-
Step 1
Check the current spot price of gold bullion on the world market. This will enable you to estimate the price you will get. When you sell the gold you have mined, you will receive a price discounted from the spot price. This is because your gold is in its natural state, and buyers have to cover their costs for refining. See the links in the Resources section for assistance with this endeavor.
-
Step 2
Take your gold to an assay service. Assaying is a chemical test used to verify that what you have is real gold and to measure its purity. Assaying is necessary to determine the value of the gold. Manny assay services also buy and refine raw gold. If the service you choose is one of these, you can have the assay done and sell the gold you have mined in a single stop.
-
Step 3
Locate a buyer if you don't sell the gold you have mined at the same place you have it assayed. There are several ways to do this. One is to sell your gold to an online buyer. Most people prefer to deal directly with a local buyer. You can get a referral to reputable local buyers through prospector's clubs or businesses that market equipment and supplies to prospectors.
-
Step 4
Consider selling the gold you have mined to a dealer in jewelry and collectibles. Raw gold is popular for use in jewelry, and you may be able to get a better price than a refiner can offer. Local merchants who buy and sell gold jewelry and bullion can usually refer you to a buyer. Another way to locate buyers is through your state Bureau of Land Management (the agency that oversees mining in a state).
-
Step 5
Shop around for the best price. Once you've sold your gold, be sure to keep the bill of sale and other documents for tax purposes. Keep receipts for your prospecting and mining expenses as well, since these may be tax deductible.
