Tips To Get The Highest Used Gold Valuation Per Gram Today.
If for any reason you don’t want to or can’t move, the only advice I can give you is to read my article on how to choose the gold shop where to sell used gold in your city.
But if you can move around and are willing to travel miles to get the most out of the sale of your metal, then I suggest you add those suggestions as well as the ones I’m about to write:
Quantify the metal to sell.
The first aspect to consider is purely mathematical: how much gold do you have to sell?
If you have a few tens of grams, it doesn’t make much sense to look for a gold shop hundreds of kilometers away.
To take Mattia’s example again, if you have 20 grams of gold, even if you pay 9€ more per gram, the 180€ earnings would barely be enough to cover the expenses of a possible trip.
Increase your search radius.
Do not fossilize only on the gold shops of your city but broaden the range of the search. The extent depends primarily on the amount of gold to be sold but also on the place where you reside. You have to weigh both things and then choose. I explain the concept better.
You must know that the highest prices are found in Rome, then in Milan and gradually in the other smaller cities. I don’t mind the gold buyers from other cities, but this is the truth. Competition in the capital is very fierce and gold purchase prices are on average higher than in the rest of Italy. However, this does not mean that you necessarily have to go there to sell.
Rome is the place to find the highest gold valuations.
For example, if you live in a small town in Lombardy and have 80 grams of gold, it may be sufficient to go to Milan without necessarily going as far as Rome.
In fact, despite the higher rating, the time spent and the travel expenses that you would have to incur would almost certainly make you lose all your earnings. The matter would be different if instead of 80, the grams of gold were 250-300 for example. In that case, it would certainly make sense to ask some gold buyers for information in Rome and do the math well.
The cross-evaluation.
Once the scope of the search has been established, choose the best gold buyers and get a nice telephone evaluation, to do so use my article on ” how to choose the gold buy ” as a guide.
Always consider the expenses you have to incur to go to the chosen place: if you choose the train consider the return ticket. Petrol and toll booth if you prefer the car. The plane or the ship if you live on an island etc. Also, include the time it takes to get to and from your expenses. Can you take a day off, or do you just have a couple of hours off? Do you have to close your business to move?
What is the maximum rating I can get?
The evaluation of the gold used depends on many factors, such as the quantity of metal you want to sell, the presence or absence of precious stones, or important manufacturers. Without forgetting that the stock market price of the metal varies continuously.
It is therefore impossible to give you a finite price, a numerical value. But what I can do is give you an indication of the spread that a trader applies. The spread is the difference between the market value of the metal and the withholding that the trader applies to make the right profit from the purchase of the metal.
Knowing the value of the spread is enough to see the metal stock price at any time, to calculate the final price that you can get from the sale of gold.
Thanks to the presence of more and more shops and metal banks specializing in the purchase of gold, selling your products is quick and easy. However, we must try to pay attention to some precautions to avoid scams in the context of the sale of gold.
Everyone is looking for a place to sell gold at the best price. But know that if the price for used gold is 20 euros, no one will buy it for 30 euros per gram. Advertising that says otherwise is certainly misleading; it probably refers to the cost per gram of pure gold with particular characteristics. Do not be under any illusions: the prices are the same, and it is useless to travel hours to reach a gold shop that promises prices absolutely out of the market. Try to go to the metal counters, where you can sell your jewels and your gold in complete transparency.
Gold investment funds have experienced impressive growth in recent years. The economic forecasts caused by the trade war and, more recently, by COVID-19, have caused investments in this refuge asset to skyrocket, generating very attractive returns.
Although investment funds in gold seem like a great option to invest our savings, we must take into account their advantages and disadvantages to know if it is the option that best suits us at the moment or if, on the contrary, another investment option or savings would be better for us.
One of the assets that are offering the best profitability during 2020 is gold. So far this year, the yellow metal has produced high returns (+18.20% EUR as of 10/23/2020) that contrast with the low returns obtained by much of the stock market, especially the European one (-10 .95%).
To be able to visualize in a simple way how gold acts as a refuge asset during bearish stock markets, we show you below a graph where we compare the profitability of gold (EUR) and European equities during the 5 worst annual results of the European stock market of the last 20 years.
A Gold IRA is a self-directed personal retirement account intended specifically for holding precious metals. Similar to a standard IRA, a gold IRA allows for pre-tax contributions and deferred accumulation of investment income. The contribution and income ceilings are identical.