DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Disclosure.
The content is for informational purposes only. Conduct your own research and seek advice of a licensed financial advisor. Terms.
Best Places to Sell Jewelry
Cash for Gold USA
Cash for Gold USA will buy gold of any karat from 8k to 24k, and in any form, even scrap
Quick processing time for quotes – within 24 hours once gold is received
Free FedEx shipping label insured up to $5000 for you to send your gold
Cash for Diamonds
Get a free appraisal kit by filling out the form – send diamonds with free, tracked shipping
Payments are typically processed within 24 hours after you accept offer
If you don’t like the offer – Diamonds will be returned free of charge
How Much Is a Gram of Gold Worth?
As with other assets, gold prices can fluctuate significantly even within a short time. In the year-long period between August 2021 and August 2022, the price of gold per gram fluctuated between $54 to $66. Most recently, gold prices have been hovering between the range of $55 to $58 range.
Some of the factors that can affect the price of gold include:
- Production levels of gold from mines
- The value of the US Dollar – a higher value means that gold will be cheaper and vice versa
- Demand for gold for industrial and jewelry uses
Given that the price of gold can fluctuate a lot, it can be a good idea to check the latest gold prices if you intend to sell your gold. It is worth noting that any websites will list the market price of gold per troy ounce. To find the price of gold per gram, divide the price of gold per troy ounce by approximately 31.1.
Where Can I Get the Most Money for Gold?
The amount you can earn from selling your gold is unlikely to vary too significantly regardless of where you sell your gold or to whom you sell it. Thus, unless you are selling a large amount of gold, you may be better off just choosing the most convenient option to sell your gold.
Here are some of the most popular options for selling gold:
|Where to Sell Gold Near You||Benefits|
|Cash for Gold USA||Get up to three times more for your gold compared to other options|
|Express Gold Cash||Get paid for your gold within the same day|
|Local Places on Yelp||You can check Yelp reviews to find a place with good rates to sell your gold|
|Pawn Shops in Your Neighborhood||You can sell your gold conveniently and in person|
|SellYourGold.com||Enjoy insurance coverage for up to $100,000|
|eBay||You may get a better price through an auction compared to selling to a dealer|
6 Places to Sell Gold Near You and Get the Most Money for It
Cash for Gold USA
Cash for Gold USA is a website that does what its name suggests. You can use the website to sell your gold and earn quick cash. Cash for Gold USA ranks highly on this list because you can get up to three times more when you sell your gold to the website compared to other places.
To sell your gold to the company, visit their website and use the gold price calculator to estimate what your gold is worth. Then, request an envelope to ship your gold to the company’s premises. Cash for Gold USA will pay for your shipping label and insure your package for up to $5000.
Once your gold arrives at the company’s location, their team will appraise your gold and give you an offer for it. If you’re not satisfied with the offer, the company will send your gold back to you for free.
If you accept it, you will receive payment via check, PayPal, or bank transfer, typically within one business day.
Express Gold Cash
Express Gold Cash is a popular online brokerage website that specializes in buying gold from individuals across the United States. The company has been around for over 25 years. It also provides free FedEx overnight shipping, enabling you to get cash for your gold within as little as 24 hours.
Like most other similar websites, Express Gold Cash will appraise your gold once they receive it and give you an offer after appraisal. If you are unhappy with the offer, the company will similarly ship your gold back to you for free.
If you are keen on selling your gold to Express Gold Cash, you can request a free gold appraisal kit from their website.
eBay is a popular online website that you can use to sell all sorts of items, including gold. The website is primarily known for its online auctions, and you can list your gold jewelry or items in an online auction to get the best possible price for them.
eBay gives sellers control over the specific details of their auctions, such as the starting price and auction duration. You can even set a reserve price on your auction, meaning that you will not need to sell your item unless there is a sufficiently high bid.
However, eBay charges a fee of around 13%, so you should consider that when deciding whether to sell your gold on eBay or elsewhere.
When you sell on eBay, you will also be responsible for arranging a pick-up or shipping to your buyer.
Local Places on Yelp
Alternatively, you can also consider browsing Yelp to find local places that will buy gold. For example, you may be able to find jewelers or second-hand stores where you can sell your gold.
One of the benefits of selling your gold to local places on Yelp is that you can read reviews of these places from past customers. By doing so, you can check whether the shop where you want to sell your gold is legitimate and whether they offer favorable gold prices.
