5 Recent Trends in the Price of Gold

Learn how the pros predict price changes

Learn about the factors that bear on selling goldWhen was the last time you checked the spot price of gold? If you’re like most folks, you probably can’t remember. That’s because gold and other precious metals are traded by highly paid professionals who use many factors to determine prices for these important commodities. However, laypeople participate in the gold market on a daily basis. As someone who’s thinking about selling gold in the near future, you should know about five recent pricing trends.

1. Gold Is Well Below Its Historic Highs

The price of gold has recently traded well below the historic highs that it reached during the early 2010s. Since the economic uncertainty that caused it to reach these highs—just short of $1,900 per ounce on the open market—has yet to fully dissipate, this suggests that future price action could be positive. If you’re looking to sell gold in the near future, that may be good news.

2. Gold Has Been a Superior Investment Since 2000

Although it has fallen somewhat from its recent highs, gold has still outperformed other indexes since 2000, including broader stock indexes like the S&P 500 and Dow Jones Industrials. As such, many investment experts recommend owning some as part of a diversified investment portfolio.

3. Gold Tends to Increase in Value During Economic Uncertainty

The price of gold is often driven by economic indicators. In particular, it tends to rise during periods of inflation and general economic uncertainty. For example, its recent highs have been attributed to political and economic instability in the European Union.

4. Gold Will Always Have Value

As a physical commodity, gold has intrinsic value and can’t become worthless. This is in sharp contrast to individual stocks: When a company goes bankrupt or ceases its operations, its stock may become completely worthless and wipe out the funds of those who invested in it.

5. It’s Tough to Predict the Future

Although gold has historically been a solid investment, it’s tough to predict the future with any clarity. As such, it’s important to keep your investments diversified and consult with a financial expert before making decisions about what to do with your money.

Selling Gold in the Buffalo, NY, Area

Whether you’re thinking about becoming a seasoned commodities trader or simply wish to know how much you’ll get for your old jewelry or family heirlooms, it’s critical to understand how the price of gold can fluctuate on a daily basis. If you’d like to learn even more about buying and selling gold at a fair price, Premier Gold, Silver & Coins can help. Drop by our store to consult with one of our seasoned experts today, or contact us online.

How Much Gold or Silver Is Really in Your Jewelry?

Know what your jewelry is really worth!

How much gold or silver is in your jewelry?If you don’t buy jewelry often, you might not realize that there’s a discrepancy between the retail price of each item—i.e., what you pay at the store—and its intrinsic value. While precious metals command a pretty penny, all retailers mark up jewelry by a significant amount. They need to make a profit, so you can’t really blame them. To be an informed consumer, however, you need to know more about the intrinsic value of your pieces.

Spot Pricing

Before we can have an informed discussion of intrinsic value, some understanding of the concept of spot pricing is necessary. Every precious metal has a value that fluctuates on a daily, hourly, and even minute-by-minute basis. Many factors contribute to these fluctuations, including global economic indicators, political considerations, and the technical maneuvering of folks who trade precious metals and other commodities for a living.

The Intrinsic Worth of Common Items and Weights

The purity of the metal within a piece of gold or silver jewelry is typically measured in karats. Maximum purity is measured at 24 karats, so the intrinsic value of jewelry with that designation is close to the spot price of an identical weight of gold or silver. For instance, a 24K necklace with four ounces of gold would be worth about as much as four ounces of gold on the open market. A 14K necklace would be worth about 58% as much.

Although you might not ever get the chance to wear one, we figured you’d be curious about the street value of an Olympic medal. Depending on the price of gold and silver, a gold medal that contains six ounces of 24K gold and a larger quantity of silver could be worth anywhere from $500 to $800. A silver medal with no gold and a comparable quantity of silver is worth anywhere from $250 to $400.

Sell Gold Jewelry to Reputable Gold Buyers in Buffalo, NY

Regardless of what’s sitting in your jewelry box at home, it’s critical for you to have a firm grip on its value. After all, you never know when you’ll want to raise some extra cash by getting rid of an item that you don’t really need. At Premier Gold, Silver & Coins, we’re proud to offer competitive compensation for the gold and silver jewelry that we buy. Learn more about what we can do for you by visiting our convenient location, browsing our website, or filling out our online contact form.

