Posted on: 14 October 2019
When you are looking to downsize your possessions, you may have a piece of gold jewelry that you don't know what to do with. It's not in very good condition, so you don't think that you can easily sell it. But you might be surprised that gold jewelry that is in bad condition can be almost as valuable when you take into consideration the intrinsic value of gold.
Gold Is Scarce
Despite how valuable and well-known gold is, it's often surprising to discover that there is very little gold in the world. This is the primary reason why gold is as valuable as it is. If you were to take all the gold that has ever been mined, it would all fit on a tennis court.
Gold Is Very Stable
One of the benefits of gold is that it is very stable. It does not rust or corrode like iron. To actually destroy gold, you'd need to destroy it in a nuclear fission reactor. Gold can be melted down, but it will continue to maintain its structure as gold. Even if your gold is in bad shape, you can still sell it.
Gold Is Very Malleable
While gold is very durable, it's also malleable and can be worked into any shape. For that reason, even if you have gold jewelry that is in bad shape, you can have it turned into something that is more valuable.
Gold Is Versatile
Part of the reason why gold is so valuable is that it has so many uses. In addition to being used in jewelry, it is also used in computer circuit boards and other technologies. Even when the gold is in its purest form as a gold bar, it looks beautiful.
Gold Has Held Value for a Millennia
Even though gold has been consistently valuable for thousands of years, the value of gold is constantly fluctuating. The price of gold can fluctuate from day to day. In some cases, the price of gold even fluctuates from hour to hour.
Gold Shouldn't Just Sit Around
Because gold continues to retain value, you might wonder if you should simply hold onto it. However, if you need money badly, you will be better off selling your gold rather than taking on debt. Even if you don't need money at the moment, having gold sitting around is not beneficial as an investment. You're better off selling your gold jewelry and obtaining a better investment.Share