Dealer Guide
Gold Dealer Buyback Programs Compared
Your exit strategy matters as much as your entry. We compare the buyback programs of major online precious metals dealers so you know exactly how to sell when the time comes.
How Buybacks Work
How Dealer Buyback Programs Work
Most major online precious metals dealers offer buyback programs that let you sell your gold, silver, platinum, and palladium back to them. The process is straightforward, but understanding the mechanics helps you get a better price.
The Bid Price
Dealers publish a bid price for each product—the price they're willing to pay to buy it from you. The bid is typically a percentage below the current spot price. The difference between the spot price and the bid price is the dealer's buyback spread.
Locking Your Price
Once you agree to sell, the dealer locks in your price for a set period (usually 24–48 hours) while you ship your metals. This protects you from price drops during transit. Some dealers lock the price at the time of your phone call; others lock when you complete an online sell order.
Shipping & Verification
You ship your metals to the dealer via insured, tracked mail. The dealer inspects and verifies the items upon receipt. If everything checks out, payment is issued within 1–3 business days by check or wire transfer.
Dealer Comparison
Buyback Policies by Dealer
The following comparison covers the buyback programs of major online dealers. Policies and spreads vary by product and market conditions.
| Dealer | Buyback Available | Price Lock | Payment Methods |
|---|---|---|---|
| APMEX | Yes | Phone or online | Check, Wire |
| JM Bullion | Yes | Phone or online | Check, Wire |
| SD Bullion | Yes | Phone or online | Check, Wire |
| Hero Bullion | Yes | Phone | Check, Wire |
| Monument Metals | Yes | Phone | Check, Wire |
Buyback policies are subject to change. Contact each dealer directly for current bid prices and terms.
Tips
Tips for Getting the Best Buyback Price
- Get multiple quotes — Buyback spreads vary between dealers. Call or submit sell requests to 2–3 dealers and compare offers before committing.
- Sell recognized products — Government-minted coins (American Eagles, Canadian Maple Leafs) and well-known brand bars (PAMP, Valcambi) command higher buyback prices than generic or obscure products.
- Keep original packaging — Coins in original mint tubes and bars with assay certificates are easier to verify and may fetch slightly higher prices.
- Time your sale — Buyback prices track spot, so selling when the market is up means a higher dollar amount. However, the spread percentage stays roughly the same regardless of price level.
- Consider selling locally — Local coin shops eliminate shipping risk and may offer competitive prices, especially for smaller quantities. The trade-off is a potentially smaller selection of buyers.
- Understand tax implications — Profits from selling precious metals are subject to capital gains tax. Keep records of your purchase price and date for tax reporting purposes.
When evaluating the full cost of ownership, also compare dealer premiums on the buy side and shipping policies. For head-to-head dealer matchups, see APMEX vs JM Bullion. Browse all dealer reviews for detailed ratings.
Common Questions
Frequently Asked Questions
Do I have to sell gold back to the same dealer I bought from?
No. You can sell your gold to any dealer that offers a buyback program, regardless of where you originally purchased it. In fact, getting quotes from multiple dealers is recommended to ensure you receive the best price.
How much do gold dealers pay when buying back gold?
Most dealers pay somewhere between 95–99% of the current spot price for standard bullion products, depending on the item and market conditions. Government-minted coins and popular products typically fetch higher buyback prices than generic bars or rounds.
How does the buyback process work?
You request a quote from the dealer (online or by phone), lock in a price, then ship your metals to the dealer via insured mail. Once the dealer receives and verifies your shipment, payment is issued by check or wire transfer, typically within 1–3 business days.
Is it better to sell gold to a dealer or on a marketplace?
Selling to a dealer is faster, simpler, and safer, but you'll get a slightly lower price. Selling on a peer-to-peer marketplace or auction site may net a higher price, but involves more risk, effort, and time. For most investors, dealer buyback programs offer the best balance of convenience and fair pricing.
Compare All Reviewed Dealers
Read our full dealer reviews with detailed ratings for pricing, shipping, customer service, and buyback programs.
View Dealer Reviews