Sell Scrap Gold in Phoenix, AZ – Get Top Dollar for Your Gold Scrap Jewelry

Looking to sell scrap gold in Phoenix and turn old jewelry into instant cash? You’re in the right place. Phoenix-area residents can sell gold scrap jewelry – from broken chains and rings to coins and bullion – for competitive prices at local buyer Gold King Bullion.

As Arizona’s trusted gold dealer with locations in Phoenix and surrounding areas, we specialize in in-person, same-day transactions. Forget mail-in programs or far-off refiners – at Gold King Bullion you get a transparent assessment and cash on the spot. This comprehensive guide will show you where to sell scrap gold, how it’s valued, and why choosing a reputable local buyer ensures you get top dollar for your scrap gold while avoiding scams and hassles.

Gold King Bullion is a locally owned Arizona bullion dealer (with nearly 20 years in the business) that focuses exclusively on gold and silver. We don’t deal in collectibles like gemstones or watches – our expertise is in the precious metal content of your items. With advanced testing equipment, licensed scales, and up-to-date pricing, we make selling scrap gold safe, easy, and profitable. 

Why Sell Scrap Gold Now? 

Selling your scrap gold now can be a smart move – especially given the current market. Gold prices have surged to near all-time highs, meaning that broken or unused gold items are worth more today than ever. According to The Economic Times, in October 2025, gold continues to break all-time high records, when it comes to its monetary value.  These are the highest gold prices since 1979, and is steadily rising and has broke records over 40 times this year..  

Another reason to sell now is strong demand and recycling trends. The global gold market is hungry for supply, and much of it comes from recycled gold. In fact, the World Gold Council notes that recycled (scrap) gold volumes have been rising year-over-year. With gold demand at multi-year highs, buyers are eager to purchase scrap gold to refine and reuse. This trend benefits you as a seller – scrap gold is more liquid and easier to sell when demand is high.

Finally, converting scrap gold to cash helps both your wallet and the environment. By selling scrap gold, you’re helping recycle precious metal rather than requiring new mining. The global scrap metal recycling market was valued at over $300 billion in 2024 and is projected to double by 2034.

Recycling gold uses far less energy than mining new gold, so you’re doing good for the planet while getting paid. It’s truly a win-win: you cash in on high gold prices and contribute to a sustainable circular economy.

In summary, 2025 is an excellent time to sell scrap gold in Phoenix. You can take advantage of record-high prices, high buyer demand, and quick local sales to lock in a great deal. Gold King Bullion’s live pricing, reflects these market highs, ensuring you get a fair payout. Don’t wait for prices to dip – if you have gold collecting dust, now is the time to turn that scrap gold into useful cash.

What Counts as Scrap Gold? 

“Scrap gold” refers to any gold items that are no longer wanted in their current form and are sold mainly for their gold content. This can include broken jewelry, outdated or unwanted pieces, mismatched earrings, old rings, gold chains, dental gold, or even gold from electronics. Essentially, if it’s gold and you’re willing to part with it for its material value rather than any sentimental or collectible value, it’s considered scrap gold. For example, a Cuban link chain that’s out of style or a damaged gold bracelet would typically be sold as scrap for its melt value.

Scrap gold comes in many forms:

• Gold Jewelry – The most common scrap gold source. This includes rings, necklaces, bracelets, earrings, pendants, and chains. Even luxury styles like Cuban Link chains (known for their interlocking, oval links and substantial weight 6ixice.com) can be sold as scrap if you no longer wear them. Broken clasps, kinked chains, or single earrings without a pair are classic scrap items. You can even sell scrap gold in Phoenix for cash easily with Gold King Bullion’s assessment process – we pay based on the item’s gold weight and karat, not its condition.

• Gold Coins and Bullion – Gold coins (like American Eagles and Krugerrand) or small gold bars might be sold as scrap if they are common or damaged. However, bullion coins often fetch prices close to market value (some coins can even have collector premiums). Gold King Bullion buys gold coins at their precious metal content value. (For coin collectors, see our guide on local gold dealers in Phoenix for more info on selling rare coins versus scrap.)

• Dental Gold – Gold crowns, bridges, or other dental work often contain high-purity gold. Dental gold usually ends up as scrap because it’s not usable in its current form. Don’t forget about that old crown or filling – it contains gold that can be melted down.

• Gold from Electronics – Electronics such as computer circuit boards, CPUs, and connectors have small quantities of gold plating. This “e-waste” gold can be recycled. If you have a substantial amount (from computer scrap, for instance), it can be sold as scrap gold. Keep in mind that extracting gold from electronics involves refining; local buyers may buy certain high-grade electronic scrap or refer you to a specialized recycler.

