There are plenty of myths in our everyday lives. We tell each other these falsehoods because we like a good story or because we really believe that they are true. This can be because someone – whom we respect, fear or work for – believes it is true or because our textbooks say it is true.
This scenario is true also for the world of gold, and even more so when someone wants to buy or sell gold. There are many things that circulate as truth, when in reality these things are terribly unreliable and should be taken with a rather large bag of salt.
One of these many sayings is that gold is the only ‘real’ currency and it does not make sense to sell gold because of this. There are people who spout quotations and citations by authority figures who claim gold is the ultimate inherently valuable commodity and it has always kept its value, even since biblical times.
There are at least three things wrong with that type of claim: we do not have any reliable data that reaches back to biblical times; appeals to authority are unreliable when deciding whether to buy or sell gold; and nothing has inherent value, not even a commodity that we like as much as gold.
The rich have always – as far back as we have data, that is – valued gold for its worth. This means that it makes sense to sell gold when you need a bit of extra money or when the gold items you own no longer appeal that much to your sensibilities: outdated styles or there are just too many of them around the house.
It makes no sense to hold onto gold items that you will never again use. It makes far more sense to repurpose the gold into something that you and your children (future or current ones) will treasure and enjoy over the long term. This can be through smelting it down or by selling the gold to a company that specialises in this industry.
Author bio:
The Gold Company wrote this article about the things to consider when someone wants to sell gold.