Whats The Price Someone Will Buy Gold From You For
Apart from the market price of gold, the other price that is relevant to you as a gold seller is the price that someone will actually pay you for your gold.
When a gold buyer buys gold, they are planning on melting it down, recasting it and then reselling it and they will be aiming to sell it for as close to the current gold market price as possible.
To do this, they will have costs that they need
- Equipment to smelt gold and recast it in a form which can be sold
- Employee costs
- Overheads like rent, electricity, insurance
- Licenses to professional bodies
As they are a business, they also want to make a profit to allow the business to continue to operate. For all of these reasons, the price that a gold buyer pays for second-hand gold cant be the market price.
Why Should You Choose Muthoot Gold Point To Cash For Gold
Muthoot Gold Point is one of the trusted companies in the precious metal space. We buy Gold from the customer for market value and promise to provide the right amount for Gold.
- The process is 100% transparent and efficient.
- Selling Gold in its old condition, which may affect its weight and overall valuation. Muthoot Gold Point cleans the Gold with the ultrasonic machine right in front of the customer. Cleaning dirt from Gold helps estimating the appropriate value.
- Advanced XRF machines are used to check values, weight and purity of the Gold.
- At Muthoot Gold Point, the customers can sell Gold for cash. Our services are designed to meet requirement of every customer.
- The current market price is used every time while evaluating Gold.
- Up to 3 decimals points are considered as shown on the weighing scale. It helps with the accuracy of the overall weight, and hence the highest value of the Gold is assured to the customers.
- Muthoot Gold Point uses high quality crucibles to melt the Gold which do not retain any Gold on it after melting.
- A customer gets up to Rs. 10,000 cash is direct. Amount more than Rs. 10,000 is instantly transferred to the customers bank account.
- One of the most trusted companies to exchange Gold for cash in India. Muthoot Gold Point is the part of Muthoot Pappachan Group which has legacy of more than 133 years built on trust.
Factors To Consider When Selling Gold Bars
There are four main factors to consider when selling gold bars.
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Gold Value Faqs: How Much Is Gold Worth
The resale value of your gold is based on the current market price of gold bullion but considers several other factors. The higher the percentage of gold in your jewelry or coin, the higher the value.
Gold is measured in karats, with 24-karat being the purest gold, with the highest gold melt value. Unless you have gold bullion or another form of pure gold, your gold item is mixed with other metals or alloys.
You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold:
Gold prices have been hovering at a 7-year high. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
Factors To Consider When Buying Physical Gold
If you decide to buy physical gold, youll want to keep a few things in mind:
- Storage: Physical gold requires a secure storage location. While you can certainly keep your gold at home, many investors prefer a custodian. Make sure you research secure options for storing your gold before you buy it, and keep in mind that safe storage adds costs to your gold investment.
- Insurance: If you decide to store your gold at home, you should insure your gold to protect yourself against theft or natural disaster. This can add to the cost of your homeowners or renters insurance. And even if you dont keep your gold at home, youll want to check in on your storage providers insurance policy to determine how its protecting your investment.
- Manufacturer: Because youre making an investment, youll want to make sure youre buying from reputable sources that will help your purchases value grow over time. When buying gold, look for respected producers like Credit Suisse, the Perth Mint and the Royal Canadian Mint.
- Purity: The gold content in the coin, bar or piece of jewelry has a big impact on its value and worth as an investment tool. Ensure any gold you purchase as an investment has the purity level to help it stand the test of time. That means youre probably targeting gold items that are at least 91%, if not 99%, pure.
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What Is Gold Filled
Gold-filled jewelry is constructed in two or three layers: The core metal is brass, and a gold alloy is then bonded to one or both surfaces of the brass core with heat and pressure. Gold-filled jewelry contains a much thicker layer of gold than plated or vermeil items and will hold up better with wear comparatively.
Examples Of Gold Jewelry Values
The best way to understand how much you are likely to receive for your gold is to look at what has been paid out in the past. Were going to use prices from Express Gold Cash as they are the most transparent about their pricing and offer very fair prices.
