1 gram nuggets worth?

[mattt]

I know what a gram of gold is worth but is a 1 gram plus nugget worth more then its wieght?

 

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[Johnnybravo300]

Man, that really was a prick move.

Was the seller forced to sell it for that price? Did he do his research?
A fool and his money will soon part ways.

 

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[Laz7777]

Was the seller forced to sell it for that price? Did he do his research?
A fool and his money will soon part ways.

the guy drove down from Sierra City on the north fork of the Yuba.
there's likely a gold buyer up that way somewhere, but where I sell is quick cash...walk in and leave in a few minutes, paid.
the guy was youngish, lkely late 20's - early 30's.
who knows what he could've gotten for that specimen if he was patient, or didn't need cash right away. don't know the situation.

my buyer has miners coming in from several counties, he says. 80% of spot (for example, at $1250/.ozt he pays $1000).
no let's do the 85% of 91% like other buyers will do, just straight numbers.
all is has to be is clean.

it shoudn't have mattered about the quartz in that piece, though it's hard to estimate what it could get, he should know roughly what it's worth.
hell, I don't know what I'd have given the guy for it.

 

[Johnnybravo300]

Most guys around here that buy gold want to pay 85% purity (that's average) at 80% spot price, and some want $80 a gram after that. All the sudden it's worth full price x2!

 

[Goldwasher]

85% of spot is because of purity.

If someone offers 80 % of 85 % run away.

Pure gold sells on line and in coin shops for a premium. Placer gold sells for spot at a minimum.

Selling gold for less than 80% of spot is not a good Idea. I don't know why anyone would do that.

 

[Johnnybravo300]

Yeah me either but I wouldn't sell that cheap. Maybe a local guy that needs quick cash, thats the first offer at least that ive heard. Raw gold is too hard to come by to give it away.
Anyone that thinks gold is expensive sure hasn't prospected and dug for it.

 

[KevinInColorado]

85% of spot is because of purity.

If someone offers 80 % of 85 % run away.

Pure gold sells on line and in coin shops for a premium. Placer gold sells for spot at a minimum.

Selling gold for less than 80% of spot is not a good Idea. I don't know why anyone would do that.

But if they insist, I’d be happy to buy it at that price!
#arbitrageopportunity