Where and how to sell gold chains for the most money in 2022

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Do you have an old gold chain — maybe that you haven’t worn since high school — buried somewhere in your sock drawer or cluttering a jewelry box?

If you have a gold chain you no longer wear, now is a great time to sell it. Gold prices have increased nearly 15% in the last year — and 7% in the last month alone.

If you want to sell your gold chain quickly and for the most money, we recommend CashforGoldUSA, which has an A+ Better Business Bureau rating, pays within 24 hours, and will give you a 10% bonus if you send your item within 7 days. Our research found that CashforGoldUSA pays more than other gold buyers online and near you (more on this later).

Get a free quote from CashforGoldUSA now >>

Here are answers to common questions you might have about selling gold chains:

Where can I sell my gold chain for the most money?

The best way to sell your gold chain for the most money is to a fair and ethical online buyer like CashforGoldUSA. They will take all karat, weight and condition — including broken.

Online buyers face a lot of competition, which incentivizes them to pay you the highest price for your gold chain and other gold, silver, platinum and diamond items. While you can sell your gold chain “near me” to a local pawn shop or jewelry store, you likely won’t make as much money.  

Where can I sell gold chains online?

There are numerous online buyers that will buy gold chains and other necklaces. You can consult the Better Business Bureau and Trustpilot to read customer reviews and look for potential red flags like lawsuits or negative press. We put together a list of the best places to sell gold online and in person in 2022.

Based on our exhaustive review, CashforGoldUSA.com is our top choice to sell your gold chain online and the best place to sell your gold chain period. 

CashforGoldUSA

CashForGoldUSA is our top recommendation for selling gold chains — and any other gold pieces you own, including earrings, bracelets, gold bullion, gold scrap, raw gold, and even dental gold. Here’s why we like them: 

  • A+ Better Business Bureau rating
  • Payouts within 24 hours
  • Easy, straightforward process
  • Free FedEx shipping insured by Lloyds of London for up to $100,000
  • Free, immediate returns if you decide not to sell 
  • 10% bonus when you mail your gold chain within 7 days
  • Buys 100% of your gold, silver, diamond and gemstone jewelry, coins, flatware, and fine watches — no matter the weight or value 
  • A Fox Business News investigation found that CashforGoldUSA pays three times its competitors:

Where can I sell gold chains near me?

Depending on where you live, you can likely find several physical locations to sell gold chains locally if you search for the “best place to sell gold chains near me.” However, local jewelry stores, pawn shops, and cash-for-gold locations typically won’t pay as much as top online gold buyers like CashforGoldUSA.  

Sell your gold chain at a local jewelry store

Selling your gold chain at a local jewelry store is a good option if you need money quickly, but you likely won’t get the highest price. 

That’s because local jewelry stores have high overhead costs that come with running a brick-and-mortar business. 

Sell a gold chain at a pawn shop

Most pawn shops do buy jewelry, including gold chains, though they typically pay a lot less than online gold buyers.  

Sell gold chains at a cash-for-gold store

Most cash-for-gold stores don’t face a lot of competition and have high overhead costs associated with running a physical business location. This means your payout likely won’t be as high as your payout from a top online buyer like CashforGoldUSA. 

Other places to sell gold chains

You can also sell gold chains on online marketplaces like Etsy and eBay or consignment sites like Poshmark or Mercari

On these sites, you can set your own price, though it’s easy to under or overprice your gold chain, which means you’ll either leave money on the table or have trouble finding a buyer who will pay what you’re asking. 

When setting your price, do a comparison search to see what similar items have recently sold for on the platform you choose. 

How much is my gold chain worth?

Know what you have in your gold chain

Online gold buyers typically pay based on the current spot gold price — which is the buying or selling price of gold in the market at any given time — plus a commission fee (20% is fair and common). 

Gold prices this year exceeded $2,000 for only the second time in 50 years. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.

Your gold chain will be valued based on the weight and purity (measured in karats) of its gold content. You can estimate the value of your gold chain with CashforGoldUSA's gold calculator, which factors in the current price of gold. It is important to note that this is just an estimate, not a final offer.

Gold calculator from CashforGoldUSA.