14k gold jewelry examples:
Weight: 18.8dwtPrice paid: $670.42
There are more examples over at the Express Gold Cash website, but these should give you an idea of the type of value that can be attained from gold jewelry.
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Selling Gold For Cash: The Takeaways
When you want to sell precious metals, make sure you know what you have. Determine whether your items are gold or silver bullion bars, gold or silver coins , jewelry, or scrap items. Research their value and determine the ideal payment method.
Then, find someone to buy the items. The best overall value is with a site like CashForGold or CashForSilver. However, if you need money today, an in-person sale may be a better option.
Have you sold gold or silver before? What was your experience?
What Is Gold Worth
Gold is a precious metal, but its also a commonly traded commodity. The market price for gold changes every single day.
For example, gold cost $1,819 an ounce on February 12, 2021.
To know what gold is worth, youll have to look up that days prices. You can easily do this with a quick internet search.
The price that you see quoted is the price for pure gold. Not all gold jewelry is made of pure gold. Gold is a very soft metal and can easily get damaged.
It is often mixed with other metals, such as copper and silver. This reduces the purity of the gold, reducing its value.
Gold purity is measured in karats. Common karat ratings and their associated purities are:
- 24 karat 99.9% pure
- 12 karat 50% pure
- 6 karat 25% pure
If you have four ounces of 6 karat gold, you only have one ounce of real gold.
The other three ounces are other metals that are alloyed with the gold, so the price you can get for the gold will reflect how much of its weight is pure gold.
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What Is The Gold Spot Price
The spot gold price is the price that gold will sell for today on the spot. This price changes daily and is the standard used by dealers to set their prices to buy from consumers.
It is expressed at the current price that one troy ounce of gold can be bought or sold based on an unfabricated form of gold. Unfabricated means the gold is in a raw form before it is struck as a coin or poured into a bar.
Many factors influence the spot price of gold. Market speculation, current events, supply and demand and other things will impact the rise and fall of spot gold prices. Keep in mind that gold is constantly being bought and sold around the world, not just in the United States.
This 24-hour a day action includes gold being sold on exchanges in New York, Sydney, London, Hong Kong, Tokyo and Zurich. As prices rise and fall in each of these markets, it impacts prices throughout the world.
If you are actively engaged in seeking to sell gold, or will be doing so over a period of time, youre smart to keep up with the spot price of gold to help you get the most money when you sell, and get the best price if you intend to buy.
Use These Seven Nuggets Of Advice To Ensure You Get The Best Deal When Selling Gold Jewellery
Selling unwanted gold can be a quick way to earn some extra cash, but getting the best deal isnt always easy.
There are plenty of specialist cash-for-gold companies to choose from, but these may not offer you the best price.
Selling gold to a high street jeweller or through an online trading website such as eBay may take more time, but its likely youll be offered more money.
Take a look at these tips to ensure you get the best deal when selling gold jewellery.
Find out more: 50 ways to make money our comprehensive money-making guide
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How Much Is The Scrap Value Of A Sovereign
In 2019, the average selling price that we would buy your sovereign for at Warwick & Warwick was between £180 to £200.
Sovereigns are often traded using the term spot or scrap value. But this does NOT mean they will be melted down.
For anyone who is buying sovereigns solely for investing, the condition of the coin is very important, NOT the weight of the gold.
Selling Your Gold To A Dedicated Gold Buyer
Dedicated gold buyers have the infrastructure needed to make the gold buying, smelting and selling process as efficient as possible. As a result they can offer you the best price for your gold.
While they may not be quite as fast as pawn shops, their streamlined process means that you can receive your payment very quickly. Most dedicated gold buyers ask you to send them your gold items so that they can appraise it and determine its value. Once thats done, if you decide to accept the offer, its likely that youll receive the cash the next day.
Dedicated gold buyers arent the best place to sell gold that is likely to continue to be used as jewelry, but if you have gold that is going to be melted down then they should deliver the smoothest transaction and the highest price.
One thing to know is that not all dedicated gold buyers are the same some will pay considerably more for your gold.
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Check The Price Of Gold
Gold prices have been hovering at a 7-year high. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold.
