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Finance

What Is the Current Value of Your Gold Coin?

When you try to sell your car then you first try to assess its market value by doing research and through enquiries. In the same way, when you try to sell your gold coin, you must try to assess its price from various sources so that you can get right returns for your investment.

Usually, the price of the gold coin is indicated in terms of 1 oz gold coins for sale. It is declared everyday before the trading activities start. You can always find the rate of gold of the current date by visiting the particular website.

Had you purchased sufficient quantity gold in the year 1970 at the rate that was prevalent during those days, then to day you could get at least 30 times of its price that you paid during that time.  So, if you invest today on any gold coin at the current rate and simply store them in your locker and don’t do anything, its price can shoot up to a very high value in distant future. However, you must note that the price of buying gold and selling is not the same. Any local coin dealer will explain you on what basis will he buy your gold coin if you ever decide to sell it to him.

How to find the value of your gold coin?

You must have heard that gold is expressed in terms of carat and the gold can be anything from 14 carat to 24 carats. This will indicate the consistency and quality of your gold. Higher the value of carat it will be nearer to 100% purity of the gold. If you want to sell your gold coin then you must first of all find its actual weight.

This weight will be its raw weight and multiplied by its purity factor. You need much more refined balance to find its weight which is normally available with the gold dealer. In order to find the purity of your gold, you need to do research. There are data base available with coin value and its purity based on year, mint mark and size of your coin.

Find the melt value of your gold coin

If your gold is melted, then how much gold that you will get, which is not its actual weight of your coin. Many other materials like zinc, or any other low-cost materials may also be mixed with the gold. Therefore, your gold coin will really cost you as much gold you obtain after melting the gold coin.

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