Best places to sell your gold for cash in 2024 (2024)

Gold prices hit an all-time high of $2,150 for the first time in December 2023 and have remained comfortably above $2,000 per ounce in 2024, despite anticipated Fed rate cuts.

If you're tracking the price of gold to time your sale, note that gold prices rose 11% last year, and a Forbes analyst predicts a modest gain in gold prices this year^1,2:

As of Jan 12, 2024, the spot gold value in the United States was trading at $2037.81 per ounce,or$65.52pergram.

Simply put: Now is a good time to sell gold.

Whether you have gold jewelry, scrap coins or bullion, you have several safe, quality options for selling your gold. This post outlines the best ways to sell your gold:

1. Best online gold buyers
2. Pawn shops
3. Local gold buyers
4. Local jewelry stores

We also researched this guide: FAQs about how gold prices work and tips for selling gold.

Best places to sell your gold online

While there are many reputable local businesses that can give you an honest gold resale price or trade in value for your gold jewelry, gold coins, gold nuggets, watch, gold bullion or dental gold, selling gold online is increasingly common, as more and more quality gold buyers have made it easy to safely get paid without leaving home.

Other reasons many people opt for selling gold to an online buyer:

• More convenient and private than driving around to area businesses near you.
• An established online gold buyer will have a robust online presence you can research: reviews and ratings from Trustpilot, BBB, Yelp, Facebook, and more. Many more data points to use to vet your buyer than a typical local business.
• Online gold buyers can often offer high prices thanks to their lower overhead (no expensive retail rent), and the competitive nature of the internet.

CashforGoldUSA:

CashforGoldUSA is a family business established in 2005 outside of Boston that buys the widest breadth of gold, silver and diamonds in the industry, pays within 24 hours and insures your item up to $100,000. Focus on customer service and speed to payment.

BBB Rating: A+, accredited since 2020

What they buy: CashforGoldUSA is the only online gold buyer that we know of that accepts all weight and quantities of gold (as well as silver and diamonds), including broken jewelry, dental scrap, as well as coins and bullion.

Speed to payment: CashforGoldUSA pays within 24 hours of receiving your item, with the total transaction taking 3 days or less.

Unique features: Price-match guarantee, very fast payment by your choice: Paypal, print-at-home check, direct deposit, personal check by Fedex or First Class USPS or Virtual Visa credit card. Does not require ID verification.

Read our CashforGoldUSA review.

Other quality companies that buy scrap gold online:

• Luriya
• SellYourGold.com
• US Gold Buyers

Sell your gold now with CashforGoldUSA >>

Abe Mor

Abe Mor is a family business established in 1969 in New York City’s Diamond District, and focuses primarily on buying and selling diamonds wholesale through retailer jewelers, though they are also a reputable place to sell gold.

BBB Rating: A+, accredited since 2016

What they buy: Abe Mor will buy your gold jewelry or scrap gold if the value (to you) is more than $1,000, as well as diamonds of at least 0.5 carats. For example, a recent query to sell 40 grams of 14k gold would be a spot price is $1486.85 based on that day’s pricing, and their offer would be $1,100.

Speed to payment: The whole process from getting a quote to getting paid will take about a week.

Unique features: Abe Mor primarily buys diamonds and diamond jewelry with the center stone of at least 0.5 carats.

Read our Abe Mor review.

Similar companies that also buy and sell diamonds:

• myGemma
• Worthy (an auction platform)

Alloy

Alloy is a new player in the online gold buying space, with a slick, modern design that stands out from its competitors. Otherwise, their proposition is the same: Secure, free shipment, free returns, highest guarnateed offer.

BBB Rating: A-

Speed to payment: Minimum 3 days based on their web copy, but could be longer.

Unique features: Also buys platinum, silver and palladium. Claims they about 100% of offers are accepted. Has an app (though do you really want another app on your phone?!) that will provide an instant estimate for your item.

Learn more about Alloy.

JM Bullion

JM Bullion is arguably the leading buyer and seller of consumer metals bullion — coins, bullion and metals IRAs in gold, silver, platinum, copper and very unique coins, such as a 2023 JFK Half Dollar Black Ruthenium Set ($19.99) and 2022 Colorized American Women Quarter 5-Coin Set ($20.95) on sale at the time of this writing.

Based in Dallas, JM Bullion insures your item up to $25,000.

BBB Rating: A+, accredited since 2014

What they buy: Most U.S. gold and silver coins and bullion. Minimum sale value of $1,000.

Speed to payment: About a week, or two weeks if you choose a paper check. There are no fees associated with paying via ACH while ank wires incur a $25 fee, and paper checks incur a $30 fee.