5 Famous and Rare Coins

The most valuable coins to look for at coin shops

Do you know where to sell your rare coins?Most U.S. currency is only worth its face value, but there are some items that coin appraisers and collectors spend an extensive amount of time looking for. In fact, it’s possible for a coin to increase in value by 10 million times from the moment that it’s minted until two centuries later. This knowledge makes it more important than ever for people to connect with a professional coin appraiser such as Premier Gold, Silver & Coins before they sell their collections, so they don’t end up losing out on a lot of money.

What Are the Most Valuable Coins in America?

1. 1804 Silver Dollar – This one coin could transform your life if you happen to have it sitting in storage. At the current time, there are only 19 of these coins known to be in existence, and you could receive up to $10 million if you have an 1804 Silver Dollar that’s in good condition.

2. 1933 Double Eagle – If you’re the lucky owner of the only legally owned 1933 Double Eagle coin in existence, you’ll have the opportunity to cash it in for approximately $8.5 million. This coin was never put into official circulation, and it’s believed that there are somewhere between one and five of them that were not seized by the Secret Service and melted down.

3. 1913 Liberty Nickel – The U.S. Mint is extremely particular about how coins are created and which ones are put in circulation. Therefore, it seems almost like an urban legend that the Liberty Nickel was somehow produced by the U.S. mint without there being any official approval or even knowledge of this event. However, there are at least five examples of this highly valuable coin in existence, and they’re each estimated to be worth $5.9 million.

4. 1804 Eagle Gold with a Capped Bust – These coins were actually minted in 1834, but they had the 1804 date placed on them because they were intended to be used solely for diplomatic presentations. Only four of the 1804 Eagle Gold coins have been verified to still be in existence, and purchasing one is likely to cost you $5.1 million.

5. 1861 Double Eagle With a Coronet Paquet Reverse – The U.S. Mint made the decision to halt the production of the 1861 Double Eagle in order to incorporate some last-minute revisions to the design. Luckily for collectors, this didn’t happen until at least two of these coins were produced. They’re currently valued at $4.4 million each, so anyone who has one should definitely be taking proper care of it.

For coin collectors in the Buffalo area who are interested in finding out the value of their coins, Premier Gold, Silver & Coins is here to help. Visit our website for more information on our coin-buying services or to schedule an appraisal.

Using a Broker—and Not to Buy and Sell Stock

Getting the best deal on your art and antiques

Learn what a broker will do with your antique pieceDetermining the value of an antique or artwork isn’t for the faint of heart. It’s often said that beauty is in the eye of the beholder, and it’s certainly true that folks are willing to pay wildly divergent sums for similar—or even identical—works. That’s why it’s so critical to rely on a trusted authority to evaluate and assign value to potentially valuable items. Brokers fit this bill.

What’s a Broker?

A broker uses sales histories, authenticity, quality, information about the manufacturer and other metrics to assign value to individual antiques, works of art or precious metals. As the name suggests, they act as an intermediary between buyers and sellers of these items, providing a fair price to the seller and charging a reasonable fee for their services. Without a broker to fill this role, it’s likely that the market for art, antiques and precious metals would be far less liquid and far more difficult for laypeople to navigate.

Factors That May Affect Value

Although it’s important to work with a broker who can provide a reasonable estimation of your items’ value, you also need to have a basic understanding of the factors that can affect this figure. These might include:

• The location of the sale (larger markets tend to fetch higher prices)
• The identity of the creator
• Any noteworthy features, including manufacturing errors or defects
• The style and historical value of the piece
• The composition of the item, including intrinsically valuable components

Where Can You Get the Best Price for Your Item?

It’s also important to know where to get the best price for your item. It’s generally not advisable to take a fine work of art to a pawnbroker. These businesses earn profits by providing “lowball” estimates to sellers and charging significant markups. Instead, work with a trusted broker who can connect you with a reputable dealer and give you the best possible chance to maximize your earnings.

Get Cash for Gold and Find a Fine Art Buyer in Buffalo, NY

No matter what treasured items you have in your home or place of business, you deserve to get the best possible value for them. At Premier Gold Silver & Coins, we proudly evaluate your gold, silver and antiques to determine how best to compensate you for them. Since we understand the emotional connection that many of our clients have with their heirlooms, we take the utmost care to respect them. To learn more about what we do, call us at (716) 204-8800, visit us online or stop by our convenient Cheektowaga location.

