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Sell Gold - How to Value and Sell Your Gold Nuggets
Understanding how to sell gold to get yourself the best price is a key skill you need now that you have worked so hard to find your gold.
This page tells you how to value your gold, where to sell your gold and the conditions you need to know to get the best price for your gold.
We will also add three unique extra ideas to sell gold at greater than spot price that you probably have not thought of yet.
What Are Your Gold Nuggets Worth?
We will not be dealing with scrap gold here, that is the realm of the merchants buying gold at hock shops and the ubiquitous shopping centre style gold buying kiosks (Beware - You will NOT get fair value for your gold at these places!)
What we are interested in is the gold you find while you are prospecting from the gold dust right up to the very large gold nuggets.
Gold nuggets are rare and becoming rarer, most of the gold in history has been melted down and reused, this means for an attractive gold nugget you will get a premium in price.
The larger the gold nugget the more rare and desired it will be.
What is an Attractive Gold Nugget
This is described on the page relating to How to Make Gold Jewellery, essentially the beauty and shape will be assessed by the buyer, but if its just a round or amorphous blob without any attractive shape then you will not get premium price over spot price for the nugget.
Jewellery grade or "Attractive" gold nuggets will fetch a premium.
Flour gold to gold up to 1 gram is usually sold at normal spot price less the costs of smelting, or at a discount to spot price of up to 15%+ to cover costs and a reasonable profit to the buyer.
You need a reasonable amount of this to make it cost effective to sell for example if you are selling it to the Perth Mint Refinery where the minimum cost is $297.
1 grams gold nuggets upwards (if jewellery quality) will sell at a premium to spot gold prices but unless it is crystalline gold, leaf gold or wire gold not a massive premium.
The larger the nugget generally the greater the premium when you sell gold, but it is all based on the value in the buyer's eyes.
WA gold is not pure 100%, 24 carat gold, no natural gold nuggets are!
Gold Nuggets have impurities such as silver or other metallic content or small pits of quartz and ironstone in the matrix of the nugget.
This is an important to understand for selling gold when you sell it to a refiner, the gold nugget that you provide is not 100% in gold content and your return will be less than the weight of the gold nugget due to that fact.
What you eventually sell your gold nugget for may also depend on your motivation for selling as well and the effort you are prepared to go to to sell it.
If you need the money and have limited time to sell gold for example, then you may be prepared to sell your nuggets for spot price less expenses for refining.
If you have plenty of time then its worthwhile looking for other options beside this such as selling via ebay or taking the time to obtain offers from the various buyers who will pay a premium for clean, natural, Australian Gold nuggets.
You will also be motivated by the up and downs of the daily gold price and where you believe the price will go to in the future, if you believe the price is going to go up you may be prepared to hold or alternatively, go down, you may want to sell quickly.
Where do You Sell Gold Nuggets?
If you want a premium to spot daily prices this is one way to get it for your small nuggets when you sell gold.
Go to E Bay type in "gold nuggets" and look at the prices that people are asking for and often receiving for small gold nuggets.
Here is an example;
How to Build a Successful Business Selling Your Gold Nuggets on EBAY
Make sure you have a sharply focussed photograph of the nugget with some perspective of size such as a graduated ruler when you are offering it for sale via EBAY in Australia or overseas such as USA where natural, Australian nuggets do get a premium if they are good.
You can always make sure you set the base price at the price you want so you never get less than that. Provided the base price you want to sell for is realistic then you will attract bids.
You also need to read up on EBAY security so you protect the transaction and value by insurance and getting the money in the bank before you send it anywhere.,
Smaller gold nuggets seem to sell very well on EBay - probably because they are affordable. The problem is of course that you will need to pay a % of sale price which could be up to 2-3% which can be costly for a large nugget, you need to do your own research on this.
You will also need to pay Paypal fees if you are transacting money this way.
Will buy nuggets and pay a premium for certain nuggets, they do not buy specimens, but you need to contact them to see if they of a certain size that the Perth Mint requires,
Here is part of my most recent communication with them;
"- What type of natural Gold nuggets do you buy (define the size and price by mesh size if you wish)
MINT - Nice clean nuggets and we are keen to see any over 50 ounces.
- Is there specifically any types of gold nuggets that you would pay a greater premium for?
MINT - 5g to 15 g and 50 ounces and over. Must be attractive and clean.
- How do you pay for the gold purchased and what is the approximate time for payment.
MINT - We do a direct credit into the clients bank account normally within 48 hours and Jewellery is paid 5 working days after the transaction is done.
So it is worth contacting them for a quote.
Perth Mint (Formerly AGR) will also buy gold at the Perth Mint Refinery arm, Airport 131 Horrie Miller Drive - 08 94799999) at 98.6% of the Gold Price set in the morning that you sell it.
They will charge a minimum of $279 + GST ($297) for refining it and you will be paid the market price I mentioned earlier for the gold extracted and silver extracted - remember that not all gold is pure - your gold may only be 90-95% pure and that is what is assessed in the assaying process and what you are paid for.
You will need to open an account to sell gold to them which requires similar identity documents that you need to open a bank account such as photographic Passport, drivers license and so on.
P W Becks
Becks will also buy gold and I am awaiting more information from them about their offer.
They also will have the gold picked up by courier and delivered to their offices with insurance up to $50000. That costs about $12 plus GST.
They will also refine the gold and charge a refining fee I am awaiting their correspondence on the current costs and how they assess and pay the money to you for the gold. Their contact is Jody at 0894817388 in Perth or freecall 1800888528
Three Unique Ways to Sell Gold at Better than Spot Prices
Make your own Gold Jewellery and Sell Gold at a PremiumThis pendant necklace has been made from an ironstone gold specimen and fitted into a rolled gold pendant with a bail and chain fixed.
It is surprisingly easy to make your own gold jewellery and a great pastime - our webpage How to Make Gold Jewellery shows you how to do that.
For example; the value of this piece is very much more than you could achieve by simply selling the ironstone and gold specimen.
Build Your Own Internet Web Business to Sell Gold
...How hard is it to build a successful online gold selling business on the web...Easy, if it's done methodically using the right templates and strategies.
If we can do it building the Gold Prospecting WA website so can you build your own Online Sales Website.
When you build your own Sales Website you have complete control over what you are selling, the pictures you publish, the price you want, extra revenue streams...
...This link will how you can build a business rather than just a web page that gets you the traffic and sales that you want for your gold.
We use "Site Build It" to build the Gold Prospecting WA website because of its simplicity using a block by block sitebuilder and because all the tools are provided that you need to build, host and manage your very own website included the one price.
Setup Your Own Market Stall to Sell Gold
This was an interesting idea floated at a Forum and it makes a lot of sense as an option to obtain a premium for your gold.
Make up your own individual gold nugget product presentation boxes with clean polished nuggets or add value as jewellery pieces (matching earrings, nugget with a finding attached and chain, stud earring), and sell gold with other gold paraphenalia and books/scales/loupes at carpark markets or even the local weekend markets.
Selling Gold - Has it Been a Good or Bad Experience for You?
Had a positive experience selling gold? Share you stories and experiences of selling gold to help other people.
In Aussie Dollars
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