Where to Sell Gold Jewelry in Miami-Dade Without Getting Ripped Off

If you have old gold jewelry sitting in a drawer, it’s worth real money — but where you sell it makes a huge difference. The same chain can fetch wildly different prices across Miami-Dade depending on who’s buying.

Here’s the honest landscape.

Who buys gold in Miami

Four main types of buyers, each with different price ranges:

1. Pawn shops

Pay: 30-50% of melt value

Pawn shops are everywhere in Miami — Hialeah, Little Havana, Allapattah have them on every other corner. Convenient and fast, but they pay the lowest prices because they’re not in the gold business; they’re in the loan business. Gold is a sideline.

Suited to: emergency cash. Worst for: maximum price.

2. “Cash for Gold” storefronts

Pay: 40-60% of melt value

These are the ones with the bright signs. They’ve improved their reputation in the last decade but still typically pay below what an actual jeweler or refinery would. Their margin pays for the storefront, advertising, and assay equipment.

Suited to: when you don’t want to wait. Worst for: maximizing return.

3. Local jewelers (the strongest in-person option)

Pay: 60-80% of melt value

Independent jewelers buy gold for their own work. They pay closer to actual value because they’re going to refine and re-use it. Most will weigh and quote in front of you with no pressure to sell.

Look for jewelers who explicitly say they buy gold (not all do). Ask for the spot price they’re working from — current gold price is public info, so any jeweler should be transparent.

4. Refineries (highest price if you have volume)

Pay: 85-95% of melt value

If you have an estate or a meaningful amount of gold (multiple ounces), shipping directly to a refinery can be the highest-payout option. They have the highest minimums and the slowest turnaround (1-2 weeks), but the math gets very different above ~$5,000 in scrap.

Refineries that accept individual sellers: Liberty Coin, GoldRefiners.com, Provident Metals. Always research the refinery’s reputation and shipping insurance.

What “melt value” actually means

When you hear “melt value,” it means the value of the raw gold by weight at current spot price, accounting for purity:

• 24k = 99.9% pure gold
• 22k = 91.6%
• 18k = 75%
• 14k = 58.5%
• 10k = 41.7%

So a 10-gram 14k chain has 5.85g of actual gold content. At a spot price of, say, $80/gram for pure gold, the melt value is $468.

A buyer paying “60% of melt” gives you $281. A buyer paying “85%” gives you $398. Same chain.

Red flags to avoid

• No scale visible. Any legitimate buyer weighs your gold in front of you on a calibrated scale.
• “Pure gold price” pitch. They’re trying to make you think you’re getting a great deal, but everyone uses the same spot price. The number that matters is what percentage of melt they’re paying.
• High-pressure to sell now. A real buyer will let you walk out and come back. Pressure means margin.
• Won’t tell you their spot price. It’s public information. If they hide it, they’re hiding their margin.
• Cash without paperwork. For larger sales, you want a receipt — partly for taxes, partly to prove the transaction if anything goes wrong later.

What to do before you sell

1. Ask for a preliminary estimate of the piece’s value first. Sentimental or designer pieces may be worth more whole than melted. A jeweler can tell you in 5 minutes.
2. Check current gold spot price at kitco.com or goldprice.org so you know the math.
3. Get 2-3 quotes from different buyers. Prices vary 20-40%.
4. Don’t sell on the first visit. Sleep on it.

Related

• How much does jewelry appraisal cost in Miami?
• 14k vs 18k vs 24k gold: which is which?