Where to sell gold in the US

Selling gold in the US is easy to do and easy to do badly. There is no national buyback desk at the US Mint, Costco will not take bars back, and the same 1 oz coin can draw offers that differ by hundreds of dollars depending on who you ask. This guide covers who actually buys gold in the US, what they pay compared with the spot price, how the IRS taxes the sale and when a dealer must report it.

Where can you sell gold in the US?

There are five realistic routes. Which one pays most depends on what you are selling: recognized bullion (American Eagles, Buffalos, Maple Leafs, Krugerrands, bars from known refiners) is priced close to spot almost everywhere, while jewelry and unmarked items are bought as scrap at a bigger discount.

Two common dead ends. The US Mint does not buy coins from the public. Instead, it requires its Authorized Purchasers to maintain a two-way market, which is why your Eagles end up with a dealer. And if you bought a bar at Costco, Costco will not buy it back: precious metals are excluded from its return policy. A Costco gold bar from PAMP or Rand Refinery sells to a dealer like any other bar from that refiner.

Local versus online is a real trade-off, not a rule. A shop pays you on the spot and lets you walk away from a low offer; an online dealer often pays more on large lots but you must ship first. Our local coin shop vs online comparison covers the buying side of the same choice.

What do US dealers pay compared with spot?

Few large US dealers publish their buy prices openly. Kitco does, so we captured its bid list and, at the same time, the price two big online dealers charged for the same American Gold Eagle. That shows both sides of the trade.

GoldVetted automated capture of Kitco's "Sell to Kitco" page on Sunday, October 11, 2026, 22:25 UTC, shortly after the gold market reopened. Spot from gold-api.com at 22:25 UTC. Kitco requires a minimum sell order of $5,000 and also bought older .999 Maple Leafs (1979 to 1982) at a lower $3,966.73. Prices change with spot.

APMEX and SD Bullion prices captured from their product pages at 22:26 UTC on October 11, 2026. Card and PayPal prices were higher at both ($4,605.93 and $4,507.53). See our premium tracker for the monthly check.

The lesson: the coin you choose affects your exit price. Kitco paid more for a Maple Leaf or Buffalo than for an Eagle or Krugerrand on the same evening, because buyers price each product by how easily they can resell it. Dealers set their own bids, so treat these as a snapshot and ask for a live quote. Kitco is reviewed in our Kitco review; APMEX, SD Bullion and JM Bullion also run buyback programs but did not publish open bid lists we could capture.

How do you sell gold step by step?

1. Sort what you have

   Put bullion coins and bars in one pile and jewelry in another. Note each coin's name, weight and year, and keep any assay cards, tubes or receipts. Bullion should never be weighed in with scrap.

2. Work out the melt value

   Multiply the fine gold content by spot. A 1 oz Eagle contains one troy ounce of gold, so its melt value is simply today's spot price. For jewelry, our scrap gold calculator works by karat and weight.

3. Get two or three quotes

   Ask an online dealer that publishes bids and at least one local coin shop. Ask for the price per item and whether shipping, insurance or assay fees are deducted. Compare the net payout.

4. Lock the price in writing

   Online dealers lock the price when you accept by phone or online. Get the confirmation by email, with the quantity and price per item.

5. Ship insured, or sell in person

   Use the dealer's prepaid label if offered, or registered or insured mail. Photograph items before sealing the package and keep the tracking number.

6. Get paid and keep records

   Payment is usually by check, ACH or wire after inspection. Keep the sale confirmation with your original purchase receipt: you need both for your tax return.

Selling specific items? See our guides to selling gold coins, selling gold bars and selling scrap gold, or the global how to sell gold guide for the UK, Canada and Australia.

How is selling gold taxed in the US?

The IRS classes physical gold as a collectible, not as a stock. According to IRS Topic 409, the gain on a collectible held more than one year is taxed at a maximum federal rate of 28%, which is higher than the 0%, 15% or 20% that applies to most long-term stock gains. Gold held one year or less is taxed as ordinary income.

Your gain is the sale price minus your cost basis, which includes the premium and any fees you paid to buy. If you bought a coin for $4,327.23 and sold it for $4,091.99, there is no gain to tax. State income tax may apply on top. Our US gold tax guide covers state rules and record keeping.

When does a dealer file Form 1099-B?

Most single-coin sales are not reported. The IRS Form 1099-B instructions say a sale of precious metal is reportable only if the form of metal is approved for a CFTC regulated futures contract and you sell at least the contract quantity. The IRS's own example: CFTC-approved gold coin contracts require at least 25 coins, so selling one coin is not reportable. Sales by the same customer within 24 hours are added together, and the exception does not apply if a dealer has reason to think you are splitting sales to avoid reporting.

List as published by APMEX, which says it follows industry guidelines based on the IRS instructions. Dealers may apply their own policy.

Whether or not a 1099-B is filed, you must report any taxable gain yourself. Not being reported is not the same as not being taxable.

How do you avoid gold-selling scams?

Mail-in buyers are where most problems start. In 2010 testimony to Congress, the Federal Trade Commission said some online gold buyers gave a price quote only if asked, and that some consumers were paid only after their items had been melted down, leaving them with "limited recourse". The safeguards follow directly from that:

• Get the offer before the gold leaves your hands. Prefer buyers that publish a price or give a written quote first.
• Read the return terms. If you reject the offer, who pays to insure the return, and how long do you have to decide?
• Insure the package yourself if the buyer's free envelope only covers a small amount.
• Ignore "above spot" promises for bullion. Dealers resell near spot, so they rarely pay more.
• Never hand gold to a courier for "safekeeping". The FTC warned in July 2025 that scammers posing as government agents tell people to buy gold bars and hand them over. Its advice: "Don't give bars to a courier, and don't deliver them." Report it at ReportFraud.ftc.gov.

Our guide to gold scams covers fake bars, pressure selling and fraud on the buying side too.

Planning to buy again later? Our guide to the best places to buy gold in the US compares dealer prices and fees, so your next round trip starts cheaper.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.