When to Sell your gold and when to Keep It

Knowing the best time to sell your gold can be tricky. You want to get the most amount of money for your gold but you have to know how to sell, where to sell and how the market moves.

Gold Jewellery

First things first, gold comes in different forms and in different purity levels alloyed with different alloys. The most common form is gold jewellery which is not as pure but is made from gold alloyed with other metals to make it more durable. Gold jewellery is made with 75% pure gold and it is known as 18K, then there is jewellery made of 58.3% pure gold or 14K and the 10K is made up of 41.7% pure gold. The higher the karat value the higher the value. The purity levels for gold jewellery are usually inscribed discretely on the piece of jewellery. If you can’t find these markings on your jewellery, get your gold jewellery tested by a professional. 

Once you know the purity of your gold you should then weigh it and check out the current market price for gold. You have to calculate how much pure gold you can extract from your jewellery. This is the melt value that does not take into account whether the gold jewellery piece is fixable or not. This should matter especially if you have well-crafted jewellery pieces or antiques and other rare jewellery. For such pieces, the craftmanship itself adds value to the gold piece itself. You might want to try to fix what you can and find gold dealers who pay more for the gold and its uniqueness. However, you need to weigh whether it is worth your while to have your broken jewellery fixed. 

Gold Bars, Coins and Ingots

Anyone who is starting to go into the realm of precious metals, especially gold coins and bars needs as much information as they can get. You need to have your gold valued and understand the process of selling gold. Buying and selling gold products in any form can be a daunting task. It can be intimidating too because there is so much that goes into it. Some of this is a little nuanced you need to deal with a reputable gold buyer you can trust. Getting information from a reputable gold buyer should give you a level of trust and assurance that you can at least get a fair price for your gold. The process of buying or selling gold doesn’t have to be intimidating. With the right information and help from the right gold dealer, you can get what you need from your gold whenever you need to.

There is nothing like the security a reputable gold dealer can give. The best gold dealers will assess the value of what you have and work extra hard to maximize your returns. If you have numismatics or collectible coins you can get as much information about how prices are set for these. Visit a coin shop or and find out how collectible gold coins are graded and what their price is based on. You can tell how experienced a gold dealer they can share in-depth information about all kinds of gold bullion coins. You might not have a crystal ball to show what tomorrow holds as far as the gold price is concerned but you can always follow the markets, know what the trends are, and insider tips to get the best value for your gold.