Alloy Market Reviews

Alloy Market is a precious metal buyer that purchases gold, silver, platinum and palladium. Founded in June 2023 and headquartered in Newtown, Pennsylvania, Alloy Market aims to make the precious metal selling process as easy as possible for customers. The appraisal process is free and payouts can be made as quickly as the same day, depending on the payment method.

Alloy Market makes the selling process about as straightforward as it can be. First, you request an appraisal kit, which comes with no cost and no obligation. The kit arrives in about five business days. Once received, you’ll pack your items and mail the kit back. The appraisal kits are prepaid, prelabeled and insured for up to $100,000.

The company examines and appraises your items the same day they arrive and gives you an offer within 24 hours of receiving the appraisal kit. The evaluation process consists of X-ray and acid testing in addition to physical examinations. The offer takes into account the item’s weight and purity and is based on current market prices. You’re not obligated to accept the offer.

Once accepted, payment is processed on the same day. Depending on the payment method you choose, you could receive your money the same day. Throughout the process, each customer is assigned an Alloy Advisor to answer any questions and provide help where needed.

Alloy buys gold, silver, platinum and palladium. The company also occasionally purchases diamonds and gemstones (such as rubies, emeralds and sapphires), but usually only if they’re above 1 carat in size. If you’re not sure whether your item will be accepted, you can reach out to the company to verify.

Here’s a rundown of the different types of precious metal products Alloy accepts:

• Gold
  • Coins
  • Bars and bullion
  • Jewelry
  • Dental crowns
  • Flatware sets
  • Charms
  • Pocket watches
  • Cigarette cases
  • Mirror cases
• Silver
  • Pure silver coins
  • Bars
  • Jewelry
• Platinum
  • Bars
  • Jewelry
  • Scrap wires
  • Crucibles
• Palladium
  • Bars
  • Jewelry
  • Scrap wires
  • Crucibles

The entire appraisal process is free, including the kit, shipping and insurance. There is no obligation to accept your offer or even use the kit once it’s received. Alloy also won’t charge you to return your items if you decide not to accept the offer — the only exception is in cases where none of the items sent actually contain precious metals.

As far as how much Alloy pays for precious metals, the company guarantees the following minimum payouts:

• Gold, platinum and palladium: Minimum of 70% of melt value
• Sterling silver and fine silver: Minimum of 60% of melt value
• 24k gold or gold bullion: Minimum of 85% of melt value

Melt value is simply the value of the precious metal content in an item.

Alloy also deducts a small percentage of the final price of each sale. The exact amount of this fee isn’t disclosed, but the company claims it’s minimal compared to competitors.

You can choose from the following payment methods:

• Check (payment received in 7 to 14 business days)
• ACH/direct deposit (payment received in 2 to 3 business days)
• PayPal (payment received immediately)
• Venmo (payment received immediately)
• Wire transfer (payment received the same day)

Alloy Market appears to be a legitimate precious metal buyer. The company is young (founded in 2023), but it claims to have paid out over $1 million to customers, with an average payout of $1,400. Additionally, Alloy fully insures all appraisal kits and records the opening of all packages to help ensure transparency. The company is very transparent about its processes for determining the value of items.