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Step 1
Gather together the gold and silver you want to sell. Separate them by type: gold and silver coins will have the most value; gold and silver bullion in the shape of rounds or bars are next; gold and silver scrap in the form of nuggets, jewelry, flatware and other items will get the lowest price.
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Step 2
Figure out the purity of each item. Most of their value will be in the actual gold and silver content. A 1-oz. gold or silver coin will contain 1 oz. of the metal. The same is true of bullion. However, the gold content of jewelry varies: 10K gold is only about 40 percent gold; 14K gold is a little more than half gold; 18K gold is about 75 percent gold; most silver jewelry is 99 percent silver.
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Step 3
Find the current spot price of gold and silver. The metals change in value every day. You can find their prices in any newspaper financial section or with a quick Internet search (see Resources below). The spot prices are stated in dollars per ounce. You will notice that gold is much more valuable than silver. Multiply the number of ounces of each metal you are selling by the spot price of the metal. This will give you an approximate value of your gold and silver.
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Step 4
Sell high quality gold and silver coins and bullion for more than the spot price. Coins and some bullion are sold at a premium because of their numismatic and artistic qualities. Sell them to coin dealers or directly to collectors through Internet auction sites like eBay. Research the type, year, mint mark and condition of each coin to determine their market value. Expect to get about 5 percent above the spot price of silver and gold for high quality bullion. Coins can be worth significantly more.
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Step 5
Sell gold and silver scrap to a scrap metal buyer. There are many doing business on the Internet (see Resources below). They will send you a mailing envelope so you can securely deliver your gold and silver to them (make sure to insure all shipments). They will examine your package and offer you a price. Expect 90 to 95 percent of the spot price after fees. If you agree to the offer, they will send you a check; if you don't, they will return your items to you.
