Quick takeaway: Gold prices are at record highs. While there are some shady places that buy gold, CashforGoldUSA.com is a legitimate online gold buyer that has been found to pay as much as three times its competitors.
Keep reading for more details …
You likely have some gold sitting around. Maybe it is old jewelry that you no longer like, or perhaps it was a gift from someone you have negative (or complicated) feelings about. Perhaps you have some old gold coins you inherited, or even gold dental work sitting in the back of a drawer!
Value of gold today—check the price of gold
If you are like me, you have held on to these items, even though you don't use or enjoy them, and you might feel guilty because they were a thoughtful gift, or because they were expensive.
Whether you buy into the decluttering craze or not, unused items, especially those that you have negative feelings about, are best freed from your life. Better yet, why not sell that jewelry, coins, or scrap for hard cash? This is a great time to sell your gold, since the value of gold has been at record prices for the past few months.
- Value of gold today—check the price of gold
- How much is gold worth?
- Gold frequently asked questions
- How to sell your gold
- Where to sell gold
- Where is the best place to sell your gold online?
- CashforGoldUSA review
- FAQ about gold jewelry
Thankfully, there are some quality gold buyers that will give you the top price for your gold, quickly, and in a way that ensures that you get the highest price possible.
Even better news? Selling your gold today is really, really quick and easy, as well as safe, thanks to the technology of selling your gold and other jewelry online.
A few years ago I wanted to know how to sell a gold and diamond ring online (after looking for a place near me to sell gold), and found it really easy:
- I went to CashforGoldUSA.com and estimated the value of my ring using their gold and diamond calculator.
- The price seemed fair, so I requested a USPS mailer, which arrived a few days later. You can also choose to receive a FedEx label.
- I sent in my ring—100% free for me, and insured up to $1,000.
- A few days later I received an email from CashforGoldUSA with an appraisal price for the ring.
- I accepted.
- Within 24 hours I received the sum via or PayPal. You can also receive a check or bank transfer.
CashforGoldUSA.com is one of the
Here is how CashforGoldUSA works:
How much is gold worth?
The value of your gold is based on the current market price of gold bullion, but considers several other factors. As of Jan. 15, 2020, the gold price in the USA was at a near-record price of $1,543.55 per ounce, or $49.63 per gram.
Gold prices have surged by more than 30% over the past 12 months — and 433% since 2000. When the economy and stocks are unstable, prices of gold historically rise. In other words: Now is an excellent time to sell your gold!
Unless you have gold bullion, or another form of pure gold, your gold item is mixed with other metals, or alloys. The higher the percentage of gold in your jewelry or coin, the higher the value. Gold is measured in karats, with 24-karat being the purist gold, and the most valuable.
Price for gold calculator
CashforGoldUSA's online price for gold calculator is very accurate because it automatically uses the gold price as of today, and calculates the value of your item based on the karat of gold, and the weight in grams or ounces.
Scrap gold calculator
Similarly, CashforGoldUSA's online scrap gold calculator helps you understand the price for your scrap gold based on today's gold price, the gram or ounce weight and karat of your scrap.
Gold frequently asked questions
Why gold is valuable
Gold is a fascinating commodity — one of the oldest forms of investment, wealth, as well as deeply sentimental when in the form of jewelry and other art. Plus, unlike stocks and bonds, gold is beautiful, and unlike real estate, highly transportable.
Because pure gold is a chemical element, it is finite — it is impossible to manufacture new gold (despite what alchemists have promised!). The limited, finite nature of gold is what gives gold value.
Gold recycling is also one of the most environmentally sound processes — reusing a natural resource again and again.
The way gold buyers determine how much gold is worth is rooted in the London Bullion Market Association, which today runs an electronic auction system called the LBMA Gold Price — recognized globally as the accepted market price for gold.
Gold prices are based on:
- Gold futures prices serve as the basis for the LBMA Gold Price, which is based on contracts for the physical delivery of a specified amount of gold on a set date in the future, and determined by predicted changes in supply of and demand, the estimated cost of transporting and storing gold.
