Throughout recorded history, gold, the crowned king of metals, has been considered the ultimate monetary exchange. Gold is the only currency that isn’t someone else’s responsibility or liability; it is more that just a paper promise to pay upon demand. Gold’s worth does not rely on the economic stability of any country, political power or financial cartel. Gold has value in and of itself.

The current world price of gold is established daily by the London Gold Market which trades gold bullion and coins with other financial world centers such as Zurich, Hong Kong , Frankfurt and Paris. The price is based on pure or "fine" gold, therefore the value of gold gleaned in its natural state may vary depending on the impurities it contains. However, raw gold sold as specimens or jewelry will always bring a considerably higher price. Gold nuggets are as distinctively different as snowflakes, although similar, no two nuggets are alike. A nugget of unique character and shape may sell for as much as five times its value by weight.

Do you have broken or discarded gold jewelry you not longer wear? Now may be the time to cash in on the current gold rush. With the price of gold exceeding the $1000 an ounce benchmark, an errant earring or broken gold chain could add up to a significant sum.

To receive the best price for gold you may wish to sell, know the karat count. Because of the softness of pure 24k gold, it is usually alloyed with base metals for use in jewelry, altering its hardness, color, melting point and ductility. Alloys with lower karatage, typically 22k, 18k, 14k or 10k, contain higher percentages of silver, copper or other base metals in the alloy. The higher the karat the more you should expect to be paid. If you only have a piece or two to sell, try a local jeweler or take a vintage piece to an antique jeweler. They’ll take the artist’s craftsmanship into consideration and you will net a much higher price than for just the gold weight.

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