Should I Restore or Recycle?

Knowing when to salvage old jewelry and when to say goodbye

Should you restore or recycle old jewelry?Many adults have unused jewelry pieces stashed away in jewelry boxes, drawers and safes. If you have pieces that you don’t use taking up space in your home, you might wonder if you should invest the money in having them restored to their original glory or if you should sell them to a gold buyer. While there’s no one formula to determine if you should salvage or scrap your jewelry, it helps to understand your options and weigh several different factors before you make a final decision.

Old Jewelry: What Are Your Options?

You might laugh when you see TV ads about people who have scrap gold just sitting around, but the truth is that many Americans keep jewelry that they never plan to wear. If you have a lot jewelry and just don’t know what to do with it, you have three primary options:

1. Restore the piece to its original appearance.
2. Preserve the piece as an heirloom item for your children.
3. Sell the piece to gold buyers.

If you plan on restoring a piece to its original condition, you should be aware that doing so can be very expensive. It takes a great deal of skill and experience to restore antique jewelry. However, well-restored pieces can draw significant profits on the consumer marketplace.

If you plan on storing a piece as an heirloom item for your children or other relatives, consider having it professionally cleaned first. Ask your jeweler for tips on storing the piece. Make sure that all heirloom jewelry items are kept away from moist or wet areas.

If you plan on selling your jewelry to a gold buyer, remember that sale prices depend on the current price of gold. The amount of money you’ll get for the jewelry also depends on the grade of gold from which it is made. Remember that you’ll receive a portion of the piece’s value.

Making the Decision to Restore or Recycle

It may be worthwhile to have a piece of jewelry restored if it’s collectible and could later be resold at a profit. However, it can be difficult to decide if you should restore or recycle jewelry if it isn’t clear that you’ll make a profit from restoration.

You might consider restoration if:

• The piece is an heirloom family item
• The piece is part of a larger collection
• You plan on wearing the piece for a special occasion

In most other cases, it’s a good idea to sell gold jewelry for a profit. After all, you can always buy a striking, new piece with the money you earn from selling your old jewelry.

Selling gold should never be a hassle. For help recycling old jewelry pieces in the Buffalo, NY, area, stop by Premier Gold, Silver & Coins today.

Sterling by Any Other Name

What’s in a sterling silver item?

Learn how to identify sterling silver in our latest postIf you were given a random item that appeared to be silver, would you be able to identify it? Although many folks have heard of sterling silver, few feel as if they can confidently identify the material in common household items. Since sterling silver is far more valuable than silver plate, it’s important to understand this distinction. Fortunately, it’s possible to identify sterling silver from its markings.

Why Mark Sterling Silver?

Since they’ve been used regularly since the 14th century, there are a dizzying range of silver marks in the world. Many are country-specific. Others are specific to the manufacturer. While many silver markings are designed to identify the maker of a particular item and ensure authenticity, others simply exist to identify the piece as silver of a particular purity and ensure that it’s valued appropriately.

Commonly Used Markings

To identify the content, purity and make of your piece, grab a magnifying glass and look for a three-digit number on it. If the number is 925 or higher, the piece is sterling. You might also see “sterling” in all caps on the item. Other common marks include:

• A thistle that indicates the piece was manufactured in Scotland
• A lion that indicates manufacture in England
• The name of the country of origin in that country’s primary language

A Note About Antique Markings

Sterling silver isn’t used as often as it used to be. There are cheaper, more durable alternatives for many of the items that used to be made exclusively of silver. However, new pieces are still manufactured. Even if they’re made by a newer company without a longstanding reputation, these pieces may come with markings that mimic those of the storied manufacturers of yore.

This isn’t illegal: The new manufacturers may own the copyright to the name. Alternatively, the copyright may have expired altogether. That said, it’s critical to obtain an appraisal from a trusted expert who can identify authentic and non-authentic pieces to determine whether their antique value exceeds their intrinsic value.

Get Cash for Silver From the Premier Gold and Silver Buyers in Buffalo, NY

Whether you have an antique cutlery set that’s made from sterling silver or a collection of gold jewelry with which you’re ready to part, you need to be sure that you’re getting the best possible value for your investment. At Premier Gold Silver & Coins, we’re proud to offer the region’s most competitive compensation for gold and silver. To discuss your collection or schedule an appraisal, give us a call at (716) 204-8800, contact us online or stop by our convenient storefront location.