- Gold spot prices is the value of gold to be delivered immediately after purchase is called the spot price, calculated as the average net value of all currently traded gold futures for the next month.
Despite its ancient roots, and millennia of use, gold remains mysterious. However, there are some basic facts you should understand before selling your gold:
How to tell if gold is real
Check for a stamp. A real gold item will have a purity marking on the back or inside. This stamp is typically either a carat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside. Here is the meaning of those numbers:
999 = 24 karat, 99.9% gold
990 = 22 karat, 99% gold
916 = 22 karat, 91.6% gold
750 = 18 karat, 75% gold
585 = 14 karat, 58.5% gold
375 = 9 carat, 37.5% gold
How to tell if gold is real with a lighter. Hold your gold jewelry or coin to the steady flame of a lighter or oven (but not a very high heat, like a blow torch). Real gold will get bright hot after a while, but will not darken. Fake gold will darken or otherwise change color when exposed to fire. Also, if the piece is gold-plated (covered with gold, but made of other metals inside), the thin gold plating will melt, revealing the inner metal.
Test your gold with a magnet. Gold is not magnetic. Using an extra-strong magnet (you can get one from the hardware store), see if your gold jewelry is attracted to the magnet. One side note, sometimes a real-gold bracelet or necklace will have a clasp that is not made of real gold, and will be drawn to the magnet, while the rest of the item will not.
Float test. Real gold will not float, and will not rust. Drop your gold into a glass of water. If it floats, it's fake.
Skin test. Real gold jewelry will not turn your skin black or green.
How much is gold bullion worth?
Gold bullion — whether in bars or coins — is the price of 24K gold.
How much is a gold bullion coin worth?
Gold bullion coin is the same as gold bullion — simply in the shape of a coin instead of a bar. Again, current 24K prices apply.
Recent gold prices, as of Jan. 15, 2020: Price per 1 ounce of gold:
Gold was at a near-record price of $1,543.55, or $49.63 per gram.
How much is gold worth per ounce?
As of Jan. 15, 2020, the price of 1-ounce 24k gold bullion was worth $1,543.55.
A 1-ounce gold bar is about the size of military dog tag, and 24mm (0.95 inches) x 42mm (1.65 inches x 2mm (0.08 inches).
Check the latest price of gold with CashforGoldUSA's gold calculator.
|10K Troy ounce of gold is worth $644.31|
|14K Troy ounce of gold is worth $903.88|
|18K Troy ounce of gold is worth $1,158.82|
|24k Troy ounce of gold is worth $1,543.55|
How much is a gram of gold worth?
As of Jan. 15, 2020, a gram of pure, 24K gold was worth $49.63.
To visualize, a 1-gram gold bar is 8mm (0.32 inches)x 15mm (0.59 inches) x 0.4mm (0.02 inches) — or smaller than a thumbtack.
|10k gram of gold was worth $20.72|
|14k gram of gold was worth $29.06|
|18k gram of gold was worth $37.26|
|24K gold was worth $49.63|
How many grams are in an ounce of gold?
Gold is priced in the Troy ounce, which is 31.1034768 grams — larger than the avoirdupois ounce, which has a mass of 28.35 grams).
How much is a gold dollar coin worth?
The market price of a gold dollar considers several factors, including purity of gold, rarity, weight and condition. Your gold dollar coin's price may vary from $200 to tens of thousands of dollars for rare, mint condition gold dollar coins.
CashForGold can help you estimate a fair price for your gold coin. The company buys all kinds of gold coins, whether gold bullion coins or collectibles like American Eagles, Canadian Maple Leafs, Austrian Ducats.
How to sell your gold
Before you sell your gold, understand what you have, and what the market is. Whether you are selling a fine piece of expensive jewelry with diamonds and other gemstones, or scrap gold, there is a buyer for you.
