Gold is a hot topic these days. You’ve heard about it on the news. Or seen the men waving signs that say, “NOW IS THE TIME TO SELL YOUR GOLD!” Prices are near all-time highs — and that’s why it can be a great time to sell your gold. But first you have to figure out how much it’s worth.
We’ve all got some gold lying around. Maybe it’s a dusty box of old gold jewelry, or a collectable gold coin or two. The question is: How do you determine the value of your gold?
An appraisal is a fairly simple process, but it helps to have an expert opinion you can trust. The specialists at West Seattle Coins and Bellevue Rare Coins help people with fair and accurate gold appraisals every day.
There are three main factors that gold appraisers take into account when valuing your gold.
- How much does my gold weigh? Gold is measured in Troy ounces or grams. It’s pretty easy to determine this yourself. The next question, however, is where an expert opinion can really help.
- How pure is my gold? Because gold is a soft metal, it’s often mixed with other metals to increase its strength and durability. This mixture is measured by karats. The more karats in your piece, the higher the concentration of gold (and the higher the value). For example, 24 karat gold is close to 100% pure gold, while 18 karat gold is 75% gold and 25% other metals.
Some unscrupulous dealers will weigh all your jewelry together and pay you at the lowest karat value. Experts at West Seattle Coins and Bellevue Rare Coins will sort your valuables when you come in — so you know you’re getting a fair deal. Read more about how the appraisal process works.
- How much is my gold worth? You know the purity of your gold and how much it weighs. Now, you can calculate its worth on the open market. The gold market is tied to the strength of the dollar. When the dollar is low, gold is high, because it’s seen as a solid investment in times of economic crisis. Make sure to check the price of gold before you go in to get an appraisal, so that you have an idea of what your gold is worth.
Now of course you can try to weigh, assess and determine the value of your gold by yourself, but it’s more reliable to take your gold to a trusted source. Come see the experts at West Seattle Coins and Bellevue Rare Coins in West Seattle. You’ll get an honest, accurate appraisal — with no strings attached — of how much your gold is really worth. With your appraisal in hand, you can decide if now really is the time to sell.
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