By Theresa Edwards, Intern

Looking to sell that antique gold bracelet that’s been collecting dust in your jewelry box? Wondering how much those gold coins are worth? There are many infomercials on TV lately asking people to sell their gold and other precious metal items and according to Ben at Sound Gold Buyers in Ballard, now is a good time to do so.

The BNT met with Ben who explained how much gold is worth these days, what happens to the golden goods once sold, and why recycling gold is good for the environment.

“People are aware that gold prices are high, so it’s a good time to sell it,” said Ben. Gold is currently worth a fairly high $1,698.00 per ounce. After rising for the past 18 months to the historical all-time high of $1,925 an ounce, the value has gone back down again a bit, but the small Ballard business has seen many customers recently who have been looking to make some money off of their unused jewelry or coins.

Silver is currently worth $32.89 per ounce, which is significantly less than gold for several reasons. Gold is more likely to have been kept over generations and then it is easy to recycle by melting down. It also has esteemed monetary value, and the demand for gold has increased for electronics, jewelry and investment (gold bars and coins).

The majority of gold purchased by businesses such as Sound Gold Buyers is eventually melted down for use in vehicles, appliances, and electronics around the world. Gold is an excellent conductor of electricity, so it is increasingly being used in cars and electronics, especially in Asia.

A fraction of the total demand for gold is for jewelry, especially engagement rings and wedding bands. Gold coins are usually kept for investors to purchase because they may rise in value later.

Why should Ballardites want to sell their gold?

Currently gold is at a historically high industrial and monetary value in the global market.

Also, Ben explained that recycling gold helps slow the demand for the destructive mining of new gold, which can be extremely harmful to the environment and well-being of people in affected areas. The same is true for diamonds, the mining of which can also be devastating in developing countries.

The fourth generation gold buying business purchases gold necklaces, bracelets, chains, charms, watches, coins, bars, class rings, and dental gold, as well as silver coins, tea sets, cups, silverware and platters. They also evaluate diamonds of all sizes.

Ben explained how the business’ low overhead eliminates extra expenses, resulting in the highest price paid to the customer as possible. It is not a pawn shop or gold dealer, so there is no inventory that takes away from the money paid to the seller.

Visit http://soundgoldbuyers.com to learn more about the gold-buying business.