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Have gold? Now's the time to sell
If you have any gold sitting around now might be the time to sell. Gold prices have hit an all-time high. Gold is currently sitting at about $1600 per ounce. This means gold is more expensive to buy.
So now is a good time to cash in.
"Totals looking to be about four hundred eighty two dollars and sixty cents. Wow."
This offer is looking pretty appealing to Kent Theesen.
"I don't like to make a real quick decision but, you know, four hundred dollars is four hundred dollars," said Theesen.
He decided to stop by the Premiere Estate Buyers event to see how much money he could get for his old jewelry. And, what Theesen found out, has him going for gold.
"Actually I've got a couple other rings that uh after what I've found out today, yah, I could definitely use the extra cash," said Theesen.
Gold has just reached an all-time high.
"Yesterday it was just over $1600 an ounce, so, which, nine years ago when I started here it was just under $400 an ounce, so it's increased significantly," said Sartor Hamann Manager Jessica Brumley.
Why? Debt problems in the U.S are making the dollar unreliable.
"A lot of it's on the weak dollar. I mean that's, that's going to play, until the economy increases or gets better," said Brumley.
Gold, on the other hand, retains its value. It is the weight and karat of the gold that determines that value.
14 Karat gold is actually 58% pure gold. So one ounce of gold in a 14 Karat necklace would be worth 58% of $1,600."
That means that one ounce of 14 Karat gold would bring you in about $900 at market value.
"If you have any scrap jewelry laying around, um ten karat, fourteen karat, eighteen karat, doesn't really matter, it's gonna bring you a good check. That kind of thing will guarantee you a check," said Premier Estate Buyers Field Manager Brian Batta.
But if you are selling, you should be cautious.
"I just tell people buyer beware. You know you have to make the best decision for your, for yourself, you know and just, maybe get a few options," Brumley said.
If you are planning on selling, there are a few tips that you should follow. Know the weight, know the karat, and know the current price of gold. With that information, you should be good as gold.
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