Unique features: Very transparent online list of what they pay for each coin and bullion, though you can also email and interact with customer service. Promotes that you can make the entire transaction without speaking to a human — which may be a pro or a con for you. Free shipping only on orders of $199 or more. Locks in the sell price once they send your mailer, guaranteeing a minimum.

Check out if: You have gold (or other metals) coins or bullion to sell, or are interested in investing in physical metals.

Other trustworthy companies that deal in buying ands selling metals bullion include

• APMEX
• Money Metals Exchange

Best place to sell gold online: CashforGoldUSA

Among multiple good options, one reliable, safe, fast and quality place we confidently can recommend selling any type of gold is online buyer CashforGoldUSA — one of the oldest and best online gold dealers and buyers for selling gold jewelry, coins, bullion and scrap gold.

We vetted gold sellers based on pricing, speed, reputation, safety and value. Here are the questions we ask and what we learned when we tested CashforGoldUSA:

Pricing and payment: Who pays the most for gold?

The only way to guarantee that you will get the absolute highest price for your gold at any moment is to shop it around, locally and online. The offers can vary widely, and change day-to-day as gold prices fluctuate.

Pro tip: No matter where you sell your gold, always negotiate. Online buyers that invest in sending you a mailer are especially incentivized to offer you a higher payout, vs having to pay to return your item to you.

Speed to cash: What's the fastest way to liquidate your gold?

The fastest way to get cash for your gold is to walk into a pawnshop or local gold dealer and take what they offer—which may or may not be a fair price — but will get you cash within about 15 minutes. This can be a great option for a lot of people, especially if you trust your pawnshop and like to support local businesses.

However, you can get money for your gold within a few days without leaving the house by selling online:

• CashforGoldUSA will send your payment within 24 hours of accepted offer
• Total time from requesting a mailer online to receiving your money is as little as 3 days
• Price-match guarantee means you could get a local quote in writing and send it to CashforGoldUSA.

Safety: What's the safest way to get cash for gold?

Unlike years past, today there are reputable online buyers who ensure that your item is safe and trackable throughout the selling process — and CashforGoldUSA has doubled-down on making sure that your item is not stolen, lost or misplaced:

• 100% free door-to-door free, trackable FedEx or USPS shipping
• Free Jewelers’ Mutual insurance up to $100,000 on each shipment
• CashforGoldUSA's Boston facility insured by Lloyds of London
• Will pay for your item to be returned to you, fully insured, for any reason

Plus, this company has a robust online review presence, and clearly sees the value in maintaining their BBB, Trustpilot and blogger reviews, which makes us believe they also care about customer service.

Value add: What really matters to people selling gold?

We understand the pain points many people face when selling their gold: You may have a small item that many buyers are not interested in, you live somewhere that FedEx does not serve, or far from a USPS office, or you don't have access to Paypal.

CashforGoldUSA has done a good job of addressing the unique needs of the greatest number of people who have gold to sell. Big bonus is that they also buy diamonds, flatware and other silver, lab-grown diamonds, watches and all types of gold — including gold teeth,

• No minimum value (other online gold buyers only accept shipments of $1,000+)
• Pays by your choice: Paypal, print-at-home check, direct deposit, personal check by Fedex or First Class USPS or Virtual Visa credit card.
• Also buys all diamonds, lab-grown diamonds, silver flatware, and scrap gold and silver — no matter the weight

Get a quote from CashforGoldUSA now.

Customers’ feedback about CashforGoldUSA:

Reviews from the Better Business Bureau and Trustpilot sites are overwhelmingly positive, apart from a few people who thought they should have been offered more for their gold or didn't understand the evaluation process:

More in our CashforGoldUSA review.

Sell your gold to pawn shops

Many people prefer to sell their gold or jewelry locally to a business they know and trust —and get their cash immediately without messing around with the mail or FedEx.

A reputable pawn shop can be the closest place to sell gold if you need cash quick and prefer to do business locally with people you know. Ask around for a recommendation, check online reviews and get a few quotes. Don't be afraid to negotiate or walk away if you don't feel their offer is fair.

Of course, pawnbrokers also give you the option of getting back your gold within the terms of the loan.

Search for a pawn broker that buys gold in your community:

If you have gold jewelry worth at least $800 that you really don't want to sell, but need the cash, you might consider a jewelry loan. Learn more: Where and how to get a loan on jewelry in 2024

Sell to local gold buyers

Many communities have roadside businesses advertising “Cash for Gold,” “Gold and Silver Exchange,” and “Metals Exchange.” These businesses typically lose out to pawn shops in terms of price since pawn shops can be larger, more established businesses with deeper community reputations to maintain.

