Last Updated: January 13, 2026
Have you ever wondered if that broken gold necklace, outdated jewelry, or inherited gold pieces gathering dust in your drawer could turn into immediate cash? In San Francisco, CA—a city built on gold rush legacy—selling gold scrap has evolved from the chaotic dust-trading of the 1850s into a sophisticated, regulated market where knowing the right approach can mean the difference between pennies and premium payouts.
Whether you’re liquidating inherited jewelry from a Pacific Heights estate or cashing in dental gold, understanding how to navigate San Francisco’s diverse buyer landscape ensures you get fair market value. This guide walks you through the entire process—from understanding what qualifies as scrap gold to choosing reputable buyers in neighborhoods like the Financial District and beyond.
Quick Answer: Selling Gold Scrap in San Francisco, CA
To sell gold scrap in San Francisco, first sort items by karat, get them professionally tested at multiple reputable buyers in areas like Union Square or the Mission District, compare cash offers based on current spot price, and complete the sale with a licensed dealer who provides transparent weight calculations and payment documentation.
Key Takeaways:
- Gold scrap includes broken jewelry, dental gold, gold coins with no numismatic value, and watch components
- Professional XRF testing reveals exact gold content and purity levels
- Obtain quotes from 3-5 buyers to ensure competitive pricing
- Legitimate buyers calculate offers based on weight, purity, and current spot gold price
- San Francisco buyers include specialized dealers, pawn shops, and refining companies
Understanding What Qualifies as Gold Scrap
Gold scrap encompasses any gold item valued primarily for its metal content rather than artistic or collectible merit. When you’re looking to sell coins in San Francisco, understanding the distinction between scrap gold and collectible pieces becomes crucial—a damaged gold coin may be worth more as scrap than its numismatic value suggests.
Common Types of Gold Scrap
The most frequent gold scrap items include broken chains, single earrings, outdated class rings, and bent gold bracelets. Dental gold—crowns, bridges, and fillings—represents another significant category, typically composed of gold alloys mixed with palladium or silver. Gold-filled watch cases, damaged gold frames from eyeglasses, and gold-plated items (though these contain minimal actual gold) also fall into the scrap category.
We’ve seen San Francisco residents bring in everything from Gold Rush-era gold dust samples to modern tech circuit boards containing trace gold. According to the U.S. Geological Survey, California has produced 118 million troy ounces of gold since 1848, and some of that historical gold still circulates through estates and collections in neighborhoods from the Richmond District (94118) to Potrero Hill (94107).
Understanding Karat Values and Purity
Gold purity is measured in karats, with 24-karat representing pure gold (99.9%). Most jewelry ranges from 10K (41.7% gold) to 18K (75% gold). When you sell gold scrap in San Francisco, buyers calculate payment based on the actual gold content—a 10-gram 14K gold bracelet contains approximately 5.83 grams of pure gold.
Professional buyers use XRF (X-ray fluorescence) testing or acid tests to verify karat markings, which can be worn off or fraudulent. Understanding these measurements helps you estimate value before visiting buyers near landmarks like the Ferry Building or along Geary Boulevard.
Common Mistakes When Selling Gold Scrap
Even experienced sellers make critical errors that cost them hundreds of dollars. Our team working with San Francisco, CA clients has identified patterns that consistently reduce payouts or create frustrating experiences.
Accepting the First Offer Without Comparison Shopping
The single biggest mistake is accepting the first offer you receive. Gold buyers’ margins vary dramatically—some offer 60% of spot price while others pay 90% or more. When residents come to us from areas like Noe Valley or the Marina District, they often report initial offers from competitors that were 20-30% below fair market value.
Unlike the Gold Rush era when Samuel Brannan monopolized mining supplies and dictated prices, today’s market gives you leverage. Visit at least three buyers, document each offer including weight measurements and purity assessments, and use competitive quotes to negotiate. Bay Area traffic makes this time-consuming, but the financial difference justifies the effort.
Skipping Professional Appraisals for Potentially Valuable Pieces
Before selling any gold item as scrap, consider whether it has collectible value exceeding its melt value. Antique jewelry, designer pieces (Tiffany, Cartier), or items with historical significance may be worth significantly more intact. For comprehensive evaluation, coin appraisals in San Francisco extend beyond just coins to include precious metal items that require expert assessment.
San Francisco’s rich history means estates often contain gold items with provenance worth preserving. A Victorian-era gold brooch found in an Alamo Square home might fetch triple its scrap value at auction, while a damaged modern chain has no such premium.
Selling Dirty or Unsorted Gold
Presenting clean, organized gold creates better impressions and easier processing. Remove stones (they typically have minimal value and complicate weight calculations), sort items by karat if marked, and separate obvious non-gold components. While buyers will clean items anyway, disorganized lots sometimes receive lower initial offers because processing appears more complex.
