Selling gold back: how buy-back prices work
What a dealer's buy-back price means, what the spread costs you, and how to get a better price when you sell.
What a buy-back price is
It is what a dealer pays you for a bar or coin today. It usually sits close to spot, below the dealer's own sell price. The gap between the two is the spread, and it is the real cost of a round trip.
Why it differs between dealers
Dealers price buy-backs by how easily they can resell an item. Common products from known refiners tend to fetch better prices than unusual ones, and some dealers do not publish a buy-back price at all, so you only learn it when you ask.
Getting a better price
Compare a few dealers on the day, keep packaging and invoices, and ask whether the quoted price depends on the item's condition. Prices follow spot, so check how long a quote holds before you travel.