• Other Gold Items – Any odd gold items like gold watch cases (without the movement), gold wire, nuggets, or even medals and awards made of gold can count as scrap if sold for melt value. (Note: Gold King Bullion focuses exclusively on gold and silver. We do not purchase precious stones or non-gold items. If your jewelry has diamonds or gems, you may remove them before sale or we’ll return them to you, since our offer will be based on the gold content alone.)

The value of scrap gold is determined by its pure gold content. Gold jewelry and items are typically alloyed with other metals, so their purity is measured in karats (K). 

Understanding what qualifies as scrap gold helps set your expectations. If an item has strong sentimental or resale value as jewelry, you might get more selling it as a piece (to a jeweler or private buyer) rather than for scrap. But if it’s broken or undesirable, selling as scrap gold is often the best and easiest route to get cash. Gold King Bullion will evaluate any gold or silver item you bring in and determine if it’s bought for scrap (melt value) or as a bullion/coin product. In either case, you’ll get a fair offer based on the gold content. 

How Much Is Your Scrap Gold Worth?

To calculate what your scrap gold is worth, you need to consider two main factors: the purity of the gold (karat) and the current gold price. Essentially, you’re paid for the weight of pure gold you’re selling, and that’s calculated by weight × purity × market price, minus any buyer margin or fees.

1. Current Gold Spot Price: The spot price of gold is the market price for one troy ounce of pure gold at any given moment. (A troy ounce is ~31.1 grams, the standard unit for precious metals.) This price fluctuates constantly based on global supply and demand. As Investopedia defines, “the spot price is the current market value of an asset (like gold) available for immediate delivery” investopedia.com. You can find the live gold price on financial news sites or resources like Kitco garfieldrefining.com.

Gold King Bullion also provides live updates – our Buy/Sell Prices page shows current gold rates we pay for various purities. The spot price is typically quoted per ounce; we convert it to per gram or pennyweight to price jewelry. When gold prices are high (as they are now), the baseline for your scrap value is higher.

2. Gold Purity (Karat): As mentioned, the karat rating tells us what portion of an item is gold. 24K is pure gold, mostly seen in bullion coins or certain jewelry. 14K and 18K are common for jewelry – for instance, 14K is about 58.3% gold. So if you have 10 grams of 14K scrap, it contains about 5.83 grams of pure gold (10 g × 58.3%). Buyers will often do this math to figure the exact gold weight in your items. Higher karat items (22K, 18K) have more gold per gram and thus yield higher offers per weight than lower karat pieces. (Pro tip: Look for stamps like 10K, 14K, 18K on your jewelry – this gives a quick idea of purity. If unmarked or you’re unsure, our staff will test it for you.)

3. Weight of Gold: Obviously, the more your items weigh, the more total gold you have. Scrap gold is weighed in grams or pennyweights (1 pennyweight = 1.555 grams) at most jewelry and pawn scales. We use certified, calibrated scales for accuracy. Every gram of pure gold in your items will fetch a portion of the spot price. Example: If gold is $60 per gram (roughly ~$1,866/oz) and you have 10 grams of pure gold, that’s $600 in pure gold value. If those 10 grams are in 14K jewelry, remember only 58% is gold – so pure gold content ~5.8g, which at $60/g equals about $350 gross value. This is why knowing purity is key to understanding your offer.

4. Buyer’s Payout Percentage: No gold buyer can pay 100% of the spot price – they need a margin to cover refining costs and profit. Reputable gold buyers in Phoenix will pay a high percentage of the gold content’s value (often in the range of ~70% to 90% of spot, depending on item and quantity). All businesses that buy gold will offer somewhat less than spot because of these costs diamonds.pro. For small quantities of scrap gold (a few rings, etc.), expect offers a bit lower per gram than if you were selling, say, a large bar of pure gold. That said, better buyers keep margins small. At Gold King Bullion, for example, our payouts are based on current spot price minus a modest margin – we publish our prices openly and explain our calculations. According to one industry guide, businesses have expenses and refining costs, so the amount you receive will be the spot price minus the buyer’s fee diamonds.pro. Always ask what percentage of spot you’re being offered. If someone is offering only 50% of melt value, that’s very low. Many Phoenix gold buyers pay in the ~70-80% range for typical scrap, while some very competitive dealers (like Gold King) may pay closer to ~90% for larger amounts or higher-purity items. In fact, at reputable local coin shops in large metro areas, it’s reported you might get around 90–96% of melt value for gold scrap forum.kitco.com – those are top-tier rates usually for bulk or very pure items. The key is transparency: know the market price and do the math.

