Gold is hot these days.
When selling gold, it's wise to ask what percentage of the melt value they're paying, says local antiques appraiser Dan Sershon.
For most gold, 80 percent of melt value is reasonable, 90 percent is good, says Sershon, noting that the melt value for gold was $996 per ounce on Friday.
"That's what an honest broker would pay," he said. "If they offer substantially less than that, I would look elsewhere."
After consulting with an expert, he said sellers should receive the following:
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- $20 gold piece; $1,125
- $10 gold piece: $540
- $5 gold piece: $275
- $2½ gold piece: $160
- Silver coins from 1964 and earlier: 10 times face value, except silver dollars: $13 to $14.
- African Krugerrand: $1,020
- Morgan dollar: $14.40
- Gold rings: 60 to 75 percent of melt value.
