With the gold market being so strong as opposed to currency, there has never been a better time to sell your old or unwanted gold. It can be confusing however, when you are checking the daily rates to try and get the best deal. While gold prices are generally given in Troy ounces, you will see some places that are advertising the rate of gold per gram. There is nothing wrong with this, as long as the rate is comparable.
There are approximately 28 grams in an ounce. So if you are comparing the rates between grams and ounces the price should be the same. For example, if the rate per gram is $1, the price per ounce should be $28. This equation really comes into play if the dealer is buying by the gram as opposed to the ounce. We all have calculators on our Cellphones so do a quick sum to make sure you aren’t being ripped off.
The fluctuating rate of gold per gram can be confusing to keep up with, but if you are sensible when you go to sell your gold, and allow for a slight change, you will still come out the winner. Check the stamps on your gold too, these tell you both the purity and the origin. 24k foreign gold could well be worth less that 18k US or European gold, so bear this is mind too when you are working out the value of your gold.
Ultimately, any gold can now be turned in to quick ready cash that we could all do with right now considering the way the dollar is currently performing. If you have a special event or occasion looming, cashing in your gold is a great way to raise the funds necessary to make it a really special time for everyone concerned.
If you aren’t sure what purity your gold is, or it’s origin, or if you have silver or white gold, there are many government-approved website which will show you the stamps that are on precious metals and what they actually mean. By checking these out you will know exactly what your gold is and roughly its true value. This arms you with the knowledge you need should someone try and pass off your 18k bracelet as 9k.
If you have a serious hunt through jewel boxes and at the back of drawers and cupboards you mind find a small fortune in gold, so it makes sense to get it changed into hard cash.