A calibrated scale and knowledge of the current gold price are essential for determining scrap gold value. Even small gold bars or coins are weighed and evaluated on the spot.investopedia.comcbsnews.com

Bottom line: to estimate your scrap gold’s worth, check the live gold price, determine your item’s karat (purity), and calculate the gold weight. You can use an online gold value calculator or do a quick computation: Gold Content Weight (in ounces) × Spot Price × Purity = Approximate Value. (Example: 0.25 troy oz of 14K gold × $1,950/oz × 0.583 ≈ $284.) Remember that the dealer will pay a bit less than that market value. If you want a ballpark before selling, feel free to call Gold King Bullion or use our in-house Gold Value Calculator to gauge the price. Being informed of your scrap gold’s value will empower you to get a fair deal.

Where to Sell Scrap Gold in Phoenix (Local Options)

When it comes to where to sell scrap gold, Phoenix offers several avenues – but they’re not all equal. Your main options include local gold buyers (bullion dealers), jewelry stores, pawn shops, mail-in services, or even refineries. Here we break down each, so you can decide the best route for your needs. Spoiler: We believe selling in-person to a specialized gold buyer is the optimal choice for most, combining a high payout with immediate payment.

Bullion Dealers vs. Other Buyers

Precious Metals Dealers (Bullion Buyers): A bullion dealer or coin shop that specializes in precious metals is often the best place to sell scrap gold. These businesses (like Gold King Bullion) deal with gold daily, have up-to-date pricing, and typically pay higher percentages of spot price. Because their business model is to accumulate gold and resell it into the market (or to refiners) at small margins, they tend to offer more cash per gram than other outlets goldkingbullion.com. A professional gold buyer will test your items’ purity in front of you, weigh them, and make an offer based on the current spot price minus a transparent margin. They often even post their buy rates publicly. For example, Gold King Bullion posts live spot-based prices and uses advanced XRF testing at all locations, so you know you’re getting an accurate assessment and a top-dollar offer. Specialized dealers treat a scrap gold sale as a financial transaction (valuing the raw metal) rather than a pawn sale. The result is usually more money in your pocket.

Jewelry Stores: Some jewelry stores in Phoenix will buy gold jewelry for scrap, especially higher-end stores or those that advertise “we buy gold.” A reputable jeweler can assess karat and weight, similar to a bullion dealer. However, jewelry stores might not always pay as high because their core business is selling new jewelry – they may buy scrap as a courtesy or source of metal but not as aggressively. Many jewelers only pay for the gold content and may even deduct refining fees if they send it out. It’s also common that a jeweler might offer you store credit (more than cash value) to put toward a new purchase. While that can be useful if you plan to buy something from them, it’s not cash in hand. If you go to a jewelry store, ensure they explain their pricing formula. Some might show you a high “per ounce” price on a sign, but then have hidden deductions. Always ask: “What net price per gram/ounce are you paying after any fees?” If it’s not close to the current market value for the purity, you might do better elsewhere.

Pawn Shops: Pawn shops are abundant around Phoenix, and most will buy gold items. The advantage is that pawn shops offer fast cash without much formality – you walk in with an item and walk out with money. However, pawn shops typically pay lower rates for gold. It’s not uncommon for pawn offers to be 20–30% below the spot value of the gold. Why so low? Pawn shops deal in all kinds of merchandise and often aim for a higher profit margin due to the risk of reselling goods. They may also base offers on resale value if the item could be sold as jewelry in the shop, but for broken pieces they’ll think in melt value and usually err on the low side. If you need cash immediately and have no other options, a pawn shop will do – just understand you sacrifice some value for the convenience. It’s wise to shop around to a couple pawn brokers since offers can vary. But generally, if you can make it to a dedicated gold buyer, you’ll get more for your scrap.

