Flipping Gold and Precious Metals: Weight, Purity and Buyer Deductions
Precious metals are a math-driven category: value comes from weight, purity and the buyer's actual payout terms, not from the seller's story. Never rely on a live spot quote you have not verified, and never treat spot price as your exit — real buyers deduct refining, assay and margin. The exit is what a specific buyer will actually pay, in writing, for your exact material.
Have It Sold is decision support: it organizes buyer evidence, costs and deal math. It does not execute purchases, guarantee buyers or guarantee profit.
Where to buy
- Estate sales, pawn shops and private sellers — verify weight and purity independently.
- Auction lots of jewelry, coins or flatware — check buyer premium and testing access.
- Industrial and dental scrap sources — only with assay or documented composition.
How and where to sell
- A refiner or bullion buyer with a current written payout schedule — the strongest floor.
- Coin dealers and collectors for numismatic items where condition and grading drive value.
- Marketplace retail for jewelry with resale appeal beyond melt value.
Buyer evidence before you buy
A refiner or dealer's current written payout schedule with stated deductions is the qualifying evidence. Spot charts are market context only — MODELED at best. A pawn shop's verbal 'I'd pay around…' is INDICATIVE, not a floor.
How to evaluate the flip
Net exit is the buyer's written payout for your exact weight and purity after their stated deductions — not spot price times weight. All-in cost includes purchase price, testing or assay fees and any shipping/insurance. Buyer deductions, payment timing and price-movement risk between buy and sell all belong in the calculation.
Hypothetical example — scrap gold lot
- Verified weight × purity → fine content
- 28.0 g fine
- Buyer written payout per gram (after deductions)
- $52/g
- Supported net exit
- $1,456
- 70% acquisition ceiling
- $1,019
- Assay/testing cost
- -$40
- Maximum safe buy
- $979
Hypothetical numbers for illustration only. The payout per gram must come from a real written buyer schedule — never an assumed spot price.
Exact-item verification checklist
- Weight verified on a calibrated scale, in the unit the buyer uses.
- Purity verified by testing (acid, XRF, sigma) or assay — stamps alone are not proof.
- Buyer's written payout terms obtained, including deductions and payment timing.
- Item type classified: bullion, numismatic, jewelry, scrap — each prices differently.
- Authenticity and legal ownership confirmed; keep records of the purchase.
Cost and risk factors
- Counterfeit or plated material — the category's defining risk.
- Price movement between purchase and sale.
- Buyer deductions, minimum lot sizes and assay fees that reduce net payout.
- Numismatic value that depends on grading you have not obtained.
- Legal reporting and record-keeping requirements that vary by jurisdiction.
Flipping Gold & Precious Metals FAQ
Can I use the spot price as my exit?
No. Spot is a reference, not an offer. Real buyers deduct refining, assay and margin. Use a buyer's written payout terms as the exit and treat spot-based estimates as MODELED.
How do I verify gold is real?
Combine weight, dimensions and testing (acid, electronic, or XRF) — hallmarks alone are frequently faked. For significant lots, a professional assay is worth its cost.
Is coin collecting value the same as melt value?
No. Numismatic value depends on rarity, condition and grading; melt value depends on metal content. Evaluate each item under the correct basis and do not blend the two.
Related guides
Run this deal through Have It Sold before you buy.
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