We Buy Gold – How Much Is Your Old Gold Worth?

You’ve seen the ads online: We Buy Gold! With the price for an ounce of gold hovering in the neighborhood of $1,800, you may be tempted to pull out your old high school ring and the bangle bracelet you don’t ever wear and cash in on the high prices. Before you do, we think you should know a few things about how the “we buy gold” companies determine prices and how much your old gold jewelry and coins are worth.

How Much Is Your Gold Worth?

The value of gold fluctuates day to day and even from one hour to the next. That’s why no gold buyer will advertise a set price for an ounce of gold. The most reputable gold buyers will tell you how they determine the price they offer you though. We at GoldSeller, one of the most trusted online gold buyers, tell sellers that they base their price on the price of gold as quoted by the London afternoon fixing on the day of settlement. Unless you’re a gold investor, that may sound like so much gobbledygook to you. The London afternoon fix is the most widely quoted and most familiar spot gold price in the world, and is set daily at about 9 A.M. Eastern Standard time. It represents the most current price for gold on any given day. When you do business with a “we buy gold” buyer, it’s important to know where they base the price they’ll pay for an ounce of gold. If the website doesn’t tell you, come on over to ours.

Of course, the gold spot price isn’t the amount the gold buyer will offer you for an ounce of gold jewelry. That’s the going price for an ounce of pure gold. The price you’ll get will be modified by the purity of the gold in the items and a handling fee that goes to the dealer. The higher the karat designation of the gold jewelry, the more we'll offer you for your items.

When deciding where to sell your gold items, choose a we buy gold dealer with an excellent reputation for honesty and a long history in the gold exchange business. At GoldSeller, we've been in the gold exchange business for more than 30 years and carry a high rating from the Better Business Bureau. If you decide to sell your old gold jewelry or coins, be sure to do business with a reputable buyer like us.