Mail-In Gold Buyers (Online): You’ve probably seen the commercials and ads – “Mail us your gold in a prepaid envelope and get cash fast!” These online gold-buying services promise convenience by letting you sell from home. In practice, mail-in gold buying has drawbacks. First, it’s slower (you have to ship your items, wait for evaluation, then get paid). Second, many mail-in companies historically offered very low payouts – sometimes shockingly low, on the order of pennies on the dollar – hoping customers won’t bother to ask for their gold back. Some of the well-known mail-in services spend millions on marketing but then pay far less than local shops. While there are reputable ones out there, hidden fees for insurance or refining can chip away at your total gold. If you do consider an online buyer, research their reviews and policies carefully. In general, many sellers end up feeling more comfortable dealing face-to-face with a local buyer where they can see the process and get paid on the spot. Kathy Kristof, a personal finance expert, noted that the key is “aiming to get a price as close to the current spot price as possible” when selling, and some online platforms might not match what a savvy local buyer will pay cbsnews.com. Always compare any mail-in quote with local offers – often you’ll find local dealers in Phoenix can match or beat them once you account for shipping hassles.

Refineries: What about selling directly to a gold refinery? In theory, cutting out middlemen could yield a higher price because refiners melt and purify the gold themselves. Refining companies like Garfield or others will indeed pay high for large lots of gold, and they tout that advantage garfieldrefining.com. However, many refiners only deal with businesses or require a significant amount of material. For example, Kitco (a major metals company) can refine scrap gold but only from licensed businesses – individuals cannot directly sell scrap to Kitco online.kitco.com. Some refineries do buy from the public, but often you’d need to mail your gold to them and possibly meet a minimum weight. If you have a very large quantity of scrap (say, inherited a big estate of jewelry), contacting a refinery could be worth exploring. But for most people with a few ounces or less, a local buyer is simpler. The price difference is not huge if you find a good local dealer. Think of it this way: a top refinery might pay ~95% of gold value, whereas a good local bullion buyer might pay ~85-90%. That small extra cut might be worth avoiding the headaches of shipping and dealing with a remote entity. Plus, local buyers pay you immediately and take on the work of bundling scrap off to refiners later.

In summary, local bullion dealers emerge as the best overall option for selling scrap gold in Phoenix. They combine competitive payouts, transparency, and convenience. Jewelry stores and pawn shops can work in a pinch but usually pay less. Mail-in services are risky and slow by comparison. And direct refinery sales aren’t practical for most individual sellers. It’s no surprise that when Valley residents search online for things like “sell scrap gold near me” or “cash for scrap gold Phoenix”, the businesses that appear (and have the best reviews) are local gold buyers such as Gold King Bullion. We focus on making the experience honest and profitable for you – no gimmicks, just a fair deal.

Avoiding “Cash for Gold” Scams

When selling gold, you should also be aware of common scams or shady practices in the gold buying industry. Unfortunately, wherever money is involved, some bad actors try to take advantage. Here are a few red flags and how to avoid them:

• Bait-and-Switch Pricing: Be cautious of buyers who advertise an extremely high price per gram on signs or websites, only to significantly lower it once you’re in the store. Some less reputable places boast “Top Dollar Paid!” but then find excuses (like false purity claims or hidden fees) to pay much less. Always insist on a breakdown: what is today’s gold price and what percentage of that are you being offered for your karat gold? A trustworthy dealer will gladly show you the math goldkingbullion.com. If someone won’t reveal their calculations or tries to confuse you, walk away.

• Incorrect Karat Testing: One scam is misrepresenting the purity of your gold. For instance, a bad actor might scratch-test your 18K item and falsely claim it’s 14K to justify paying less. Never let your gold out of your sight during testing. A reputable buyer tests your items openly, right in front of you – whether by electronic tester, XRF machine, or acid tests. Gold King Bullion uses a high-tech Thermo Fisher XRF spectrometer (and yes, even the Niton DXL-800 at some locations) to instantly and accurately determine purity, and we do it with you watching. We also use certified scales for weighing. As a result, you know the karat and weight are correctly measured. Lesser shops or unlicensed hobby buyers might rely on quick acid tests and then lie about the results to cheat you goldkingbullion.com. If someone tries to take your jewelry to a back room for testing, stop them. Legitimate buyers test in plain view and explain the results.

• Hidden Fees or Melting Charges: Adding extra fees is not common practice among honest dealers. Always clarify if the price being quoted is what you will net or if anything will be subtracted. At Gold King Bullion, the price we quote is the price you get – no surprise fees. We base it on spot price, weight and purity, period.

• Unlicensed Pop-Up Buyers: Occasionally, you’ll see hotel ballroom events or parking lot buyers advertising cash for gold. Some traveling gold buyers aren’t licensed or bonded; they sweep through town, buy gold cheaply, and disappear.

  • Arizona has laws requiring gold buyers to ID sellers and report transactions (to help prevent theft sales), so any legitimate buyer will ask for your ID and have a permanent business location. Always prefer a licensed, established buyer with a storefront. They have accountability and a reputation to uphold. As a reference, Gold King Bullion is accredited and even recognized by the Phoenix Chamber of Commerce as a premier precious metal dealer. Trust the companies with a long local track record.