You can also find the most convenient places to sell your gold by sorting the options you find on Yelp based on how near they are to you.
Pawn Shops in Your Neighborhood
Pawn shops have long been one of the most popular places to sell gold. These stores existed for decades before the proliferation of online gold buying companies and websites. Most neighborhoods tend to have pawn shops, and a quick search online will reveal the pawn shops that are nearest to you.
Selling your gold to a pawn shop is also incredibly easy and you can do so just by walking into any pawn shop with your gold. Typically, a staff member will appraise your gold on the spot and make you an offer. If you are unhappy with the offer you receive, you can walk away with no obligation to sell.
To find a reputable local pawn shop, follow these steps:
- Do a Google search for “pawn shop in [insert the name of your neighborhood here]”
- Check to see if the options have any reviews from past customers
- Call the pawn shops that you are interested in to see if they are still operating
However, pawn shops need to make money from the gold they buy from you. Thus, the valuation that you get from a pawn shop for your gold is likely to be lower than its market value. Nonetheless, the convenience you enjoy when you sell to a neighborhood pawn shop may well be worth it.
SellYourGold.com is a popular online gold buying website. The website will buy your gold no matter where you are in the United States. It will arrange for a free FedEx home pickup for your gold, enabling you to sell your gold from the comfort of your home.
Compared to other online gold buying websites, SellYourGold.com offers insurance of up to $100,000. Thus, this makes it a good option if you are selling a lot of gold. The company also offers same-day payments, enabling you to get paid within 24 hours if you accept their offer for your gold.
Other Sites Like to Sell Gold
Frequently Asked Gold Questions
How much should I get for selling my gold?
The amount you should get from selling your gold will depend primarily on two factors: the weight and purity of your gold. Purity is typically measured in karats and refers to the percentage of an item that is made of gold and not another metal or alloy.
To determine the actual amount of gold in your item, divide its weight by 24 and multiply the answer by the number of karats that it has. For example, a 12K gold bracelet weighing a hundred grams would have 50 grams of actual gold in it.
Using the actual amount of gold in your item, you can calculate how much it is worth using the market price of gold, which is determined by supply and demand. However, most gold buyers and dealers use a price that is several percentage points lower than the market price. This enables them to earn a profit when they resell your gold.
You can check the market price for gold on any reputable stock exchange.
What is the best way to sell old gold jewelry?
The best way to sell your old gold jewelry is probably to use an online gold buying website such as CashForGoldUSA. Such a website would enable you to sell your gold jewelry from the comfort of your own home.
You will not need to travel to a physical store and can simply mail your gold directly to the company for free. You will also get paid remotely, so you do not need to worry about walking around with a large amount of cash.
Should you sell your gold for cash?
The answer to this question will depend on many factors. For example, if you are in urgent need of cash to pay some unforeseen bills, then selling your gold can be a quick way to raise funds. However, if you bought your gold as an investment, it may be better to hold on to your gold for the long term.
Some questions you can ask yourself when deciding whether or not to sell your gold include:
- What is the condition of your gold? If your gold is in the form of broken jewelry or scraps, it may not be worth keeping and you can sell it to get some quick cash.
- What is your purpose for the gold? If the gold has sentimental value to you or if you bought it as an investment, you may not want to sell it unless you’ve earned a profit or you need cash urgently.
- Will you lose money if you sell your gold? Compare the price that you are getting for your gold with how much you paid for it. If you are losing money, it may be better to hold onto your gold until the price of gold increases so you earn a profit or at least break even.
How long does it take to sell gold?
The time it takes to sell gold generally depends on where you are selling it. If you are selling your gold in person at a pawn shop or jewelry store, you can often get paid in cash within minutes. In contrast, selling your gold to an online gold buying company may take several weeks.
How can I sell gold instantly?
If you want to sell your gold instantly, your best bet would probably be a pawn shop or jewelry store in your neighborhood. They will be able to appraise your gold on the spot and make you an offer for it.
If you opt to sell your gold to a pawn shop or jewelry store, it may be worth visiting several such stores in your neighborhood to get an appraisal of your gold. Then, you can sell your gold to the shop that gives you the best offer.
Is now a good time to sell gold 2022?
The market for gold in 2022 has been booming thus far, and gold has set several record high prices this year already. Thus, if you have gold that you no longer want or need, now is as good a time as ever to sell it.