it.

You can quickly get an estimated worth of your gold item using online calculators. Once you know how much you can expect, see which of the available selling methods is the most convenient for you. You can also check with a few places and compare what they offer, helping you get the most buck for your gold.

You can sell your gold items both online and offline. There are many online gold buyers to choose from, which is typically the easiest, quickest way to sell gold.

Offline places are physical stores and pawn shops that buy gold. Look around your neighborhood to see if there are any.

Where to Sell Gold for Cash Offline

No matter where you live, you have probably seen many places near you where you could sell gold for cash. Not all stores have a great reputation, but some are reputable.

Three Main Types of Outlets To Sell Gold For Cash:

  1. Pawnshops: Pawnshops are known to be a better offline place to sell your gold than cash-for-gold places near you. They usually offer higher prices, and the process takes just 5-15 minutes. While these types of outlets might not have a good reputation, you can always choose chain outlets, for reassurance.
  2. Local Jewelers: Many local jewelers near you will buy gold, similar to cash for gold outlets. It might be convenient if you have one of these shops in your area. Some offer a reasonable price, but it is always best to check with a few buyers to find the best offer.
  3. Gold Exchanges or Cash for Gold: There are many of these types of stores in every city. It is a fast and convenient way to get cash for your gold. They buy gold for melting and reusing, so the price they will offer might be a bit lower than other options.

Is it Better to Sell Gold at a Pawn Shop?

Pawn shops are great for fast cash. Most of the time, they offer better rates than other offline outlets, especially chain pawn shops.

The main advantage pawn shops have when compared to online buyers is time. By selling your gold in a pawn shop, you can complete the process in 10 minutes or so if you decide to visit a few of them and pick the best offer.

If you choose to sell your gold online, you will have the convenience of not going anywhere and saving time there.

On the other hand, you will most likely have to wait a few days to receive an offer, and if you are not happy with it, you can send the item to a different buyer, which will take another few days.

How To Check If Your Gold Is Real

If you can’t find a stamp on your gold item, there are a few tricks to check if the item you have is gold or not.

While only a professional will be able to tell you exactly the karat of your gold, you can check if it is fake or real with one or more of the following tricks:

  • Heat: Hold the item over a steady flame. You can use a lighter or a stove, but not a blow torch. Fake gold gets darker or changes its color in another way, and real gold gets brighter when hot.
  • Magnet: Use a strong magnet to see if the item is attracted to it. You can get a strong enough magnet from a hardware store. Gold is not magnetic and will not be attracted to it. If your item is magnetic, then, unfortunately, it is not gold.
  • Skin: If the jewelry colors your skin green or black, it is not gold. Gold jewelry will never color your skin.
  • Water: Put your gold item in a glass of water and leave it for a bit. Real gold will sink, so it’s not gold if it floats. Unlike some metals, gold will not get rusty, no matter how long you leave in the water.

How To Calculate The Price Of Your Gold Item

There are many gold price calculators online where you can calculate the price of your gold item.

To get an accurate calculation, you must enter the weight and karat. To get the weight of your item, simply use a sensitive kitchen scale.

The karat number can usually be found on the item itself. You should be able to find a stamp on the back or inside of the item. You will most likely find karats, for example, 18K, which means the item is 18 karat gold.

Gold items might also have a three-digit number on the stamp. See the meanings of those numbers below:

  • 999: 24 karat – 99.9% gold
  • 990: 22 karat – 99% gold
  • 916: 22 karat – 91.6% gold
  • 750: 18 karat – 75% gold
  • 585: 14 karat – 58.5% gold
  • 375: 9 karat – 27.5% gold

Frequently Asked Questions

How Much Does Gold Sell For?

Gold prices depend on many factors. The market price for gold changes daily, but prices here are for gold bullion and other forms of pure gold. If you have other gold items, the price will not match the market price and, in most cases, will be lower.

The selling price can be higher if you have rare gold coins, jewelry, or other items with added value. It is easy to calculate the price you can sell your items for using online calculators. If your item has added value, it would be best to consult professional jewelers or experts at coin shops to get an accurate value.

How Much Is Gold Worth Per Ounce?

The value is based on many factors, but the main one is the current gold bullion market price. The average price per ounce for 2023 is $1,932. This price is set for pure gold, like gold bullion. If you have jewelry or other gold items, they are most likely mixed with other metals, so the price will be lower.

How Much Can I Get For a Gold Dollar Coin?

The price of a gold dollar coin depends on many factors. You can expect to get anywhere from $200 to tens of thousands of dollars for a coin. You can easily find online calculators to check how much you can get for your gold dollar coin.

Factors Determining Price:

  • Purity. As with other gold items, the higher the karat, the higher the value of your coin.
  • Weight. Since the price of gold is calculated per gram or ounce, each gram your coin weighs counts.
  • Condition. Great or mint condition of your gold coin can increase the value of your coin multiple times.
  • Rarity. Rare coins are worth much more than common ones.

Should You Sell Your Gold?

Selling gold is a great way to make extra cash really quickly. With many appraisal tools and buyers available, getting the most cash possible is also relatively easy.

Getting different quotes and keeping an eye on the gold market can help you make even more money.

If you’re in a hurry to get cash for your gold, there are always different offline options. But be sure you’re dealing with the best places to sell gold for cash to increase your earnings.

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  • Comment Author image blank
    I notice that most of your buyers insure up to $1000. That isn't worth much when a 1 oz. Gold American Eagle is selling for over $2000.