How to Sell Gold & Silver Online

Past prices show that gold and silver are good for storing value. In 1915, gold cost $19 per ounce. By 2025, the spot price went up to more than $3,300.

Because of the increase in value in the last century, a buy-and-hold strategy seems like a good idea, but investors need to sell gold and silver sometimes. There are a couple of reasons for selling. The first is simply to get cash. Stores won't (usually) accept precious metals as payment. Selling silver or gold provides the cash to buy things.

The second is to rebalance a portfolio. During inflation or a bad economy, metals are a safe haven. At these times, it is good to hold as much gold, silver, and platinum as possible. When times are good, though, investors may want to put more money in stocks, real estate, or something else. These other investments might bring more profits in the short term. Investors sell silver or gold to get more capital for these other things. They can always buy their metals back when a bear market starts or inflation goes up again.

Challenges of Selling Gold and Silver

When it's time to sell, how do people find silver or gold buyers? An investor might search for "silver and gold buyer near me," but the results of this search may not show trusted buyers who give the best prices. Often, the sites that appear on "sell silver near me" results pages pay low prices because they think investors will want to sell quickly. Or, sellers might have to go through negotiations to get a decent price for their coins or bars.

There might also be problems with delays and distance. Some gold owners may wait to sell or travel long distances to find a gold buyer who will pay fair prices for silver and gold bars and coins.

However, it does not have to be complicated. Sprott Money is a place to buy gold, but owners can also sell gold and silver. Sprott will also buy platinum bars and coins.

The advantage of selling silver and gold to Sprott Money is its easy sales process. Sellers won't find the stress or complications they have experienced in the past when trying to sell coins or bars.

Selling Gold and Silver to Sprott Money

Sprott Money offers storage accounts where investors can keep their gold, silver, and platinum holdings in a secure site. Customers can buy, add, or sell their coins and bars from these sites through Sprott. However, it's not necessary to have a storage account to sell your metals. It's just as easy to sell gold or silver from other locations.

With either arrangement, the process is clear and streamlined. Here is how each of the steps works.

Selling Metals from a Sprott Money Storage Account

Customers with a Sprott Money storage account can start the process to sell their gold or silver with two steps.

1. They begin by calling their Sprott Money sales rep. That person will learn what metals they wish to sell and offer a price quote.
2. If the customer accepts the price, they'll get a sell-back order confirmation. They have 24 hours to fill out documents called Payment and Transaction Request forms. This paperwork is basically a written permission allowing Sprott Money to carry out the sale.

Once these forms are submitted, the sale goes through.

Selling Metals Bought from a Third Party

The process is also easy for sales of metals not in a Sprott Money storage account. There are more steps to test purity and ship the coins or bars. The whole process has four phases.

1. Sellers start the sale by calling a Sprott Money sales representative to explain what they are selling and get a price quote.
2. After accepting and getting the order confirmation, the seller has 24 hours to fill out the Payment and Transaction Request.
3. If the metal isn't sealed or doesn't have documentation, the seller pays a $2.50 CAD fee (per item) for a purity test.
4. The customer arranges shipping and buys shipping insurance through a third party. If possible, sellers should send the metals within 2 days (48 hours) of getting the sell-back order.

After Sprott Money gets the metals and runs the purity tests, it handles the sales process and sends payments.

How Long Does Payment Take?

For both selling from a storage and selling metals from other sources, the payment processing takes the same amount of time. It takes 5 to 10 business days for both types of sales.

However, since the two processes have different steps, the overall amount of time from the first call with a Sprott Money sales rep to the final payment is different.

For those selling silver and gold from a Sprott Money storage account, the 5 to 10-day clock starts when Sprott receives the transaction request form.

For sellers sending gold and silver to Sprott Money, payment happens 5 to 10 days after Sprott gets the gold and tests it for authenticity (if needed).

Where Do I Sell Silver Near Me? Sprott Money

Eric Sprott, the founder of Sprott Money, is one of the most respected names in the industry. The clear buying process, easy steps, and fair pricing make Sprott Money a good place to sell silver and gold. Whether you already have a Sprott Money storage account or want to sell gold and silver you keep elsewhere, Sprott Money can take the stress out of the process. You won't have to visit a facility or haggle over the selling price.

Consider selling your precious metals to Sprott Money.

Get started by learning more about Sprott's gold and silver buying process.