Gold and Silver Roar Back
Upon reading a newspaper account of his demise, Mark Twain wrote to the New York Journal, “The report of my death was an exaggeration.” Much the same could be said about last year’s reports of the “end of the gold era,” which seem to have been way off the mark in light of the recent surge in gold (and silver) prices.
Last year, gold prices plummeted by more than 28 percent; it was the highest annual decline in more than 30 years. However, gold recently closed at over $1,330 an ounce, which was the highest it had been since last October. So far this year, gold prices have climbed nearly 10 percent. And the rise has been steady, with gold prices increasing each of the past eight weeks, which is the precious metal’s longest hot streak since 2011.
Other precious metals are doing well, too. Silver prices have posted gains for each of the past 10 weeks. The price of the world’s second most popular precious metal has increased nearly 11 percent since the end of 2013. Even platinum prices have experienced an upward swing, with an increase of just over four percent for the year.
Sales of United States Mint bullion coins reflected this upward trend. Both gold bullion coins and silver bullion coins saw weekly increases in sales, indicating that investors are really getting excited about gold and silver again. In a recent week, gold coin sales totaled 11,500 ounces, which was an increase of 500 ounces over the previous week. And even as the U.S. Mint rations its Silver Eagles, sales of the popular silver bullion coin over the first two months of the year are the fourth highest in history.
So what do these rising prices mean to you? Well, if you have unwanted gold jewelry lying around in the house, it might be a good time to sell it. Maybe there’s a box of old silver flatware in the attic or even some gold bullion coins that you’ve inherited. With the price of gold and silver rising nearly every day, it’s a great time to consider selling precious metals, including gold jewelry, gold and silver coins and gold and silver bullion.
But before you sell, make sure you know the answer to this question: how much are my valuables really worth? Evaluating gold and silver is a fairly simple process, but it’s good to have an expert opinion you can trust. Want to learn more about how easy and profitable it can be to sell your unwanted gold or silver? Stop by and talk to the professionals at West Seattle Coins.
West Seattle Coinsspecializes in gold buying and dealing in rare coins. We are a family-owned business located in West Seattle. We also buy and sell gold, silver, diamonds, currency and jewelry. Visit us first for a free evaluation.