It never hurts to get a quote from one of these buyers, which might validate another offer, or you can use in your negotiations:

Sell gold to local jewelry stores

The first place many people go to sell their gold is a jewelry store. You may have a relationship with such a local jeweler or trust one in your town. Some jewelers offer store credit in exchange for your item, and you may prefer to do business locally, with someone you know.

Gold price and selling FAQs

When you decide you are ready to sell your gold items, it helps to understand the terminology and what influences the value of gold.

How much does gold sell for?

Ultimately, gold sells for what someone will pay for it, typically what the spot gold price says gold is trading at, minus a commission. Depending on whether you sell or pawn, online or offline, try to negotiate your gold sale.

As of Jan 12, 2024, the spot gold value in the United States was trading at $2037.81 per ounce,or$65.52pergram.

How much do you get for selling gold?

Expect to receive 90% to 95% of the current market value or spot price if you’re selling gold coins or bars.

For jewelry, expect to receive about 50% to 90% of the melt value. At the current scrap gold rates, a typical gold wedding band or gold class ring is worth between $100 and $300, depending on the weight and karat.

Where you sell your gold, what type of gold (coins, jewelry, bullion, scrap) and whether you sell online or at a location near you also affect how much money you can get for your gold.

What does the melt value of gold jewelry mean?

The melt value of gold is one way that gold traders assign value to your jewelry. If you melted down the gold pieces and sold them as raw materials, the melt value is that gold is worth right now. Melt value isn't the only way that gold jewelry can be valued; it can also be valued by weight, quality and spot price, which we answer in the next FAQ.

What is the gold spot price?

The spot price is the price that gold is tradingtoday and will sell for — on the spot. The gold spot price is used by gold buyers to set the price they will offer you for your gold today.

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.

As of Jan 12, 2024, the spot gold value in the United States was trading at $2037.81 per ounce,or$65.52pergram.

Why do gold prices fluctuate? What causes the price of gold to go up?

Gold is like any other asset: stocks, real estate, even human labor. When there is more demand, prices go up. When there is less demand for gold, prices go down.

Typically, gold has been considered a safe investment, so when there is a lot of volatility in the economy or stock market, investors tend to favor gold.

Historically gold prices increase when:

• The stock market is down
• Times of economic and political instability
• Other safe-haven investments like bonds and investments in the U.S. dollar are down
• The higher the gold price, the more people tend to want to buy — which drives gold prices up further

Gold prices have steadily risen in recent months and hit a record high of $2,150 in December 2023.

This Wall Street Journal video does a good job explaining why gold prices are historically strong when the stock market stumbles and inflation is high:

This Bloomberg podcast from August also nicely breaks down the external pressures that affect gold, including why prices rarely stay above $2,000 for long:

You can get an idea of the price of your gold with CashforGoldUSA's gold calculator, which factors in the current price of gold before the gold buyer's commission:

Your offer will depend on your appraisal, the spot price of gold (more below), and what the buyer feels like offering.

In any market, cash in hand today is worth much more than waiting a few weeks or months to see if the price increases a little. Overall, gold prices have beens strong over the past few years so you will get a decent return if you sell soon.

What are gold futures?

Meanwhile, 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 and demand, the estimated cost of transporting and storing gold.

Is now a good time to sell gold? When is the best time to sell gold?

Gold prices have high over the past two years, hitting an all-time high in December 2023. Prices have remained steady and analysts predict that while precious metals prices may be volatile this year, they will remain strong. That means now is a good time to sell gold.

However, in any market, the best time to sell gold may be purely personal: when you need cash the most. Again, it is better to have cash that you very much need to pay essential bills like rent, a car note, or utilities — instead of gold coins, gold jewelry, bullion or scrap sitting in a drawer, or safety deposit box.

It can also make sense to sell gold for other investments, including stock funds in a retirement account, in real estate, or even education or a new business.

Also, it may make sense to sell your gold, and buy stocks or an index fund to take advantage of the down stock market.

Learn more at CashforGoldUSA >>

How can I sell my gold jewelry without getting ripped off?

If you want to sell your gold ring, earrings, necklace or other gold jewelry (or jewellery, if you're British) for cash, you’ll need to do the following:

1. Check the karat symbols and markings to determine its purity
2. Check the current price of gold
3. Get offers from quality buyers, compare and negotiate

• Look to Better Business Bureau, Reddit and Trustpilot for online gold buyer reviews, and Yelp and Google reviews for selling gold locally
• Search the company name and look for negative press
• Ask around to friends and neighbors you trust

Always shop around and negotiate — these businesses expect it! Once they name their officer, say: “Can you do any better?” or quote a price another buyer offered.

What are the markings on my gold jewelry?

