How to Sell Gold Dust

Gold dust is the form of gold that is collected by panning for gold or other forms of placer mining and is composed of flakes and occasionally small nuggets. If you want to sell gold dust, the easiest way to do so is to find a company that can assay (test) and refine the gold. There are several ways to sell gold dust either online or through a local dealer. Whichever method you choose, the steps you need to take are pretty much the same.

Find out what the current market prices are for gold. Prices for both refined gold (gold bullion and investment coins) and unrefined gold vary with the commodity price of the metal and can change from day to day.

Have your gold dust tested (assayed). Assaying determines whether your gold dust is real gold and what the purity is. Buyers will want to see an assay report before purchasing your gold dust.

Locate a dealer to buy your gold dust. In many cases, assay services also refine precious metals, so you may be able to test and sell gold dust at the same time.

Sell your gold dust. You will not get a price per ounce equal to the daily spot price of gold because the buyer must allow for the costs of refining the gold dust. However, good buyers will give you fair prices, especially if you get quotes from multiple buyers.

Maintain careful records of your transactions. When you sell gold in any form and make a profit, you will need to declare it on your tax return.