Gold is still HOT. Yes, its price has dipped in 2012, but according to the experts, gold still has a good shot of hitting $2000 an ounce this year. While some people will take a “wait and see” attitude toward gold’s price, others will act on their desire to sell the gold they have. Typically, there are four reasons for this.

• Moving to a smaller space – When people live in the same space for a long time, it’s easy to accumulate many things that seem important, but end up just becoming clutter. Downsizing a household due to death, divorce or changed life circumstances are all reasons many choose to sell a stash of gold jewelry, coins, etc.

• Need money for bills or extra expenses – This is a common reason and what many have done over the past few years. What better way to shore up incomes than by selling unused gold pieces?

• Inherited gold – While less common, children who lose a parent often find themselves with jewelry boxes and safe deposit boxes filled with items they didn’t know their parents had. Unless there’s a sentimental value, this windfall may best serve the inheritor by being sold, especially if the jewelry will never be worn or other pressing needs override the desire to keep the “found treasure.”

• Cashing in an investment – For people who’ve been investing in gold for years, selling at the higher per-ounce price can make for a lucrative payday. For example, if someone bought 10 ounces of gold in 2000 when it was at $275 an ounce, they paid $2,750 for it. In today’s market, selling their 10 ounces would result in a cool $16,650 in cold, hard cash. Subtract out their initial investment and the investor nets $13,900 – an over 500 percent gain! Not bad for sitting on their gold for nearly 12 years.

Regardless of the reason, now is a great time to sell your gold.

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