Finding Reputable Gold Scrap Buyers in San Francisco
San Francisco’s gold buying landscape includes specialized precious metals dealers, established coin shops, jewelry stores, pawn shops, and refining companies. Each category offers different advantages depending on your specific needs and the type of gold scrap you’re selling.
Specialized Precious Metals Dealers
Dedicated precious metals dealers typically offer the most competitive rates because they buy in high volume and have direct refining relationships. Options in the San Francisco area include San Francisco Coin Buyers, reputable dealers near the Embarcadero, and established firms in the Financial District. These businesses focus exclusively on gold, silver, platinum, and related investments, giving them expertise in accurate assessment and fair pricing.
When our team evaluates gold scrap, we use calibrated scales accurate to 0.01 grams and XRF analyzers that provide instant composition readings. This transparency ensures sellers understand exactly what they’re receiving. To learn more about evaluating buyers’ credentials, coin buyers who provide written appraisals offer insights into professional documentation standards.
Pawn Shops and Jewelry Stores
Pawn shops throughout San Francisco, from the Mission District to the Tenderloin, provide convenient locations but typically offer lower percentages of spot price—often 50-70%—because they need wider margins for their business model. Jewelry stores may purchase gold scrap for melting and recasting into new pieces, though their primary business isn’t scrap buying.
These options work best for small amounts or when convenience outweighs maximum payout. A contrarian local tip: San Francisco pawn shops near Union Square sometimes offer better rates than suburban counterparts because of higher competition and volume, contrary to assumptions that downtown locations automatically mean lower prices.
Gold Refining Companies
For substantial quantities—several ounces or more—direct relationships with refining companies can maximize returns. Refiners process gold into pure bullion and typically pay the highest percentages (85-95% of spot), but often require minimum quantities and involve longer payment timelines while items go through the refining process.
Step-by-Step Process for Selling Gold Scrap
Successfully selling gold scrap requires methodical preparation and strategic execution. Follow these steps to maximize your payout and ensure a transparent transaction.
Step 1: Inventory and Prepare Your Gold
Gather all potential gold items and examine them for karat markings (usually stamped as 10K, 14K, 18K, or 24K). Remove any obvious non-gold components like screws, clasps made of different metals, or large gemstones. Create a simple inventory noting each item’s description and any visible karat marks.
Clean items gently with mild soap and water—nothing abrasive. While this doesn’t affect gold content, it allows for clearer inspection and presents items professionally. Separate pieces you suspect might have collectible value for additional appraisal before committing to scrap sales.
Step 2: Research Current Gold Spot Prices
Before visiting any buyer, check the current gold spot price—the real-time trading price for pure gold. Reliable sources include Kitco or financial sites that update throughout trading hours. As of January 13, 2026, gold spot prices fluctuate based on global economic conditions, geopolitical events, and currency valuations.
Understanding spot price lets you calculate theoretical maximum value. For example, if spot gold trades at $2,100 per troy ounce and you have 10 grams of 14K gold (58.3% pure), your pure gold content is 5.83 grams (0.187 troy ounces), worth approximately $392 at spot. Realistic offers range from 70-90% of this figure, or $275-$353.
Step 3: Visit Multiple Buyers for Quotes
Schedule appointments or walk-ins with at least three different buyers across San Francisco, CA. Request that each buyer test purity (using XRF or acid testing), weigh items on a calibrated scale you can observe, and provide itemized written quotes showing weight, purity, calculation method, and total offer.
Reputable buyers perform this process transparently—they’ll show you the scale readout, explain how they calculated the offer based on spot price and their buying percentage, and answer questions without pressure. Be wary of buyers who rush the process, refuse to show measurements, or pressure immediate decisions.
Step 4: Negotiate and Complete the Sale
Once you have multiple quotes, you can negotiate. Some buyers will match or beat competitor offers when presented with documentation. Choose the buyer offering the best combination of price, professionalism, and payment method (immediate cash, check, or bank transfer).
Before finalizing, verify the buyer’s licensing. California requires secondhand dealers to maintain proper business licenses and follow holding period regulations. You’ll need to provide valid government-issued identification, and the buyer should provide a receipt detailing the transaction. Keep all documentation for tax purposes—gold sales may have capital gains implications depending on your cost basis.
What to Expect During the Evaluation Process
Understanding what happens during professional gold evaluation removes mystery from the process and helps you identify legitimate versus questionable practices. When working with clients throughout zip codes 94102, 94103, and 94110, we follow consistent protocols that any reputable buyer should match.
Testing Methods and Equipment
Professional buyers use two primary testing methods: XRF analysis and acid testing. XRF (X-ray fluorescence) analyzers are handheld devices that use X-rays to determine metal composition without damaging items. Results appear within seconds, showing exact percentages of gold, silver, copper, and other metals present. This non-destructive method is ideal for items you might reconsider keeping.
