The value of a nugget

[Nullers]

I'm trying to figure out what the average value of a nugget would be. I've read figures that go from 125% of spot up to 250%. I do understand that it's based on the nugget size, desirability, quality and what the buyer is willing to spend.

I'm thinking that 165% is a good ballpark figure. But being a newbie, I'm looking for some information. I would not want to under value the finds when Tax time rolls around

TIA
Nullers

 

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[Hoosier Kingfisher]

I dont see why the true value of a nugget would be any more than spot. Good luck,Ron

 

[shepcal]

ronc, I'll buy all your 1 ounce and over nuggets at spot all day. Email me asap!
Shep

 

[Hoosier Kingfisher]

I said true value. Not what someone is willing to pay, Ron

 

[Jim McCulloch]

Actually, there are no "hard and fast" rules as to what a nugget will bring. Size and "character" are VERY important. I have sold some of my crystalline gold for 5X spot, but "average" nuggets, over 5 grains, "usually" retail for about 1.5 to 1.75 times the spot price. But, you need to have buyers. Remember, "Everything is worth what the buyer is willing to pay." HH Jim

 

[Nullers]

I, too, would likely buy any nuggets you have for spot price!!

B

I'm not planning on selling mine anytime soon LOL just trying to find out a rough idea what they might be worth.

Thanks all for the input.

N

 

[Jeffro]

I have a little heart nugget, looking for a second for a pair of earrings.

Nuggets are worth whatever someone will pay. Coin shops, pawn shops, etc. are definately places to avoid when selling nuggets.

 

[Hoosier Kingfisher]

I guess what was on my feeble mind didnt come through my fingers onto the keypad. I should have said." Even though nuggets bring more than spot I dont understand why they do." Better yet I should have should just asked why. Please accept my humble apologies,Ron

 

[bakergeol]

I agree with Jim as "retail" prices are high and also with the size, rarity, beauty and "character" aspects of the nugget determining price. Some large nuggets are actually butt ugly when viewed against other nuggets and do not sell as well. Besides hunting for gold I do buy gold on E-Bay for unusual specimens particularly from my state. (Don't forget Goldbay). You can get much better prices than"retail".

For an ordinary nugget it is a buyers market out there. So unless you have something rare and different and exceptionally beautiful do not expect huge prices. - You notice all sellers try to make their nugget out as being different and rare. (Jesus and Child- $25000-LOL). Rare specimens such as crystalline specimens or wire gold - particularly large well as Jim has pointed out -Who knows? X3- X5. I have paid X3 for those specimens myself.

Oz nuggets sell for less than American nuggets as there is a lot of them. I noticed a couple of beautiful OZ nuggets I was tracking sold for 107% to 125% over spot(4 to 9 oz nuggets). Whereas a beautiful American placer nugget(1.8oz) sold for 152% which is a good price for a regular nugget- just rarity and beauty make the difference. I once saw a beautiful 10oz OZ nugget sell for $200 over spot. Others I have no clue why some sell as high as they do. That's E- bay for you.

I can tell which nuggets on E-Bay are not going to sell. I have seen those beautiful American monster nuggets which were posted on nugget hunting forums offered for sale. However, they just don't sell as the seller attaches too high of a starting price. A common American 8oz nugget offered for $8500($650/oz) just isn't going to attract any bidders(It may only sell for $6200). One has to let the market establish the price. After all E-Bay is full of large nuggets(thanks to the Australians).

We all grew up with the notion that nuggets are very rare and x2 and x3 times spot were the norm. However that is not true- perhaps the OZ prospectors were too successful in bringing large nuggets to the market place.

George

 

[Willy]

Figured I might jump in here... It's been said that a 1 oz nugget is as rare as a 1 carat diamond. The thing about buying a REAL nugget (especially one with 'character') is that you can search the world over and not find its' twin; it's absolutely unique. On the other hand, you can buy a gold ring, maybe even with a big diamond mounted on it, and walking down the street see someone with an identical ring strutting around proudly. As a corollary, imagine a house with a 'million dollar view', and then imagine another house with the same 'million dollar view'.. which is really just a large picture pasted over the window (which looks out onto the city dump). It can be argued that they both have the same view.. so why pay more for the former? Another example could be those video 'fireplaces'; a vid of a burning log just doesn't 'do it' for me. ...Willy.

 

[Jeffro]

What it all boils down to is nuggets have character. Each individual can see something different in each one, so its up to the buyers imagination. Exceptionally large specimens are rarer, and will bring more because of their scarcity. They'll fetch even more if they remind the buyer of something.

I once heard of a gal up in Alaska who is trying to get all the letters of the alphabet, for instance.

My Dad has a naturally formed piece of wire gold in the shape of a "Q", believe it or not.... and one that looks like a mastodon.

Still and yet, a nugget doesn't have to look like anything in particular to be beautiful, each one is its own work of art. And to think, the guy who pulled it out of the ground is the first person to lay his eyes on that piece since it was formed!


This is my worst looking nugget, all encrusted with some sort of nasty stuff that won't come off, I almost tossed it, as it was totally black in the pan and looked like any other rock. Then I saw a little glimmer coming through from underneath and kept it. Hit it with everything I could think of to get the gunk off, but it ain't coming. Got some off though...

I never seen a bad looking piece of gold! ('cept maybe this one, I'll give ya that.... LOL!)

 

[Silver Striker]

Wow, I learned a lot on this thread. I was under the assumption that nuggets sold for below spot, since they aren't 99.99% pure gold. I probably would have gotten ripped off at coin shows and flea markets, selling them for just their weight/karats minus the dealer's spread, based on spot. I had no idea that people collected them and paid a premium for certain shapes, sizes and pairs. So, if I happened to be selling some in the Georgia/ Carolina/Tennessee area, where would be the best place(s) to go, where I'll get a fair price, quickly? I will be looking for a quick turn around and I don't use EBay. Thanks, SS