Valuing Your Gold & Resources for the New IRA Rules
As mentioned in Briefly Noted on page 4 in this issue, one way to take advantage of the rise in gold prices is to sell your unwanted gold jewelry. Alternatively, if there is gold jewelry or coins that you intend to keep, it may be worthwhile to calculate an updated value to ensure you have adequate insurance coverage.
There are a few sites that can help you do this.
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Dendritics Precious Metal Calculator
Go to Automated Calculations and click the arrow next to Precious Metal Value Calculator.
This on-line calculator provides updated prices for gold, silver and platinum jewelry. Simply separate the jewelry by metal type (be sure to separate gold by carats), weigh it and enter the number of ounces into the calculator.
Keep in mind that the value generated is based on the spot (market) price of gold, and that if you try to sell you will only receive a percentage of this number.
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