This is GREAT news for anyone with any amount of gold to sell! Americans are looking at the next couple of years with the deficits we're facing and the way we're spending and they don't trust the dollar, pushing the price of gold to historically high prices with no signs of an end in sight...
the new "scrap" gold rush has begun! So What's Your Gold Worth? Knowing the market value of your gold is the single most important thing to understand in order to get the maximum amount of money when selling it! How are you ever going to know if you are getting a good (or even fair) deal if you don't even know how much your gold is actually worth!? For the most part, many gold buyers will avoid telling you what percent of market value that they are paying you, or even how much your gold is actually worth.
Instead they will typically just make you an offer, hoping that your lack of knowledge will lead to a bigger profit margin for them.
Luckily, finding the current market value of your gold is actually quite simple.
There are three main factors that you need to know in order to find the current market or "melt value" of your gold: 1.
GoldPurity: How much pure gold does your item(s) contain? (karat ratings) Very important to know is that gold comes in many different degrees of purity which will directly affect the market value of your gold.
This is especially important when referring to scrap gold such as gold jewelry, watches, etc.
because most of these types of gold items are not in fact "pure" gold.
Pure gold (which scratches easily) is actually considered to be too soft to be used in things like jewelry and coins, and so instead an alloy is created using gold.
An alloy is a new metal that is created by combining two or more different metals.
Weight: What is the total weight of your gold item(s)? Like other precious metals, gold is measured by troy weight.
Most gold buyers use either grams (gm), pennyweight (dwt), grains (gr), or troy ounces (ozt).
Finding the weight of your gold is as simple as placing it onto a scale that measures in one of these units of weight.
The daily "spot price" of gold on the stock market ("market price").
Once you have found the weight and purity of your gold you can then complete a simple mathematic equation to find its current market value.
You can also use a "gold value calculator" found online to do these calculations for you automatically.
All you have to do is enter the total weight and purity of your gold item(s) and it will calculate the current market or "melt value" for you! You can find the one that I have created on my website at GoldSellingSecrets.
The first two, purity and weight, will not change once your gold jewelry or other items have been measured and assessed, but the daily "spot price" of gold will.
Therefore, your gold will be worth more or less on a day to day basis as the spot price of gold fluctuates on the stock market.