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Is Now a Good Time To Sell Gold?

Is now a good time to sell gold?

At Bellevue Rare Coins, we buy gold from the public every day of the week. We take pride in our work and love helping people understand what their items are worth, and why. Because of our reputation in the Seattle area, we often have clients ask us questions about their valuables. Two of the most common questions we get are:

  • How much is my gold worth?
  • Is now a good time to sell gold?

The answer to how much gold is worth really depends on the specific items. We recommend stopping by one of our five locations (Bellevue, West Seattle, Issaquah, Tacoma and Lynnwood), or scheduling an appointment. Our friendly staff members will give you an exact quote for your items, and you are never obligated to sell! We pay top dollar for all gold jewelry, bullion, coins, scrap gold and more.

But how about that second question – is now a good time to sell? This frequently asked question deserves a deeper dive.


Is Now a Good Time to Sell Gold?

The short answer? Yes – this is a great time to sell gold.

  • Gold spot price is near an all-time high
  • Demand for gold is near an all-time high
  • Dealers like Bellevue Rare Coins pay top-dollar for gold

The long answer? It’s a little more complex. Let’s dive in.


Reasons to Sell Gold in 2021

It’s 2021, and the country is recovering from the Covid-19 pandemic that completely altered our day to day lives, as well as our economy. The economic news in recent months has been downright strange: Supply chain shortages, surprise inflation, worker shortages, wacky movements in financial markets… The list goes on. What does this all mean for those looking to sell gold?

Well, let’s look at the facts. Why is now a good time to sell gold?

  • Gold spot price is near an all-time high
    • The spot price of gold is currently around $1,765 per ounce at the time of this writing
    • The all-time high was $2,063 per ounce (very briefly) in August 2020.
    • That means that gold is about 15% lower than the all-time high
    • However, gold has rarely been more expensive than it is right now. In the last 10 years, gold has only been above $1,800 per ounce for around 7 months (cumulatively)
    • In other words, unless you have incredible timing, it’s unlikely that you would have gotten more for your gold at any other time during the last 10 years
  • Gold demand is near an all-time high
    • Apart from the spot price of gold, demand for gold items is surging
    • Demand is particularly high for investment-grade bullion, like gold coins and bars
    • This means dealers are hungry for gold, and may pay more than they would have in the past
    • The collectible market is also hot; items with collectible value may fetch even higher prices
  • Future gold price movements are highly uncertain
    • In recent months, the price of gold has started to fall
    • The Federal Reserve is expected to raise interest rates as early as 2023. This may have a negative effect on the price of gold
    • When interest rates rise, gold may become less enticing to investors – in part because investors can earn higher yields from bonds
    • Gold may continue to fall for the time being, as investors migrate back into riskier assets like stocks
    • It is incredibly difficult to predict the price of gold (or any other asset), so take this all with a grain of salt

To sum up – Gold prices are high, demand is high (leading to higher prices paid by dealers), and the future movements of gold’s price are uncertain. Combined, these factors mean that if you’re sitting on gold and considering selling, it’s quite likely a good time to sell!


How to Sell Your Gold

Okay, so it’s a good time to sell – but how do you actually go about selling your gold?

We’re glad you asked!

If you live in the greater Seattle area, you can sell your valuables to Bellevue Rare Coins. We pay top dollar for gold jewelry, bullion, coins, scrap gold, and more.

To sell to us, simply bring in your items to one of our five locations (Bellevue, West Seattle, Lynnwood, Issaquah, or Tacoma) to receive a free quote.

There is no obligation to sell. Our friendly staff members will evaluate your items, and give you a quote based on the item’s intrinsic gold value, collector value, and current demand.

If you agree to the quote, you’ll walk out in minutes with cash or a check in hand. We pay the top rates out of any Seattle gold buyer. Plus, because we have numismatic experts on our staff, we often pay far more for gold that also has collector value.

Walk-ins are welcome, or you can always schedule an appointment online.

If you don’t live in the Seattle area, you can research gold buyers in your area. Be sure to check reviews and choose a reputable company! Many of the “we buy gold” businesses pay a fraction of what your gold is actually worth. It’s best to stick to coin shops and bullion dealers to ensure you get the most for your items.


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