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How to sell without getting taken

Written by a buyer, which should make you a little suspicious — so check every claim on this page against the live board and against any other shop in town. That's rather the point.

Know the number before you go anywhere

The single biggest advantage you can have is arithmetic. Weigh your gold on any kitchen scale, check the karat stamp, and run it through our melt calculator against the live Kitco board. Now you know the ceiling before anyone opens their mouth.

A customer who's done that is the easiest one in the world to deal with honestly — and the hardest to lowball. Do it before you come to us, too.

◆ Everyone buys under melt. Everyone.

Including us. The gap covers refining, assay, and the cost of keeping a lit counter and a licensed safe. Any buyer promising you 100% of melt — or "above spot" — is making it back somewhere you can't see, usually on the scale or the karat test. The honest question isn't whether there's a spread, it's whether they'll tell you what it is.

Don't clean, don't polish, don't pre-sort

  • Never clean a coin. It's the most expensive four seconds in the hobby, and it can't be undone.
  • Don't polish silver before an appraisal — patina on flatware and hollowware is often wanted.
  • Don't pre-sort. People bin the good stuff and carefully carry in the worthless stuff. Bring all of it.
  • Don't break sets. Mint packaging, boxes and papers are part of the value.

What to bring

Valid IDRequired by California law
Box & papersFor watches especially
ReceiptsOr any prior appraisal
CertificatesGIA reports, slabs
Everything elseEven the stuff you doubt
TimeDon't sell in a hurry

Sell, or borrow?

People forget this is a choice. If you need cash for a few months and want the ring back, a pawn loan keeps ownership: no credit check, nothing on your report, and the piece comes home when you pay it off. If it's a genuine exit, sell outright and take more money today.

Signs you should walk out

  • They take your item out of sight. The scale and the test belong on the counter, facing you. Always.
  • They won't say the spread. A dealer who can't explain the gap between their number and the board is hiding it.
  • The offer expires today. Metal moves; urgency is theatre. A real number is a real number tomorrow.
  • They leave town Sunday. Hotel-ballroom gold events have no Monday. There's nobody to go back to.
  • They quote off an appraisal document. Insurance value is replacement retail, not resale. If they wave it around to justify a number, they're managing you.
  • They're annoyed you're checking. Pull up Kitco on your phone at the counter. Watch the reaction. That reaction is the review.

Get more than one number

We'll say this plainly even though it costs us: take it to a few places. Debbie Dawson took five items to five different shops before settling on us — and what brought her back wasn't only the price, it was that our staff were "very knowledgeable and patient in educating me through the process."

A business that's been in one town since 1982 wants you to shop around, because the comparison is the pitch.

How It Goes

A good counter, step by step.

1

Everything in view

Scale facing you, tests on the counter. Nothing goes into a back room. Ever.

2

The maths, out loud

Weight, karat, purity, the board it's priced from, and the spread.

3

What's worth more intact

A good buyer tells you when NOT to melt something. Once it's gone it's gone.

4

No pressure to decide

Take the number home. If that's a problem for them, that's your answer.

Today at the Window

Check anyone against this.

Kitco New York spot. Pull it up on your phone at any counter in the Valley, ours included, and compare. A dealer who flinches is telling you something useful for free.

◆ Kitco New York Spot — Troy Ounce · USD
Bid is the raw metal benchmark — not an offer. What we pay depends on purity, weight, form and condition. Source: Kitco New York spot. Get a real quote →
Keep Reading

More from the Learning Center.

Shop around. Then come see us.

We've been on Blackstone since 1982. The comparison has been working out for us for forty-four years.