After completing GoldSilver.com’s straightforward sellback process and locking in your sellback price, we will send payment directly to you by check or via electronic transfer to your bank account or IRA.
Below is a clear summary of payment methods for sellbacks and important notes about practices and requirements.
When selling gold or silver, focus on three main considerations:
Price – Companies vary widely in what they will pay for gold, silver and other precious metals. To evaluate offers, be sure you understand:
- The precise weight and purity of your metals. In the U.S. and Europe this is generally measured in troy ounces (not standard ounces); in many other countries grams are used. Knowing weight and purity lets you calculate the metal’s value at current spot prices and compare offers accurately.
- Whether your items carry collectible or numismatic value beyond their metal content, such as rare coins or jewelry valued for design and craftsmanship rather than metal weight.
GoldSilver.com deals exclusively in bullion, not collectibles. We aim to offer the highest competitive prices for bullion sales, often only a small fraction below—or, in some cases, above—spot depending on the product. We quote the price up front before any sale. You provide a list of items you intend to sell, lock in your price, ship the metals to us, and receive payment. This transparent approach lets you compare prices privately and secure the best deal.
Security
Transport and ship precious metals securely and discreetly. If you mail items to a dealer like GoldSilver.com, package them securely at home rather than carrying them to a public drop-off point, and insure the shipment for its full declared value. The shipment remains your responsibility until it reaches the dealer’s processing center, so proper packaging and insurance are essential.
If you sell locally to a coin shop or a traveling buyer, be mindful that local awareness of your ownership may increase. Keep items concealed during transit, remain alert for suspicious activity around vehicles or shops, and prioritize general physical safety. While the added risk is typically small, taking basic precautions reduces exposure to theft or unwanted attention.
Dealer trust
Trust and documentation are crucial. Avoid dealers who refuse to provide a written receipt for the transaction or who claim they do not report sales to the IRS (for U.S. customers) or to the relevant tax authorities in your jurisdiction. Phrases like “we pay cash and we’re discreet” are red flags.
Although precious metals can operate outside conventional banking systems, some transactions must be reported and may be subject to taxes or capital gains rules depending on your situation. Failing to report a required sale—or working with a dealer who fails to document transactions—can lead to future tax audits, penalties, or legal consequences. For your protection, choose dealers who document sales, provide clear receipts, and are transparent about reporting obligations and tax implications.
By understanding price, taking sensible security measures, and working only with reputable, documented dealers, you can sell bullion with confidence and receive timely payment through secure methods such as check or electronic transfer to your bank account or IRA.