How to Sell Gold: Get Fair Price
Selling gold doesn't have to be complicated. Learn dealer selection, timing strategies, and how to verify weight and purity for fair value.
Know Your Gold's Value First
Check Spot Price
Gold value = weight (troy oz) × current spot price + dealer spread.
Example: 10 oz bar at $2,000 spot = $20,000 base. Dealer buys at 2–3% below spot = $19,400–$19,600.
Use MetalBrief to check live spot before selling. Timing matters—sell during rallies if possible.
Check Spot Price Now →Prepare Your Gold
Documentation
- Original receipt from purchase (helps establish purity)
- Weight and purity stamps visible
- Photos of items (for reference)
- Certificates of authenticity (if you have them)
Condition
Gold bullion doesn't need polish. Dealers buy by weight and purity, not cosmetics. Avoid aggressive cleaning (can damage surface).
Choose Your Selling Method
Option 1: Sell to Bullion Dealer
Best for: Bars and coins, easy, quick.
Spread: You get 97–99% of spot (1–3% below).
Speed: Offer same day, funds in 1–3 business days.
Compare dealer buyback rates. APMEX, JM Bullion, SD Bullion all buy.
Option 2: Sell to Local Coin Shop
Best for: Coins, faster settlement (cash same day).
Spread: Often 2–5% below spot (lower tech overhead).
Tip: Call ahead. Verify scale accuracy with their device vs yours.
Option 3: Sell on eBay / Facebook
Best for: Coins (collectible value), patience, higher prices possible.
Spread: You set price, but pay 2–3% eBay fees + shipping insurance.
Risk: Scams, payment disputes, slow process.
Verify Weight & Purity
At the Dealer
- Watch the scale: Dealer should show you weight. Note it down.
- Verify purity mark: Check stamps (99.9, Au, fineness mark).
- Acid test optional: Most dealers don't do this for bullion (it damages bar). Accept for coins if needed.
- Get written quote: Before selling, ask for offer in writing (weight × spot × their spread).
Maximize Sale Price
- Call multiple dealers: Spreads vary. 1% difference on $10K = $100.
- Time market: Sell during rallies if you can wait. Don't rush.
- Sell bars, not coins (usually): Bars have tighter spreads than numismatic coins.
- Avoid paying for testing: Some dealers charge $50+ for assay. Ask if included in their offer.
- Ask about loyalty discounts: If you've sold before, some dealers offer better spreads.
Tax Consideration
Capital Gains
When you sell at profit, you owe long-term capital gains (15–20% federal for most earners).
Example: Bought 10 oz at $18,000. Selling at $20,000 = $2,000 gain. Federal tax = $300–$400.
Keep purchase receipts for taxes. Report proceeds if $20K+ in one year.
Selling Checklist
- ☐ Check live spot price (MetalBrief)
- ☐ Gather purchase receipts
- ☐ Verify weight and purity marks
- ☐ Call 3+ dealers for quotes
- ☐ Review written offer
- ☐ Confirm payment method
- ☐ Ship insured (if dealer)
- ☐ Verify funds received
- ☐ Track for taxes
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Affiliate disclosure: MetalBrief earns referral commissions when you sell gold through linked dealers at no cost to you. We recommend based on reputation, not commission size.