Start with what you have
Gold reaches a buyer in a few forms, and knowing which you have tells you which buyer fits.
- Bullion coins and bars, such as American Gold Eagles, American Buffaloes, Canadian Maple Leafs, Krugerrands and stamped bars. Each is marked with its gold content, so its price follows the gold market closely.
- U.S. gold coins dated 1933 or earlier, such as $20 Saint-Gaudens and Liberty Head pieces. Many are worth more to a collector than their gold content because of their date, mintmark or condition.
- Other gold items. These are bought for their gold: weighed, tested for fineness and priced by the pure gold they hold.
Coin dealers
A coin dealer buys coins and bullion every day, follows the gold market closely and knows which older coins collectors look for. That matters most if you have U.S. gold coins dated 1933 or earlier, or anything sealed in a grading holder.
Jewelers
Many jewelers buy gold as well as sell it. Some keep pieces to resell; most send what they buy to a refiner. A jeweler is a natural first stop for gold items. For coins and bullion, compare a jeweler’s figure with a coin dealer’s.
Pawn shops
A pawn shop does two different things. A pawn is a loan: you leave the item as security, take the money, and get the item back if you repay the loan and its charges in the agreed time. If you don’t, the shop keeps the item and sells it.
A sale is different: the money is a payment, and the item is gone. If you mean to sell, say so, and make sure the paper you sign is for a sale.
Refiners that buy by mail
Some companies buy gold by mail. You send your gold in their envelope or kit, they weigh and test it, and they send you an offer or a payment.
It can be convenient, but you aren’t in the room when your gold is weighed and tested, and once it’s in the mail you can’t simply take it back. Before you send anything, read how long you have to turn down an offer, how your gold comes back if you do, and what happens if a package goes missing.
Pop-up buyers and gold parties
Pop-up buyers rent a hotel room or an event space for a few days and advertise before they arrive. When they leave, there is no counter to go back to with a question.
At a gold party, a small group gathers at a host’s house to sell gold to a buyer, who weighs and tests each piece there. The host is paid a commission on each sale. It is easy to feel rushed in company, so take your time, and ask for a figure for each piece as you would anywhere.
Online marketplaces
Selling online, you sell to another person instead of to a buyer. You may reach collectors, but you take the photos, write the listing, pay the marketplace’s fees, mail the item and wait to be paid, and you carry the risk of a buyer who says it never arrived or wasn’t as described.
How to compare buyers
Whichever buyers you try, the same five habits let you compare them fairly.
Ask for a dollar figure per item
Ask what they would pay for each piece, in dollars. A price per gram or a share of spot is hard to compare from one buyer to the next; a dollar figure per item is not.
Watch the weighing and testing
Your gold should be weighed and tested where you can see it. Check that the scale reads zero before your piece goes on, and ask which unit it shows. A troy ounce is 20 pennyweights (dwt), or about 31.1 grams.
Get the offer itemized
Ask for each piece’s weight, fineness and dollar figure, in writing. One figure for the whole lot hides which pieces you’re being paid for.
Bring ID, and don’t clean anything
Expect to show a valid government photo ID. Leave coins and other pieces as they are: cleaning can’t be undone, and it can lower what a coin is worth to a collector.
Know you can walk away
An offer is an offer, not a deal. You can take your gold back, think it over and get another quote. A buyer who rushes you, or won’t give you a figure per item, is a reason to leave.
For why a dollar figure is easier to check than a price quoted against spot, see how much a gold buyer will pay.
Selling to us in Garden Grove
We’re a walk-in buyer in Garden Grove, and we price in dollars. You can see today’s prices for gold coins and bars, item by item, before you drive.
Today’s prices for common gold coins
| Item | We pay |
|---|---|
| 1 oz gold bullion coins 91.67% gold · 32.7 mm · 1 oz of fine gold each | $3,491 per coin |
| $20 gold coins (Liberty Head and Saint-Gaudens) .900 fine · 34 mm · 0.9675 oz of fine gold each | $3,377 per coin |
| $10 gold coins (Liberty Head and Indian Head) .900 fine · 27 mm · 0.4838 oz of fine gold each | $1,689 per coin |
| 1/10 oz gold bullion coins 91.67% gold · 16.5 mm · 0.1 oz of fine gold each | $349 per coin |
Walk in to our Garden Grove store; no appointment needed. We weigh and test every piece in front of you and give you an itemized offer you can take or leave. Bring a valid government photo ID; you must be 18 or older. If you have a large collection, call first so we can set time aside for it.
Questions
Should I sell gold coins to a coin dealer or a jeweler?
Either can be fair. A coin dealer knows which older coins collectors look for, which matters most for U.S. gold coins dated 1933 or earlier and coins in grading holders. Wherever you go, ask for a dollar figure for each piece and compare.
Is it worth getting more than one offer?
Yes. Offers can differ from one buyer to the next, and with a dollar figure for each piece you can compare them in minutes. You can always take your gold back and think it over.
Is pawning gold the same as selling it?
No. A pawn is a loan with your item as security: you get it back if you repay the loan and its charges in time. A sale is final. If you mean to sell, make sure the paper you sign is for a sale.
Do I need an appointment at your store?
No. Walk in with what you’d like to sell and a valid government photo ID; you must be 18 or older. If you have a large collection, call first so we can set time aside for it.