scroll top

8 places to sell gold for cash, online and near me, in 2022

We get commissions for purchases made through links in this post. Here's more on how we make money.

Many people have a small horde of gold jewelry, coins, and scrap. After hitting a record high in March, gold prices have been dropping, with analysts predicting more declines to come.

If you’re thinking about selling your gold, it’s important to find a legit buyer that you trust won’t rip you off. We assessed online and in-person gold buying options, based on:

  • Third-party and customer ratings from Better Business Bureau, TrustPilot, and more re: happy customers
  • Speed of payment
  • Ease, including convenience, privacy and how picky the buyer is
  • Security, including insurance

Below is a look at the best ways to sell gold, including our No. 1 recommendation when it comes to selling your gold, which is the CashforGoldUSA, which pays within 24 hours and has an A+ rating with the BBB.

This post is a good read if you need to understand gold prices today, as well as how to assess the value of your gold.

8 places that buy gold

  1. Search for “online gold buyer” and sell your gold online
  2. Search for “gold buyers near me”
  3. Search for “cash for gold near me”
  4. Pawn shops
  5. Coin dealers
  6. Jewelry stores
  7. Antique stores
  8. Recyclers

1. Search for ”online gold buyers” and sell your gold online

Selling online can be scary. What if your item gets lost in the mail? Stolen? How can you trust an online gold, silver or jewelry buyer?

Online gold buying is a very competitive space, and therefore it behooves buyers to be ethical, fair and maintain a very high reputation both online with users and reviews, as well as with their trade organizations, the Better Business Bureau and other agencies. Note that most gold buyers also buy silver — coins, flatware, jewelry, candlesticks, and more.

To find who is buying, search for “online gold buyers” or “online gold dealers.” You will see a lot of results and wonder if selling gold online is safe, and whether these are reputable online gold buyers.

CashforGoldUSA is our choice for gold buyers, because they meet these requirements and more, paying within 24 hours and offering a 10% bonus if you ship within a week of receiving your mailer. The company has an A+ rating with the Better Business Bureau.

Typically, the process of selling your gold online works like this:

  1. Get a quote online through the gold buyer, based on the weight and quality of your item. If you don't know the details, just estimate.
  2. The gold buyer should send you a free FedEx or USPS mailer, with a tracking number. They should also insure your item for free.
  3. Within a couple days, a quality online gold buyer should make you an offer. Accept or reject it.
  4. A gold buyer should then pay within a few days by PayPal or send a check, if you prefer.
  5. A quality online gold buyer should also offer to return your item for free via a trackable shipper if you choose not to sell.
CashforGoldUSA display ad

Other online gold buyers

Those we considered other online gold dealers when deciding on the “best” gold buyer included:

  • Liberty Gold and Silver
  • Luriya
  • Money Metals Exchange
  • SellYourGold.com
  • US Gold Buyers
  • APMEX
  • Kitco
  • JM Bullion
  • American Bullion
  • Goldco Precious Metals
  • Gold Geek
  • Gold Guys

After an exhaustive review of these companies, here are all the reasons we ruled them out and why CashforGoldUSA is the best: 

  • Strong customer service focus, which is reflected in the BBB and TrustPilot ratings, as well as prompt communication through whichever communication the customer prefers: Text, phone, or email. 
  • Guaranteed highest price paid, backed up by third-party news investigations. 
  • Free shipping and insurance with a global brand. 
  • CashforGoldUSA is one of the oldest, most established and largest online gold buyers.
  • 24 hour payment is unprecedented in the industry.

The sister site, CashforSilverUSA specializes in silver jewelry, silver coins, flatware, and silver scrap. Learn about the value of your silver, and where to sell silver.

White gold vs yellow gold: What’s the difference, which is worth more?

What are online gold buyers paying?

Online gold buyers typically pay gold sellers based on the current spot gold price, plus any commission or fee that they want to make a profit. A 20% profit is common and fair. Sometimes you can negotiate the price the gold buyer offers to pay you. As you will read below, our own independent research found that online gold buyer CashforGoldUSA paid twice that of a local pawn shop, and as much as four-times a cash-for-gold shop.

