From analyzing inflation rates to evaluating supply and demand, there are many things to consider when putting a price tag on precious metals. American Coins & Gold, serving customers in New York and New Jersey, wants to help you understand the many components of the appraisal process. Below the silver and gold buying experts offer a guide so you can get top dollar.
Silver & Gold Buying Guide to Determining Value
1. Supply & Demand
In terms of supply and demand, silver is actually more valuable than gold. Since it is used for industrial purposes, silver’s demand tends to remain constant, and it will have a higher price tag during times when supply is limited. Gold, on the other hand, is not as sensitive to changes in supply, which keeps its value more consistent.
2. Global Inflation
While global inflation decreases the value of the dollar, it does not change the value of precious metals. One of the reasons why many people continue to invest in gold and silver is because they act as a reliable backup currency, even when the dollar’s value plunges.
3. Gold Versus Silver
There is typically a direct relationship between the price of gold and the price of silver. For instance, whenever the price of gold rises or falls in value, silver is not usually far behind it. However, the same is not true in the reverse scenario, as it typically takes gold longer to catch up with the rising price of silver, since gold is rarely in as high a demand.
Whether you want to buy beautiful pieces of jewelry or sell your coin collection, allow the friendly professionals at American Coins & Gold to provide you with the best deals. Give these gold buying experts a call at (201) 628-4800 today to speak with a knowledgeable representative about how to get cash for gold. Visit them online to learn more about gold buying and other services.