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Category Archives: Sell Gold

Could Iran Sanctions Affect the Price of Gold?

cash for gold Bucks County

Last month, the United States government announced it would impose “the strongest sanctions in history” on Iran.

And while a lot of the news coverage on this issue dealt with how the sanctions would affect oil and gas prices, it’s worth taking a minute to ask a question any Bucks County cash for gold business might ask:

What does this mean for gold prices?

It will most likely give them a boost, at least according to some analysts.

“The news should come as some welcome relief to anyone who owns the metal as its performance hasn’t been exactly stellar of late,” writes Simon Constable in Forbes. “The price of gold was recently trading around $1,293 a troy ounce, down from an average of around $1,332 in January, according to data from the London Bullion Market Association, a U.K.-based metals market trade group.”

The new sanctions make it illegal for anyone in the U.S. to do business with Iran, while also virtually prohibiting the use of any major bank for Iranian trade.

But what does that have to do with gold?

According to Forbes, the U.S. is trying to close a loophole that allows the use of precious metals to get around the sanctions. But Constable also notes that the government is unlikely to succeed.

“Part of the reasoning is that gold has a long history of use when other currencies are unusable,” he writes. “On top of that, gold has long been used in Iran, both by the government and the people, both to store value and to skirt sanctions.”

Gold is useful now for the same reason it was a few hundred or a few thousand years ago: it’s works as a form of currency when banks are off limits.

It’s especially valuable in Iran, Forbes notes: The country is dealing with substantial inflation and has a long history of selling oil for gold. All of this adds up to a situation where gold will be in greater demand.

Getting cash for your gold

Gold has always made a good investment, particularly for people who are focused on preserving their wealth. We like to refer readers to this quote about gold investment from our owner, Greg Glemser:

“It’s the idea that I want my $100 today to be worth $100 next year. You’re not really investing to make money, you’re investing to preserve the money you have.”

At the same time, you might be in a situation where you need cash and begin to shop around for Bucks County cash for gold businesses.

If that’s the case, we’d recommend taking these steps before you sell:

Know the value of what you’re selling

There are plenty of online sources that can tell you the current market price of gold and other precious metals. (We track precious metal spot prices on our home page.)

You should also know the karats of your gold jewelry before you sell. For example, something that was 14 karats would be 14 parts gold and 10 parts other metals (gold is too soft to be used in jewelry and must be combined with other materials in order to last).

When you know the karats of your gold, and the current gold prices, you’ll be in a better positioning when negotiating with a buyer.

Shop around

There’s no rule that says you need to take the first offer you get for your gold. Shop around at different Bucks County cash for gold buyers and choose someone you trust.

Doylestown Gold Exchange has spent more than two decades establishing itself as a trustworthy buyer of gold. We don’t just aim for a one-time sale but look to build long-term relationships with customers who want to buy gold, sell gold, or have jewelry appraised.

Contact us today or pay us a visit to find out how we can help you get the best value for your gold.

Identifying Markings on Your Gold & Silver Jewelry

Wedding ringsThe markings you see on gold and silver jewelry were typically put there for the same reason: to let buyers know about the purity of the metal.

But different types of metals can carry different markings. If you’re looking to sell gold jewelry in Bucks County, you may want to study this guide to identifying these marks.

Silver

Silver is a soft metal, which makes it good for intricate designs, although not very durable. That’s why jewelry makers often mix silver with other metals, such as copper, to give it more strength. The purest type of silver used in making silver jewelry is known as sterling silver.

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Gold is Up – Time to Scrap!

Over the past few months we have seen gold on the rise up to $1300 an ounce which we haven’t seen in many years.  With this price rise, the Doylestown Gold Exchange has seen a large uptick in customers coming in to get rid of the unwanted jewelry or jewelry they may have inherited through an estate, and to sell gold in Bucks County.

When gold was close to $2,000 an ounce, it seemed like there was a buy gold shop popping up on every corner, but in the last 4 years it has dropped almost 50% and many of those have long gone out of business.  As in many markets when there is a decline, it weeds out the shops that may not be trustworthy, and helps to show the shops that are fair and around for the long haul.

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Looking for a Last-Minute Gift?

As the holidays come upon us, we always say I can’t believe it is here and I have so much to do. So if you find yourself in that situation, the first and only place think of is The Doylestown Gold Exchange.  Doylestown Gold Exchange offers  wide variety of gifts that will fit anyone’s needs.

