How much will I actually get for my gold?

How much will I actually get?

If you read our prior blog post, you learned how to calculate gold based on purity and weight at home. But we specifically noted that this isn't the final amount you would get paid when you trade in your gold. Why is there a difference?

While all gold is the same, the payouts for trading in vary slightly.

For example, a certified and sealed gold bar at trade in that's in perfect condition is very likely to get you near spot price minus 1-3% depending on market conditions. That's because it's easy to resell and there's no work involved.

A piece of jewelry however can't easily be resold. It has to be melted down and refined into pure gold so it can be used in a new piece of jewelry or a bar. That adds time and labor which results in refining charges of 7-10% depending on market conditions.

Other conditions that could result in lower payouts is unstamped on unmarked items. Usually those items have inconsistent gold readings which could lead to a dealer either denying the purchase or covering its risk by assuming a lower gold purity. 

The important things to note are that country of origin, brand name of jewelry, condition, design, and collectible status have NO impact on the buyback rate. Since all gold repurchased is assuming to be melted and recycled, none of those conditions impact your payout.