Caring for High-Carbon Steel

Not all steel is created equal. While the most common steels used today have low to middling carbon content, many antiques, especially edged and bladed items, were made from higher-carbon steel. Keeping high-carbon steel in good condition is a challenge, but knowledgeable collectors can do most of what’s necessary at home.

The first and most important piece of proper care is treating your high-carbon steel item with respect. If it’s a weapon, don’t swing it around carelessly or strike it against another blade in a cinema-style “duel.” Knives and swords were made for battle, not for cutting into inanimate objects, and hitting your weapon against a tree, a wall or another weapon will leave a mark. Keep in mind that even an ancient weapon could still injure or kill another person as well.

Exposed high-carbon steel is fairly vulnerable to rust, and if it’s touched, the oils in your skin will start to eat away at it. The simplest solution is to avoid touching your steel item directly. If it’s touched accidentally, wipe it down right away.

Periodically inspect your high-carbon steel item for any visible rust or discoloration. If they’re caught early, minor imperfections are easy to remove. Wipe the antique down with a clean, soft cloth, then apply a mildly abrasive polishing paste. Don’t go overboard; a few drops or sprays on each section will do. Apply it with a clean towel, let it sit for a few moments and remove with the same towel.

Another way to remove rust from high-carbon steel is to apply a weak acid. When in doubt, start with the mildest available chemicals, such as vinegar and diluted lemon juice. If that doesn’t get the job done, try using a stronger acid, such as phosphoric or muriatic, but be careful! Left unattended for too long, an acid will start to eat away at the steel itself instead of just working on the rust.

Light pitting is a bit more difficult to remove than surface rust or discoloration. A grinding belt will do the job, but unless you’re an expert already, we don’t recommend trying it at home. A somewhat easier option is a metal rust eraser, but that treatment tends to remove the finish as well, giving the steel a worn, uneven look.

At Premier Gold, Silver & Coins, we’re proud to be the Buffalo, NY, area’s premier gold, silver and antique dealers. We pay cash for gold and valuables, and we specialize in repairing and maintaining those beautiful metal items. To learn more about what we do, visit us online or contact us today.

Picking Up Your Toys

Is there a gold mine hiding in your parents’ attic?

When you were a kid, your parents doubtlessly told you to get your toys off the floor. Although they probably don’t have to navigate a deadly minefield of stray Lego pieces nowadays, you now have even more incentive to clean up after yourself: money.

If you’re like most people, it’s likely that your parents are still sitting on an attic full of your stuff that got left behind when you went to college or started your own life. All the possessions they classified as mere junk and threw in boxes could actually be worth quite a lot.

The Hidden Dangers of Free Storage

Let’s face it, it’s nice to have your parents’ Buffalo, NY, home for storing things you can’t be bothered to keep track of yourself. You usually don’t have to pay money for the privilege, and if you’re lucky, they’ll even call you before they decide to throw everything away so they can make space for a new sun room.

Free storage isn’t perfect, however. Old comic books, plastic toys and other items deteriorate in hot attics and closets, and their value takes a hit in the process. If you ever hope to make a few bucks from those rare collectors’ items, you’ll get them out of Mom and Dad’s house and into the hands of professional comic book and toy buyers as soon as possible.

Understanding Collectible Value

The accepted values of classic comic books and toys fluctuate wildly. Although most valuations generally increase over time, a casual glance at the sales statistics for specific comics shows that the condition of a particular item can make a difference of tens of thousands of dollars or more.

Before trying to sell your collectible toys on your own, it’s smart to talk to someone who actually knows the market. Online traders aren’t always willing to pay the prices your items deserve, and unless you can meet in person, you have few guarantees. After clearing out some space so that your poor parents can finally breathe again, be certain to take your treasures to someone reputable to learn more about what they’re actually worth.

Finally, remember that a relatively low percentage of casual buyers actually know the value of what you have to offer. The older and more vintage an item becomes, the less likely it is that people are going to recognize it for what it’s worth and pay in kind.

