The holidays can be an expensive time of year: there’s décor, gifts, travel, parties, food — the list of expenses can go on, depending on how hard you go with your celebrations. In fact, the average Canadian household spent an approximate $1,841 over the holidays last year.
Are costs adding up for you? Perhaps you’ve seen a phenomenal gift, and your budget doesn’t quite stretch to covering the whole cost. Or you’d like to fly across the country to spend time with family and you’re now sticker-shocked by the cost of flights. If you’ve been concerned about how you will finance your festivities this year, selling any gold you have is a great option for fast cash.
If you’re new to selling gold, don’t worry — you’ve come to the right place. Read on for tips on getting the best cash for gold in Barrie, and beyond!
How Much Is My Gold Worth?
Whether you’re looking to sell damaged jewellery, old coins, antique jewellery, bullion or otherwise, the price will vary based on current spot prices, the purity of your gold, and the weight.
The Spot Price
The spot price or market price is the global standard price for a commodity. With gold, it varies daily due to many economic and political factors. The invasion of Ukraine in early 2022 helped gold reach a record-high price in March of last year. It again peaked this year due to instability in banking and soaring interest rates in Canada and across the globe — making now a great time to sell!
That said, if you need the money, there’s never going to be a bad time to cash in.
The Purity of Gold
The value of your gold will be impacted by its purity. Some telltale signs can help you establish the purity of your gold yourself. For example, a piece stamped 18k generally means that it’s 75% pure gold. You can also use a magnet to test your metal to ensure it’s not gold-plated — pure gold won’t attract a magnet.
That said, finding a trusted buyer is the safest and most reliable way to establish your gold’s purity and consequential value. Experts can generally identify real gold right away based on the item’s weight, though they’ll be able to clarify its purity further by using high-tech tools and leaning on their years of expertise.
How Do You Find a Reputable Buyer?
It’s vital you find a decent, reputable buyer who has your best interests at heart; finding a store that specializes in selling precious metals is likely your best option. While pawn shops and flea markets offer on-the-spot deals, they often don’t offer the best rates.
Be sure that your specialist location does the following:
- Showcases reviews: Positive reviews from past and present customers are understandably a reassuring sign.
- Lists current spot prices on their website: Such transparency is always a good indicator.
- Notes years in business: A business rarely thrives by scamming people or offering poor customer service. Any company that’s surpassed at least one year in business is doing something right.
- Gives you a good feeling when talking with them: As with most things in life, go with your gut. If it doesn’t feel right, it’s probably not. Trust your instincts and be firm about them.
The Bottom Line
For many, the holidays are a fantastic period at the end of the year to get together with friends, family, and loved ones. Don’t let being short of cash keep you from having the best time this December. If you have gold assets sitting and collecting dust, cash them in and make this holiday season the best it can be!