If you have gold jewelry or other items made from this precious metal, it’s almost as good as money in your pocket. At any time, you can get cash for gold from a local pawn shop or jewelry buyer. So why should you sell your gold now?
The Relative Price of Gold
There are several standards for measuring the worth of gold versus the rest of the economy. Comparing an ounce of gold to the price of a man’s suit, or 300 loaves of bread, or similarly rare metals gives you a rough idea of how inflated the price is. And right now, by all of these standards, the price of gold is extremely high, at over $1,200 per ounce. Selling your gold now is the best way to take advantage of that value.
Not a Stable Way to Store Value
There are those who hold onto gold because they believe it’s proof against market fluctuations and financial crisis. According to this common wisdom, gold will keep its value no matter what happens, even in a complete economic collapse. However, this isn’t the case. The price fluctuates like that of any other commodity, and it is difficult to trade for necessities in an emergency. And in the meantime, it’s more vulnerable to theft than your bank balance. There’s no reason to hang onto it for its inherent value, and you’re better off getting cash for gold.
No Practical Use
When you think about it, why do you actually own gold jewelry to begin with? The only real reason to hang onto it is if you wear it regularly. Even then, if the piece has no sentimental value, you might still be better off with something less expensive to accent your favorite outfit. When it comes down to it, you could do more with its value in cash.
If you’re hanging onto jewelry or trinkets, now is the time to sell them. Your bank balance will benefit immensely from this one simple move.
American Coins & Gold has several locations across the Tri-State area. Whether you’re looking for jewelry and rare coins, or you’d like to get cash for gold, they’re the place to go. With trustworthy appraisals and fair prices, they’ll give you the best deal around for your items. To get in touch, call the Bridgewater, NJ, branch at (908) 575-9400, the Wayne, NJ, shop at (201) 628-4800, or the Garden City, NY, location at (516) 742-0900. You can also visit them online.