Share with others

Posted by & filed under Appraisal News.

Ever wonder what an ounce of gold or silver was worth in…ahhh…five years ago in, say, May? We appraisers need to know because the effective date of an appraisal report is often based on the date of death (DoD) of a property owner. The DoD then is when the values are frozen in time, so to speak. We research backward in time to find the actual sales values of properties at the DoD. Silver is a perfect example. Silver, and the other commodities are appreciating rapidly because of the uncertain economy. Investors and the frightened are buying blue chip stocks and metals. So, where do appraisers go to discover what an ounce cost in, say May of 2006? We use www.kitco.com.