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Where to Sell Gold?

There are many places where one can convert gold bullion and jewelry into cold hard cash. Below are a few ideas:

  • Pawn shop
  • Jewelry Store
  • Gold Exchange
  • Private gold buyer
  • Collector
  • Friends and Family
  • Banks (some banks do provide gold to fiat exchanges)
  • Cash For Gold Shops
  • Gold Dealers
  • Online cash-for-gold websites
  • Direct Gold Refiner
  • Casinos (some may have a set-up to exchange gold with cash)
  • Precious Metals Recovery Companies

To get the most cash for your gold, it’s best to choose a business that has a public store front. Online cash-for-gold websites are notorious for miscalculating your gold’s worth, as cashing their payout checks mean 100% acceptance. Thus, it’s in your best interest to sell the bullion or jewelry to a buyer that is willing to show you the test result. That dealer should also weight the precious metal in your presence. If there’s any discrepancies, you would have a chance to accept or reject their offer.

Keep in mind that bullion is very easy to convert to cash. You should have no problem getting instant cash when selling your gold or silver bar or coins. Jewelries may be a little more difficult to exchange as they require proper testing. Your necklace, ring, bracelet, pendant, etc. a usually recycled back into pure 24K gold; as such, there would be a refinery cost to be factored into the transaction. If you have a large quantity of this type of gold, it’s best to offload them to a refiner. Most gold buyers are middlemen so they must be given a cut of your payout, to be fair.

DragonCoin is a gold, silver, and platinum dealer / refiner. There is no middleman. Thus, you would be paid the highest when selling your bullion & jewelry to us. We pay the highest, guaranteed!

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Precious Metals Investment Rules of Thumb

1. Checks and money orders are better than cash when it comes to governmental scrutiny

2. $10,000 all cash purchases must be declared as investments using the I.R.S. Form 8300.

3. Transactions over $1500, in California, is not subject to the sales tax.

4. Orders over one (1) kilogram or 32.15 troy ounces are reported to Uncle Sam.

5. 25+ coins of these types are reported on form IRS 1099B: Krugerrand, Maple Leaf, and Mexican Gold Onza . U.S. Gold Eagle, the Australian Kangaroo, and the Austrian Philharmonic are not. Platinum or palladium bullion coins are treated like gold coins.

6. $1000+ USD face value of 90% silver bags or 1000 ounces silver bar transactions are reported only when you sell. 40% silver content bags are exempt.

7. U.S. platinum Eagle, Russian Ballerina, or the Australian Koala are exempt from reporting.