Acid testing involves applying different strength nitric acid solutions to small scratches made on the gold. The metal’s reaction to various acid concentrations reveals karat content. While destructive, acid testing costs less than XRF and remains highly accurate when performed by experienced testers.
Weight Measurement and Calculation
Legitimate buyers use precision scales calibrated to at least 0.01-gram accuracy. They should allow you to observe the weighing process and, ideally, provide a tare weight demonstration (weighing an empty container, then with your gold) for complete transparency. Gold is typically measured in troy ounces (31.1 grams) or grams, with calculations converting to the standard used in spot price quotes.
The buyer multiplies total weight by purity percentage to determine pure gold content, then multiplies that figure by current spot price and their buying percentage. For example: 20 grams × 0.583 (14K) = 11.66 grams pure gold × $67.5/gram (spot) × 0.85 (buyer’s rate) = $669 offer.
Legal and Safety Considerations
California and San Francisco maintain specific regulations governing precious metals transactions. Understanding these protections helps you identify legitimate operations and avoid potential legal complications.
Identification and Holding Period Requirements
California law requires buyers to obtain valid photo identification and thumbprints for precious metals purchases. This protects against theft by creating a traceable record. Secondhand dealers must hold items for a minimum period (typically 15-30 days depending on local ordinances) before melting or reselling, allowing law enforcement to identify stolen property.
For context on how San Francisco’s regulatory environment differs from other markets, exploring understanding San Francisco coin dealers provides insights into the city’s unique approach shaped by its Gold Rush heritage and contemporary oversight.
Tax Implications and Reporting
Gold scrap sales may trigger capital gains tax if you sell items for more than your cost basis. Inherited gold typically receives a “stepped-up basis” equal to its value at the time of inheritance, potentially reducing tax liability. Sales of certain quantities may require dealers to file Form 1099-B with the IRS, though thresholds vary.
Consult a tax professional regarding your specific situation, particularly for significant sales. The IRS provides guidance on collectibles taxation, though interpretations can be complex.
Frequently Asked Questions
How much gold scrap is worth selling?
Any amount of gold has value, but transaction costs and time investment make quantities under one gram (about 0.03 troy ounces) minimally worthwhile. A single 14K gold ring typically weighs 2-5 grams, containing $100-250 worth of gold at typical market prices. Most buyers have no minimum but appreciate consolidated lots.
Can I sell gold-plated items as scrap?
Gold-plated items contain negligible gold—typically measured in microns of thickness over base metal—and have essentially no scrap value. Refiners can extract gold from plated items but only in industrial quantities. Most buyers will decline gold-plated pieces or offer token amounts for courtesy.
Should I remove gemstones before selling jewelry as scrap?
If stones have significant value (diamonds over 0.5 carats, quality colored gemstones), consider having them professionally removed and sold separately. Small, low-quality stones typically cost more to remove than they’re worth. Buyers usually weigh jewelry with stones and deduct estimated stone weight, or they may offer to purchase stones separately at wholesale rates.
What percentage of spot price should I expect?
Competitive buyers typically offer 70-90% of spot price for gold scrap, with percentages varying based on quantity, purity, and market conditions. Larger quantities command higher percentages. Offers below 60% suggest either unfair practices or significant processing complications (heavily damaged items, uncertain purity).
Is it better to sell during certain times?
Gold prices fluctuate based on economic uncertainty, currency values, and geopolitical events. Monitoring prices over weeks or months and selling when spot prices peak maximizes returns. However, timing the market perfectly is difficult. If you need immediate cash, current market conditions matter less than finding competitive local buyers.
Conclusion
Selling gold scrap in San Francisco, CA combines the city’s historic relationship with gold—dating back to the rush that built this metropolis—with modern refining technology and regulated commerce. By understanding your gold’s purity, obtaining multiple professional evaluations, and choosing reputable buyers who demonstrate transparency, you can confidently convert unwanted gold items into fair cash value.
Remember that rushing into the first offer or skipping proper research typically costs sellers 20-40% of potential value. Whether you’re selling a single broken chain from a Sunset District estate or multiple ounces of dental gold accumulated over years, the principles remain constant: know your gold’s content, understand current market prices, compare offers from licensed buyers, and complete transactions with full documentation.
The San Francisco gold market offers competitive options throughout neighborhoods from North Beach to Bernal Heights, continuing the city’s centuries-old tradition of fair gold commerce—minus the mercury, hydraulic mining, and claim disputes that characterized the 1850s.
Sources and References
- U.S. Geological Survey – Gold production and mining data
- Internal Revenue Service – Capital gains and precious metals taxation
- California Gold Rush historical records and economic impact studies
- Precious metals spot price data from major commodity exchanges
Financial Disclaimer: Gold prices fluctuate constantly based on market conditions. This guide provides educational information only and does not constitute financial advice. Consult qualified professionals regarding tax implications and investment decisions related to precious metals transactions.