How To Sell Gold- Westlake’s Quick Guide

Image of gold items on a white background.

Share This Post

How do I sell my gold?

Do you have gold to sell, but aren’t sure where to start? What are the dangers and hassles to avoid? How do you get the best price? Continue reading for Westlake Gold’s guide to making this process a little easier.

We can help you identify how and when to sell your gold and what to look for in a trusted buyer. We’ll also touch on how to calculate the price you can expect.

Interested in selling your gold? Call us today for a free consultation.

When Should I sell my gold?

The right time to sell your gold can be influenced by both personal and financial decisions.

If you are investing in gold and looking for the right time to sell to get the best return on your investment, bookmark our spot price tool page to keep up to date daily. If you come across your gold in another way or inherited it, ask yourself whether you’re ready to part with it, and consider the possibility it may be something that could be sentimental in the future.

The top reason people generally sell their gold is that they need to liquidate their investment. It could be to buy a house, to pay for college tuition, or you might just want to splurge on a long vacation.

Whatever your reason for selling gold is, you decide when the time is right.

Here are a few other common reasons people sell their gold:

  • Diversify investment portfolio
  • Pay for college tuition
  • To make a large purchase like a car or house
  • Medical bills
  • Trade or liquidate an investment

Know Your Gold

It’s important for you to be knowledgeable about what you have before you try to sell. Here are a few key points you need to be aware of to make sure you’re getting a fair price:

Bullion Vs Collectible

One notable thing to figure out is whether you are holding bullion or a collectible product.

Bullion refers to bulk form precious metals, valued by weight. Bullion is seen by many as being gold or silver bars. Collectibles, on the other hand, tend to refer to gold or silver coins with distinct currencies and designs.

Sovereign Vs Private Mint

Another thing you should figure out is whether you have Sovereign government-backed currency or a private mint item. Buyback and value prices could differ depending on what you have.

Sovereign mints are often referred to as national or government mints. Products produced by sovereign mints are legally useable tender in that country. Usually, there is face value associated with the item and an official tender status.

Private mints do not produce for legal tender. Private mints usually create items with their own branding, designs, purity, and content.

Bid Price Vs Ask Price

Bid Price: The price a dealer is willing to pay for your product.
Ask Price: The price a dealer offers to sell the same product.

Want to know how to sell your gold? Westlake Gold can help. <a>Call us today</a> for a free consultation.

Find a Trusted Buyer

Once you know your gold, it’s time to decide where to sell it. You’ll want to find a reputable, trusted dealer like Westlake Gold to meet your needs. Are you in Southern California and want to know what your gold is worth? contact Westlake Gold today for a free consultation.

Photo by Sabrianna on Unsplash

More To Explore

Lynne A.

left us a 5 star review


Met with Joel to see if the silver and gold coins I found were worth anything. He was very nice and only one coin was worth a few bucks. He suggested just...

Lynne A. September 29, 2023

Joel took time and patiently explained the value of my jewelry and how he calculated it. I believe I got a good, honest deal and I would highly recommend him.

Anne Andrews C. September 28, 2023

I could not have been more pleased and satisfied with Joel at Westlake Gold. If you have spare jewelry and gold that you want to get top dollar for, this is the only place that you need to go. Do not go to downtown LA. Do not go to any jewelry store and especially do not go to a pawn shop! Joel is the only man that you need to see. He is professional, kind, and as sincere and honest as they come. He has a low overhead for his business and he is without question going to give you the best possible price for your valuables. I didn’t even know that some pieces that I had were worth more than I had expected… but Joel being as honest and sincere as they come made sure that I had what I needed and did with a gracious understanding and very friendly demeanor. After leaving this place, I was both impressed and so happy to see that there are still people out there that do care about others. Do not waste your time and go anywhere else… this is the man to see!!!

Steve Benezra September 20, 2023

Very professional and detailed in their evaluation. I felt very comfortable.

Ali Farboud August 9, 2023

The team at Westlake Gold was both kind and professional. Joel is very knowledgeable and fair - and I really enjoyed working with him on the sale of some estate jewelry. I highly recommend!

Dana Barrett July 10, 2023

*Respectful, surprisingly great appraisal, very safe and honest.* Joel meets his customers in a clean and neat office inside of an office building, instead of many others in the area. This allows me to feel more comfortable to start with. He was very respectful, friendly, and courteous. The best part comes with the pricing. This was not my first time releasing old gold and jewelry, and I received way more than I thought I would have given my past experience with other jewelry buyers. Thank you, Joel. Wish I had met you in the past, but sure am happy I do now.

Birgitte Tan June 30, 2023

I was very happy with the transaction and the money that he offered to us when I sold gold jewelry. He was very knowledgeable and kind to me and my...

Mithila U. June 2, 2023

Great experience selling gold silver and jewelry. Joel is very skilled and explains the transaction.

Mike Kale May 19, 2023

What a hidden treasure, pun intended. Overwhelmed with a large collection that I wasn't sure was costume or the real deal. impressed with how each piece was tested even the ones marked for authentication. professional and honest.

janie ahlberg May 14, 2023

If you are looking for an honest appraisal and fair deal, this is the place to go! I walked in with what I thought was seven 1oz Canadian silver dollars worth $25 each, turns out they were 1oz Canadian platinum coins with worth $1,000+ each!! He operated with 100% integrity and patience with me. He took the time to educate me on coins. I will defiantly return!

John Strote May 12, 2023

Highly recommend Westlake Gold. I had a bunch of estate jewelry to liquidate and I feel like I got a very fair price for my items. I definitely will return. Thank you!

Rana Mohr May 12, 2023

I highly recommend Westlake Gold - Joel is very knowledgable about gold and diamonds and I loved his authenticity when giving me the information I needed. He’s very professional, and courteous. I’ll definitely be back in future!

hannah de boisblanc December 16, 2022

Joel, thank you for your help with the silver we brought into your shop. You were very helpful and pleasant to work with.

Robin Johnson December 5, 2022

Just met with Joel while taking care of selling my father's gold (after his passing). Joel was honest, fair, and professional. Highly recommend Westlake Gold.

Cathy Anderson August 2, 2022

I highly recommend Westlake Village Gold! I took my Jewelry to several places,I receive the best price from Joel his customer service, Attention extremely detail. I knew the first few minutes of meeting him that you can trust this man, Definitely will be back.

Rebecca de la Torre September 14, 2020

Joel always provide incredible customer service. Joel is very knowledgeable about gold and diamonds and is also very polite and I always enjoy my conversations with him when trying to sell him gold. I highly recommend working with Westlake Gold.

Patrick rohn September 10, 2020

I bought two rings from Joel and was blown away by the experience. He is extremely honest, professional, and knowledgeable. He normally doesn't make jewelry sales to walk in customers, but just so happened to have exactly what we were looking for. And he even arranged to have our rings resized and polished. They are beautiful and exactly what we wanted.

Stephanie Bland March 30, 2020

Very professional, knowledgeable and honest. More than fair, highly recommend.

Doug Weil January 9, 2020

Joel is great at what he does. He helped me with valuing some coins I needed. If you need to find the value on any jewelry you must go here. Thank you so much for your help!

Probate Services Inc. November 2, 2017

Joel was extremely knowledgable, professional, informative and expeditious in the overall process. I will be coming back if/when I have a need to sell silver, gold and/or jewelry!

Scott O'Malley July 14, 2016