Guide
How to sell gold for the best price
Gold is a commodity, so what you get depends far more on preparation and comparison than on which shop you happen to walk into first. Here's how to sell smart.
Know what you actually have
Before you sell anything, separate your gold by karat. Most Canadian jewelry is stamped 10K, 14K, 18K or 22K, usually on a clasp, the inside of a ring band, or the back of a pendant. Pure gold is 24K, so 14K is roughly 58.3% gold and 10K is 41.7%. Coins and bars are different — a Canadian Gold Maple Leaf is 24K (.9999 fine) and trades on its gold content plus a small premium, not as scrap.
Weigh it and check the spot price
Gold is priced per gram or per troy ounce (31.1 grams). Weigh your items on a scale that reads to a tenth of a gram, then check the live spot price of gold in Canadian dollars — it moves every minute the markets are open. Your scrap value is roughly: weight in grams × gold purity × current price per gram. That number is your ceiling; every buyer works down from it to cover refining and margin.
Understand who pays what
A dedicated gold buyer or refiner usually pays the most for scrap because they process volume. Coin and bullion dealers pay closest to spot for recognized coins and bars. Pawn shops are convenient and fast but typically pay the least, since they price for quick resale. Jewelers vary — some buy back pieces they can resell rather than melt, which can beat scrap value for designer or antique items.
Always get more than one offer
This is the single biggest factor in what you walk away with. Offers on the same item can differ by 20–40% between shops. Get at least two or three quotes, and ask each buyer to show their price per gram by karat so you can compare like for like. A reputable dealer will weigh your gold in front of you and explain their math without pressure.
Watch for the common traps
Be wary of buyers who weigh everything together at the lowest karat, quote a single lump sum without breaking down weight and purity, or pressure you to decide on the spot. Test-and-photograph your pieces before handing them over, keep higher-value coins and bars separate from scrap, and never mail gold without insurance and tracking. If an offer sounds far above everyone else, ask how they make money on it.
Use the directory to shortlist
Browse gold buyers by your province and city, filter by the type of buyer you want — gold buyer, coin dealer, bullion dealer, pawn shop or jeweler — and check ratings before you visit. Lining up two or three nearby shops in advance makes it easy to compare offers the same afternoon.