As of , the spot gold value in the United States was at $ per ounce, or $ per gram, down from the record high of $2,074.60 per ounce on March 8, 2022. 

2. Search for “gold and silver buyers near me”

If you searched online for or are thinking about searching for “gold buyers near me,” (or silver buyers) here’s what you’re likely to find: jewelry stores and pawn shops. These are fine options if you need to cash now, but not if you want the most cash for gold or silver.

google-maps-usa-image

Where can I sell gold near me?

Jewelry stores and pawn shops typically buy gold, though because the competition in local markets is less competitive, and the overhead of maintaining a retail location more expensive than online options, selling your gold near you typically nets a lower payout to you. Also, it can be much easier to ship and sell your item to a quality online gold buyer.

There are many reputable jewelers who can offer a jewelry appraisal that can help you understand the quality and value of your item — whether or not you choose to sell to your jewelry.

Who pays the most for gold: pawn shops or gold buyers near me?

Cash for gold stores, or “We Buy Gold” stores are locations that solely buy gold, and sometimes silver, and pay cash (just like the name says!). Pawnbrokers and jewelry stores will deal in metals, as well as other items.

Pawn brokers and gold buyers or cash-for-gold shops typically pay similarly — anywhere from 25% to 85% of the day's spot price of gold.

To find out what are gold buyers near you are paying, it is a good practice to take your gold to several local businesses that buy gold and find the highest offer.

CashforGoldUSA display ad

3. Search “cash for gold near me”

How much is gold or silver worth at a cash-for-gold?

Whether you are selling your metal item at a pawn shop, local jeweler, or a cash-for-gold / gold exchange location, the answer is: It depends.

You can look up your local gold buyers on Yelp and the Better Business Bureau for info on a reputable buyer, and call them to ask their gold melt price.

Typically, the more cash for gold buyers in your area, the more competitive they are, and will offer you a higher price. Remember: most will also buy silver.

Ask the gold buyer how much they pay above “spot,” which is the base market rate. In that way, you can shop around before deciding where to sell your gold.

Generally speaking, cash-for-gold stores typically pay a maximum of 70% of melt price, while pawn shops pay even less. CashforGoldUSA reports paying an average of 80% of gold melt price for jewelry, inclusive of all insurance and shipping — including free returns. For gold coins and gold bars, expect 95% melt price.

How do cash for gold stores work?

Whether you sell online or near you, cash-for-gold buyers (a.k.a. gold exchanges) work like this:

  1. You bring in your gold jewelry, coins or scrap.
  2. The buyer weighs your item and tells you what karat gold it is.
  3. The buyer offers you a price for your item.
  4. Take it or leave it.

What percentage does a cash for gold pay?

Each gold buyer offers you a different rate — which they may or may not disclose to you. In larger markets where there is more competition — including on the Internet! — cash for gold buyers may take just 3% to 5% on top of the spot price of gold that day. It is typical for a gold exchange to earn 20% on each transaction, but of course that is before their expenses such as rent, taxes and payroll.

4. Pawn shops

Pawn shops typically pay about 25% of the retail value of your item, but pay immediately and in cash. You can learn here what pawn shops buy and how pawn shops work.

5. Coin dealers

Coin dealers can range from gold and silver buyers to high-end experts who deal in very rare and valuable coins. Learn more about selling gold coins and selling silver coins to reputable buyers.

6. Jewelry stores

Jewelry stores often buy scrap gold, as well as vintage or estate pieces — whether for cash or store credit.

7. Antique stores and auctions

Antique stores and auctions often deal in estate jewelry and old coins, and can help you get a fair price if you know what you have and work with a quality auction house — whether online or near you.

8. Recyclers

Gold and silver recyclers are in the business of taking your scrap metal or old jewelry and turning it into cash.

CashforGoldUSA display ad

Frequently asked questions about gold buyers 

Gold buyers and gold dealers can seem mysterious and untrustworthy. There are quality places near you that buy gold of all kinds.

How do gold buyers make money?

