Recognized gold coins and brand-name bars are the simplest precious metal to sell for a fair price.
Sell American Gold Eagles, Buffalos, Maple Leafs, Krugerrands, Britannias, and brand-name bars to a bullion or coin dealer who quotes against today’s live spot, where recognized products often trade within roughly 1 to 5 percent of spot. Get a second quote, confirm how and when you get paid, and never let a recognized coin be paid out as scrap. You may owe tax on any gain even when no form is filed, so keep your purchase records.
Because coins and brand-name bars are standardized and quick to verify, they trade close to the live spot price instead of the deep discount that scrap and jewelry take. Your job is to get paid near spot and avoid two common traps.
The first trap is letting a buyer treat a recognized coin or bar like scrap. The second is paying a high markup on the way in, then selling back into a thin resale market. This guide shows how dealers price bullion, what counts as recognized, product by product what to expect, and how taxes and reporting work. Before you sell, check the live price in our gold value calculator so you know your floor.
Why selling bullion is the easy case
Gold trades on a spot price set by global markets, quoted per troy ounce. No buyer pays the exact spot number. There is a small gap between what a dealer pays you, the bid, and what they sell for, the ask. That gap is the spread, and it is how dealers cover handling, testing, and risk.
For recognized bullion, that spread is small. A one-ounce American Gold Eagle or a PAMP Suisse bar is fungible, meaning one is as good as another of the same type. A dealer can verify it in minutes and resell it fast, so the buyback sits close to spot. Recognized products often clear within about 1 to 5 percent under spot, though the exact number moves with the product, the quantity, and the day’s market.
Scrap jewelry is different. It must be melted, assayed, and refined before anyone knows the true gold content, so it sells at a fraction of melt. Bullion skips that friction. The metal content is stamped, known, and trusted.
Liquidity is the other reason bullion sells close to spot. Recognized coins and bars have a deep, constant market, so a dealer who buys yours can resell it the same week without hunting for a buyer. That confidence is what lets them quote close to spot instead of padding the spread to cover the risk of being stuck with it.
- Recognized coins and brand bars buy back near spot, often within 1 to 5 percent, instead of a scrap discount.
- Verification takes minutes, so a dealer can quote and pay you the same day in person.
- The metal content is stamped and standardized, so there is little to argue about on weight or purity.
- Sovereign coins and assay-card bars resell fast, which keeps the spread tight.
- Generic or off-brand bars without a trusted refiner mark face extra verification and pay less.
- Damaged, scratched, or out-of-package pieces draw a wider discount because the dealer carries more assay and resale risk.
- A high purchase markup on the way in is never recovered on the way out; you sell at spot, not at the premium you paid.
- A pawn shop that does not specialize in bullion may price a recognized coin as scrap.
What counts as recognized bullion
Recognized bullion is the gold that dealers buy back near spot with little fuss. It falls into two groups: sovereign coins minted by national governments, and bars from refiners on the trusted delivery lists. These are factual product names, not a ranking or a price list.
- American Gold Eagle
- American Gold Buffalo
- Canadian Gold Maple Leaf
- South African Krugerrand
- Austrian Gold Philharmonic
- British Britannia
- PAMP Suisse
- Valcambi
- Credit Suisse
- Argor-Heraeus
- Other LBMA Good Delivery brands
A name-brand bar in its assay card and a sovereign coin in good condition are the products that move closest to spot. If you hold something off these lists, it can still sell well, but expect more questions and a slightly wider discount.
Product-by-product buyback: what each coin and bar fetches
Two items with the same ounce of gold can buy back at slightly different spreads. The driver is liquidity and recognition: how fast a dealer can verify the piece and resell it. The table below groups common products by how close to spot they typically buy back. The bands are illustrative and sit inside the roughly 1 to 5 percent recognized range noted above, with generic pieces usually a touch wider.
