How Much Is Your Gold Worth: Determining Its Value

Gold is a very strange thing. Depending on who you are and what your need is from gold, you’ll have a very different perception about gold. If you’re a dealer who primarily deals with gold and how it performs in the open market, the rapid and constant shifts in its price can cause you night tremors.

On the other hand, if you’re someone whose has some gold on hand and looking to sell your stock, you will want to find out the exact value of the gold on hand. There are a lot of respectful and well-regarded names in Australia like Gold Bullion Australia that can help you evaluate the true worth of your gold.

However, there are steps you can take on your own to judge the exact value of your gold. This may help you sell gold for a sizeable margin or avoid buying gold for more than its worth. Some of these steps are:

Finding the Current Price of Gold

This may seem like a fairly innocuous thing to do but it’s perhaps the most important thing to do. When it comes to gold, it matters a lot when you bought that gold. There are visible bearish curves as well as bullish curves. Depending on when you buy gold, you can either enjoy seeing the value of your investment grow ten-folds or see it plummet exponentially downwards.

Thanks to technology, it’s surprisingly easy to know the real-time value of gold. Just Google “current price of gold” and you’ll have all the relevant information that you need in terms of gold’s cash value.

You should keep in mind that the price of gold and its selling price are two different things. You’ll hardly ever be able to buy the dollar at its face value. The best source to get an accurate selling price is a trusted gold bullion company.

The Gold Weight

Just like the price of gold and its selling price, there’s a difference in the consistency and quality of gold as well. When it comes to selling gold, its purity is a major factor to consider. The higher its purity, the more money you can expect to make. Gold’s actual worth is determined through the AGW (Actual Gold Weight).

Some of the other factors that you need to consider alongside the gold’s weigh are the mint mark, level of purity as well as the year it became available on the market. This might help you understand why the price of two different stacks of gold differentiates based on their years.

The Melt Value

As the name suggests, this denotes how much your gold is worth when it’s melted. Melting the gold can also help you evaluate if it’s been mixed with other elements such as zinc. The melt value is dependent on the purity of your gold.

However, the melt value losses its importance if the gold you have has a bit of history attached to it. If you have gold coins or bullions that have historical value then the melt value is not as important as it would be in other cases.

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