Gold buyers make money one of three ways:

  1. A gold buyer can buy your gold coins, raw gold, jewelry or bullion, and then sell it to another buyer — either wholesale or retail buyer — for a higher price.
  2. A gold buyer may buy your broken or old jewelry, gold teeth or scrap gold and sell it to a smelter, who melts down the gold, extracting out the pure gold metal from the impurities and alloys, so it can be reused for other purposes.
  3. A gold buyer may choose to hold on to gold he or she buys, and resell it when the price of gold goes up.

How do I find a reputable online gold buyer? How do I find a reputable gold buyer online?

The cash for gold, pawn shop, gold exchange and online gold buyer industry can have a shady reputation, with plenty of stories of innocent people getting ripped off. To check out a gold buyer before selling your gold:

  • Ask friends and family for a recommendation
  • Check reviews and ratings from the Better Business Bureau, Trustpilot and Yelp!
  • Google the name of a potential gold buyer + review
  • Only work with online gold buyers that insure your item, and have a guarantee to return your item free of charge should you decide not to sell after sending in your coin, scrap or jewelry.

What are gold buyers paying?

Gold buyers typically pay gold sellers based on the current spot gold price, plus a commission. A 20% profit is common and fair. Sometimes you can negotiate the price the gold buyer offers to pay you.

CashforGoldUSA display ad

How much commission do gold buyers take?

Gold buyers make an average of 20% commission, though the portion varies. Arm yourself with an understanding of the day's gold price to best negotiate the sale of your gold.

As of , the spot gold value in the United States was at $ per ounce, or $ per gram, down from the record high of $2,074.60 per ounce on March 8, 2022. 

What are gold parties? Should I sell gold at a gold party?

Gold parties are like Tupperware, Pampered Chef or Mary Kay, Pure Romance or any other multi-level marketing program. However, instead of selling items you probably won't use, gold party hosts will buy your gold jewelry that you don't use.

These are legit businesses, but news investigations find that gold parties do not pay as much as other gold buyers. After all, the gold party host takes a commission, then sells the gold to another buyer who takes a commission.

While it may sound fun to hang out with some local ladies, have drinks and make a little cash, that free booze may lower your inhibitions and good sense when unloading your precious metals. You are less likely to push back against the price offered by someone you know personally, in front of people in your community, when compared with a local or online gold buyer. Plus, how knowledgeable about gold is the host? Most likely: Not very.

Bottom line: What is the best gold buyer? 

CashforGoldUSA has an A Better Business Bureau rating, and also will buy your precious metals, diamonds and gemstones. This family-owned and operated business promises to pay within 24 hours, insures your item up to $100,000 through Jeweler's Mutual insurance and guarantees the highest offer.

Learn more about the pros and cons of CashforGoldUSA with our review, or get a quick quote with their online gold calculator now.

What are gold buyers paying?

Online gold buyers typically pay gold sellers based on the current spot gold price, plus any commission or fee that they want to make a profit.

What percentage does cash for gold pay?

Cash for gold buyers may take just 3% to 5% on top of the spot price of gold that day.

How do gold buyers make money?

Gold buyers make money one of three ways: reselling your gold for a higher price, selling your broken jewelry to a smelter, or hold on to the gold until the price goes up.

How much commission do gold buyers take?

Gold buyers make an average of 20% commission, though the portion varies.

Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist, author and expert. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, Elle, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker," her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. As an expert on divorce and gender, Emma presented at the United Nations Summit for Gender Equality and multiple state legislature hearings. More about Emma's credentials.

One Comment

I guess I have more of a question than a comment. I am a single mommy as well and trying to navigate in this fast moving world can be tricky at times. I have a huge issue with trust and therefore any business wether online or in person is executed very cautiously. My question is if you compare the price with the average price it would be selling for then why wouldn’t it just be easier to sell it online from directly from yourself (Ebay for example)? Is it just too much hassle? My biggest issue right now is trusting that shipping my items will be safe. I’ve already been ripped off by a local gold exchange so I pretty much know how that route will go. Any advice would be appreciated. Your article was great and well informative so high five on that! Thanks again and take care.

Leave a Reply

Your email address will not be published.