Here are tips for getting the most from selling your gold, gold teeth, and gold jewelry:
- First, estimate what your gold jewelry, bullion, coins, coin bullion, gold watch, dental work or other item is worth with this scrap gold calculator. To give you an estimate, a gold dental crown will fetch prices between $40 and $100, depending on the gold market, and quality of gold. Selling a simple gold wedding band may bring $100 to $200.
- Then, check out places that sell gold near you. Local gold buyers might include a pawn shop, jewelry store that buys gold and diamonds, a gold and silver exchange, or coin store. Check Yelp reviews and local Better Business Bureau ratings.
- Consider selling your gold to an online gold buyer. The benefits of working with an online gold buyer is that these companies compete nationally and internationally for their reputations and customer satisfaction. Also, because quality online gold buyers will send you an insured mailer within a day or two, working with them is much easier than driving around to local retailers near you. I advocate for CashforGoldUSA, a reputable online gold, silver and diamond buyer with an A- Better Business Bureau rating, and which a Fox Business investigation found to pay 3X the competitors.
Where to sell gold
Whether you live in NYC, Miami, Los Angeles or a small town or city in between, there are countless places to sell your gold — some more reputable than others. These include:
- Pawn shops
- Cash for Gold or Gold Exchanges near you
- Local jewelers
- or one of the many online gold and jewelry buying sites
While there are certainly reputable local jewelers who can give you an honest price for your gold jewelry, coins, bullion or other items, selling your gold online with a reputable business is advantageous because:
- It is much more convenient than driving around to area businesses near you.
- Since online businesses serve customers nationally, there are more reviews and nationwide certifications and verification services like the Better Business Bureau to lend credibility and trust.
- CashforGoldUSA has an online calculator to help you understand their offer before you even send in your item.
A gold buyer will make an offer based on the weight and purity (measured in karats) of the metal you send. This includes coins as well as jewelry: You’ll be paid for the metal value rather than a coin’s face value.
Online gold buyer: CashforGoldUSA
One of the oldest and most reliable online gold buyer companies out there. According to a Fox News investigation, Cash For Gold USA paid three times more than other top online gold buyers. The company will buy any gold jewelry, including bracelets, chains, pendants, rings, necklaces, anklets, charms and earrings. It also buys any gold coin from any country. Enter your name and address at the website, specifying whether you want FedEx or the U.S. Postal Service, and the company sends you a mailer.
Cash for Gold USA will appraise your items within 24 hours of receipt (you can track the shipment online) and you’ll be paid by check, PayPal or bank wire. The gold buyer also offers a “Gold Price Maximizer” promise: If within 30 days after your check is written the price of gold goes up, Cash for Gold USA will send you the difference. Cash For Gold USA’s parent company, CJ Environmental, has an A- rating from the Better Business Bureau.
Online gold buyer: Express Gold Cash
This gold buyer, which has been in business for 21 years, accepts necklaces, bracelets, rings, earrings and gold coins. Request a kit and you’ll be sent a prepaid FedEx envelope and packing instructions. The kit is insured for up to $5,000 and can be tracked every step of the way.
Express Gold Cash will send you an offer via email, and paid within 24 hours of accepting it. Express Gold Cash has an A+ rating from the Better Business Bureau, and a five-star rating on Trustpilot.
Online gold buyer: Liberty Gold and Silver
Based in downtown Portland, Ore., since 2012, Liberty Gold and Silver buys any kind of gold jewelry or gold coins. Request a UPS mailer and drop it off at any UPS authorized shipping center. It’s insured for up to $1,000; if your items are worth more, you need to ship through the U.S. Postal Service and insure the items yourself; however, Liberty Gold and Silver will reimburse you.
Once you accept the offer, the gold buyer will mail you a check within 24 hours; for a small fee, you can have the money sent to your bank account. Liberty Gold and Silver has an A+ rating from the BBB.
Online gold buyer: Luriya
Located in Manhattan’s “Diamond District,” Luriya has been buying gold jewelry (including antique and estate jewelry) and gold coins for the past 27 years. If you live in or plan to visit New York, you can schedule a personal appointment. But the gold buyer will also send you a prepaid mailer for the delivery method of your choice (including FedEx, UPS, DHL and the U.S. Postal Service).