Ready to sell those original Marvel comics or never-opened Ninja Turtle action figures? Premier Gold, Silver & Coins is here to help. Get started off right by stopping in at our store in Buffalo, NY, or visit us online for more information.

Know Your Karats and Shine Your Carats

gold karatYou’ve probably heard words like carat and karat get thrown around by television jewelry gurus and your own friends and family. If the conversation is taken out of context, you might even think that your loved ones are talking about the properties of the carrots on your plate. Understanding the difference between a carat and a karat is very important if you intend to sell your gold or have your precious belongings appraised.

A carat is used to describe the weight of a diamond or other gemstone. One carat is equal to 200 milligrams. Smaller diamonds are described using points, and one carat contains 100 points. Once upon a time, traders used carob seeds and a set of scales to determine the weight of a precious stone. Carob eventually evolved into the modern carat.

A karat is used to describe the purity of gold within an item. Metal alloys are often added to gold to increase the item’s durability, alter the color, and drive down the price. Gold is a very soft and yellow metal, so pure gold jewelry is very rare. However, the presence of other metals can decrease the value of an item, so it’s important to know the purity of your gold belongings.

Karat Breakdown

The karat value represents the percentage of gold that’s present in an item. To describe the purity of a piece of gold, the item is divided into 24 units. An item that’s 100% gold is 24 karat. A piece that’s 22 parts gold and two parts alloy is 91.6% gold or 22 karat. Twenty-karat gold is 83.3% gold. An 18-karat gold item contains 75% gold. A 14-karat gold item contains 58.5% gold. Ten-karat gold contains 41.7% gold, so a 10-karat piece contains more alloy than gold. The previously listed percentages are for some of the most popular karatages, but other levels of purity are present in jewelry and other valuables. Safe Haven offers information about other karatages.

It’s important to note that items of different karatages should always be weighed separately. The value of each karat is different, and you don’t want to sell your gold based on the lowest karatage.

If you want to learn more about the difference between a karat and a carat, or if you have other questions related to your gold items, visit us at Premier Gold, Silver & Coins. Our gold appraisal process is free and transparent, so you can sell your gold with confidence. For more information on these and our other services, visit us online.

Should You Sell or Toss Grandfather’s World War II Memorabilia?

world war II memorabiliaAs the great conflict recedes from memory, it’s time to take stock of its physical legacy

Although those who can remember it are now among our elders, the historical earthquake of World War II will never be fully erased. Amid all the tragedy and suffering wrought by that great conflict, there’s a potential glimmer of hope: the memorabilia collected by the more than 16 million Americans who served. As you look through the family heirlooms that your ancestors have collected, you might just find a few gems amid the memories—even if they’re not as distinctive as these precious items.


Although World War II was primarily fought with rifles, bombs and torpedoes, certain combat troops still required knives for close-quarters fighting. There were many different types of fighting knives used in the conflict, including the legendary Cattaraugus 225Q. Some have exquisitely carved hilts and straight, true blades that did their job admirably. Even if these blades lack precious metals, certain models are worth far more than their weight would suggest.


Uniforms might not contain precious metals, but some of the more special ones could be worth a significant amount of money. Bomber jackets, formal Navy jackets and certain types of officers’ uniforms are in short supply. As a rule of thumb, rarer uniforms tend to be worth more than their common counterparts. As more of these items get “taken out of circulation,” however, their value may rise as a class.


Medals are often made from precious or semi-precious metals, but their real value is contained in their symbolism. While it can be difficult to give away the item that encapsulates a relative’s sacrifice, World War II medals are among the most valuable pieces of war memorabilia. It’s a good idea to get any medal appraised.


Even non-functional guns—especially sidearms with ornate handles and handmade parts—from the World War II era can fetch huge sums. As with coins and medals, rarity tends to fetch a premium. To determine whether your gun’s source and workmanship can be authenticated, it’s smart to get an appraisal.

Premier Gold Silver & Coins: Your Antique Authority in Buffalo, New York

Whether you’re in possession of a potentially priceless World War II antique or an old coin that you’d like to get acquainted with, you can’t necessarily trust your gut—or the Internet—to get a proper accounting of its value. Fortunately, our precious metals and antiques appraisers are among the best in the business, and we take pride in giving fair, transparent analyses of a wide range of material. To learn how much your family heirlooms might be worth, call us at (716) 204-8800 or fill out our online contact form.