How to Sell Gold Jewelry: Get the Best Price Without Getting Lowballed
Published June 19, 2026 · updated June 19, 2026
Selling gold jewelry can feel intimidating, but the process becomes simple once you know the value of what you have and the differences between buyer types. The goal is to walk in informed, get multiple quotes, and never accept the first offer. Here’s how.
Know your gold’s value first
Before contacting any buyer, calculate the melt value of your pieces. Multiply the live spot price per gram by the karat purity (24k = 0.999, 18k = 0.75, 14k = 0.585, 10k = 0.4167) and by the weight in grams. One troy ounce is 31.1034768 grams, so divide the per-ounce price by that figure to get the per-gram price.
This number is your baseline. A fair buyer pays 70–90% of melt; anything below that is negotiable or worth declining. Use the gold calculator to get this number in seconds.
Decide: sell as jewelry or as scrap
There’s a fork in the road. If your piece is a desirable design, a recognizable brand (Tiffany, Cartier), antique, or has quality gemstones, you may get more selling as jewelry through a jeweler, consignment shop, or eBay. If it’s broken, out of style, or generic, selling for melt value to a gold buyer usually nets more.
Compare buyer types
- Local jewelers — Often pay the best for scrap gold because they reuse it in repairs or refining. Get 2–3 quotes.
- Coin and precious-metals dealers — Transparent on spot price, good for larger lots and coins.
- Refiners (direct) — Highest payout percentage but often require minimum weights and an account.
- Pawn shops — Convenient but typically the lowest offers, around 50–70% of melt.
- Mail-in services — Convenient but risky; many pay 50–70% and use short refusal windows.
Tips for a fair deal
- Weigh at home first on a digital gram scale so you can verify the buyer’s number.
- Sort by karat before going. Don’t let mixed karats be lumped at the lowest rate.
- Get quotes in writing, including the spot price and unit (grams or pennyweight).
- Negotiate. If a jeweler offers 75% and you’ve calculated 88% is fair, ask. Many will move.
- Don’t sell stones for scrap. Have a jeweler remove diamonds or sell the piece intact if the stones have value.
Avoid common traps
Watch for buyers who weigh in pennyweight but quote in grams (or vice versa) to confuse you, storefronts with no posted spot price, and pressure tactics. If something feels rushed or vague, walk away — gold buyers are competitive, and another shop is nearby.
Once you’ve accepted an offer, you’ll usually be paid same-day in cash, check, or wire. For amounts over $10,000, dealers must file a form 8300 with the IRS; this is routine, not a red flag.
Check the live rate on the 14K gold price per gram page before you head out so you recognize a good offer when you see one.
Frequently asked questions
- Do I pay tax when selling personal gold? Sales of personal-use jewelry are generally not taxable as income, but capital gains can apply to investment gold coins and bars. Keep receipts.
- Is cash or check safer? Checks and bank wires create a paper trail and are safer for large amounts. Cash is fine for small sales.
- How do I prove ownership? Bring receipts or photos if you have them. Some buyers ID you and record the transaction to comply with anti-theft laws.