���߲ݴ�ý

While precious metals can be an effective hedge against inflation, sellers holding these assets can also take advantage of record gold prices by converting them into cash.

Gold prices surging

Quasar Elizundia, a research strategist for online foreign exchange broker , noted the gold price briefly touched $3,000 (U.S.) per ounce on Friday (March 14).

By mid-afternoon on Friday, the per ounce gold price was nearly $4,300 (Canadian), a five-year increase of more than 100 per cent, according to .

“Gold prices recorded a historic milestone during today’s trading session by briefly touching US$3,000 per ounce, consolidating its role as a safe-haven asset amid a global scenario marked by intense trade tensions and expectations of relative changes in U.S. monetary policy,” Elizundia noted in an emailed news release.

While the gold price is facing some resistance at the $3,000-mark, Elizundia said the yellow metal could advance toward $3,040 (U.S.) per ounce if a further escalation of trade tensions bolsters gold’s safe haven appeal.

“On the other hand, a potential peace agreement between Russia and Ukraine could bring marginal relief to the market, although sustained physical demand from central banks and global uncertainty would continue to provide solid support for gold prices,” Elizundia added.

Sellers can cash in

Do you have gold or silver jewelry hanging around that you no longer use? What about a coin collection?

When selling gold or silver jewelry, you should consider the weight and purity of precious metals, as well as any gemstones like diamonds, rubies or emeralds.

The value of your gold is also determined by its purity.

, for example, publishes the amount they pay based on the purity of the gold or silver.

, also known as 24-karat, the Hamilton-based company was offering $110.50 per gram as of March 14.

For sterling silver (.925 purity) the company was offering 99 cents per gram as of this week.

Other buyers may pay more or less, and some may ask to see your items before making an offer.

Do your homework

When selling gold, silver and other items, gold buyer advises customers do their homework before visiting a buyer.

Canada Gold also urges sellers to check whether a gold buyer is listed with the Better Business Bureau before making a deal.

You should know the weight of your items (in grams) before visiting a gold buyer to ensure you receive a fair offer.

If you don’t have a scale, you can use quarters as a reference. Quarters weigh roughly four grams, for example.

Canadian gold and silver coins

�䲹�Բ��岹’s is among the world’s most recognized gold bullion investment coins, with a near-perfect .9999 purity and modern security features that combat counterfeiting.

While it has a nominal face value of $50, the coin’s minimum value fluctuates according to the current commodity price, or spot price of gold. A similar design is used on a one-ounce silver bullion coin, known as the Silver Maple Leaf.

The Royal Canadian Mint has a long history producing gold coins at its Ottawa facility.

According to , between 1912 and 1914, the mint produced $5 and $10 gold coins that featured the inscription “CANADA” above a shield bearing the Arms of the Dominion of Canada in a wreath of maple leaves.

These coins are sought after by collectors and may be worth more than their weight in gold, depending on condition.

During �䲹�Բ��岹’s centennial year in 1967, the Royal Canadian Mint also produced a $20 gold piece for collectors.

These coins contain 18.2733 grams of .900 pure gold, according to coin grading service . Based on gold value alone, these coins are currently worth more than $2,200.

Determining the value of silver coins

If you have any pre-1967 Canadian dimes, quarters, 50-cent pieces or silver dollars, you could also cash in on rising silver prices.

The value of silver has risen 133 per cent over the past five years, according to .

Silver is trading above $48 per troy ounce Canadian as of March 14.

While the value of most Canadian coins in circulated condition will be determined by the precious metal weight, there are some notable exceptions, like the 1948 silver dollar. This coin is considered a “key date” in the series, due to its low mintage of 18,780, according to .

Canadian silver dollars dated 1967 and earlier, for example, contain .6 troy ounces of pure silver. To calculate their silver value, just multiply the current spot price of silver by 0.6.

Fifty-cent pieces from 1920 to 1967 contain 0.3 ounces of silver. Quarters made from 1920 to 1966 have .15 ounces of silver and dimes made during that time contain .06 ounces of silver.

When selling gold or silver coins, sellers may wish to contact a reputable coin dealer who can appraise the items based on their precious metal content and numismatic or collectible value.

The is a non-profit association of professional numismatists designed to uphold a high degree of professionalism among members. The organization offers a listing of reputable dealers across Canada, including contact information for dealers who purchase gold and silver collectibles from the public.