As an entrepreneur and business leader, you know that investing extra profits is the only way to keep your money. Period.
With the price of the dollar decreasing, stagnant money equals draining money. Last year (2017), the average inflation rate in the United States was calculated at about 2.1%. This means, that as time goes on, your money is worth less, and thus able to buy less.
If you want to really hold on to the worth of your money (and increase it too), you’ve got to put it someplace where it will grow faster than the dollar value is dropping.
The question then becomes: is gold that place?
Why Invest in Gold Stocks, Coins, and Bullion.
The aim of gold investments, just like any type of investment, is to ‘store’ your money someplace where it can slowly compound on itself. In terms of gold, this means buying a gold item at one price, and selling it for a higher one.
It’s like any consumer trading company.
Except for the fact that the price of gold increases inherently.
While a company has to deliberately shift its price of product purchase and resale, gold investors simply have to wait for the gold price to change on its own.
Gold investors often find security in the notion of having their money tied to something other than just money. When you keep your money in a bank its interest and worth relies solely on the dollar value. However, when you convert your money to gold, you are affixing your money to something more than just dollar value.
This creates a kind of safety net.
Is Investing in Gold Actually Worth It?
Here’s an example to help you decide for yourself:
Say you bought an ounce of gold in 2008, when gold was worth $869.75 per ounce, and you sold it now at market value for $1,282.37- you would technically make a profit of $412.62. However, you also have to take inflation rates into account. So, the $869.75 that you originally put into the gold would have the same buying power as $1,020.85 now. Which means, with inflation in mind, you only made $261.52 in today’s market.
Now, let’s compare this to holding. If instead of investing in gold, you held your money in a bank earning an average of 3.5% interest compounded monthly, your $869.75 would turn into $1,749.68 in 2018. And with inflation adjustments your net profit would be $728.83 in today’s market.
Is Now a Good Time to Sell Gold, 2018?
At this point, you want to consider whether or not it’s worthwhile for you to sell your gold and place your money somewhere else.
If you decided yes, your next step is to look at gold price trends and figure out whether right now is the right time to make that investment switch.
On a micro level:
Gold prices are actually lower this summer than they’ve been all year. As of late the price of gold has been lingering around $1,280 per ounce. However, just during this past January, the price of gold per ounce peaked at about $1,356. Though the numbers may seem close, when you’re dealing with selling investments, the difference can be worth it.
On a macro level:
According to recent statistics, the gold market value is greater this year than it has been in about five years.
Where is the Best Place to Sell Gold Coins, Jewelry, and Bullion?
When you’re ready to sell gold for a payout and relocate to other investments, your best bet is to sell for cash to a private jewelry buyer, according to info on Luriya.com
Because they are small and/or privately owned, local jewelry buyers generally have the means and the funds to pay you the most for your gold. And since they make their own rules (unlike workers at department stores), local jewelry buyers won’t mind giving you a little more for your gold if you haggle well enough.
Aside from local jewelers, you can also sell with auctions or to pawnshops. This is only recommended if you’re in a hurry, or if you really don’t have time to sell in-person. You likely won’t get the highest payout at one of these places- pawnshops are known for being stingy, and auctions are known for charging exceptionally high service fees.
Additionally, there is the risk when listing your gold with auctions that the highest bid won’t actually be the highest price your gold is worth.