Jan
24
2010
You will find that there is no more opportune time than the present to sell gold jewelry. Do you know why? Unless you have not heard the news, you have been lost on a desert island someplace, or you have been too preoccupied obsessing over all of the negative news about the economy nowadays to pay attention to the good news, the price of gold is on a meteoric rise as of this writing, valued at well above one grand per ounce. That is correct, you didn’t misread: You ought to be selling gold jewelry now because it is valued at well over one grand per ounce!
Gold has been on a consistent rise over the last ten years, averaging well above twenty percent each year, the sole exception being a five percent loss in the year 2008. Even in the year 2009, gold managed to rebound from the global recession and climb back up again already, at a 23% increase from 2008 levels!
So what does this mean to owners of gold? It tells you that despite cyclical bubbles and busts, and the rise and decline of the dot coms, the boom and bust of real estate, the decline of the stock market, and the devaluation of the US dollar, have all proven to be extremely volatile investment vehicles, the only stable investment throughout this entire period has been none other than gold.
So if you have been in possession of gold for some time, now would be a perfect time to cash in on it, if you are hard up for some cash as a result of this global economic recession that we have all just been through.
So where should we be selling gold jewelry? To whom should we be selling gold jewelry to? How can we be sure that you redeem the best price?
These are all very important questions. The answer is two-fold:
1. You should avoid selling gold jewelry to a retail store, a pawn-shop, or jewelry exchange. Essentially any type of customer-oriented retail shop is a terrible idea. Why is this the case? This is because these shops are in the business of buying and reselling gold. They need to procure gold from you with the intention of reselling it right away, while earning money during the process. They are basically gold brokers and are seeking to earn a commission using the classic “”buy low to sell high” strategy. So it is quite natural, that they would be be dealing narrow margins of profit and wouldn’t be open to offer you the price that you would like.
2. You should be reselling your gold to a refinery of gold. Why is this the case? Because a refinery of gold does business by obtaining gold, melting it down, and redistributing the gold raw material to other businesses. There is no middle man. There is no flipping gold for profit. They can offer a superior price for your gold because the margin of profit in this type of situation is higher. So it makes for a win-win solution that satisfies both you and the refinery.
Gold remains a rock solid investment, and has remained so while we have seen the boom and bust of the dot coms, the housing bubble, the stock market crash of the year 2008, and the devaluation of the dollar. So now is the best time to be selling gold jewelry
Tags: cash, cash 4 gold, cash for gold, gold, jewelry, money, Silver
