Knowing the Value of Your Gold

So, you have read in the papers or on the internet that you could literally own a fortune in gold. Before you believe everything you read it is important to do some research. Are you asking yourself 'how much is my gold worth?' If so, then it is time to get a little bit more information about the price of gold in its different forms.

How Much Is My Gold Worth in Coins?

Gold coins carry a higher premium price value than other forms of gold due to the fact that they have a rich history which makes them collectibles. If you have a collection of gold coins and you are thinking to yourself 'how much is my gold worth?' it is definitely a good idea to research online and ask some specialists in the gold coin field. There is a difference between gold sovereigns and Kruggerands. The latter have no real historical significance and whilst they are a convenient way to buy gold they do not really have the same higher premiums as sovereigns. If you have gold sovereigns remember that it is a particular niche market and therefore if you want to get the true value of the sovereigns you must make sure that you sell to the right buyer. A cash for scrap gold merchant will never give you anywhere near to its true value on the sovereign market.

How Much Is My Gold Worth in Bars?

Gold bars come in many different shapes and sizes. One way to gauge 'how much is my gold worth' for those individuals who own gold bars is simply to check the gold price online. The gold price is set two times daily in London. 2011 has witnessed a massive increase in the price of gold as many new gold buyers have emerged in countries such as China and India. Other global economic concerns and political upheaval have also pushed up the price of gold as investors have turned away from the market towards more secure forms of investment such as gold.

Depending on the size of the gold bar you will be able to achieve a high percentage of the spot price of gold. Large bars such as a 25 ounce bar will ultimately get a much higher percentage price and with the right buyer could get anywhere up to 98% of the current gold price. When you consider that the gold price is currently hovering around $1800 per ounce achieving 98% of this value is not a bad price. As with any selling it is always a good idea to do some research as to who is buying and which companies are offering the best prices when wanting to know 'how much is my gold worth?'

How Much Is My Gold Worth in Jewelry?

When you are trying to work out how much is my gold worth in relation to jewelry it becomes much trickier to evaluate. To begin with it depends on the purity of your gold. It also depends on the buyer that you are dealing with. Many cash for gold buyers offer a very low percentage of the actual spot price of the gold and this can often be much less than you could achieve if you did some thorough research as to the many companies out there or even went straight to the gold refiner and cut out the middleman.

The less reputable gold buyers rely on the fact that most people really have no idea about gold prices or gold purity. Therefore it can be easy to offer much less than the true value. When trying to work out how much is my gold worth in regards to jewelry it is advisable to be realistic but also be educated. There are some dealers who will offer up to 80 or 90% of the true value; it just may take some time to weed out the less reputable dealers.

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