Gold valuations can be checked daily on the internet.
Precious metals are excellent safe haven assets that help to always have economic capital blocked. Gold hardly devalues. The last time was in 2020 with the lockdown of the economy due to the pandemic. From then on it was revalued by more than 20%. Speaking in terms of figures, those who purchased €1,000 of gold in this period today have a product worth €1,200.
Therefore it is an asset that can be worth buying or reselling. The gold evaluation takes place considering whether it is new or used gold. The latter is worth less, but is quoted based on any wear or in any case based on the type of jewel.
However, when you buy used gold you have the same valuation, in the sense that when you sell it from a private individual to a jeweler it is worth less than new gold. Except that if purchased from a used gold jeweller, the products are still worth less than new gold jewellery.
HOW MUCH IS GOLD WORTH?
Gold valuations can be checked daily on the internet. Every day it is possible to notice fluctuations. However, do not believe that when you go to resell or have your gold valued, the jeweler will respect the daily price exactly.
There are many elements that are taken into consideration during an appraisal. The rule should be to evaluate exclusively the weight of the metal, but it is a rule not a law. The jeweler or goldsmith who makes the evaluation can take into consideration: type of jewel, work to restore it, costs of cleaning the gold that has oxidized or what the costs are to melt it and work it again.
This brings us to the awareness that if 1 g of used 24-carat gold (therefore pure) is worth €60, in reality they could value it at just €46. For all factors taken into consideration.
The best thing would be to buy small gold ingots or plates that are not jewels because there are no jewels on them, they do not require maintenance or restoration and above all they are pure metal.
When deciding to resell your gold you must also check what the prices are in your area. In large cities it is possible to have a low rate. While small towns offer a higher price.
Make sure yours is gold
Gold is not always pure gold. 24 karat is considered pure because it has a large percentage of original gold within it. While 18 karat has a presence of gold equal to 75%, therefore the rest is made up of other metals which pollute it and devalue it.
By checking the daily prices it is necessary to know the carat of your gold since often you can only find the price of 24 carats. So you convince yourself that you have a little treasure in your hands, clutching your jewelry, only to have the nasty surprise and discover that the gold is 18 karat or even lower.
Don’t stop at just one professional. Better to have more evaluations done to know the characteristics of your gold and check the proposal that seems most attractive or convenient.
