Search the gold market

Search the gold market


gold price in india

Introduction

Choose the gold coin to sell

Determine the weight and value of your gold

Question and Answer


Introduction


The spot gold price is basically the current price of gold if you were to try to sell your gold coins without a prescription to someone. Gold is usually sold in ounces, grams, or kilograms.


Check the price on a bigger finance site. The main gold indicator is GCM16.CMX, everything related to the current price, historical price, and various financial indicators such as Simple Moving Average (SMA) are listed on most financial websites.

Monex.com has current rates and charts and has been in business for over 40 years.

Kitco.com is a more news-oriented site. You can get the latest prices as well as a lot of recent news related to the current price of gold.


Choose the gold coin to sell


Some gold coins are easier to sell than others, especially depending on your location. Some have purity guarantees, and they can even be added to retirement accounts. Exotic coins are difficult to sell, as classification can be difficult and debatable.


Within the United States, Canadian Maple Leaf (24 karat) and American Eagle (22 karat) coins are the most commonly used. The American Eagle coin is guaranteed by the American Mint.


Outside the United States, the Canadian maple plant dominates. Also easier to sell are the South African Krugerrand and Austrian Vienna Philharmonic.
The United States made a pure gold coin called the American Buffalo in 2006. It was intended to compete with the Maple Leaf, but it was not used much.


Determine the weight and value of your gold



The actual weight of gold (AGW) of your coins is usually shown in troy ounce (i.e. the price per troy ounce). If the ounce is not displayed, weigh the coin first. After weighing it, you will need to know how much non-gold metal is inside the alloy. Once you know the AGW, multiply it by the price of gold per troy ounce to find out the value of your currency.


For impure coins, you will have to smash the fraction included in AGW. For example, if a coin weighs 2 ounces, and it is 50% pure, you will have 1 troy ounce AGW.


Keep in mind that a troy ounce (31.1 grams) is not the same as a regular ounce (28.35 grams). 
If it is not specifically listed, you will need to consult with a professional to identify the non-gold metals in your coin.


Convert grams to AGW by dividing grams by 31.1035.
Some coins are standard and are prominently displayed in troy ounce weight

Question and Answer



When you sell gold coins, are there forms for filing taxes?

Depending on the type and number of gold coins sold, Form 1099-B may be necessary. If 25 or more Gold 1oz Maple Leaf, Gold 1oz Krugerrand, or Gold 1oz Mexican Onza are sold, the tax form is required.

I bought a coin last year. Did you lose money selling it by saying that it is old gold?

No, the value of gold is not affected by the passage of time. Prices only vary with immediate supply and demand.