# Where to sell my gold ingot

**URL:** <https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237>\
**Category:** Factual Questions\
**Created:** [December 14, 2009, 5:27pm UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237 "2009-12-14T17:27:47Z")\
**Posts on this page:** 7\
**Page:** 1

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**Author:** ![fandango](https://avatars.discourse-cdn.com/v4/letter/f/b5ac83/32.png) [@fandango](https://boards.straightdope.com/u/fandango)\
**Post date:** [December 14, 2009, 5:27pm UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/1 "2009-12-14T17:27:47Z")

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I have a 1 troy ounce gold ingot and I want to sell it. I just checked the spot price and it is $1124. I want that much. Will most coin dealers pay spot price for the gold? Or can I only get that price if I am at a gold buying market?

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**Author:** ![Roderick\_Femm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/roderick_femm/32/14875_2.png) [@Roderick\_Femm](https://boards.straightdope.com/u/Roderick_Femm)\
**Post date:** [December 14, 2009, 5:32pm UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/2 "2009-12-14T17:32:34Z")

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Most coin dealers that I know of will charge spot price, but will pay a little less (that’s where their profit is). It’s like the foreign exchange rate - you always pay a higher rate for foreign currency than you get when changing it back to your country’s currency.  
Roddy

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**Author:** ![JSexton](https://avatars.discourse-cdn.com/v4/letter/j/96bed5/32.png) [@JSexton](https://boards.straightdope.com/u/JSexton)\
**Post date:** [December 14, 2009, 5:48pm UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/3 "2009-12-14T17:48:44Z")

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Even at a market, you’ll probably be paying a broker a commission. It’s not like there’s a literal market where people show up with ingots.

I drive past a pawn shop every day that posts their updated gold buying price on a reader board, which seems to be very close to the daily price on websites. It was 1114 today, I think.

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**Author:** ![IAmNotSpartacus](https://avatars.discourse-cdn.com/v4/letter/i/cc9497/32.png) [@IAmNotSpartacus](https://boards.straightdope.com/u/IAmNotSpartacus)\
**Post date:** [December 14, 2009, 5:51pm UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/4 "2009-12-14T17:51:30Z")

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Paging **samclem**.

I was under the impression that dealers would charge a premium (generally 10-15%) over spot price if you were purchasing gold. I was also under the impression that they’d pay spot price for incoming purchases.

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**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\
**Post date:** [December 15, 2009, 12:43am UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/5 "2009-12-15T00:43:36Z")

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If you were in the Northern Ohio area today, using gold at $1125/ounce US, we would buy a one ounce gold ingot from you at about $10 under “spot.” We’d pay $1115. Depending on where you live, you might find a coin dealer paying in the same range, but more likely you’ll find one paying $1075 or so. The small dealers have to pay less, so they can sell them to the next bigger fish.

We’d sell you a one ouncer today for about “spot + $50.” So, about $1175 US

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**Author:** ![fandango](https://avatars.discourse-cdn.com/v4/letter/f/b5ac83/32.png) [@fandango](https://boards.straightdope.com/u/fandango)\
**Post date:** [December 15, 2009, 1:39am UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/6 "2009-12-15T01:39:12Z")

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Thanks! This helps.

I’m in Portland, Oregon, so I should be able to find a bigger dealer an not have to deal with the small fry.

Now, how much should I expect to get from my 40%-silver halves (1964-1970)?

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**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\
**Post date:** [December 15, 2009, 1:40am UTC](https://boards.straightdope.com/t/where-to-sell-my-gold-ingot/521237/7 "2009-12-15T01:40:45Z")

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> [@fandango](#):
>
> Now, how much should I expect to get from my 40%-silver halves (1964-1970)?

$2.10 each