Gold is a precious metal and fairly rare element that has been used throughout history as a monetary system in the form of coinage, in jewelry and other forms of adornment, and in other arts as well. Although the world monetary gold standard was abandoned in favor of a fiat currency system in the 70s, the value of gold persists and actually continues to grow in spite of this.
We need not look further than a spot comparison of gold value over the last forty or so years. In January of 1975, gold was $175 per ounce. In January of 2018, it was $1312.00 per ounce. According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.65% per year, which means prices in 2018 are 367.6% higher than prices in 1975. So if gold was tracking with the inflation rate, the $175 per ounce gold price in 1975 would be $818.37 in 2018, a difference of $643.37 over 43 years. However, gold is $1137 higher now, indicating that it has far outpaced the rate of inflation over the same time period.
This is the reason why gold is sought after for investment portfolios, diversification of assets, and the emergency ‘rainy day’ scenario. While most things tend to depreciate over time, gold remains a beacon of certainty in uncertain times. Stocks come and go – today’s “hot” ticket is tomorrow’s failed enterprise. And gold will still be standing tall at the end of the day.
Why Metro Pawn & Gun?
When you are looking to buy or sell gold in any form, whether coins, jewelry, bullion bars, or scrap – we are the place to visit. The unique nature of our business provides the opportunity to offer merchandise that could not be found elsewhere. We see all manner of unique and one-of-a-kind items come through our doors. Custom or antique jewelry, rare coins, and gold bars can be found along with more common gold pieces.
Many of our clients see the benefits of owning gold. Even if just to add some variety to their portfolio, gold is a stable investment that will never disappoint. With such a diverse selection of gold items always available, and with the option of turning your unneeded or unused treasures into cash, Metro Pawn & Gun can help you whether you need to sell, pawn or buy gold today!
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