Throughout history, people all over the globe have held gold as a prized commodity. Unlike the many kinds of paper currencies that have gone into circulation only to go defunct eventually, gold – whether made into jewels, coins, bullion or crowns – has always maintained its value.
In the modern-day, very little has changed. While the exact value of gold can now fluctuate on a day-to-day basis, the average annual gold price has risen dramatically in the last 20 years, culminating in an all-time high in August 2020.
Even with daily fluctuations, the current price is nearly at the maximum value that it has ever enjoyed. This means that now is a great time to liquefy any gold you might own, such as collectible coins, bullion or jewellery.
The Value of Dental Scrap
For dentists, another source of gold that you might be able to benefit from is dental scrap. While this source of income is often overlooked within the dentistry industry, it represents an innovative and effortless way that practices can boost yearly revenue.
How Dentists Can Strike Gold
Dental scrap is leftover material that accrues in the process of various kinds of dental work. Since features of routine dental work such as fillings, crowns and other implants often contain precious metals like gold, silver, platinum and palladium, dental scrap is almost always composed of a few highly valuable materials.
Due to the value of these metals and their standard frequency in dental scrap, dentists stand to generate a substantial amount of additional income by trading in these materials to a company that has the capacity to refine metals into a valuable format. Dental scrap, however, is usually combined with other kinds of material rather than already existing in a pure state and ready to be sold.
For this reason, dentists usually partner with a specialist with the equipment and expertise required to refine these metals into a pure form so that dentists can benefit from their actual value. If you’re a dentist looking to get the most out of the gold you have on hand, you can get in touch with the dental scrap specialists at Muzeum Dental to refine the gold you own.
The Historical Value of Gold
When you consider the erratic nature of many investments, it can be difficult to believe in a sure thing. Playing the stock market, for example, yields a complicated system that seems to benefit those on the inside, which requires extensive training to understand.
While the price of gold rises and falls on a minute level, it has enjoyed a steady overall increase in value since at least the early 1970s. That means that if you cash in any items made of gold right now, you’ll be earning near the most from that possession than you ever could have earned in the past.
In the early 2000s, the price of gold moved away from the relative stability it had previously maintained and started to increase in value slowly. This trend moved into enormous increases at the end of that first decade of the 21st century, culminating in a record high of 1873.70 USD per ounce in September 2011.
By the end of 2013, the bubble seemed to be bursting with a dramatic decrease in the value of gold. Fortunately, the lowest price that gold has hit since then had only gone to 1078.00 USD per ounce, which is still about a thousand dollars higher than where the price had been when it started to build around the year 2000.
Reaching New Heights
In just the past few years, the price of gold has soared once again to reach a higher level of value than it ever has in history. Gold may always seem valuable but paying close attention to these market fluctuations allow anyone looking to sell gold to gain insight on the best time to take advantage of the highest prices.
Why Did the Price of Gold Recently Soar?
Given that this peak hit during the middle of the Covid-19 pandemic, some have speculated that this boost in value may have been caused by a new number of people investing in gold as a reliably stable commodity.
However, the fact remains that this price rise had been building since the summer of 2018, long before knowledge of the Covid virus was widespread; all of this only goes to show that uninformed speculations of this type can be misleading.
People have cherished gold as a precious metal for its unique, lustrous beauty for thousands of years. If you’re a dentist eager to turn cash in on the gold contained in your dental scraps, the first step to take is to find a company that can refine leftover dental restoration material.