Insurance for up to $1,000 is automatic, but Luriya can arrange for insurance of up to $1 million. Within 48 hours of receipt Luriya will make an offer. Luryia has an A+ rating from the Better Business Bureau.
Online gold buyer: Money Metals Exchange
This gold buyer doesn’t buy any jewelry but will accept gold coins. Unlike the others in this list, it doesn’t offer prepaid mailers; you have to insure and ship the gold coins yourself via the U.S. Postal Service. (The website offers packaging tips.)
Money Metals Exchange is an accredited business with the Better Business Bureau and has an A+ rating.
Online gold buyer: SellYourGold.com
This Boca Raton, Fla.-based company, in business since 2014, buys just about any kind of gold jewelry, including anklets, cuff links, pendants, rings, necklaces, and charms. It also buys vintage, antique and estate jewelry, and designer jewelry from designers such as Tiffany & Co., Van Cleef & Arpels, Bvlgari, and Cartier.
SellYourGold.com will send you a FedEx mailer with $1,000 insurance (you can arrange for insurance of up to $25,000). The gold buyer promises an offer the same day the items are received, and payment within 24 hours of acceptance; you can choose direct deposit, PayPal or check.
SellYourGold.com has a 4½-star rating on Trustpilot. Its parent company, Beyond79 LLC, is an accredited business with the Better Business Bureau and has an A+ rating.
Where is the best place to sell your gold online?
There are countless online places to sell your gold, silver and diamond jewelry. I have researched and vetted dozens of top places, and strongly recommended you work with one of these two companies (each one is best suited for different types of jewelry sales): Worthy.com and CashforGoldUSA.com.
How and where to sell gold bullion?
A bar of gold bullion can be sold locally to a mint or local buyer.
If you have gold coin bullion, CashforGoldUSA.com is an excellent choice. Their online calculator on their homepage accurately helps you estimate how much you will get for your coin, and easy steps for sending in your item, securely, for quick payment of cash.
How to sell gold coins
Whether your coin is pure bullion, or a rare collectible, there is likely good, fast cash in your possession — especially since gold prices have hovered at record highs in recent years. A good place to start is by contacting a gold coin dealer near you, to get a quick quote. Yelp reviews can be useful.
You can also browse eBay to see if you can find a comparable coin, to better understand the price you can expect.
Where to sell gold coins vs. gold bullion
Gold bullion, by definition, is pure gold for the purpose of investment. Bullion can be in bars or coins, or occasionally other forms like an ingot. Gold coin buillion can be sold the same as other scrap gold, including on reputable online sites like CashforGoldUSA.
A bar is better sold to a mint or local dealer.
When you should sell your gold jewelry, coins, scrap to CashforGoldUSA
In my jewelry box were a couple of modest gold and diamond rings that a relative had given me when I married. Time to go!
The rings, I knew, were too small and low-quality to sell for any value at a jeweler, or a site like Worthy.
Those sites always seemed super-cheesy. But I researched this one.
CashforGoldUSA is the leading online site that is a place that buys gold and diamonds (as well as silver).
The parent company, CJ Environmental, has a BBB rating of A-, and Fox New's undercover investigation found that CashforGoldUSA paid out three-times (3X!) the other, competing online gold buyers.
To unload a modest gold ring with small diamonds, I tried CashforDiamondsUSA.
- I plugged in my name and address on their website. Chose whether you prefer a USPS Mailer, or FedEx Label.
- A few days later I received a SAFEPAK mailer, which stated my rings were insured up to $1,000.
- I stuck the jewelry in it, and dropped it in the mailbox
- Two weeks later got a check (they also give you a tracking number to track it online).
I was pleasantly surprised by how easy and professional the process was.
The 12-carat gold ring with a couple of small diamonds fetched a $159 check.
Is Cash for Gold USA legit?
