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More detailsLearn MoreTerms ApplyPaid PlacementBiz2CreditGet Prequalified up to $200,000 in business financing Learn MoreTerms ApplyPaid PlacementBig Think CapitalSmall Business financing that moves as fast as you doLearn MoreTerms ApplyMonarchOur top pick for being easy to use, Monarch's budgeting app is 50% off your first year of Core Plan with code CNBC50Learn MoreTerms ApplyBluevineBluevine offers fast funding options for your small businessLearn MoreTerms ApplySBG FundingFast and flexible financing options for your small businessSelect independently determines what we cover and recommend. We earn a commission from affiliate partners on many offers and links. This commission may impact how and where certain products appear on this site (including, for example, the order in which they appear). Read more about Select onCNBC, and clickhereto read our full advertiser disclosure.I had a thin 14-karat gold bracelet zapped to my wrist as a permanent bracelet in August 2023. Without a clasp, it was just dozens of tiny links that held on for years.
One recentSaturday, the bracelet caught on a door handle and snapped off. The 14-karat means the jewelry is 58.3% pure gold, and with gold prices reaching new highs since October 2025 — thanks to geopolitical tensions and persistent inflation — I wondered what I could make by selling the broken item.
But I didn't want to spend significant time or energy offloading it. I started looking for places that buy and sell gold online, and was initially overwhelmed by options. However, The Alloy Market caught my eye for its promise of simplicity and ease — I would send my jewelry, even if it's broken, for free and receive cash in return.
Founded in 2022, The Alloy Market makes money by either refining unusable materials and taking a cut, or by listing usable items on their online resale marketplace. If one of your items is in good condition and resells, the brand gives you an additional payout on top of the scrap value it gave you — a feature it calls Double Pay. Additionally, it has 4.9 stars out of 5 in over 600 reviews on Trustpilot.
Here's how CNBC Select tested The Alloy Market and what you should consider if you're thinking about using the service.
The Alloy Market
Standout benefits
The Alloy Market provides free shipping kits to turn gold, silver, platinum and palladium items for cash, including broken pieces. Accepted offers are wired directly to your bank account. Items can be covered with insurance during shipping, and offers are generated quickly after items are shipped.
Cost
Free to order a shipping kit
Pros
- Offers a fast and free way to sell precious metals
- Estimates and offers are provided quickly after shipping
- Funds wired directly to your account after an accepted offer
Cons
- Limited online reviews
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Select Tested: The Alloy Market
- A prepaid shipping kit came in the mail
- I got an offer about two business days later
- The Alloy Market make it easy to get rid of scrap metals
Minimum initial purchase requirement of $10,000
Account MinimumsMinimum account balance of $25,000
FeesAccount set-up fee of $50. Storage fees of $100 or $15, depending on storage type. Annual account administration fee of $125. Terms apply.
LEARN MOREAmerican Hartford GoldInitial Purchase RequirementsMinimum purchase requirement of $10,000
Account MinimumsMinimum account balance of $10,000
FeesAnnual IRA fee of $75 for accounts valued at $100,000 or less, $125 for accounts valued at $100,001 or more
Storage fee varies with the depository but typically is a flat $100 annual storage fee in most cases
LEARN MOREA prepaid shipping kit came in the mail
I ordered a free shipping kit from The Alloy Market and it arrived within a few days. It included helpful information, a prepaid shipping label and easy instructions for drop-off at FedEx.
The toughest part of the whole process was my fault: I kept forgetting to put the bracelet in the envelope and ship it. The company texted me a reminder roughly two days later, which helped me get back on track.
Before visiting my local FedEx, I took one last glance at my jewelry box: I knew that I had a few other sterling silver bent rings and broken necklaces. After checking for the .925 stamp — a standard mark that notes an object's content is 92.5% silver — I dropped those items in the padded envelope, too.
I got an offer about two business days later
About two business days later, The Alloy Market offered me $18.89 for my pieces, which doesn't sound like much. But in reality, I would have spent $20 to $30 to repair the bracelet. Since I wasn't committed to doing that, it would have just cluttered my jewelry box. I was happy with the offer, so I accepted.
The company wired the money to my checking account the next day.
The Alloy Market makes it easy to get rid of precious metals
In the end, I got what I wanted: quick money for a broken item that required very little effort. I spent less than 30 minutes on the process, and while the amount I received for the pieces wasn't huge, it turned something I couldn't do much with into cash.
Truthfully, I don't know if I got the highest value for the pieces I sent in, as I didn't shop around. However, the offer was consistent with the calculator on the brand's site — which predicts an offer based on the karat and weight of the piece in grams — so there were no surprises.
For small items that have some value, The Alloy Market is a good, convenient way to turn precious metals into cash.
Then consider other ways that gold can help you diversify your portfolio — after all, it can be a strategic investment as an inflation hedge and a widely regarded store of value that isn't tied to just one currency. You can easily order gold from online retailers, including JM Bullion, one of our top picks for buying physical gold since it offers a wide variety of bullion and coins.
JM Bullion Precious Metals
Learn MoreInformation about JM Bullion Precious Metals has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.Features
JM Bullion has been selling precious metals online since 2011, and sells gold, platinum and silver bullion and coins. In addition to selling precious metal products, the brand also buys gold from consumers and offers a gold IRA. For assistance, the brand's Texas-based customer service team is available from 8 a.m. to 6 p.m. CST Monday through Friday.
Shipping
Domestic orders of $199 or greater receive free shipping. Shipping on orders under $199 cost $9.95.
Pros
- Offers a gold IRA option
- Buys scrap precious metal ($1,000 minimum)
Cons
- Costs vary by payment type
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