The internet — and, likely, your town — is flooded with businesses promising to give the highest payout for your gold. The Alloy Market is a newcomer to the space, a startup with investment money that is getting buzz in media outlets including USA Today, CBS News, MSN and others.
Is this metals and jewelry buyback site that special? Even though it has been on the market for less than a year (this is published in February, 2024)?
We researched based on customer reviews, scores from third-party agencies including the Better Business Bureau and Trustpilot and overall impression.
In sort: The Alloy Market is a legit place to sell your gold and silver, as well as diamonds of at least 1 carat (though they don't advertise that fact). While still young, Alloy is likely to be a force in the gold-buying market, though the process of selling to them is similar to other quality online gold buyers.
Is The Alloy Market legit?
Why we believe Alloy is legit:
- BBB accredited with an A- score (0 complaints)
- 4.8/5 stars on Trustpilot, based on 70+ reviews, some of which are marked ‘invited'
- up to $100,000 insurance on every shipment
- Free shipment and returns, no obligation
Most of these features are standard among leading online gold buyers, including CashforGoldUSA, Abe Mor and Sellyourgold.com.
Alloy enjoys several high-profile media mentions and has invested in a modern online presence, setting them apart from the competition.
Alloy has earned headlines for its early promise to launch an app that would allow the user to value their gold and manage the sale process, but that has been put on hold indefinitely, CEO Brandon Aversano told me.
What does The Alloy Market buy?
The Alloy Market's brand and focus is on buying all kinds of gold — jewelry, coins, bars and bullion and watch bands.
Their site says they also buy silver, platinum and palladium, and in communication with its founders, we learned Alloy also buys diamond and gemstone jewelry. Keep in mind that all but the finest and largest of gemstones are likely not of any value in such a sale, no matter where you take them, and Alloy told us they only buy diamonds of at least 1 carat in weight.
Learn more about how to sell your gold
What you need to know about selling sterling silver flatware
How does The Alloy Market work?
Alloy is like most online gold buyers (vs marketplaces like Worthy or myGemma which list you item that buyers bid on):
- Go to TheAlloyMarket.com
- Enter your name and address to request a USPS mailer sent to you. You will receive an email and text to which you can reply with any questions. A human seemed to have responded to our queries. We received our mailer the next day.
- Follow the instructions to package your item and return it to the Newtown, Penn., headquarters. Alloy promises you will receive an offer within three days.
- Once you accept the offer, Alloy promises immediate payment via Venmo, Paypal, ACH/direct deposit or check by mail — your choice. The whole process, assuming you send in your item right away, should be completed within a week.
How does Alloy compare with other online gold buyers?
Here are some of the leading places you can sell your gold online:
| BBB | What they buy | Forms of payment | Minimum time from request to payment | |
| The Alloy Market | A- | All weight and karat of gold and silver and diamonds of at least 1 carat — though their site and marketing are heavily focused on gold | Venmo, Paypal, ACH/direct deposit or check by mail | 5-7 days |
| CashforGoldUSA | A+ | All weight and karat of gold, silver and diamonds | Direct deposit, PayPal, Virtual Visa credit card, print-at-home check, Check mailed via overnight FedEx, Check sent via USPS First Class mail | 5-7 days |
| Abe Mor | A+ | Gold worth at least $500 and diamonds of .5 carats or more | FedEx 3rd day delivery) or via wire transfer. | ~1 week |
Pros of The Alloy Market
Alloy is a solid choice for selling your precious metals, and diamond jewelry. Features including free shipping, insurance and guaranteed highest payout are consistent with industry leaders, though their promise to accept all weights metals makes them extra-competitive.
Alloy's strong online reviews and investment in a stylish, useful website and marketing indicate they will be competitive in the online gold buying space for the foreseeable future.
Currently running a promotion of a $10 Amazon card when you send in your item to sell.
Cons of The Alloy Market
Really focused on metals vs diamonds. New company so not a lot of online reviews yet.
Takeaway re: The Alloy Market
Alloy is a solid online gold buyer. If you regularly sell gold or this is your first gold sale, Alloy is solid choice.
