Sell my Gold Online - Top Tips 2019

Sell Gold Online 2019 – Should I Sell my Scrap Jewellery?

When considering the question “should I sell my gold?” the first thing to ponder is just what makes gold valuable in the first place. 

  1. Gold is a noble metal. It barely reacts when brought into contact with other elements, which means it will never rust or tarnish. 
  2. Gold is rare. The GFMS (Gold Fields Mineral Services) estimate that the entirety of gold mined in the world since humans started mining it is around 171 300 tonnes. This would create a cube with sides in length of 20.7m, and only enough to fill 3 Olympic sized swimming pools!
  3. Gold is easy to work with.  It is malleable (able to be hammered or pressed into shapes without cracking or breaking) and ductile (it can be hammered thin or stretched into wire without breaking).  
  4. Gold is beautiful.  Most people consider gold to be an aesthetically pleasing metal.  It’s the only metal which is yellow, and its physical properties mean it can be cast into many different shapes and you can be assured it will not rust or degrade over time.

The Best Reasons to Sell my Gold

The above list might make you think that you should never sell your gold, but the truth is that gold is not a great investment if you want to make money.  It’s an unproductive asset in that it cannot gain interest, nor pay out dividends, it can go years without rising in value. Contrast that with the idea of investing in a productive asset, such as shares in a growing company, or indeed any other productive economic activity and you can see that in the real world it’s often a better idea to use the money you can realise by selling your gold, and then invest that in something which will actively generate more money for you.

Gold Value at 5 Year High

That’s not to say that you should immediately go out and sell your gold.  If something is of immense sentimental value, that might mean more to you than the money you could get by selling it.  You also need to consider the value of gold at the time you are considering selling it. The value of the yellow metal can fluctuate depending on what are generally worldwide economic factors, though at the time of writing this blog its value is at a 5 year high.

Scrap Jewellery and Gold Buyer

So, should I sell my gold or scrap jewellery?  GoldMonkeys check gold prices daily,  and we will lock in your price once you submit your details to us. If you want to use the money for one of life’s necessities, then probably yes.  If you need some money to invest in a productive economic activity to generate more money, than almost certainly yes.  If the gold has great sentimental value for you, then possibly no.