Best Place to Sell Gold Online: Who Pays the Most

The best place to sell gold online depends on what you're selling. A tangled 14K chain, a 1 oz gold coin and a signed vintage brooch each have a different best buyer, and picking the wrong one can cost you a quarter of the value. Here's how to match your gold to the right online buyer, check their math and ship it safely.

The short answer

For comparison, local gold buyers and coin shops typically pay 75–90% of melt. Jewelers pay 70–85%, pawn shops 60–80%, and gold parties or mall kiosks 30–60%. The best online buyers come out ahead mostly because big refiners skip the middlemen and process high volume.

Step 1: Know your melt value before anyone quotes you

Every fair offer for scrap gold starts with melt value: weight × purity × spot price. Do this math yourself first. That way a quote is something you check, not something you have to trust.

Current melt values by karat:

Example: a 20-gram 14K chain has a melt value of about 20 × $73.57. A buyer paying 90% should offer roughly 20 × $73.57 × 0.90. If the offer comes in far below that, you'll spot the gap right away.

Two notes. First, online buyers often quote in pennyweights (1 dwt = 1.555 g), so check which unit they're using. Second, a kitchen scale that reads to 0.1 g is fine for an estimate, and one that reads to 0.01 g is better. Our scrap gold calculator handles mixed karats. The 14K gold price per gram page tracks the most common US jewelry karat live.

The online options, compared

Mail-in refiners: usually the best choice for scrap

Refiners that buy directly from the public skip the layers between your ring and the melting pot. The good ones publish a payout percentage or a formula tied to the live spot price. They test your items, often with an XRF analyzer, and send you an itemized offer.

The percentage gap adds up. On a lot with $2,000 of melt value, the difference between a 92% refiner and a 70% jeweler is $440. That's real money for a box and a trip to the post office.

Bullion dealer buybacks: the best choice for coins and bars

If you own American Gold Eagles, Maple Leafs, Krugerrands or bars from known refiners, don't sell them as scrap. Big online bullion dealers post buyback prices tied to spot, and recognized products often fetch 97–100%+ of spot. Check the posted buy prices at two or three dealers on the same day. Our gold coin and bar values page shows how much gold common products contain.

Marketplaces: for pieces worth more than their gold

A signed Cartier bracelet, a Victorian locket or a graded rare coin can sell to collectors for well over melt. Marketplaces reach those buyers, but there are costs:

• You pay listing and final-value fees.
• You handle the photos and shipping.
• You take on the risk of returns and fraud.

For plain scrap, that hassle rarely beats a refiner paying 85–95%. Our guide to selling gold jewelry online covers marketplace selling in more detail.

Mailer kits: the classic trap

Somebody pays for those late-night TV ads, and it's usually the seller. The common pattern goes like this: a low first check, a higher counteroffer if you complain, and a mailer insured for less than your gold is worth. If a company won't state its payout in writing as a percentage of melt, move on.

How to vet an online gold buyer

Before you ship anything, confirm the buyer does all of the following:

• States its payout clearly, as a percentage of melt or spot, using the live price on the day your items are processed.
• Provides fully insured shipping both ways, with coverage at least equal to your melt value. If the coverage cap is too low, ship with your own insured, tracked service.
• Sends an itemized offer listing the weight and karat of each piece, the spot price used and the payout percentage.
• Holds your items unmelted until you accept, and returns them free if you decline.
• Waits for your approval before paying. Avoid buyers that auto-accept if you don't respond within a day or two.
• Charges no hidden fees for assay, processing or return shipping.
• Has a track record you can check: years in business, a real address and phone number, and a complaint history with the BBB and your state attorney general.
• Pays the way you want (check, ACH, PayPal or wire) and tells you when the money will arrive.

How to sell gold online, step by step

1. Sort. Group your pieces by karat stamp (10K/417, 14K/585, 18K/750). Set aside coins, signed designer pieces and anything antique, since they may be worth more than melt.
2. Remove what doesn't pay. Most refiners pay little or nothing for small stones. Pull out larger diamonds and get them appraised separately.
3. Test anything unmarked. Plated or fake pieces just slow the process down. See how to tell if gold is real.
4. Weigh and calculate. Write down the weight of each group and your melt estimate.
5. Get quotes from two or three buyers. Compare their stated payout percentages, not their ads.
6. Document everything. Photograph each piece on the scale. Then video yourself packing and sealing the box, and keep an itemized list.
7. Ship insured, with tracking. Use a plain box, and never write gold or jewelry on the outside.
8. Check the offer against your math. Accept it, counter it or ask for your items back. A good buyer will explain any gap, such as a piece that tested lower than its stamp.
9. Keep the paperwork for taxes.

Our 8-step guide to selling gold goes deeper on negotiating.

Red flags to walk away from

• Ads that promise top dollar but never name a percentage.
• A payout quoted as a percentage of something vague, like retail value or the company's own price.
• Offers in the 30–60% range. That's gold-party money.
• Decline windows of 24–48 hours, or automatic acceptance if you don't respond.
• Return-shipping or restocking fees if you say no.
• Pressure to decide over the phone before you've seen an itemized offer.

When selling locally beats online

Online isn't automatically best. Selling locally can make more sense when:

• Your lot is small. On one thin chain, the gap between a good online payout and a good local coin shop may be just a few dollars.
• You need cash today. Mail-in selling takes time.
• You want to watch the weighing and testing. Seeing it happen in person is worth something to some people.

The best play is often to get an online quote first, then let local buyers try to beat it. Our guide to selling gold near me shows how to compare local buyers.

Don't forget taxes

Profit on physical gold held more than a year is taxed as a collectible, at up to 28% federally. Gold held a year or less is taxed at ordinary income rates. Your gain is the sale price minus your cost basis. Inherited gold usually gets a basis equal to its value on the date of death.

Dealers must file Form 1099-B for certain bullion sales, such as larger quantities of some coins and bars. Scrap jewelry sales usually don't trigger one, but you owe tax on any gain either way. Keep your receipts, and talk to a tax pro if the amount is significant.

The bottom line

The best place to sell gold online is the one that fits your item:

• Scrap jewelry: a reputable mail-in refiner, typically 85–95% of melt.
• Bullion coins and bars: a bullion dealer's buyback desk, often 97–100%+ of spot.
• Collectible pieces: a marketplace or auction where collectors will pay more than melt.

Whichever route you choose, work out your melt value first, get the offer in writing and ship insured. Never accept an offer you can't check against your own math.