• Cash-for-Gold Mail Schemes: Avoid those infamous “gold parties” or envelopes from TV ads that we discussed. The convenience isn’t worth the massive cut they take. Some infomercial buyers were exposed for paying only 10-20% of an item’s true value. By selling locally, you easily avoid this trap.

The good news is, by choosing a reputable Phoenix gold buyer and being a little informed, you’ll easily steer clear of scams. Stick with established gold dealers in Phoenix (those with strong reviews and transparent practices). Do a quick Google and Yelp check on the business name – you’ll quickly see who has good feedback. The Arizona Department of Weights and Measures also certifies scales, and you should see a current certification on the buyer’s scale. 

Phoenix Metro Locations – Sell Scrap Gold Near Me

One of Gold King Bullion’s strengths is our convenience – we have 10 locations valley-wide, but 2 locations in the heart of Phoenix to serve you 7 days a week. You don’t have to drive far or ship your gold off to unknown places; there’s likely a Gold King partner store right in your community where you can safely sell your scrap gold for cash. We operate through partnerships with established local pawn and bullion shops in each area, ensuring professional service backed by Gold King’s pricing and standards.

Phoenix is well-covered with two Gold King Bullion partner locations within the city. Whether you’re in North Phoenix, Central, or South Phoenix, we have you covered. Our North Phoenix location (near 19th Ave and Peoria Ave) has been serving customers for over 25 years and is convenient for those coming from Glendale or Peoria (it’s right by those community boundaries). Another partner shop in Central Phoenix (near 27th Ave and Van Buren) has been buying gold since – a long-running location trusted by the community.

In Phoenix proper, competition among gold buyers is high, but Gold King Bullion stands out by offering top payouts based on spot price and a sterling reputation. Many gold dealers in Phoenix and its suburbs exist, but remember not all specialize in scrap gold or have advanced testing. At our Phoenix shops, we use the Sigma Metalytics analyzer and licensed scales to evaluate your scrap gold accurately and in your presence. Phoenix customers appreciate that they can walk in any day of the week (yes, we’re open 7 days) and get a transparent quote, whether they want to sell scrap gold jewelry or large bullion items. No appointment needed – just stop by with your ID, receipts and gold to turn it into cash on the spot.

 

Why Sell Scrap Gold in Phoenix to Gold King Bullion? 

You have many choices of gold buyers, but Gold King Bullion aims to be the best place to sell scrap gold in Phoenix – and our customers’ satisfaction and reviews reflect that. Here are a few reasons why selling your gold to us is a decision you won’t regret:

• Top Payouts Based on Live Market Rates: We pay some of the highest prices for scrap gold in the Valley. Our payouts are tethered to the live spot price (which we update continuously) with only a minimal margin to cover our costs. In fact, the rates you see on our Buy/Sell Prices page are exactly what we use in store. We don’t lure you with false promises – we deliver real value. Many competitors advertise high, then deduct; we show you the math upfront. Our philosophy is that an informed seller will choose the fairest deal, and we strive to be that deal. Simply put: you get more cash for your gold with us.

• Transparency and Honesty: From testing to weighing to pricing, everything is done openly. We test your gold on-site and in front of you – whether using our state-of-the-art XRF spectrometers or traditional methods. You’ll see the karat results and weight readings yourself. As mentioned earlier, we happily explain our pricing (e.g. “gold is $X per gram today, you have Y grams of 14K which is Z grams pure, and we pay roughly % of that, totaling $_”). This level of openness is not universal among gold buyers, but it’s the standard at Gold King. It’s why we’ve built nearly two decades of trust with Arizona customers. We also adhere strictly to all regulations – recording transactions properly, providing receipts – so you can feel secure.

• Licensed, Professional Service: Each Gold King Bullion partner store is a properly licensed precious metals dealer in Arizona. Our staff are trained professionals who know the gold business inside and out. But beyond expertise, we emphasize courtesy and integrity. You’ll be treated with respect regardless of whether you’re selling a small gold chain or a bag of coins. We understand selling personal items can sometimes be sensitive; our team never judges – our role is to help you convert assets to cash in a comfortable, confidential setting. We also abide by all laws (ID checks, etc.) which protects you as well. Our scale calibrations are up-to-date and inspected by state officials, so you never have to worry about inaccurate weights.

