A gram doesn’t sound like much and it’s really is quite tiny. A one-dollar bill weighs about one gram. A nickel weighs around five grams. And a US Quarter Dollar weighs in at a whopping 5.7 grams. So far there is no reason to get too excited because these mundane objects are nearly worthless anyway. But when the price of gold shot to over a thousand dollars an ounce a gram of pure 24K gold was worth $32.00.
Wow! Think about it. A gram of pure gold weighs about the same as an average paperclip. If you had ten grams of gold (the weight of about ten paper clips,) you’d have $320.00 at the spot price. And if you had an amount of pure gold equal to the weight of a box of 250 paperclips you’d have a treasure worth around $8000.00 at the retail level.
A gram is so insignificant that most people don’t have a working concept of what a gram is. This is why many sellers often accept far less than their gold is worth when they sell. Some people are willing to accept 15 or 20 cents on the dollar because they really can’t understand how something with so little weight can be so valuable. Unless you understand the rules of the gold broker game it’s very likely you will end up accepting far less for your little treasure than it is really worth.
The buying and selling of gold has been around for centuries and there are a number of fundamental rules and formulas that have evolved. You must understand these riddles before you sell scrap gold if you want to get the best price. You don’t have to be a genius to get a fair bid for your gold but unless you understand how your gold is being valued it’s likely that you will end up with a loss. And the more gold you have to sell the greater the loss can be.
Don’t be asleep when if you sell scrap gold. You need to understand karat weights, pennyweights, conversions, scales, and a lot of other little secrets gold brokers don’t want you to know. The value of gold is mysterious unless your prepared when you sell you’re likely to become confused in a hurry.
Many speculators believe gold will double in price again. Now is the time to prepare for this possibility. With the right tools you can know almost exactly how much your gold is worth in cash before you sell. With a working concept of the gram and the knowledge of how to find the best buyers you will surely come out ahead when you sell.
