What is Your Gold Worth?

Have you ever wondered what your gold is worth? With so much buzz in the gold market over the past 5 years and the raising price of gold, you might wonder if it is a good idea to sell your gold for cash.  The fact is that the value of your gold is considerably higher than it was just three years ago, and there has never been a better time to sell your gold.

The price of gold is changing rapidly and smart investors are riding the roller coaster to net high profits trading in gold.  The price of gold raises up high, and then drops at seemingly unexpected moments but the overall trend is that the price of gold is raising at an increasing overall rate, with the exception of last month’s sharp drops.  However, It is yet to be seen if the drop in price is within the normal variance or a signal that the growth that gold has had over the past 10 years is going to slow down, or even reverse.  Analysts are divided weather or not gold will continue to grow in value in the near future, or will level off or drop.

What is it Worth?

So how much is your gold actually worth? To determine this you have to take into account the current price of gold, the weight of the gold you own, the purity of the gold alloy and the intrinsic value of the piece of gold you have.  If you have gold coins, there may be additional value to collectors if there but this condition of your coins will become a factor. If you have gold jewellery then there is additional value in the craftsmanship of the piece as well there could be additional value if it is an antique or rare piece.


Tip #4: Know Your Karats

Gold Ring and Crown
In Tips #1-3, we discuss the fundamentals: understanding your gold value, knowing your gold mass, and knowing your gold buyer. These elements will make you more knowledgable when selling gold in Toronto and anywhere else. They help you get the best money for your gold, whether selling to cash for gold, online, or anywhere else. Our next few tips cover and better explain...