• No Pressure, No Gimmicks: Selling your gold should not feel like a high-pressure sales situation. Our buyers will give you an offer, answer questions, and leave the decision to you. We do not pressure anyone to sell. If you want to think it over or get other quotes, that’s completely fine. This no-pressure policy has earned us many referrals – people appreciate an honest approach. Additionally, we don’t play games with coupons or “new customer only” rates that some places do. Every customer, new or returning, gets our best offer the first time. We’d rather have your trust and repeat business than make a quick buck off you. As our motto goes, “built on honesty, expert guidance, and real value” – we mean it.

• Local and Established: We’re locally owned and operated, not a faceless national chain. When you deal with Gold King Bullion, you’re dealing with a business that is deeply rooted in Arizona’s community. We’ve been in the Valley for almost 20 years, through the highs and lows of gold markets. We’re not disappearing if gold prices drop or when the next trend comes – we’re here for the long haul. This also means we care about our reputation in Phoenix, Scottsdale, Mesa, and all the communities we serve. Our name Gold King Bullion stands for quality service in AZ. We encourage you to check our customer reviews and testimonials. You’ll find consistent praise for fair prices and friendly service – that’s our legacy and we work hard to keep it that way.

• Convenience and Flexibility: With 10 valley-wide locations and extended hours, we make it convenient to do business. We know your time is valuable. You can often be in and out in under 15 minutes with cash in hand (depending on how many items you have). We are open 7 days a week, because we understand that weekdays may be busy for you. Need to sell gold on a Sunday afternoon? We’re open. Additionally, if you have a lot of items or an unusual situation (say, liquidating an estate of jewelry), give us a heads up – we can arrange for a comfortable appraisal session, even potentially a private appointment if needed. Our goal is to accommodate your needs so that selling your scrap gold is as easy as possible.

• Comprehensive Services: Gold King Bullion is not just a gold buyer; we’re a full-service precious metals dealer. Many customers who come to sell scrap gold end up coming back to buy gold or silver from us later (especially if they caught the precious metals investing bug or want to trade scrap for bullion). We have a range of gold and silver bullion products for sale (coins, bars, etc.) at competitive prices. We also provide resources like guides and market info (check our About Us and blog articles). If you’re curious about the gold market or have questions about, say, selling versus pawning or how to test gold at home, our staff is happy to share knowledge. We see every interaction as a chance to build a long-term relationship. Maybe today you sell a little scrap; tomorrow you might buy a gold coin from us, or refer a friend who wants to do the same. We want to be your trusted gold and silver resource for years to come.

In short, we combine the best payouts, expertise, and customer service in one package. That’s the Gold King difference. When you walk into one of our locations, you’re not just another transaction – you’re a valued client who we hope will be a returning customer. We truly appreciate that you’re considering trusting us with your precious items. Our promise is to honor that trust by giving you the fairest deal and a great experience. This commitment has made Gold King Bullion a leading name in Arizona for buying and selling precious metals.

Still on the fence? Feel free to drop by just to get a quote or ask questions. Or contact us through our website or phone – no obligation. We believe once you see how we do business, you’ll choose us for your scrap gold selling needs. Selling gold shouldn’t be complicated or nerve-wracking. With Gold King Bullion, it’s straightforward and secure – exactly how it should be.

Frequently Asked Questions on Selling Scrap Gold

Q: What gold items will Gold King Bullion buy?
A: We purchase almost any item that contains gold or silver. For gold, this includes all karat jewelry (rings, necklaces, bracelets, earrings – even broken or tangled), coins and bullion bars, dental gold, gold nuggets, gold medals, etc. We also buy silver items like sterling jewelry, silver coins, and bullion. The key is the item must have recoverable precious metal. We do not buy costume jewelry or gold-plated base metal (as it has negligible gold). We also don’t deal in gemstones or non-precious-metal watches – if those are attached to your gold item, we can remove and return them to you. In short, if you’re not sure, bring it in and we’ll test it. You might be surprised what turns out to be real gold!

Q: How do I know I’m getting a fair price for my scrap gold?
A: A fair price means you’re getting a competitive percentage of the current market value for the gold content you have. To ensure this, educate yourself on the basics: know the day’s gold spot price (we can show you), know your item’s karat (we’ll determine that), and see how the offer compares. At Gold King, we remove the guesswork by openly showing our pricing formula. We encourage you to compare – our offers are among the highest because we operate on low margins, making it up in volume. Also, check reviews or ratings of gold buyers: an honest dealer with happy customers is less likely to lowball. We take pride that our clients feel confident in the fairness of our deals – many have said “I checked around and Gold King paid the most”. Finally, remember that a fair price for scrap is typically not 100% of spot (no one can pay that and stay in business), but it should be reasonably close after accounting for purity (e.g., 70-90% of melt value depending on item). If someone is offering you very little, that’s not fair – get a second opinion.