These are the karat markings on gold jewelry, and the purity of gold they represent:

• A piece of gold jewelry or gold coin with an etching or stamp or hallmark that reads “18K” or “750” indicates that it is made up of 75% gold
• A “14K” or “585” mark means the metal is made up of 58.5% gold. This stamp is typically either a karat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside
• A piece of gold jewelry or gold coin with an etching or stamp or hallmark that reads “18K” or “750” indicates that it is made up of 75% gold, while a “14K” or “585” mark means the metal is made up of 58.5% gold

Here's a guide to deciphering the symbols stamped on jewelry.

Jewelry stamped with a 585 is made of 14-karat gold, which is of 58.3% pure gold.

As of Jan 12, 2024, the amount of gold per karat in yellow gold, assuming a price of $2031.85 per troy ounce:

Gold bars and gold bullion are nearly always 24K gold. Learn ore about selling your gold bars and bullion.

Determine the weight and karat of your gold by looking for markings and using a scale —like this one from Amazon that sells for about $16. You can also stop into a pawn shop, or jeweler near you and ask them to weigh your gold (they should for free).

Learn how to tell the difference between these common jewelry metals in these posts:

Sterling silver vs white gold

Sterling silver vs silver

Platinum vs white gold

White gold vs yellow gold

If your gold jewelry comes from a high-end jeweler like Tiffany, Cartier, or David Yurman or is otherwise unique, it could be worth more than its scrap metal value. A jeweler can provide you with a jewelry appraisal, which can help you determine the value of the items you have and where to sell them.

Is my gold real?

Gold is usually an alloy, meaning a mix of gold with other metals.

• Pure gold is 24 karat, and will be marked 24K — with “K” the abbreviation for karats
• Purity marks on gold tell you the percentage of pure gold vs the amount of other metals mixed in the alloy
• Real gold will not float, and will not rust. Drop your gold into a glass of water. If it floats, it's fake.
• Check to make sure your item is not simply gold plated by testing your gold with a magnet — pure gold is not magnetic

Can you make money selling gold?

Gold has been one of the best investments over the long-term. Since gold is now low, you may want to hold, or you may choose to sell your gold before prices go lower.

Many people are selling their gold and parking their cash in savings accounts and CDs, as 5% APRs are common now.

What's worth more, gold or diamonds?

Jewelry with diamonds and other precious gemstones can also bring more — but only if those stones are large and of high quality. Often the gold is the most valuable part of a piece of jewelry.

Overall, gold is a much better investment than diamonds. Gold has an intrinsic market value, and continues to hold its value as it has for thousands of years. Diamonds have always had a retail markup of at least 100% — so even in the best of times, you were guaranteed to lose money on a diamond purchase.

Meanwhile, the pressures of lab-grown diamonds, fashion and social trends that disfavor big diamonds, and economic and geopolitical pressures mean that the value of diamonds has dropped 35% over the past year and is expected to continue.

Read more in how to sell diamonds, and the best diamond buyers — including details about selling a diamond ring.

Is selling gold jewelry worth it?

If you need the money more than you need the gold jewelry, then it is worth it to sell. Even a small piece of scrap gold, dental gold or a broken gold chain can be worth $100 or more.

Is it safe to sell gold online?

Reputable gold buyers guarantee safety through trackable shipping and coverage through reputable insurers.

For example, CashforGoldUSA insures all shipments up to $100,000 through Jewelers’ Mutual insurance, and you can track your package from door-to-door through a FedEx or USPS tracking number — all free.

Bottom line: Where is the best place to sell gold jewelry?

Cash is king. If you aren’t using your gold jewelry or you have gold coins lying around, it may be a good timea to sell, regardless of prices. If you need the money right away, a pawnshop or gold buyer near you with a good local reputation can help.

If you have a few days, we recommend our choice for best gold seller, CashforGoldUSA, which specializes in buying gold and has a 100% highest-price guarantee and pays within 24 hours of an accepted offer.

Sources

1. “Market Predictions For Gold, Silver, Oil, Corn, And Bitcoin In 2024, Jan. 1, 2024, buy Sal Gilbertie, Forbes. https://www.forbes.com/sites/salgilbertie/2024/01/01/market-predictions-for-gold-silver-oil-corn-and-bitcoin-in-2024/?sh=5969d40b3a93
2. “Gold prices remain under pressure as the Fed minutes signal rate cuts in 2024,” Jan 3, 2024. Kitko. https://www.kitco.com/news/article/2024-01-03/gold-prices-remain-under-pressure-fed-minutes-signal-rate-cuts-2024

*10% bonus offer. Customers who send in their item(s) within 7 days of receiving the shipping materials will automatically receive an additional 10 percent bonus on top of the appraisal value of their items, compared to standard pricing. Total payout may not exceed melt value of items. The 10% bonus offer is not valid or able to be combined with any other special offers.