You can also find historical gold prices at Kitco.com. However, it may be futile to try to time the market and sell gold high. Cash in hand today is worth much more than waiting a few weeks or months to see if the price increases a little.
What Is A Gold Spot Price
The spot price is the price that gold will sell today on the spot. The gold spot price is used by gold buyers to set the price they will offer you for your gold today.
Gold spot prices is the value of gold to be delivered immediately after purchase is called the spot price, calculated as the average net value of all currently traded gold futures for the next month.
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Fast Pick Up From Your Doorstep & Instant Cash For Gold
The process of selling Gold is easy and quick. Old Gold buyers usually take a lot of time to complete the Gold valuation. The customer has to wait to get his money which may affect his financial condition. Selling Gold online is convenient with Muthoot Gold Point because we have made sure to fasten the process along with safe, transparent and scientific valuation methods. The entire procedure is quick and consists of straightforward steps. You will get cash directly transferred to your bank account in no time.
We have introduced a mobile van to Mumbai residents to provide a facility to sell Gold near you. It is Indias first Gold van providing services right at your doorstep.
You can contact us online to sell your Gold at doorstep.
Over 24,000 employees serving millions of customer
Walk in of over 1,00,000 customers per day
Find Out How Much You Have To Sell
How much your metal is worth depends on the amount of it, as well as current market prices.
Precious metals are typically sold . If you are selling gold jewelry or a gold coin, instead, the metal is unlikely to be pure. Multiply the percentage of purity by the total weight to find the total amount of gold or other metals that you have.
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Selling Yellow Gold Vs Rose Gold Vs White Gold
Much modern jewelry is white gold, and in the last 10 years rose gold has also become increasingly popular:
White gold and rose gold both also use the karat system to show how much pure gold they contain.
The difference between each of the three colors of gold is the other metals used to make up the rest of the alloy. The different blends of metals give each type of golds its distinctive color.
Typical compositions of 14 karat yellow gold, white gold and rose gold are:
14 karat yellow gold composition:
- 58.5% gold
14 karat rose gold composition:
- 58.5% gold
- 30% copper
- 21.5% silver
The important thing to look at is that each of the three types of gold have the exact same amount of pure gold in them 58.5%.
If you are looking to sell white gold or rose gold jewelry it can still be melted down and refined, and is just as valuable as yellow gold
Recommended Place To Sell Your Gold
Our recommended gold buyer is Express Gold Cash.
When youre selling gold, one of the key things you want is to make sure that you are getting a fair price and ExpressGoldCash offers 90% of the value of gold bullion & up to 85% of the refined value of gold jewelry.
Their commitment to delivering the best price possible includes a guarantee that they will match any offer from any national online competitor plus an additional 10% on top.
The other thing that you want to be sure of with a company that you are selling gold to is that they are trustworthy. Most large we buy gold services ask you to mail in your gold to be valued. If you are mailing something potentially worth hundreds of dollars then you want to ensure that they are honest.
At the time of writing, Express Cash Gold has a rating of 4.9 from 506 Google reviews:
Even more impressively, it has 5 stars from 1,666 reviews on Trustpilot, 93% of which are the top grade:
A business that is offering people money for their gold could very easily receive a lot of negative reviews if people were unhappy with the amounts offered. Luckily, with Express Gold Cash this is definitely not the case.
Finally, you want it to be an easy process. Express Cash Golds is super simple:
1. Request a free appraisal kit
Fill out the form on the Express Gold Cash site and send you a free appraisal kit with a prepaid Fedex envelope to send your item to them Express Gold Cash kit with a prepaid FedEx envelope
2. Send your gold
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Is It Safe To Sell Your Gold And Silver Online
If you use a trusted buyer, it is. As with any industry, there are untrustworthy actors out there. Because of the value of precious metals, ensuring that youre working with a legitimate buyer is key.
First, check shipping policies. A legitimate buyer will offer insured shipping, both for sending and for returns. They will also use trusted shipping companies.
Read buyer reviews on sites like TrustPilot. See what previous sellers have said about the company.
Finally, look at how long the company has been in business. The longer a buyer has been working with precious metals, the more trustworthy they tend to be.
