What to Know About Selling Gold in Denver
Most things in life tend to decrease in value over time. After all, that new car you have depreciates as soon as you drive off the lot. The same is true for things as varied as office equipment and technology. However, there are a few things that consistently maintain – and even increase – their value. Perhaps none is a better example than gold.
Whether you have some scrap gold lying around or you want to sell gold jewelry in Denver, you have the potential to put some extra cash in your pocket simply by visiting us. Let’s take a look at everything you need to know about selling scrap gold in Denver.
What is Scrap Gold?
If you haven’t heard the term before, you may be asking yourself, “what is scrap gold?” Chances are you have some scrap gold lying around your house. Scrap gold essentially means gold that is no longer useful in its current form. A good example of this is broken jewelry.
Scrap gold is sent to refineries where it is melted down and recycled back into a usable form, typically as new jewelry, or some type of industrial product. Thus, the gold you have can still have some value by being recycled back into a new product.
How Much Gold Is in My Gold?
If you are looking to sell gold in Denver, you probably are wondering how much gold you have? After all, you probably already know that gold jewelry is not completely gold. The reason for this is simple – gold is soft. Well, it is soft for metals. Gold is very malleable; thus, it needs to be mixed with something in order for jewelry to be more durable.
When gold is used to make jewelry, it is typically mixed with another metal that has stronger properties. The most common ones used are copper, zinc, silver, and palladium. This creates a metal alloy that is stronger and more stable. After all, you wouldn’t want your wedding ring to easily dent, would you?
The proportion of gold to other metals in jewelry is measured by something known as a karat. If you’ve ever wondered what the “k” in 24k means, this is the answer. Karats are measured using a number that ranges from 0 to 24. A higher number means your jewelry has more gold and less other metals.
If you want to sell gold jewelry in Denver, you may want to get a sense of exactly how much gold you have to sell. This is relatively easy to figure out. Simply divide the number of karats of your jewelry (it should be stamped somewhere on it) by 24. The answer shows the percentage of gold. For example, 14k would be 14/24, or 58.3% gold. 24k is essentially 99.9% gold.
So How Much Will I Get Selling Gold Jewelry in Denver?
When people come to use to sell their gold jewelry in Denver, the thing they most want to know is how much money they can make. This is a bit difficult to answer in a blog. After all, the price of gold changes daily.
Like many things, the value of gold is determined by a worldwide market. This means that the price frequently goes up and down. Thus, it is impossible to put an accurate price in an article because it will have changed by the time you read it.
Thus, if you are interested in selling scrap gold in Denver, the best way to find the value of your gold items is simply to come into our store. Our professionals will be able to assess your gold and make you an offer based upon the current value of gold.
Why Does the Price of Gold Fluctuate?
Gold is a traded commodity, which means its value fluctuates frequently. There are a number of things that affect this, many of which are related to supply and demand. These are the major things that will affect the price of gold:
- Gold production from mining
- Demand for gold to make products
- Investment demand for gold
- Amount of gold and currency in central banks
- Value of the U.S. dollar
These are the major things that affect the price of gold. Fortunately, gold is very stable in terms of its value, so fluctuations tend to be relatively minor over the short-term while gold has tended to increase in value over the long-term.
How Do I Sell My Gold Jewelry in Denver?
Whether you have gold jewelry that you no longer want, or you are interested in selling scrap gold in Denver, the first step is to come visit us. Our professional staff will be able to evaluate your gold, determining the amount and weight of gold you have.
This is then used to compare to the current fair value, allowing us to make you an offer to buy your gold. Once you have our offer, you can decide to sell your gold to us, or you can decide to keep it. There is absolutely no pressure, and we are happy to assist you any time.
There are many places for selling gold in Denver; however, bringing your scrap gold to us is by far the best choice you can make. Unlike other places like pawn shops, we will make you a fair offer based on the current price for scrap gold. We also won’t pressure you to decide to sell.
When it comes to selling gold jewelry in Denver, you will get more money and a positive experience by visiting us. Stop in at your convenience.