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When you sell gold to us, we will explain every step of the process to help you understand how selling gold works. With your XRF Precious metals Analyzer, we can test your gold to know exactly what purity your gold contains. This helps us assess your gold to give you the most when you sell.
Is that old silver dish your grandmother gave to you actually a hidden treasure? Did you stumble across a gold coin that you think might be worth something? It’s all a possibility! You can test the worth of those metals at home to see if they are actually a goldmine or not (pun intended). You can perform these tests before deciding to bring them to us to have them appraised.
How to Test the Worth of Silver at Home
Look for Authentication Hallmarks
Authentication hallmarks are a stamp on the metal from the manufacturer. These stamps give you information like the purity of the silver, the manufacturer, and the date the silver was manufactured. Common hallmarks are 925 (sterling silver), 900, or 800.
Magnet Test
Real gold and silver are not magnetic. You can use a magnet to see if it is drawn to your items. If your items stick to the magnet, they are not real silver or gold.
The Ice Worth Test
Real sterling silver will melt ice exceptionally fast. Even when silver is at room temperature, it has high thermal conductivity. Place the supposed silver on the ice (or vice versa), and set another piece of ice by itself as a control. If the piece with the silver melts much faster, it is probably real silver.
How to Test the Worth of Gold at Home
Acid Tests
You can buy home acid tests that consist of rubbing your gold on a test stone, and then dropping different acids on it. The acids come in correspondence with different gold karats. To test your gold, you drop the acid of the karat you think it is onto the gold. If it stays the same color, it is that karat. However, if it turns brown, it is a lower karat. If it disappears, it is not real gold.
Skey Tests
If you’d like a test that’s safer and still relatively cheap, you can also get a skey test from different online retailers. To perform this test, you place the gold on the testing plate, and touch the probing pen to the gold. Then, the device will instantly give you a reading of what karat your gold is! You can get a testing device on Amazon for $325.
Ready to Bring in Your Gold and Silver?
If you’ve already performed a test to see if your gold and silver are worth anything, or if you want to leave it to the experts, we are here and ready to help! Contact us today to have your precious metals appraised.
(Always talk to your CPA or Financial Advisor before making investments.)
While the price of gold for this year is a bit more unpredictable, the price of silver seems to be steadily rising. Because our current supply of silver is insufficient, pricing for silver has seen a consistent rise in cost per ounce. The silver price prediction for 2023 is expected to continue on this upward trend.
If you’ve got a lot of silver to sell, now is the time to do it! Check your home for hidden treasures that might be worth more than you think!
Silver Price Prediction for 2023
Silver prices started at $24.18 this year. With the increasing demand, prices are expected to hit $30 by the end of the year. Experts believe that prices will rise all the way up to $100 per troy ounce over the next ten years. This means that each year the price will raise by $10. The chart below shows the ten-year forecast for silver.
| Year | Mid-Year | Year-End | Tod/End,% |
| 2023 | $27.72 | $32.65 | +39% |
| 2024 | $34.77 | $36.72 | +57% |
| 2025 | $41.76 | $46.41 | +98% |
| 2026 | $47.06 | $47.75 | +104% |
| 2027 | $52.53 | $57.26 | +144% |
| 2028 | $61.94 | $66.59 | +184% |
| 2029 | $71.20 | $74.83 | +219% |
| 2030 | $75.91 | $80.18 | +242% |
| 2031 | $84.42 | $88.64 | +278% |
| 2032 | $92.84 | $93.33 | +298% |
| 2033 | $97.33 | $101.31 | +332% |
| 2034 | $104.93 | $108.86 | +365% |
Short Term Forecast
If you’re looking for a short-term forecast for silver pricing, see the chart below.
| Month in 2023 | Price |
| February | $24.05 |
| March | $24.81 |
| April | $25.66 |
| May | $26.47 |
| June | $27.31 |
| July | $28.12 |
Looking to Sell Silver in 2023?
If you’re keeping an eye on these silver price predictions for 2023, you may be ready to sell soon. We buy silver jewelry, coins, silverware, medallions, and billions. Learn more about what we buy here. Contact an expert on our team when you are ready to sell.
(Always talk to your CPA or Financial Advisor before making investments.)
With inflation still on the rise and talk of an inevitable recession, you may be wondering if now is a good time to invest in gold. Gold is considered a hedge against inflation, as its prices continue to rise despite the state of the economy. Since the price of gold often works directly against the cost of the U.S. dollar, now is the best time to buy gold. Always talk to your CPA or Financial Advisor before making investments.
Investing in Gold and Hedging Inflation
This is one of the best times to start investing in gold since inflation continues to be on the rise. Gold hedges inflation because it preserves wealth in an environment where the U.S. dollar is declining in value. However, as with any investment, you should also be aware of the risks involved. The price of gold fluctuates slightly every day, but there are trends you can analyze and follow to determine when the best time to sell your investment is. You should consider a long-term horizon if you are looking for portfolio diversification in gold investing.
Types of Gold Investments
If you’re thinking about investing in gold, you may be wondering what your options are when it comes to trading the commodity. Don’t worry, you don’t have to have a room full of gold coins or bars like Scrooge McDuck. There are several ways to invest in the commodity, and you can either physically own gold or not.
Exchange-Traded Funds (ETFs)
An ETF is a type of pooled investment that operates similarly to a mutual fund. But unlike a mutual fund, you can trade ETFs the same way that regular stocks can. You can also track not only your gold investments, but you can also monitor your gold investing strategies with an ETF.
Mutual Funds
Mutual funds are another form of “mutually” owned stocks, bonds, and other forms of investments. They offer a variety of strategies and styles for investing. They are often ran by professionals who manage the funds, decide which securities to invest in, and when to sell them.
Gold Stocks
Gold stocks are also another way to invest in gold without buying a physical commodity. When investing in gold stocks, you invest in the companies that mine and refine gold. Stocks of course come with risks since the prices of the company’s shares directly tie to the price of gold. Additionally, they are also based on the company’s profitability and expenses, which leads to even more risks.
Physical Gold
Buying physical gold is a great way to get a direct hold on the commodity. It’s less expensive than investing in EFTs. and can be easier when it comes to buying and trading. Physical gold, however, comes with its own set of challenges such as needing a place to store the gold, and determining which type of physical product is best to invest in. The three main types of physical gold investments are bullion, jewelry, and gold.
If you want to learn more about investing in gold, contact one of our professionals. Ready to start buying or selling? Check out our current stock of items.