Get an appraisal

If you plan to sell your gold chain (or insure it if it’s a high-value item), a jewelry appraisal is a statement that spells out the value of your item. Check out our post that details the process of getting a jewelry appraisal.

How do I sell my gold chain for the most money?

1. Don’t accept the first offer

Getting multiple quotes on your gold chain will help you get the most money possible. However, based on our experience and market research, you’re likely to get the highest price from a top online gold buyer like CashforGoldUSA

2. Know the price of gold

You can calculate the value of your gold chain using CashforGoldUSA's gold calculator, which factors in the current price of gold. 

3. Work with a reputable gold buyer

We have done exhaustive research on the gold resale market. Read about my personal experience comparing gold buyers below and why I prefer to sell with CashforGoldUSA.

Emma’s personal experience: How she found the best place to sell a gold chain for cash

I recently comparison-shopped the same 14k, 16″ gold chain necklace that weighed 6 grams.

14 karat 16 inch gold chain necklace.

They were similar to this 16″ women's yellow gold chain for sale at Kay Jewelers for $399:

14 karat gold chain from Kay Jewelers.

These transactions happened over the days of Jan. 11 to Jan. 13, 2022, when spot gold prices ranged from $1,795.36/ounce to $1,848.38.

Below is a summary of the results from my experiment:

OfferProCon
Jewelry store near me$95Local businessLow offer, gross shop
Pawnshop $110Nice people, meh offer, easyThey have my personal info on record
CashforGoldUSA.com$191.97Very easy, don’t have to leave home, transparent process, 10% bonus.Accepts all gold and silver items. No quote until you send in your item, except for the gold appraisal calculator on their site
SellYourGold.com$81.59Good website, good communication after request madeRequires personal ID, bad tech, very low offer
AbeMor.com$0n/a Didn't do business with themDoes not accept smaller items, and minimum is not clear. 
Local cash-for-gold stores$0 to $153Could be quick cash for maybe a decent price?Can be dingy businesses of questionable integrity. 

Read the details of shopping the gold chain around for the highest price in this post about selling gold.

FAQs about selling gold chains

How much will a jeweler pay for gold chains?

While there is no standard price or percentage a jeweler will pay for gold chains, most will pay you based on the spot value of your chain’s gold content, minus a commission fee. A commission of 20% is fair and typical for top online gold buyers, but a jeweler likely will not pay you as much.  

Gold prices this year exceeded $2,000 for only the second time in 50 years. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.

Do gold chains have resale value?

Yes! Your gold chain will be valued based on the weight and purity (measured in karats) of its gold content. Get a free estimate on your gold chain from CashforGoldUSA >>

Where can I sell my broken gold chain?

Most gold buyers are interested in the gold content of your chain rather than the jewelry itself. That means most will accept your broken gold chain and any other old jewelry you own. CashforGoldUSA buys gold items in “any condition, including unwanted, broken and even ugly gold jewelry.”

Bottom Line: Where is the best place to sell a gold chain?

Based on my own personal experience and an exhaustive review of gold buyers,  CashForGoldUSA is our top recommendation for selling gold chains and any other gold or precious metal items you own. 

CashforGoldUSA has very high user reviews and ratings, plus we love that they pay within 24 hours and offer a 10% bonus if you mail your items within 7 days. 

Get a free estimate on your gold chain now >>

Where can I sell my gold chain for the most money?

The best way to sell your gold chain for the most money is to a fair and ethical online buyer that focuses on buying gold.

Where can I sell gold chains near me?

Depending on where you live, you can likely find several physical locations to sell gold chains locally if you search for the “best place to sell gold chains near me.” However, local jewelry stores, pawn shops, and cash-for-gold locations typically won’t pay as much as top online gold buyers.

How much will a jeweler pay for gold chains?

While there is no standard price or percentage a jeweler will pay for gold chains, most will pay you based on the spot value of your chain’s gold content, minus a commission fee. A commission of 20% is fair and typical for top online gold buyers, but a jeweler likely will not pay you as much.

Do gold chains have resale value?

Yes! Your gold chain will be valued based on the weight and purity (measured in karats) of its gold content.

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.

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