Do you have an old gold chain buried in your sock drawer or cluttering a jewelry box?
Have you ever wondered, “How do I sell my gold chains?” Gold prices are nearing record highs, so now is a good time to sell. Keep reading to learn how to value your gold chain, steps to take to sell it, and where to sell it quickly for a good price.
However, if you want the bottom line upfront, the best place to sell your gold chain for cash, we recommend CashforGoldUSA because of its A+ BBB rating, 24 hour payment, no minimum value, and guaranteed highest payout.
Get a quote from CashforGoldUSA now >>
How to sell gold chains
1. Check for stamps or symbols to understand what you own
It's important to understand exactly what your gold jewelry is — the karat of gold, weight, and in some instances, the brand. Familiarize yourself with gold hallmarks, or stamps, that signify the karat of gold — even if you think you know what you have.
Unless you have a large and branded gold chain from a luxury brand like Tiffany or Cartier, you are likely selling your necklace for gold scrap prices.
This chart gives you an idea of the value of amount of gold per karat in yellow gold, assuming a price of $1,900 per troy ounce:
| Stamp | Purity | % gold | Spot value |
| 999 | 24 karat | 99.9% | $1,898.10 |
| 990 | 22 karat | 99% | $1,881.00 |
| 750 | 18 karat | 75% | $1,425.00 |
| 585 | 14 karat | 58.3% | $1,107.70 |
| 375 | 9 karat | 37.5% | $712.50 |
You can always take your gold chain to a pawnshop or jewelry store where they can weigh your necklace and give you an appraisal of your jewelry, or quote to buy.
2. Know the price of gold
The price of gold hovered above $2,000 per ounce through the third week of April this year, after which it has been hovering around that threshold, as experts predict gold is poised to exceed record highs of $2,100 sometime this year.1
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
3. Work with a reputable gold buyer
Sources of information on gold buyers include:
- Better Business Bureau
- Trustpilot
- Yelp!
- Google searches
- Friends
- Family
This post outlines top gold buyers, including in-person gold selling options like pawnshops, antique and jewelry stores, cash for gold locations, gold recyclers, and online gold buyers.
Where to sell a gold chain: 6 options
Below are several options you have for selling a gold chain. Depending on how quickly you need the cash is a factor in what you choose.
1. Sell gold chains online
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.
There are numerous online buyers that will buy gold chains. 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 in 2023.
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.
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 all gold, silver, sterling flatware, diamond and gemstone jewelry, coins, and fine watches — no matter the weight or value (including scrap gold)
A couple recent gold chain sales to CashforGoldUSA:
2. Sell gold chains to jewelers nearby
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.
Local jewelry stores have high overhead costs that come with running a brick-and-mortar business.
To find nearby establishments that buy all types of chains, do a search:
3. Sell to pawnshops nearby
Most pawn shops do buy jewelry, including gold chains, though they typically pay a lot less than online gold buyers, but not always. If you need cash immediately — or are interested in a pawn loan — a reputable pawn broker may be a good option.
4. Sell to cash for gold stores
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.
5. Local or online auctions
If your gold chain is pretty standard, nothing special, a gold buyer will most likely pay you a fee based on the day's spot gold price, and send it to a refinery to melt down.
However, if your chain is a special antique, a marked brand like Tiffany or Cartier, or otherwise special enough that someone may want to buy it for its intrinsic value, it is possible a local or online jewelry auction platform may be interested — especially if your chain is part of a larger estate collection.
6. Sell to a local buyer
You can always post your chain on Facebook marketplace or Craigslist, sell as part of an estate sale or garage sale, or otherwise unload your chain locally.
More here on where you could sell jewelry.
Tips for selling your gold chain for the most money
1. Know what you have in your gold chain
Your gold chain will be valued based on the weight and purity (measured in karats) of its gold content.
This calculator is for information purposes only and is not the amount you should expect to receive. It provides the highest melt value of your gold today, not an offer. Your offer will depend on your appraisal.
White gold vs yellow gold: What’s the difference, which is worth more?
2. 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, which you can get for free or low-cost at a local jeweler.
If your chain features diamonds, a diamond appraisal will evaluate the stones on the 4 C’s: color, cut, clarity, and carat. Learn more about diamond appraisals.
An online gold buyer will also appraise your chain as they give you an offer to buy. These are not legally binding appraisals, but will give you the weight and karat of your chain, along with a cash offer.
3. Don’t accept the first offer
Getting multiple quotes on your gold chain will help you get the most money possible. Start by getting a price from a top online gold buyer like CashforGoldUSA. No matter where you sell, remember you can always negotiate — or say no and take your chain elsewhere.
FAQs about selling gold chains
What is the best way to sell a gold chain?
A quality online gold buyer offers a competitive price, speed to payment, insurance and good customer service, which is why we recommend CashforGoldUSA.
If you need cash ASAP, a good local pawnbroker will buy your gold.
Should I sell my gold chain online?
The benefits of selling gold online is that it can be convenient with a home pickup and privacy, since you don't have to walk into a jeweler or pawn broker. A good online gold buyer will offer insurance, FedEx or USPS tracking, a money-back guarantee and good customer service.
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 — this is often stamped on jewelry. Get a free estimate on your gold chain from CashforGoldUSA >>
What types of chains are worth selling?
The types of chains that are worth selling are any gold, silver, or platinum chain that is made of actual — not plated — precious metal. These chains have resale value, regardless of whether the style is cable, belcher, box, ball, snake, herringbone or wheat chain.
How much is my gold chain worth?
Your gold chains are likely worth their weight x quality of the gold.
However, if your chain is made by a significant brand like Bulgari, Cartier, David Yurman or Tiffany, it is likely worth more as a whole piece.
How much can a gold chain be sold for?
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.
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
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 our personal experience and deep industry research, 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 an offer on your gold chain >>
Sources
- “Three reasons to buy gold now” UBS Wealthy Management, May 18, 2023. https://www.ubs.com/global/en/wealth-management/our-approach/marketnews/article.1591648.html
A quality online gold buyer offers a competitive price, speed to payment, insurance and good customer service. If you need cash ASAP, a good local pawnbroker will buy your gold.
Yes! Your gold chain will be valued based on the weight and purity (measured in karats) of its gold content — this is often stamped on jewelry.
Your gold chains are likely worth their weight x quality of the gold.
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.
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.
