Guide to Sell Gold Bullion in Nashville

They say that knowledge is power, and when it comes to selling your gold, it's best that you're armed with facts about gold and common practices in the industry so that you can make well informed decisions. This is an industry where it's hard to know who to trust and who might be trying to take advantage of your lack of experience.

We want to impart some of our knowledge and experience to you so that you'll feel confident that you're making the right choice when selling your gold. We believe that doing business with well informed customers helps to develop a level of trust and comfort when conducting transactions; more likely resulting in continued business and long term relationships.

Factors that Determine the Value of your Gold

1. Spot Price of Gold

The spot price of gold (current price per troy ounce) is determined by the futures commodity market. Incidentally, that rate fluctuates throughout the day.

2. The Weight of your Gold

The weight of your gold is one of the largest determining factors in accessing the value of your gold. Even low quality gold can be quite valuable if you have a heavy enough item.

As mentioned above, the spot price of gold is calculated in troy ounces. Dealers will often provide you with a quote in troy ounces, grams, or pennyweights. A troy ounce differs from a standard ounce in that it contains 31.1 grams as opposed to 28 grams. Prices quoted in troy ounces will always be less per gram than prices that are quoted in standard ounces. One pennyweight is equal to 1.555 grams.

3. Purity of your Items or the Karat of your Gold

The higher gold content of your item, the greater its value. The purity of gold can vary substantially, so it's important to have a general understanding of how the karat of your gold translates into the purity of gold.

Gold bullion, bars and ingots minted by private mints are typically composed of .999 fine gold. It's common for the bar or ingot to include a stamp that states the fineness of gold, the mint (the company that manufactured the item), and an assay number on the item. All of which allows buyers to confirm with the mint that the item is authentic. Read the mint state gold review for further details.

Finally, the condition of your gold item(s), with the exception of gold coins, should not be a factor in the price that you're quoted by a gold dealer. Our recommendation is to walk away if a dealer attempts to reduce their offer due to the condition of your items.

Ready to receive cash for your Gold Bullion?

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