How Much Is Gold Worth? A Guide for Those Looking to Sell Their Gold

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Did you know that in the year 1915 the price of gold per ounce was around $500 and as of the writing of this post it is $1,905.20 per ounce? If you have a few gold pieces laying around and are considering selling them but are wondering “how much is gold worth?” we are here to help. 

Keep reading to learn more about checking the value of gold. 

How Much Is Gold Worth?

The truth is that the price of gold fluctuates and the price goes up and down every day depending on the market. If you are searching “sell my gold” online you can find several calculators that will give you a current estimate of the price per gram and ounce.

Usually, the way that buyers determine how much your gold is worth is with the London Bullion Market Association that runs an electronic auction system that is called the LBMA Gold Price. This system is recognized globally as the accepted market price for gold. 

Can You Make Money?

Some people want to make money selling gold but are not sure if it is profitable. When you speak long-term, gold has been one of the best investments people make. Usually, when the stock market is in a downward trend it is a good time to sell gold because gold prices tend to go up even as the economy and the stock markets crash. 

Where to Sell Gold?

There are plenty of options when you are ready to sell your gold. Thanks to technology you can even opt to sell online through a reputable buyer. One of the pros of selling online is that more than likely, you will get the best price since online buyers do not have a store with high overhead costs.

If you opt to sell online you simply go to the buyer’s website and fill in your basic information. They will then mail you a prepaid mailer where you will put your gold pieces in and mail it back. Once they receive it, they will make you an offer which you will accept or decline.

For those that prefer to sell in person, you can go to a local jewelry store or a pawnshop that buys gold and sell it in person. When you physically go in to see a buyer they will examine your gold pieces and will make you an offer right away. If you accept the gold price offer you can leave with cash the same day. 

Ready to Sell Your Gold?

Now that we answered the question “how much is gold worth?” you can make an informed decision whether or not you want to move forward with selling your jewelry. With so many factors affecting the price of gold, you can also decide if now is the best time to sell gold or if you would rather wait until the price is up higher. 

Did this blog post on the value of gold help you out today? Please feel free to keep browsing the rest of our site for some more helpful reads on gold prices, investing in silver, coin collecting, precious metals, and much more.