For folks looking to make a profit from the rising price of gold, selling gold nuggets is an attractive option because of the premium that being in nugget form adds to the value of the gold metal.
Gold nuggets are naturally occurring pieces of gold that have eroded from rock. They’re often found in watercourses or in alluvial deposits.
Because of their scarcity, collectors are willing to pay prices above the value of the gold for gold nuggets.
The price of gold has been increasing steadily in the past four years, more than tripling since 2006. The gold price recently passed the $1,300 ceiling, and many economists expect it to climb even higher.
When selling gold nuggets, there are a number of factors besides the price of gold alone you must consider. For instance, you must consider quality. Gold nuggets are assigned a rating based on their perceived quality, with the rating of specimen or collector being the highest ratings. When selling your gold nuggets, you’ll likely want to ascertain the quality of the nugget before assigning it a price.
You’ll also want to know where the nugget is from. Collectors often assign a higher value to gold nuggets from certain places such as Alaska or Australia. Again, the assignation of value based on location depends on the preferences of the buyer, as some assign a higher value to certain places than others.
The more you know about your gold nuggets, the better you’ll be able to command a fair price for them. Many folks selling gold nuggets get less than they should receive for their nuggets because they aren’t aware of their true value.
Once you’ve got a good grip on these aspects of your nuggets’ worth, you’ll also want to weigh them. When weighing your gold nuggets, it’s best to use a set of digital scales to get the most accurate reading of their weight.
There are a variety of venues available to sell your gold nuggets. You can place a classified ad on Craigslist, auction them off on eBay or sell them to a gold assayer. Your best bet for getting a good price is probably eBay, but you’ll need to be patient in order to get the bids up where you want them. When selling gold nuggets on Craigslist or eBay, it’s best to post a picture of them and include as much information as possible concerning the nuggets, such as size, weight and any verification of authenticity.
For gold nugget owners, the recent record high prices of gold present a golden opportunity to take advantage of long held assets. For recent buyers, the continuing rise in gold prices bodes well for your chance of making profits on your investment in the near future.
