You can see the history of both parts of the I bond rate here.

The variable rate is based on inflation and stays the same for six months after your purchase date, regardless of the Treasury’s next announcement. 

Meanwhile, the fixed rate doesn’t change after purchase. It’s less predictable and the Treasury doesn’t disclose how it calculates the update. 

After the first six months, the variable yield changes to the next announced rate. For example, if you buy I bonds in September of any given year, your rates update every year on March 1 and Sept. 1, according to the Treasury. The Treasury adjusts I bond rates every May and November, reflecting the latest inflation data. 

For example, if you bought I bonds in March, your variable rate would start at 1.90% and change to the new rate of 2.86% in September. But your fixed rate would remain at 1.20%. That would bring your new composite rate to 4.06%.

The recent surge in gold prices is pushing more people to consider unloading their family heirlooms and other valuables, which can be melted for cash, according to Schmidt.

Spot gold prices hit an all-time high above $3,500 per ounce last week. The record follows a barrage of tariffs announced by President Donald Trump in April, fueling concern that a global trade war will push the U.S. economy into recession. One year ago, prices were about $2,200 to $2,300 an ounce.

As of Wednesday morning, gold futures prices were up about 23% year-to-date and 36% higher compared to the price a year ago. 

“Gold tends to trade on fear, and we have a lot of fear in the markets right now,” said Kathy Kristof, a personal finance expert and founder of SideHusl.com.

“If you can find a moment when people are the most fearful, that’s an ideal time to sell your gold,” she said. “Strike while the iron is hot.”

Sellers can use the spot price to get a rough sense of what their gold is worth, if they know its weight and purity, to sense if they’re being ripped off, Kristof said. (Keep in mind: 24-karat gold is pure gold; an 18-karat piece is 75% gold and 25% other metals.)

“Do the math before you even go,” she said. “Fools get creamed.”

Price comparisons and deal shopping are “always wise” moves for consumers, Kristof added.

“It is a competitive marketplace,” she said. “You can get a better deal.”

2. ‘Wise or foolish’ to wait?

Some experts say prices may have topped out, but others think there is still room to run.

“My view is that gold hit an interim peak, which should hold up at least into the fall,” Roy-Byrne said.

Ultimately, it’s impossible to know what the future holds. Consumers should assess if they made a good return on investment, and if the risk of holding and hoping for a better profit “is wise or foolish,” Kristof said.

3. Tax bill may be unexpectedly high

One cautionary note: Sellers may pay a higher tax rate on their gold profits than they may otherwise think.

That’s because the Internal Revenue Service would likely consider physical gold like jewelry, coins or bars to be a “collectible,” for tax purposes, explained Troy Lewis, a certified public accountant and professor of accounting and tax at Brigham Young University.

Federal long-term capital gains taxes on collectibles can go as high as 28%, while those on other assets like stocks and real estate can reach 20%.

4. Proceed ‘thoughtfully’

Schmidt recommends proceeding “thoughtfully” before selling or melting down gold jewelry.

“It can be a smart move for those needing immediate funds, but not every piece should be melted down,” he said. “Items with historical or artistic value, like family heirlooms or antique jewelry, may be worth more in their original form than as melted metal.”

Schmidt recommends consulting with a reputable jeweler or appraiser before selling as well as considering the cost of cashing out.

“Gold may be in high demand, but once a unique piece is melted, its original value is lost forever,” he said.

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As investors wrestle with tariff-induced stock market volatility, there could be a tax-planning opportunity. But it’s not right for all investors, experts say.

The strategy, known as “Roth conversions,” transfers pretax or nondeductible individual retirement account money to a Roth IRA, which starts future tax-free growth. The tradeoff is paying upfront taxes due on the converted balance.

This planning move has been gaining popularity. As of Dec 31, the volume of Roth conversions increased by 36% year-over-year, according to the latest data from Fidelity Investments.

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Roth conversions are especially attractive when the stock market drops, according to certified financial planner Ashton Lawrence, director at Mariner Wealth Advisors in Greenville, South Carolina.

Here’s why: Amid market volatility, you can convert a smaller balance and pay less upfront taxes. When the market recovers, you’ll secure tax-free growth in the Roth account, Lawrence said.

Still, there are some key factors to consider before converting funds, experts say.

When weighing Roth conversions, “the single biggest factor” should be your current marginal tax rate vs. your expected rate when you withdraw the funds, said George Gagliardi, a CFP and founder of Coromandel Wealth Management in Lexington, Massachusetts. (Your marginal rate is the percent you pay on your last dollar of taxable income.)

Typically, you should aim to time planning moves that incur taxes — including those from Roth conversions or future withdrawals — when rates are lower, experts say.

But boosting your adjusted gross income can lead to other tax consequences, such as higher Medicare Part B and Part D premiums. That’s why it’s important to run tax projections before converting funds.

Since 2020, certain heirs must follow the “10-year rule,” which stipulates that inherited IRAs must be depleted by the 10th year after the original account owner’s death. This applies to beneficiaries who are not a spouse, minor child, disabled, chronically ill or certain trusts.

In some cases, clients pay taxes upfront via a Roth conversion to spare their future heirs from the bill, Lawrence said. Alternatively, some pass along the tax liability when heirs are in a lower tax bracket.

“We know that Uncle Sam is going to get his fair share, but we can be smart about it,” he added.