Q: Is it better to sell gold as jewelry (for resale) or as scrap?
A: It depends on the item and whether it has resale value above its gold content. If you have a designer or antique piece that could be resold to another consumer or put in a showcase (and you’re willing to find that buyer or dealer), you might get more than melt value. However, the process can be time-consuming – you’d need to find a jewelry buyer or go through consignment. Many used jewelry pieces (especially if outdated, worn, or generic) won’t fetch significantly more than scrap value. Gold buyers like us pay for the metal content because we typically melt it down or resell to refiners. Jewelers sometimes pay a bit more for nice condition items they can resell, but often they still pay near scrap and then mark it up for retail. If you’re looking for the fastest, surest sale, selling for scrap is straightforward. If you suspect your jewelry is worth a premium (maybe it has a big diamond or is from a high-end brand), you could have it appraised or check with a jeweler. Just note that, for example, if we buy a gold ring with a diamond, we pay for the gold only (we’d hand the diamond back or not factor it). A jeweler might pay for the diamond too if it’s quality, so in that scenario selling to a jeweler or private buyer for the piece as a whole could yield more. For most broken or common jewelry, scrap is the way to go – it’s quick and likely the difference in payout isn’t huge compared to the effort of selling as a used jewelry piece.

Q: Do you buy platinum or other precious metals?
A: We sure do. While this guide focuses on gold (and silver to some extent), Gold King Bullion also purchases platinum and palladium items. Many jewelry pieces can be platinum (often marked “Plat” or “950”) and we’ll buy those based on platinum’s spot price (which is different from gold’s price). We also buy platinum coins (like Platinum Eagles) or bars. Palladium is less common but we’re interested if you have it in coin or bar form. We do not buy base metals or non-precious metals. If you have something like a platinum ring with a diamond, again we’d focus on the metal (platinum) and suggest you remove the diamond or we return it to you after scrapping the metal. Additionally, we purchase silver scrap – such as sterling silver flatware sets, tea sets, or jewelry – by weight for melt. So if you’re cleaning out items and have other precious metal pieces, bring them along too! We are a one-stop shop for precious metals buying.

Q: Can I sell gold coins or bullion at your locations?
A: Absolutely. We specialize not just in scrap jewelry but also in coins, bars, and bullion. If you have gold coins (U.S. Eagles, Canadian Maple Leafs, South African Krugerrands, etc.) or gold bars from mints, we will buy them. Typically, pure gold coins (22K or 24K) will fetch around the current spot price (sometimes a bit below or above depending on the coin’s market). Unlike scrap gold, bullion often has less of a discount because it’s already pure and ready to resell to investors. We often pay very competitively for gold and silver bullion – in some cases, near 95% or more of spot, or even at spot for very in-demand pieces. Note: If a coin has collector (numismatic) value significantly above its gold value, we might assess it differently or advise you if it’s something rare. But for common bullion coins, expect an offer close to melt value. This is much better than what a pawn shop would do for coins (they often pay only for gold content and don’t account for coin premiums). We also post our buy prices for popular coins on our site (see Buy/Sell Prices). So yes, bring in those coins and bars – you’ll get a fair deal. And as always, bring ID (for large sales, >$10k, we may need a social or EIN for IRS 8300 form compliance – just a standard requirement when selling a lot of bullion).

Q: Will selling my gold be reported or taxed?
A: This is a common concern. When you sell scrap gold or personal jewelry, in most cases it is considered a private personal sale. There is no sales tax on selling your gold to a dealer; and we do not automatically report transactions to the IRS unless they exceed certain thresholds or fall under specific categories that require it. For instance, cash payments over $10,000 (aggregate) may trigger a federal cash transaction report (CTR) for anti-money laundering purposes – this is just a form verifying the transaction, not a tax event. Also, if you sell certain amounts of specific coins or bars in one transaction, it could trigger a 1099-B form from the dealer to the IRS (this is more for investment bullion sales; for example, 25+ $1,000 face of 90% silver or 1kg gold bar sales). Typical scrap jewelry sales generally do not require a 1099 form. That said, if you are selling gold at a profit (say you bought it and it went up in value), technically that’s a capital gain which should be reported on your taxes. Many people selling inherited or old jewelry won’t owe taxes because either it’s personal property sold at a loss (or unchanged value) or under exemptions. Gold King Bullion is not obligated to report your jewelry sales to IRS beyond the mentioned scenarios. We do keep records as required by law (for law enforcement, etc.), which are not public. If you have a unique tax situation, it’s best to consult a tax professional. But for the average person selling some old gold, there’s usually no tax paperwork involved on our end. Rest assured, we respect your privacy. Transactions are confidential between us and you, and any reporting we do for legal reasons is handled securely.

