Scaling prices reach alarming levels, turning even damaged gold into potentially valuable assets worth hundreds
In an intriguing turn of events, a woman recently discovered the hidden worth of her old gold jewelry. A local pawnbroker shared a heartwarming story about this woman who sold gifts from her husband, pocketing a staggering £7,200. Initially, she had anticipated a modest £500 at best.
The surge in the value of gold has been a notable trend in recent years. Over the last decade, the price of gold has soared by an impressive 242%, and in the last year alone, it has increased by 32%. To find the current value of gold, one can utilise apps like Kitco or conduct an online search.
The woman's jewelry, it seems, was made of 18ct gold, a standard commonly found in the UK. Gold items with 750 purity are typically used for fine jewellery. Interestingly, gold items with 916 purity, often popular in Asian markets, were also mentioned.
Pawnbrokers, online gold buyers, high-end jewellers, and platforms like Etsy are all potential avenues for selling gold items. However, the pawnbroker advises caution, emphasising the importance of checking the gold's authenticity first, especially given the high prices.
Gold items without hallmarks may not necessarily be non-gold items. Hallmarking of gold in the UK has been a legal requirement since the 14th century, and the most common UK standard is 37.5% gold (375), with 58.5% gold (585) also common, often imported from America and southern Europe.
It's worth noting that some customers have found gold at unconventional places such as car boot sales, charity shops, and even in skips. Gold will not tarnish when tested with vinegar, and real gold is not magnetic. It leaves a gold streak when run across an unglazed ceramic surface.
For fancier items, it could be worth taking them to an auction house to get a price. Gold items with 999 purity, nearly pure gold, are typically in bars or coins, known as investment gold.
The pawnbroker also highlighted that people often discard gold items unknowingly. This underscores the importance of regularly checking one's belongings for hidden treasures. After all, you never know what could be waiting, just like the woman who found a goldmine in her old jewelry box.
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