| Product | Liquidity | Typical buyback vs spot | Why |
|---|---|---|---|
| American Gold Eagle (1 oz) | Very high | At the tight end of the recognized range | The most traded US gold coin. Instantly recognized, deep resale market, so the spread stays small. |
| American Gold Buffalo (1 oz) | Very high | At the tight end of the recognized range | US Mint .9999 coin with a broad following. Quick to verify and resell. |
| Canadian Maple Leaf (1 oz) | Very high | Tight end of the recognized range | .9999 sovereign coin, globally liquid. Its security features speed verification. |
| South African Krugerrand (1 oz) | High | Recognized range | The original bullion coin and widely held. Holds 1 oz of gold in a 22k alloy, still weighed as one ounce fine. |
| Austrian Philharmonic (1 oz) | High | Recognized range | .9999 European sovereign coin, easy for most dealers to place. |
| British Britannia (1 oz) | High | Recognized range | .9999 sovereign coin with strong recognition, especially with UK-facing buyers. |
| Brand-name 1 oz bars (PAMP, Valcambi, Credit Suisse) | High in assay card | Recognized range, slightly wider than top coins | Trusted refiner mark plus a serial-numbered assay card. Sealed pieces verify fastest. |
| Generic 1 oz bars and rounds | Moderate | Usually a bit further under spot | Same metal, less name recognition, so the dealer may test more and applies a wider resale cushion. |
| Damaged or out-of-assay items | Lower | Wider discount | A broken seal, scratches, or a missing assay card add verification and resale risk. |
Read the table as a ladder, not a price sheet. Recognized sovereign coins sit closest to spot, brand-name bars in their assay cards are right behind, and generic or damaged pieces fall a step further. Ask each dealer for a quote tied to spot on the exact product you hold, since a Maple Leaf and a no-name round are not the same sale.
Where the spread comes from
Every buyback price starts from spot, then splits into a bid and an ask. The bid is what the dealer pays you. The ask is what they sell for. The distance between them is the spread, and it pays for testing, handling, insurance, and the risk that spot moves before the item is resold.
On the most liquid coins, the dealer is confident of a fast resale, so the bid sits just under spot. On generic bars, off-list products, or anything that needs more testing, the bid drops because the resale is slower and the risk is higher. A dealer who is short on a product you hold may bid tighter to get it, while one already overstocked may bid wider.
This is why a flat dollar offer deserves a second look. A quote tied to spot updates with the market and is easy to check. A flat number that does not move with the price can quietly drift below spot as the market rises.
How a dealer prices your buyback
Understanding the quote helps you spot a fair one. A dealer starts from the live spot price for the metal weight in your coin or bar, then works out a bid that protects a small margin on resale.
For a recognized product, that bid sits just under spot, because the dealer can verify it fast and sell it again quickly to another buyer. The gap covers their time, the testing, and the risk that spot moves before they resell. On common one-ounce coins and brand bars, that gap is usually a few percent.
A few things move the bid in your favor. A product the dealer is short on, a quiet market with steady spot, and a clean coin in its original capsule or assay card all tighten the spread. A product they already hold plenty of, a fast-moving market, or a piece that needs extra testing all widen it.
How to get a live quote tied to spot
The single best habit when selling bullion is to ask for the buy price quoted against live spot, not a flat dollar number. It lets you compare buyers on equal footing and check the offer against the market in real time.
Use plain, specific questions. Try: “What is your buy price on a one-ounce American Gold Eagle right now, quoted against spot?” and “Is that bid locked when I agree, or does it float until you receive the item?” A dealer who buys bullion regularly will answer both without hesitation.
Understand how a lock works. Over the phone or online, many buyers lock the bid at the moment you confirm, then hold it for a set window while your item ships or you drive in. If the price floats until arrival, you carry the market risk in between, so ask which applies before you commit.
Confirm payment before you hand anything over. Ask how you are paid (cash, check, ACH, or wire) and how long each takes to clear. In-person deals often settle same day by cash or check. Mail-in buyers usually pay by check, ACH, or wire after inspection, which can add a few business days.
Premium products versus generic bullion
Two bars can hold the same ounce of gold and still sell for different amounts. The difference is recognition. A bar from a refiner on the trusted delivery lists is accepted with little testing, so it buys back near spot.
A generic or off-brand bar holds the same metal but carries more uncertainty for the buyer, who may want to test it more carefully or apply a wider discount to cover resale friction. The metal is real, but the convenience premium is missing.
