Selling Gold? Treat it like a race and go for Gold!!

Life‘s confusing it’s all over the place. But if you’ve got Gold jewellery bullion or coins, then you’ve got real value. You can cash it anytime. Don’t believe anything but your own knowledge. Start there. Understand that Gold is treated around the world at the daily spot market price. That’s the price of gold for one troy ounce of pure gold. That’s it 31.1 g of pure 24 karat gold is the daily spot market price so. In Canada currently the daily stock market price is around $6000 Canadian. That means that for $6000 Canadian, you can buy one troy ounce of gold and a troy ounce again is 31.1 g if you buy that troy ounce of gold, you’ll either pay a small premium above the spot market price for the dealer and the maker of the coin. Generally speaking, this can be 345 even 10% above the gold value. When selling old gold like a gold coin, you could expect perhaps a small premium or even a slight discount below the daily price of gold. This is because the dealer or buyer needs to hold the coin and try to resell it. And they need to make a cut to run their business. This cut or percentage is generally A few points below the daily stock market price anywhere from 5 to 10 would be pretty low. Depending on the market volatility in a number of factors this is around the daily spot market price. Now when selling your old jewelry, gold or silver you really need to understand how this process works. When the gold buyer buys your jewellery from you, they are simply buying the pure 24 karat gold that is in your jewellery so if you have a pile of jewellery of mixed carrot, you can simply make the calculation per gram at 24 carat then times it by the carrot that you have. That will give you the daily value of your gold when you sell that gold or transfer the value. You should expect to get 20 to 25% below the daily spot market price never sell below 25% as that is very bad. Most gold buyers will never disclose their percentage. This is the fee they are taking and they post their rates. When you see their rates, this represents a percentage below the daily stock market price. You should always ask the Gold buyer that you were selling to how much they are taking. What is the percentage they are taking on your value. This is important to know because your gold is real money and it is just a transfer. Just like a currency transfer you would always understand the percent that the cur currency exchange was taking the same goes for gold and silver exchanges.