How is the value of your gold bar determined?
More and more people today are investing their money. This is mainly because there is little or no return on your investment if you leave your money in the bank. Some people who want to invest buy stocks, while others prefer to put their money in gold.
How to determine the value of your gold bars?
The value of your gold bullion
Compared to stocks, gold price is less volatile. This is why you run little risk when investing in gold. Have you invested in gold? Then you may own one or more gold bars. You may want to sell such a gold bar, for example because you need money.
How much you get for your gold bar depends on a number of factors. We tell you how the value is determined.
Number of carats
There are some people who think that every gold bar is worth the same amount, but that’s a misconception. One gold bar can be worth considerably more than another. To determine the value of your gold bar, we first look at the number of carats.
You can have a gold bar of 8 carat gold in your possession, but also 24 carat gold. The higher the number of carats, the more your gold bar is worth.
If you have a 24 carat gold bar, you own 99.99 percent pure gold. When you waive this, the gold bars will earn you a nice amount of money anyway. Besides 8 and 24 carats we also know 14, 18 or 22 carat gold.
So don’t get rich too quickly, but find out the carat number of your gold bar first.
Anyone who thinks that the value of a gold bar is only determined by the number of carats is wrong. The weight also plays an important role. Again, when it comes to weight, gold bars can be quite different from one another. For example, you can have a gold bar weighing 1 gram, but there are also kilobars (1000 grams). Other known gold bar weights are 2.5, 5, 10, 20, 31.1, 50, 100, 250 and 500 grams.
There are also gold bars of 12.5 kilos. Such gold bars are mainly stored in the vaults of banks. The heavier your gold bullion is, the more money it is worth.
In addition to the number of carats and weight, the gold price determines how much money your gold bar is worth. Gold is often labeled as a low-risk investment, yet the price of gold can fluctuate significantly. In the short term, the differences are not particularly large, but if we look at the long term, the gold price per kilo can vary by thousands to tens of thousands of euros.
Want to sell your gold bar? Always check what is currently being paid for a kilo of gold. The price has fallen (significantly) recently?
Then you can decide to wait a while before selling your gold bar.
Always have a gold bar appraised
Some people try to find out the value of their gold bars themselves. This is possible, but we strongly advise against it. Why? Because you may be making a misjudgment, underestimating the value of your goldbaar. Always have your gold valued by a specialist in the field of gold buying, such as Goudwisselkantoor.
After they value your gold bar, they will make you an offer. If this offer suits you, you can sell the gold immediately. Gold exchange office pays out the amount offered immediately in cash, so you never have to wait for your money.