With a Graduate Gemologist on staff we can help you find that beautiful diamond engagement ring to pop the big question, or help you purchase a nice diamond pendant or diamond earrings at prices that can’t be beat.

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Antique Road Show Event at Doylestown Gold Exchange

Antique Road Show Event: buying and selling goldOn Wednesday night of September 28th, Doylestown Gold Exchange held its first Antique Road Show at the store.

The event was a huge success as the people started lining up a half-hour before the event started. There was a full line of people until 7:00. The event was live streamed on Facebook, and you can see a recording of the video on our Facebook page.

Doylestown Gold Exchange teamed up with Mike Ivankovich, a downsizing specialist and auctioneer.  Mike has written books on how to downsize and he helps appraise items to steer his clients in the right direction when trying to sell their valuables. He is also the host of the “What’s It Worth?” appraisal radio show, which airs mornings from 9:00 – 10:00 a.m. on WBCB 1490 AM.

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The Process of Selling Gold at Doylestown Gold Exchange

selling gold in PAIn today’s economy people are looking for ways to raise funds quickly to pay the medical bills, the mortgage bills, or an unexpected expense that popped up.  One way to raise funds quickly is to think about selling gold, silver, platinum or any precious metal.

As of September 2016, gold and silver have jumped up a lot and that is great for people who are selling these metals.  As gold hits $1300 and silver is over $19 per ounce, customers are getting a lot more money then they were just  few months ago.  Doylestown Gold Exchange, was recently voted for the third year in a row as the Best in Bucks and Montgomery counties for the best gold and precious metals buyer.

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7 Tips For Investing in Gold Coins

Iinvesting in gold coinsn a world where money is often just numbers on a computer screen, gold coins offer something tangible.

It’s a way to diversify your portfolio and gain an extra bit of financial security. Among the advantages of investing in gold coins:

  • Gold rises when other investments go down, helping to stabilize your portfolio.
  • It protects you against inflation.
  • You don’t need to pay capital gains taxes on it until it’s time to sell.

If you’re considering investing in gold coins, here are some tips to follow:

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Selling Gold Jewelry as the Market Rises

cash for gold jewelry Bucks County PA

The price of gold has been on the upswing recently.  The markets put it at $1,259 per ounce as we were posting.

Seeing these prices might make you want to rush out and sell your gold jewelry, but like any business transaction, this is one that requires some thought and research.

If you’re interesting in getting cash for gold in Bucks County, here are a few steps you should take before you sell.

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Should I Buy Gold Bullion Bars or Gold Bullion Coins in Bucks County?

gold bullion coins in bucks countyIf you’ve been thinking about investing some of your hard-earned money into gold, as so many people seem to be doing these days, you may be wondering what form of gold bullion you should purchase. That is, should you buy bars or coins?

Ultimately, the decision is up to you, although there are a number of facts and details that may inform your decision, and that will likely make it an informed decision.

But first things first: It’s crucial to understand that while most people think only of gold bars when they hear the word ‘bullion,’ gold bullion coins certainly exist as well. Bullion, just to be clear, is simply a refined and stamped weight of precious metal.

So if you’re planning on purchasing gold primarily as an investment—and assuming you prefer coins to bars—you’ll want to steer clear of ‘collectible’ gold coins, and instead make sure that the coins you’re buying are indeed actual bullion.

Here are a few questions to ask yourself and mull over if you’re not sure whether the bullion bar or bullion coin route is the best for your situation:

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Is Now A Good Time To Buy Gold?

good time to buy gold

According to Michael J. Kosares, one of the country’s foremost gold experts and the author of numerous books on the gold market, gold should essentially be thought of as ‘wealth insurance.’

“You cannot approach [gold] the way you approach stock or real estate investments,” Kosares says. “Timing is not the real issue. The first question you need to ask yourself is whether or not you believe you need to own gold. If you answer that question in the affirmative,” he goes on to say, “there is no point in delaying your actual purchase, or waiting for a more favorable price which may or may not appear.”

In other words, gold is one of the most secure financial investments available, and if you’re ready to diversity your investment portfolio with the addition of gold, there’s not much point in waiting for prices to fall, which tends to happen during times of economic crisis. There were periods during the height of the 2008 financial crisis, for instance, during which demand for gold was so great that actual shortages occurred.

So yes, now certainly is a good time to buy gold, which, aside from its positive relationship with the US dollar, has been performing well in other currencies for a few months now.

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