What Percentage Do Gold Dealers Take from Your Gold Sales

Gold dealers typically take a commission from the sale of your gold, which can range from 2% to 15% of the total value, depending on the dealer and the type of gold being sold.

Some dealers may charge a flat fee, which can be anywhere from $20 to $100, regardless of the gold's value.

In general, dealers who buy gold at a lower price will take a larger commission to make up for it.

Dealers who buy gold at a higher price may take a smaller commission, but they may also have stricter requirements for the gold's purity and condition.

A different take: Regional Broker Dealers

Gold dealers typically offer about 95 percent of the spot price for gold, although this can vary depending on market conditions.

If supply is tight and demand is high, you might be able to fetch more, but if supply is ample and demand is low, you could get less.

Some bullion dealers buy back gold from clients under the spot price, often between spot -2% to spot -10%.

Take a look at this: Primary Dealers

Most bullion dealers will offer about 95 percent of the spot price for gold, though this can vary depending on market conditions.

If supply is tight and demand is high, you could fetch more for your gold, but if supply is ample and demand is low, you could get less.

Buyback prices are generally lower for pieces of bullion jewelry since more advanced design and fabrication went into them.

For costume jewelry, keep in mind that the actual precious metal content may be low, so buyback would be based on how much gold it actually contains.

Related reading: Do Jewelry Stores Buy Gold

Fresh Bars from Refineries are the first source for bullion dealers to get gold, and they have a higher guarantee of purity and quality standards.

Refineries like MKS-PAMP and Heraeus give their own prices for gold bars, with a premium range of about USD3.20/toz to USD1.50/toz.

Bullion dealers pay more than these premiums, with some paying up to 0.30% more than the international spot price.

Refineries use their own spot prices, which are usually higher than the international spot price.

A small order of USD 1 or 2 million from a bullion dealer to a LBMA refinery can result in a premium of about 0.14% to 0.30% above the spot price.

Additional reading: How to Buy Gold Bars from Costco

You'll pay more and get less back if you buy a 100g gold bar compared to purchasing and vaulting 100g through BullionVault.

The spread percentage can vary between websites selling bullion, so it's essential to compare prices on different sites.

A 0.5% commission is charged both when you buy and when you sell, which means a round trip will incur a total commission of 1%.

You can compare live order board prices 24/7 to see the current spread percentages in action.

Gold sales can be affected by the type of gold being sold. Second-hand gold and recycled gold can sell for different prices.

The price of second-hand gold can vary depending on the bullion dealer. They may buy back precious metals from clients at spot -2% to spot -10% below the current market price.

Bullion dealers can then sell this gold to new clients at a markup, often between spot +2% to spot +10%. This means they can make a profit on the sale.

Readers also liked: How to Buy Spot Gold

Gold from recycled products, such as scraps, jewelry, or electronic devices, is usually sold to refineries to be turned into fresh bars. Bullion dealers typically pay around 10 to 20% below the market price for these scraps.

Some dealers, like Cash Converters in Europe, may offer even lower prices for gold jewelry, selling it for 50% less than the actual value of the gold.

If this caught your attention, see: Switching Broker Dealers

Gold sales can be a complex process, and it's essential to understand the different ways gold dealers make their money.

Bullion dealers buy back precious metals from clients at a lower price than they sell them, typically between spot -2% to spot -10%. This means they'll sell you a bar at spot +2 to 10% if they bought it at spot -2 to -10%.

When selling gold, the price you receive is often significantly lower than its appraised value. For example, an 18k gold necklace appraised for $1,300 may only be worth around $330 for its raw gold content.

Some gold dealers will pay you even less than that, so it's crucial to do your research and compare prices. Cash Converters in Europe will buy your gold jewelry for 50% less than the price of the gold.

Check this out: Will Gold Prices Go up

Bullion dealers can get gold by buying back precious metals from random clients, which we call "second hand" gold bars.

These bars often pass from hand to hand, and bullion dealers typically buy them back from clients at a price 2-10% below the spot price.

If a bullion dealer buys a 100-gram bar at spot -2 to -10%, they'll sell it to you at spot +2 to 10%.

Gold from recycled products usually goes to a refinery to be made into fresh bars, and the bullion dealer pays around 10-20% below the market price to get scraps.

Others, like Cash Converters in Europe, will buy your gold jewelry for 50% less than the price of the gold.