Gold prices have been increasing by more than 70 percent in the last three years, and consumer demand for gold jewelry has increased by 13 percent, while the demand for golden bars and coins spiked 26 percent. With these different events forecasting a good market to sell gold in, it leaves the question of what to sell. So, where can you find gold around the house?
The Unlikely Candidate
You may be surprised how much gold is contained in some of those old trophies and “participation” metals you’ve thrown out in the garage. According to a Huffington Post article, the famous Oscars statues contain approximately an armful of gold. Although, these Oscars may be covered with a thin layer of gold and contain a much cheaper, more common metal inside. Gold plating – using a gold coating and another metal for the bulk of the object – is something to look out for when selling gold and silver jewelry as well.
Don’t Underestimate the Jewelry Box
Of course, it is best to start with the most likely source of gold in your home: your jewelry box. The vast majority of gold jewelry has a stamp indicating whether the item is made out of gold, which ranges from 5K to 24K. Even your broken and mismatched jewelry has value in its internal contents.
Coin Collections are Made to be Broken
While not abundantly common for selling purposes, coins can have traces of gold and silver that can pay off. Although most American coins still in use today are made out of copper, if you are a coin collector, there is a pretty good chance that you have at least some gold. For instance, many foreign countries still use gold bullion coins, which are more profitable to sell than American currency.