The same logic runs the other way when you buy. Paying a steep premium for a fancy mint product rarely comes back to you on the sell side, because the buyer pays for metal and recognition, not for the design you liked. For resale value, plain recognized bullion is usually the efficient choice.
Is it better to sell gold coins or bars?
For most individual sellers, recognized one-ounce coins are the easier sale. They are small, universally recognized, simple to verify, and easy to sell in part rather than all at once. A tube of Eagles or Maple Leafs lets you sell ten coins today and keep the rest.
Large bars suit larger or institutional sellers. A kilo bar (32.15 troy ounces), a 100-ounce bar, or a 400-ounce Good Delivery bar carries a lower premium per ounce when you buy, but it is one indivisible unit and appeals to fewer local buyers. Selling a single large bar can mean fewer competing quotes than selling the same weight in coins.
If flexibility and the widest pool of buyers matter, coins win. If you are moving a large position at once and have dealers who handle size, bars can be efficient. Match the format to how you plan to sell.
Selling a larger position
A bigger sale changes the calculation in two ways. First, percentages matter more: a one or two percent difference in the spread is small on a single coin and meaningful across a full tube or several bars. Second, larger sales are more likely to cross the reporting thresholds covered below.
For a sizable position, it is worth calling more than two dealers and asking each for a quote tied to spot on the exact products you hold. Some dealers post better rates above set quantities, so the same coins can earn a tighter spread simply because there are more of them.
If part of the goal is to reinvest rather than cash out, that is a different decision from getting a fair price today, and it is covered briefly near the end of this guide.
Bullion dealer versus online buyer versus pawn shop
Where you sell changes how close to spot you land. The table compares the three common channels for recognized gold bullion.
| Factor | Bullion or coin dealer | Online mail-in buyer | Pawn shop |
|---|---|---|---|
| Typical payout vs spot | 95 to 100% of spot for recognized products | 93 to 100% of spot, after inspection | 65 to 85% of spot; many treat bullion like scrap |
| Speed to cash | Same day, in person | Several days, after shipping and inspection | Same day, in person |
| Verification | Recognizes and tests coins and brand bars on site | Verified at their facility once your package arrives | Often limited; may not recognize specific products |
| Best when | You want the highest, fastest payout on recognized bullion | You have no nearby dealer or want to compare quotes | You need cash today and accept a lower price |
For most sellers of recognized bullion, a local bullion dealer or coin dealer pays the most and pays the fastest. Online buyers are useful for comparison or when no dealer is nearby. A pawn shop fits only when speed beats price.
When mailing beats a local counter
Mailing in can win in three cases: you hold a large position and an established buyback program posts a stronger bid, you have no bullion or coin dealer nearby, or the online quote tied to spot simply beats every local number. Reputable buyback programs run by large dealers can match or exceed local counters on recognized products.
If you mail, handle the logistics carefully. Photograph each item and the packaging before sealing, use tracked and insured shipping with signature on delivery, and confirm the buyer’s stated insurance limit and whether the quoted bid is locked at confirmation or floats until arrival. Keep your tracking number until payment clears.
How to get the best price for your bullion
Selling bullion well is a short checklist. Follow these steps in order and you remove most of the risk of leaving money on the table.
- 1Know your floor firstMultiply the gold weight by today’s spot to see the number under any offer. Our gold and silver value calculators do this in seconds, so you walk in with a baseline.
- 2Ask for a live quote tied to spotA fair quote reads like spot minus a small percentage and updates with the market, not a flat dollar offer you cannot check against the live price.
- 3Compare at least two quotesCall or visit more than one buyer the same day, since spot moves and offers vary. A second quote is the cheapest insurance against a low offer.
- 4Confirm settlement terms firstAsk whether you are paid by cash, check, ACH, or wire, and how long it takes to clear, before you hand anything over.
- ✓Ship insured if you mail itUse a buyer with tracked, insured, signature shipping, and photograph your items and packaging before sending.
What can reduce your offer
Most weak offers on recognized bullion come from a small number of avoidable factors. Knowing them in advance is usually enough to protect your price. These are neutral buyer considerations, not signs of a bad dealer.
