What You Need to Know About Selling Your Gold

Should you be selling your gold? As worries over the recession have
now given way to worries about inflation, rates for selling gold remain
at a high. Consider this: Just 10 years ago, a troy ounce of gold fetched
sellers around $300 (click here for data on gold price history across the world).
That same amount today now puts around $1,300 directly in
people’s pockets. Excess jewelry and watches, once the material signs
of wealth and status, are more and more becoming unnecessary items.
If the recession taught us anything, it’s that in times of financial duress,
people naturally tend to downsize. What’s most important to downsizers
is establishing a secure future and, right now, gold is helping sellers
of all ages earn extra cash to put towards college tuitions, mortgages,
debts and retirement funds. But even if your jewelry box isn’t full of gilded
adornments, broken/bent jewelry and gold coins are also common sources
for potential cash.

At the last close of today’s market, gold was fetching $1,348.40 per
troy ounce. Now, that doesn’t mean that your gold earrings or cufflinks
alone will earn you that much. Because pure gold is too soft for everyday
use, gold jewelry is alloyed (blended) with copper and nickel in order to
strengthen it, as well as to alter its color and ductility. You’ll find copper
and zinc in yellow gold, while nickel and zinc is added to white gold. The
most common gold jewelry is 14 karat; pure gold is 24k. This means
buyers pay for the percentage of pure gold found in the jewelry, which
averages 55 percent. But the more gold you have to sell, the better your
odds are for earning beaucoup bucks. And the trend doesn’t seem to be
slowing down.

A recent Wall Street Journal article cites a Citigroup forecast that gold will continue to rise this year by 7 percent to reach $1,445 per ounce.
The same article cites that JP Morgan now accepts physical gold as collateral
against securities lending. Even the latest uprising in Egypt bears a direct
uptick in gold’s value. So whether you have outdated, old jewelry lying
around or you simply want to de-clutter your environment, selling gold is
a common and effective means for money. Wouldn’t you know it, you’ve
been sitting on a goldmine all along!

Come see us at Joe's Gold & Silver to get a free appraisal on your old unwanted jewelry. We have 4 locations in Hawaii, Las Vegas, Beverly Hills, and Encino. Call us at 818 Joe Gold for more information or visit us at www.cash2goldexchange.com.