Q: What if I change my mind after selling?
A: Generally, once the sale is completed and you’ve been paid, the transaction is final. We send items off to processing pretty quickly (sometimes same-day to our vault or refiner), so we may not have them available to return. That’s why we ensure you’re certain before you sign off and take payment. In pawn transactions (loans), you have a grace period to reclaim items, but in a straight sale, you do not. However, if you have seller’s remorse and it’s very soon after, contact us and we’ll see what can be done. If the gold hasn’t been melted or sold onward, we might be able to work something out (you’d need to return the exact amount paid, of course). But this is case-by-case and not guaranteed. Thus, we encourage thoughtful consideration before selling. Once you sell gold for scrap, assume it’s gone for good – because it likely will be melted and recycled. The positive flip side: once you have that cash, it’s yours for good too! You can always use it to buy new jewelry or bullion in the future if you wish.

Q: Do you offer trade-in or can I buy gold from you with the proceeds?
A: Yes! Many customers sell us scrap gold and then immediately use the proceeds (or part of them) to buy investment-grade gold or silver from us. For example, you might sell some old 14K jewelry and use the money to purchase a 1 oz gold coin or a few silver bars. We can certainly facilitate that in one visit. In essence, you’d be doing two transactions: selling your items for cash, then buying whatever product you want at our posted prices. Sometimes we can even offer a better deal if it’s a same-time trade scenario (for instance, waiving a small part of the premium on what you buy) – ask us about current promotions. We have a diverse inventory of bullion coins (like Gold Eagles, Buffaloes, Maples), bars of various sizes, as well as silver coins and bars. If you’re cashing out scrap gold but still want to keep your assets in precious metals (just in a more liquid form), this is a great strategy. Think of it like upgrading the form of your wealth. Check our article on Buy Gold in Phoenix for a deeper dive into purchasing bullion. We’re happy to be your dealer on both sides of the transaction!

Have other questions? Feel free to reach out to us via phone or through the About Us page. We’re here to help demystify the process of selling gold.

Ready to Sell? Turn Your Scrap Gold into Cash Today

Selling scrap gold in Phoenix has never been easier or more rewarding. Whether you have a handful of old jewelry or a heavier stash of gold scrap, Gold King Bullion offers a seamless, secure way to get paid top dollar. We hope this guide has empowered you with knowledge – from understanding scrap gold value to choosing the right buyer – so you can move forward with confidence. Our goal is not just to make a one-time transaction, but to earn your trust as a valued client for the long run.

If you’re ready to sell scrap gold, here’s a quick recap of why Gold King Bullion should be your first stop: we pay highly competitive prices based on real-time market rates, we provide transparent testing and pricing, and we have convenient local stores across the Phoenix metro area (Phoenix, Scottsdale, Mesa, Tempe, Chandler, Avondale, Glendale, Peoria). There’s no need to search endlessly for “sell gold scrap near me” and worry about who’s reliable – Gold King is a proven, established option with nearly 20 years in Arizona. We operate 7 days a week, so turning your gold into cash can happen on your schedule.

Take the next step: Gather up those items you no longer need and bring them to your nearest Gold King Bullion location. Our friendly staff will offer a free evaluation and quote – you’re under no obligation until you’re ready to sell. If you need guidance on finding us, check our locations page or give us a call. And if you’re outside the listed areas, still get in touch – with our network of stores and partners, we might be able to assist or advise you.

Don’t let valuable gold gather dust in a drawer. The market is strong, the selling process is simple, and the payoff can be significant. Turn that “junk” jewelry or scrap into useful money with a transaction that’s quick, safe, and satisfying. Gold King Bullion is here to ensure you get every penny you deserve for your gold – with no gimmicks and no worries.

Ready to make a deal? Visit us today and experience why Arizonans consistently choose Gold King when it comes time to sell scrap gold. We look forward to serving you and giving you the best gold-selling experience in Phoenix!

Sell your scrap gold with confidence at Gold King Bullion – Phoenix’s trusted gold buyer where honest service and top payouts are guaranteed.