Gold buyers are everywhere! When you are ready to sell your gold, it’s important to investigate your options to ensure you get paid the price you deserve. In-person buyers (like pawnshops or kiosks at the mall) are convenient, but they have added overhead and margins which often eat away at your payment. Dealing directly with a precious metals refinery can involve shipping your materials to their facilities, so you always want to be sure that you are shipping as conveniently, safely, and cheaply (ideally free!) as possible.
Every company has different procedures and preferences, so you will need to find out what forms you need to fill out and if the buyer will provide you with free shipping. When shipping your gold, Garfield Refining recommends using a box to securely ship your materials via a method with a tracking number and insurance. You will want to start by packing your precious metals in a secured bag or box inside the shipping package, so the metal isn’t loose or able to fall out of the box. You will want to include some tissue paper or other packing protection material to ensure the safety of your valuables.
Always be sure to include the requisite forms along with your materials and shipped gold. If there aren’t forms, be certain to include your contact info. If the seller has provided you with a shipping label, attach it and hand it off to a postal employee to send it for you. You will have to fill out a shipping label yourself if you did not receive one, so be sure you know the seller’s proper mailing address. Depending upon where you are shipping your gold, you may be required to fill out a Customs or Declaration form. For instance, all gold shipped to the U.S. from a foreign country must be accompanied by either a CN22 or CN23 U.S. Customs and Border Declaration form. (Most international post offices carry these forms or you can download them online.)
Traveling with Gold
An alternative to shipping your gold via mail is to transport it yourself. When traveling with gold coins or gold bullion overseas, make sure to contact the nearest office of the U.S. Customs and Border Protection Agency and inform them of the amount of gold you intend to transport and the purpose of the transportation. Whether you are planning to sell your gold, you’re moving abroad, or you plan to buy gold and bring it back with you; ask what you must do to conform to the law. Be sure to ask for a written response you can print and have with you when going through Customs.
To help things run smoothly, notify them well ahead of time and inform them of the date and times of your flights. You will also want to follow these steps regarding the country you plan on visiting. Depending on the amount of gold you plan on transporting, you may have to fill out Export Declaration forms. Be sure to fill them out accurately, as there are very steep fines and possible imprisonment for stating false information.
Even when flying within the U.S., it is best to contact Customs ahead of time and make sure you can adhere to the current regulations and laws. The last thing you want is for your gold scrap to be confiscated before selling it.
Things to Remember When Selling Your Gold Scrap
- Ship your gold in a secure package with a tracking number.
- Contact Customs before attempting to fly with your gold.
- Remember to complete all forms required by law.
The shipping and sending process is a central concern of Garfield Refining. If you’re considering selling scrap gold to our company, first read Garfield Refining’s private shipping instructions.