The second half of 2020 marked a banner period for gold, as its price per pound surpassed $20,000 for the first time ever. Amid the economic downturn and uncertainty caused by the COVID-19 pandemic, investors rushed to gold as a safe haven investment and hedge against the shorter-term risk of traditional markets.
The beauty of gold has captivated humans for thousands of years, and while it has always been cherished and sought after for its shine and elegance, it also used to serve a much larger purpose.
During the era of the gold standard, gold was a critical component of the global economy, affecting everything from international trade to the value of currency.
Here is a closer look at how the gold standard and fiat money compare to one another and why both are still important to the present-day economy.
Selling jewelry and gold can always be a great way to turn old, tucked-away items into cash – especially when the price of gold is as high as it is right now. But before getting involved in the market, it can be helpful to understand exactly what you’re getting into from a selling perspective.
Here are 13 key gold and jewelry terms to know to help educate yourself.
Because the price of gold is higher now than it has been in years, many people are looking for the best possible way to turn their gold and other precious metals into cash.
When it comes to making quick cash, many people turn to pawnshops as a means of turning their gold, jewelry, and other items into money. On the other hand, many prefer to sell their items outright to get the process over with quickly and to walk away with cash in their hand. But which is better – pawning or selling?
Jewelry has a high retail markup compared to an item’s actual market/secondary value. Here is a breakdown of the key differences between pawning and selling to help determine which can produce the best value for your gold, jewelry, and other precious metals.
Most people are familiar with the common practice of selling their old gold or silver jewelry, but your old dental work may also have a fair value of its own. If you have old dental crowns or bridges stored away that you’re not sure what to do with, there’s a chance they may contain gold or other precious metals.
Here’s a breakdown of everything you need to know about how to sell your dental gold.