Sell Your Gold & Silver To Us (2024)

FAQs

How to sell gold in the USA? ›

You have some options when you want to sell gold jewelry. You can sell your gold to a local gold buyer, a local jeweler, a pawn shop, or an online buyer like Cash for Gold USA. We like to think we are the best place to sell gold jewelry, gold, silver, platinum, and other precious metals.

The current spot price for gold (as of the 4th of April 2024) is $73.73 per gram, $73,726 per kilogram, or $2,293.13 per ounce. Overall, prices in 2024 have skyrocketed, reaching $2,315 per ounce at the highest point so far.

Conduct thorough research to identify reputable gold buyers in your area. Look for established jewelry stores or online platforms with positive reviews and a history of satisfied customers. Avoid dealing with random individuals or unverified online buyers, as they may be more likely to engage in unethical practices.

You can sell your precious metals to the U.S. Gold Bureau with 100% confidence there won't be any surprise fees.

There are three main places to sell gold — reputable online gold buyers, bullion pawn shops and local jewelers. We generally recommend selling online if you're looking for the highest possible price for your gold, although each option offers its own range of advantages and disadvantages.

This is called the capital gains tax. And since gold is an investment asset, when you sell your gold and make a profit it is taxed as capital gains. Though, depending on how you held your gold, you will either have to pay taxes at the ordinary capital gains rate or at a general rate of 28%.

As a general guideline, expect to get 55 to 75 percent of the total gold value (assuming the piece is in good shape). So, if your necklace contains about $420 worth of gold, a fair offer would be $231 to $315. Another way to calculate it is to reduce the per-gram value by 25-45 percent.

By doing your research, finding a trustworthy buyer, and understanding the current market conditions, you can ensure a successful transaction. Remember that confidence is key when selling gold. Don't be afraid to negotiate and ask questions to your buyer to ensure that you are getting a fair price.

If you plan to buy low and sell high, the annual lowest price of gold generally occurs around the second week of January. From there, the price often makes a steady rise through to the end of the year, with a summer dip in price between April and June.

Who pays the best price for gold? ›

Local dealers such as coin shops and pawn shops can also be a good option for selling gold, but it's important to shop around and compare offers to ensure that you are getting a fair price.

There are two circ*mstances in which precious metals dealers are legally obligated to report consumer transactions to the IRS: when a consumer sells reportable quantities of specific bullion or coins; and. when a consumer buys goods from a dealer and pays $10,000 or more in cash for the goods.

Of course it is possible; it has been done before and governments in times of stress simply change the laws. As you can see above, gold bullion was forced to be sold to the government in 1933. Then in 1974, that executive order was repealed.

As mentioned before, the ban on private ownership of gold in the United States was implemented as an emergency measure to combat the Great Depression. The U.S. was on a gold standard at the time, meaning that the value of the U.S. dollar was tied directly to a specific amount of gold.

Gold is also available from private dealers, jewelry stores, coin shops, private mints, and government mints. It's best to buy from a reputable source to ensure that you are buying precisely what is represented. You also can purchase physical gold from online gold dealers.

Cash for Gold USA is a trusted and legitimate business maintaining an A+ rating with the Better Business Bureau. We offer one of the safest and most secure ways of shipping and selling your precious metals: Gold, silver, diamonds and platinum.

What is the right amount to receive for your gold? If you're selling Gold Jewelry, a reasonable settlement would be 70% to 80% of the market value. If you're selling Gold Coins a reasonable settlement would be 90% of the market value.

While not all banks deal with gold bars, some do accept them as deposits or for sale. You'll need to check with your bank or other financial institutions to see if they offer these services. Be aware that banks that trade in gold might only accept gold bars with certain accredited markings.