In short: Yes, totally legit. CashforGoldUSA and CashforDiamonds were very straight-forward to work with, have a great reputation with the BBB and other online review sites, and in general are a reputable, reliable company with a very strong customer service policy.
What materials does CashforGoldUSA accept?
CashforGold and its sister sites accept jewelry and other materials made of gold, silver or platinum. That includes ALL CARATS of clasps, coins, gold or silver dental scrap, earrings, anklets, bracelets, brooches, chains, charms, gold solder, ingots, links, necklaces, nuggets, pendants, pins, rings, shot, watches & bands, gold and platinum wire Karats.
CashforGoldUSA accepts 8k, 9k, 10k, 14k, 15k, 18k, 22k, 24k gold.
The company welcomes broken jewelry and other items.
Can I get my jewelry or other gold back if the check is too low?
Does CashforGoldUSA buy dental scrap?
Yes. CJ Environmental has a website, CashforDentalScrap.com, where you can sell dental scrap. CashforGoldUSA will buy gold or silver crowns, bridges, PFM’s, PFG’s, inlays, and caps — with or without the bone or porcelain. All of the material is approved for shipping by OSHA, DHS and the EPA.
How much does Cash for Gold USA pay?
Check out the CashforGoldUSA's online calculator for an estimate of how much your metal scraps or jewelry are worth. If you are not satisfied with the sum they quote you, you can have your jewelry returned, free of charge.
There are some complaints filed online for CJ Environmental and its sites, CashforGoldUSA and CashforDiamonds. RipoffReport.com sited two complaints dating to 2009 — both of which the site addressed and closed. There are a number of complaints filed on the company's Better Business Bureau listing, but they are each addressed professionally. Apparently, there are still four outstanding complaints that the company has not resolved.
Note, CashforGoldUSA has nothing to do with the scandal- and lawsuit-embroiled Cash4Gold.
Why you shouldn’t sell your gold to CashforGoldUSA
If you expect your gold jewelry to sell for $1,500 or more, consider the online jewelry auction site, Worthy.com — a company that will insure your jewelry for up to $100,000, lets you set the minimum price, will pay you within a few business days via PayPal, AHC, or a mailed check.
Worthy is a great option if the diamond or other gemstones in your jewelry are significant enough to sell for at least $1,500, if your gold jewelry is name-brand (Tiffany, Cartier, Bulgari) and likely to sell for at least that sum, Worthy is a better option.
Worthy has an A+ Better Business Bureau rating, has been featured in the New York Times, Forbes and Crain's New York. You can read about my Worthy selling experience here.
Worthy is one of the top sites for selling your jewelry, which includes estate, heirloom
FAQ about gold jewelry
What is “gold filled?”
Gold-filled jewelry is constructed in two or three layers: The core metal is’ brass, and a gold alloy is then bonded to one or both surfaces of the brass core with heat and pressure. Unlike plated (also referred to as “electroplated” or “dipped”), gold-filled items are legally required to contain 5% gold by weight.
What is gold vermeil?
Gold Vermeil is sterling silver that has been gold-plated, typically with 22K to 24K gold.
What is “gold plated?”
Gold plating involves affixing a thin layer of gold onto the surface of another metal copper or silver, by a chemical or electrochemical plating process.
What is white gold?
White gold has a silver, or white metal look, and is an alloy of gold with nickel, platinum, or another metal.
What is gold used for?
Aside from jewelry, and as an investment, gold's durability and heat-conducting properties make it valuable for many other uses. These include:
Industry and technology, including wiring and data storage, as well as a reflector on glass.
Space technology, as NASA uses gold on astronauts' visors, as well as in the wiring of space equipment.
Medicine, as gold's healing and diagnostic properties are applied to treat cancers and rheumatoid arthritis.
Fun fact: Did you know that gold prices historically soar during a recession? Learn more about why it makes sense to sell gold during a down economy, and other financial tips for surviving and thriving in a recession.
Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist and author. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, MONEY, 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. A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Emma's Top Single Mom Resources.