The first is a scrap quote on a recognized coin. A buyer who does not specialize in bullion may weigh your Eagle and price it like melted gold, ignoring that it is a standard product worth near spot. If a quote reads like scrap, the buyer is the wrong fit for bullion, so take it to a specialist.
The second is selling into a single offer. Spot moves through the day and dealers carry different inventory, so the first number is rarely the best number.
The third is a broken package. An assay card or sealed capsule speeds verification and supports your price, so opening it, scratching the bar, or losing the card gives the next buyer more to test and a reason to widen the spread. Keep recognized products in their original packaging until the moment you sell.
The fourth is a mismatch between what you paid and what resells. A heavy premium paid for a collectible-style or special-edition mint product usually does not come back on the sell side, because the buyer pays for metal and recognition. For resale, plain recognized bullion keeps more of your money.
Find a bullion dealer near you Based on IRS, LBMA, and US Mint references.Bullion is not the same as a collectible coin
Bullion is priced for its metal. Some coins are worth far more than their gold because of rarity, condition, or a grade from a recognized service. If your coin might be rare or graded rather than plain bullion, read our guide to coin value beyond melt before you sell it at a bullion price.
If you are selling a large position and plan to reinvest in tax-deferred metals, you can compare account options through our gold IRA match tool. That is a separate decision from getting a fair price on the metal you are selling today.
Will the dealer report my gold sale to the IRS?
Sometimes, and only above set quantities. A US dealer must file IRS Form 1099-B when a customer sells specific bullion products in specific amounts. These thresholds come from long-standing industry guidance (the ICTA list tied to IRS Revenue Procedure 92-103) and are still published by major dealers. The table below shows the common triggers and what is exempt.
| Item | Triggers a dealer 1099-B when you sell | Purity minimum |
|---|---|---|
| Gold bars and rounds | 1 kilo (32.15 troy oz) or more, in one reportable transaction | .995 |
| Silver bars and rounds | 1,000 troy oz or more | .999 |
| Platinum bars and rounds | 25 troy oz or more | .9995 |
| Palladium bars and rounds | 100 troy oz or more | .9995 |
| 1 oz Gold Krugerrand, Maple Leaf, Mexican Onza | 25 coins or more (any combination on the list) | As minted |
| 90% US silver coins (dimes, quarters, halves) | $1,000 or more in face value | 90% |
Several popular products are not reportable by the dealer at any quantity. American Gold Eagles and American Silver Eagles are exempt. Fractional gold coins are exempt. Any coin not on the IRS list is exempt. So selling twenty Gold Eagles triggers no dealer 1099-B, while selling twenty-five Krugerrands does.
One more note on cash: separate from the 1099-B rules, a dealer must file a report if a customer pays with more than $10,000 in cash (or a series of related cash payments over $10,000). That rule is about the form of payment, not the product.
A 1099-B is the dealer’s reporting duty, not a measure of your tax. You owe tax on any gain whether or not a 1099-B is filed, and a sale that is exempt from dealer reporting can still produce a taxable gain you must report yourself.
Do I pay tax when I sell gold?
You may owe tax on your gain, which is your sale proceeds minus your cost basis (what you paid, including premiums and fees). A loss is generally not deductible the way an investment loss is, so keeping accurate purchase records matters.
The IRS treats physical gold and silver as collectibles. If you held the metal more than one year, the gain is long-term and taxed at your ordinary rate up to a maximum federal rate of 28 percent, higher than the top long-term rate on many stocks. If you held it one year or less, the gain is short-term and taxed as ordinary income at your regular rate.
Keep records of what you paid and when, so you can prove your cost basis and holding period. State tax may also apply depending on where you live. This is general information, not tax advice. See IRS Topic 409 on capital gains, the IRS Form 1099-B instructions, and IRS Publication 544, and consult a CPA before a large sale.
Frequently asked questions
Where can I sell gold bullion for the best price?
For recognized coins and brand-name bars, a local bullion dealer or coin dealer usually pays the most and pays the fastest, because they recognize the product and can resell it quickly. Reputable online mail-in buyers can match or beat local rates on larger positions and let you compare quotes. Pawn shops tend to pay the least and may treat bullion like scrap. Get at least two quotes tied to live spot before you sell.
How much under spot will I get for gold bullion?
