How to Sell Raw Gold

How to Sell Raw Gold
Sell Raw Gold

Know the market value of your gold. Check the online financial pages for daily price quotes on gold. This will give you an idea of the value of your gold, although it will be worth a little less since it has not been refined into coins or bullion.

Have your gold assayed. An assay is a chemical test that verifies that what you have is gold and determines the gold content (that is, how much is gold and how much is impurities). This is information that is needed to calculate the value of your raw gold.

Find a dealer to buy your raw gold. In many cases, the assay service also buys and refines gold, so this may be very simple. If the assay service does not buy raw gold, you can use the U.S. Mint's bullion dealer locator to find buyers in your area or contact online dealers. The link to the U.S. Mint and links to sample online buyers are provided in the Resources section.

Sell your raw gold. Plan on receiving a price somewhat less than the price of bullion on the financial markets, since the cost of refining the gold has to be taken into account, as well as the dealer's commission.

Maintain a complete record of all the steps (assaying, refining and actual sale). You will need these records for tax purposes later.