Is this a Good Time to Sell My Gold?

If you have been paying attention to dropping gold prices, you probably believe that this would be a very bad time to sell your gold. It seems like a far better time to buy gold now and hold it until prices bounce back.

 Image of "Cash for Gold" signholders for Specialty Metals blog post, Scams to Avoid when Selling Precious Metals, courtesy of Comedy Central and South Park.

But the fact remains that there is no one answer to the question, “Is this the time to sell?” Even when prices are low, your circumstances could dictate that selling now might be a very good idea.

Those circumstances could be . . .

  • You acquired gold at a lower price than its current trading level, so selling now would represent a net gain for you. If you make a sizeable profit from selling your gold for more than you paid for it, the current trading price might not be a relevant concern.
  • You could use the money that is tied up in your gold holdings to make opportune investments in real estate, fine art, or other assets that will appreciate in value. And remember, you could receive a usable sum of money by recycling only a part of your gold holdings. (Nobody can require you to sell all the gold you own right now, correct?)
  • You can use the cash you realize as a tax-deductible charitable contribution to a college, a hospital or another institution that you support. Depending on your tax bracket and other considerations, it could be a strategy that will minimize your taxes, offset the current low price of gold, and help you support a favorite institution too.
  • You own gold-bearing items that need to be recycled, not bouillon, and you don’t know just how much money you stand to gain by recycling them now. They could be gold dental scrap, gold-plated decorative items, a large quantity of printed circuit boards or other electronic devices that need to be tested by a qualified gold refinery like us. You could get a much bigger payment for those items than you expect.
  • You are making a new estate plan. Instead of holding on to valuable precious metals and having your heirs pay inheritance tax on them should you die, perhaps you should liquidate them and put the money you get into a trust or other vehicle that will serve to minimize inheritance taxes. The attorney or other expert who is helping you plan your estate can offer you the advice you need.

How Much Are Your Gold-Bearing Items Worth?

If you are not sure call us at 800-426-2344 to find out.