For recognized products like American Gold Eagles, Maple Leafs, and name-brand bars, buyback offers often land within roughly 1 to 5 percent under spot, because the metal is standardized and quick to verify. Generic bars, damaged pieces, and out-of-package items draw wider discounts. These are illustrative ranges; your real number depends on the product, the quantity, and the day’s market.
Do I pay tax when I sell gold?
You may owe tax on any gain. The IRS treats physical gold as a collectible. Held over one year, the gain is taxed at your ordinary rate up to a maximum federal rate of 28 percent; held one year or less, it is taxed as ordinary income. Your gain is the sale price minus your cost basis, so keep purchase records. This is general information, not tax advice. Consult a CPA before a large sale.
Will the dealer report my sale to the IRS?
Only above set quantities. A dealer files IRS Form 1099-B when you sell, for example, 1 kilo (32.15 oz) or more of gold bars, 25 or more 1 oz Krugerrands, Maple Leafs, or Mexican Onzas, or $1,000-plus face value of 90% silver coins. American Gold Eagles, American Silver Eagles, and fractional gold coins are exempt at any quantity. Reporting is the dealer’s duty and is separate from whether you owe tax, which you may owe on a gain regardless.
Is it better to sell gold coins or bars?
For most individual sellers, recognized one-ounce coins are easier: they are widely recognized, simple to verify, and you can sell part of a position and keep the rest. Large bars (kilo, 100 oz, 400 oz) carry a lower premium per ounce but are indivisible and appeal to fewer local buyers, so they suit larger or institutional sellers. Match the format to how you plan to sell.
Should I sell my bullion online or locally?
Both can pay near spot for recognized products. Selling locally to a bullion or coin dealer is fastest and lets you walk out with payment the same day. Mailing to a reputable online buyer can match or beat dealer rates on larger positions and helps you compare quotes, but you wait for shipping and inspection and should always ship tracked and insured. Use whichever gives you the best confirmed quote tied to spot.
Should I sell gold bullion to a pawn shop?
Only if you need cash today and accept a lower price. Many pawn shops do not specialize in bullion and may price a recognized coin as scrap, well below spot. If you have time, a bullion dealer, coin dealer, or online buyer will almost always pay closer to spot for the same coin or bar.
How do I prove my gold bars are real?
Recognized brand bars from refiners like PAMP Suisse, Valcambi, Credit Suisse, and Argor-Heraeus come with a stamp and often an assay card that ties the bar to a serial number. Keep the bar in its sealed assay card if you can, since an intact package speeds verification and protects your price. A dealer can test the metal on site, and generic or out-of-package bars simply take more checking.
Sources
- Internal Revenue Service, Topic no. 409 (Capital gains and losses), confirming the maximum 28 percent rate on collectibles including coins, irs.gov/taxtopics/tc409 (accessed July 2026).
- Internal Revenue Service, About Form 1099-B (Proceeds From Broker and Barter Exchange Transactions), irs.gov/forms-pubs/about-form-1099-b (accessed July 2026).
- Internal Revenue Service, Publication 544 (Sales and Other Dispositions of Assets), irs.gov/forms-pubs/about-publication-544 (accessed July 2026).
- JM Bullion, Bullion Transactions That Require a 1099-B Form (gold 1 kilo/32.15 oz, silver 1,000 oz, platinum 25 oz, palladium 100 oz, 25-plus Krugerrand/Maple Leaf/Onza, $1,000 face value 90% silver), jmbullion.com (accessed July 2026).
- Scottsdale Mint, Reportable Bullion Transactions, scottsdalemint.com/reportable-bullion-transactions (accessed July 2026).
- CollectPure, 1099-B Tax Reporting Requirements for Bullion Transactions, referencing ICTA and IRS Revenue Procedure 92-103, collectpure.com (accessed July 2026).
- London Bullion Market Association, Good Delivery standard for recognized refiner bars, lbma.org.uk (accessed July 2026).
- United States Mint, specifications for American Gold Eagle and Gold Buffalo coins, usmint.gov (accessed July 2026).
- Established dealer buyback references (APMEX, JM Bullion, SD Bullion) for spot-relative buyback behavior by product, retrieved July 2026.