Sell Gold Near Me: Who Pays the Most and How to Check

Searching "sell gold near me" returns a map full of pawn shops, jewelers, coin shops and "WE BUY GOLD" signs. Their offers can differ a lot for the same items. On the same handful of jewelry, one buyer might offer twice what another does.

This guide compares every common type of US gold buyer by what it typically pays, how fast you get paid, and how safe the deal is. It also includes a checklist for before you walk in.

First, know what your gold is worth

Every buyer starts from melt value: the pure gold in your item multiplied by the spot price. Their offer is a percentage of that number. If you don't know the melt value, you can't tell whether an offer is fair.

The formula is:

Weight in grams × karat purity × spot price per gram of pure gold

You can skip the math by using the per-gram price for your karat. Today's figures:

Example: a 20-gram 14K chain has a melt value of about 20 × $78.89. An offer of 80% of melt would be 16 × $78.89.

To run your own numbers, use our scrap gold calculator. Enter the weight and karat, and it shows the melt value at the current gold price plus what each payout percentage works out to.

Two unit traps to watch for:

• Pennyweight (dwt). Many buyers quote in dwt, and 1 dwt = 1.555 g. A price "per dwt" looks higher than a price "per gram," but they are different units.
• Troy ounces. The headline spot price is per troy ounce, which is 31.1035 g. It is not the 28.35 g kitchen ounce.

Every place to sell gold, compared

The payout ranges below are typical percentages of melt value for scrap gold, meaning jewelry, broken pieces, dental gold and similar items. Bullion is covered separately further down.

A few notes on the table:

• Refiners and big mail-in refiners pay the most because they melt the metal themselves, which removes a middleman. The trade-off is time. Mail-in sales also require trust, so stick with firms that have a long track record and publish their payout terms.
• Small TV-ad mail-in operations are not the same as large refiners. Some send a low first offer and count on you not asking for your items back.
• Jewelers sometimes pay above melt for pieces they can resell, such as signed brands (Cartier, Tiffany) or antique work. For generic chains and rings, expect scrap pricing.
• Pawn shops move fast and must follow state rules, but their offers sit near the bottom. See our pawn shop gold prices page for what they typically pay by karat.
• Online marketplaces can bring the highest gross price for collectible items. Once you subtract seller fees, shipping and the risk of a fraudulent buyer claim, plain scrap usually nets less than a good local buyer would pay.

Selling bullion coins and bars is different

Recognized bullion isn't scrap. American Gold Eagles, Buffalos, Krugerrands, Maple Leafs and branded bars from known refiners often sell back for 97–100%+ of spot, because the buyer can resell them without testing or melting.

The best places to sell bullion are coin and bullion shops and established online bullion dealers. Pawn shops and jewelers usually treat bullion like scrap and pay less.

Check our gold coin and bar values for the gold content and live melt value of common coins before you get a quote.

How to check a gold buyer before you go

Any buyer near you can say they pay "top dollar." These checks show whether one actually does.

1. Reviews, read the right way

• Look at Google, Yelp and the Better Business Bureau. Read the 1-star and 2-star reviews, not just the average score.
• Red flags in reviews include: "offer dropped after they tested it," "wouldn't tell me the weight," "pressured me," and "different price than on the phone."
• Local subreddits and community forums often name specific shops that pay well, and ones that don't.

2. Licensing and ID rules

• Many states and cities require precious metals dealers, secondhand dealers or pawnbrokers to hold a license. Ask to see it, or check your state or city licensing office.
• A legitimate buyer will ask for your government ID and may record the transaction, take a photo or take a thumbprint. These are anti-theft rules. A buyer who skips all paperwork is more of a warning sign than a convenience.
• Some states require buyers to hold items for a set period before melting them. That rule affects the buyer, not your payment.

3. The scale

• The scale should be a legal-for-trade scale. In the US, that usually means NTEP-approved, and many states also add a weights-and-measures inspection sticker.
• It should face you, or the display should be visible to you, while your items are weighed.
• Ask which unit it reads in: grams, dwt or troy ounces. Then compare the reading to your own weighing at home.
• Gemstones, pearls, springs and steel clasps add weight but contain no gold. A fair buyer will deduct them or explain how they handle them.

4. Testing in front of you

• Common methods are acid testing, electronic testers and XRF analyzers. XRF is non-destructive and the most precise.
• Testing should happen where you can see it. If a buyer insists on taking items into a back room, that's a reason to leave.

5. A written, itemized quote

Ask for the weight, karat and price for each group of items, plus the spot price they used. If a buyer won't put numbers in writing, they're relying on you not doing the math.

Your step-by-step checklist before walking in

1. Sort by karat. Look for stamps such as 10K, 14K, 18K, 417, 585 or 750. Keep each karat in its own bag, because buyers often pay for mixed lots at the lowest karat.
2. Pull out anything that may be worth more than melt. That includes designer-signed pieces, antiques, diamonds over about half a carat, and rare coins. Get those appraised separately.
3. Weigh everything at home on a digital kitchen or jewelry scale in grams. It doesn't need to be perfect, just close enough to catch a big discrepancy.
4. Calculate melt value with the scrap gold calculator on the day you sell, because prices move daily.
5. Set your minimum before you go. For example, decide you won't take less than 80% of melt for scrap.
6. Call three buyers. Ask what percentage of spot they pay for your karat, and whether they charge testing or processing fees.
7. Bring ID. Most licensed buyers require it.
8. Watch the weighing and testing, and get the quote in writing.
9. Compare it to your number. Offer ÷ melt value = payout %. If it's below your minimum, say no thanks. A reputable buyer won't object.
10. Get paid in a traceable form such as a check, bank transfer or receipt with cash, and keep the paperwork for taxes.

Common tactics that cost sellers money

• Lumping karats together and paying the 10K rate for 14K and 18K pieces.
• Quoting per dwt when you are thinking per gram, which makes the offer look about 55% higher than it is.
• Unexplained deductions for "processing," "refining loss" or "testing."
• Time pressure, like "this price is only good right now." Gold prices move, but a fair offer won't collapse in an hour.
• Calling white gold "not real gold." White gold is priced by karat like yellow gold. See our white gold price per gram page.
• Silver mixed into the pile. Sterling and old US coins have real value too. Check our silver coin melt values before letting a buyer throw them in for free.

Taxes on selling gold

In the US, profit on physical gold, including bullion and jewelry, is generally taxed as a collectible. Long-term gains face a federal rate of up to 28%. Short-term gains (items held one year or less) are taxed as ordinary income.

The taxable profit is your sale price minus what you paid. For inherited items, your cost basis is generally the value on the date of death. If you sell personal jewelry for less than you paid, the loss usually isn't deductible.

Dealers may file reporting forms for certain bullion sales in larger quantities. Whether or not a form is filed, the gain is still reportable. Keep your receipts, and talk to a tax professional if the amounts are significant.

The bottom line

Know your melt value before you walk in, sort by karat, and get at least three quotes. For scrap jewelry, a good local gold buyer or coin shop paying 75–90% is usually the best mix of speed and price. Refiners pay a bit more if you can wait or have a larger lot.

For recognized bullion, a coin shop or bullion dealer should pay close to spot. Skip gold parties and kiosks, and treat any buyer who won't show you the scale or put the offer in writing as a no.