Where to Sell Gold

You have accumulated a lot of metal and have spent a lot of time and resources stacking coins or gold bars (or even silver)? Good, but now where do you think you will sell your gold? Thinking about how and where to sell gold is important, a consideration to always make, regarding your precious metals.

Everyone likes to have 10 kg of gold bars set aside, but it may not be as pleasant to sell them.

Moreover, it might not be a good idea to sell gold for FIAT currency. Many think it is not worthwhile to accumulate pieces of paper under the mattress.

So, how will you use your precious metals? When will you use them and for what? Where are the opportunities today if you want to sell your gold?

Then there’s the issue of quantity. If you need to sell gold for amounts under 250 euros, you might consider putting them on eBay (we do not recommend this). Instead, for amounts over that, we always advise using some form of guarantee and perhaps an intermediary who acts as a guarantor. This is the case with our partner where you can sell both coins and bars or jewelry.

If you have a trusting relationship with the numismatist in your city, you may be able to sell the gold not only at the market “spot” price but also at a higher price that, in the case of coins, includes the numismatic value of the piece.

Nice question.

Usually, at coin and numismatic shops, unless the piece is a rare or sought-after item, you can get at least 90% – 95% of the market price of gold.

Keep in mind that those who buy and sell gold typically work on very tight margins.

Instead, by putting the same coins up for auction on this site, the prices will surely be higher, even though in the end you will have to pay some service fees that guarantee you both a secure transaction and a profitable sale.

Do you want to understand how much your gold is worth because you need to sell it? Well, you need to check the market value on the stock exchange, the price of 24-carat gold (999/1000).

You can see the price of gold in various markets here.

To estimate the value of your gold you need to do 3 things:

• You need to know the carat.
• You need to weigh your gold. The value of gold is given in troy ounces but you can also weigh it in grams and then convert.
• You need to make the conversion between carat, weight, and current market value.

The price of metals continues to rise, and the number of buyers willing to purchase your gold is dwindling.

Those who have already built a nice stock of gold in bars or gold coins and have the economic strength to continue doing so should perhaps consider not stopping and continue to accumulate both gold and silver.

Now let's see where you can sell your gold.

Sell gold online:

On the internet, there is an infinite sea of buyers for your gold. Especially in online communities, particularly those dealing with auctions of antiques, coins, bars, and precious materials.

Among those we use, the best is this one (registration and listing an item or a single piece for auction are free). The platform acts as an intermediary and ensures maximum control.

You can set a minimum auction price and then let buyers compete by raising the price of your gold. It’s fun, and in the end, you will only pay a small commission once the sale is completed. We have explained how to auction rare coins or items on this page.

Sell gold on eBay

On eBay, which is still a large community today, you can post an ad with a fixed price that guarantees a sale at the price you want (if someone is willing to pay it, of course).

The thing that raises eyebrows is that it involves gold and therefore a huge value. On eBay, there are no experts to evaluate it, and there are no intermediaries to guarantee the transaction. It could happen that a PayPal payment gets blocked or that a new user with no reviews makes a purchase. In short, do you want to take risks with these transactions at your own expense?

Sell gold to international dealers

Abroad, especially in America, Apmex and JM Bullion are famous. These dealers can buy your gold after you agree on a price over the phone. Then they lock in the price, and you only have to pay for shipping. In Italy, we are not aware of similar services, are you?

Sell gold at jewelry stores

You need to be careful when selling gold at jewelry stores.

They might pay interesting prices, but buying gold is not exactly their priority. Therefore, you might have trouble finding a jewelry store that wants to buy, as well as finding one within the time frame you have set.

We recommend not selling gold to jewelry stores that take gold in exchange, trading it for new gold or other jewelry. It’s not convenient because you would pay much more for the new gold than the actual price of gold per gram.

Sell gold at coin shops

Selling gold at coin shops is one of the best ways to quickly liquidate your precious metals. The problem here is that there are not many numismatic shops, and you should always find a trustworthy one.

We prefer to sell or buy from numismatists online, taking advantage of the enormous visibility that portals like this one offer.

Sell gold at the bank

We do not know of any banks that buy gold.

Sell gold to gold buyers

Gold buyers are specifically made to purchase your precious metal, and when they emerged, they took this type of market away from jewelry stores.

It is certainly a quick way to get cash, and equally certainly it is not the best way to sell your gold. You won’t make much profit; the quote they offer you will be very disadvantageous.

However, if you ultimately decide to rely on these services, at least trust the stores registered in the gold buyers' registry.

In any case, always check the weight of the metal at home before going.

Sell gold to private individuals

If you know well the person to whom you will sell your gold, there is no problem. If you don’t know them, do you think it’s worth meeting somewhere with a stranger and risking being robbed of all your gold in one minute?

Sell gold at pawn shops

Pawn shops are another place where you can sell gold. Although they are definitely places to visit when looking to buy something, they might not be the best option when you want to sell.

They won’t offer you good prices for your gold because they need to have a good profit margin when they sell it. If you need cash immediately, then that’s another story.

Sell investment gold

When we talk about investment gold, we refer to specific purities of the metal usually contained in coins and bars.

For example, gold sovereigns are special coins, with a purity so high that they are considered investment gold. The gold they contain is 91.7% pure, giving them a 22K rating, higher than the 18K of regular jewelry.

Their value is equal to their weight. If the coin is also special from a numismatic point of view (perhaps it is rare), then the numismatic value is added to the metal value. Here, the condition of the coin is also a fundamental factor.

The table below helps you understand not only the types of coins that are considered “investment” but also the purity and therefore the quality you should consider when calculating their value.

We hope this brief article (but full of important information) has been helpful to you. If you want to sell gold, rely on this auction site, and if you want to buy it, visit this Italian site. If you have comments or other ideas on how to sell gold, please write them below.