Selling Gold Nuggets: Determining a Fair Price – What to Know
Gold nuggets are highly valued because aside from their unique properties, they are beautiful metals used to make jewellery and ornamental items. However selling your nuggets for a good price can be challenging and frustrating.
If you are trying to sell your gold nuggets but have no idea where to start, then this guide is for you. In this article, we rounded up the ways on how to determine the correct value and get the best deal for your gold.
How Are Gold Nuggets Valued?
The following factors go into a nugget’s value:
1. Gold content
The main factor of the value of gold nuggets is the content of pure gold it contains. To make it simple, the more yellowish a nugget appears, the higher the gold content it contains.
Keep in mind that gold nuggets are a form of high-grade gold ore, which means pieces often contain some amount of copper, quartz, and silver. Therefore, they are never 100% pure gold.
2. Size and rarity
Big gold nuggets sell for a much higher price than that of smaller ones because they are considered rarer. In short, the bigger the nugget is, the more rare it is. The metal is weighed in ounces and grams.
3. Beauty
While beauty is subjective, gold nuggets are considered attractive and can be sold at a premium price in their original condition if they look stunning and clean.
You may find it beneficial to clean your gold nuggets and get rid of any dirt so they are more easy to appraise and their true beauty is more visible to the buyer.
Where Should You Sell Your Gold Nuggets?
After determining the value of your gold nuggets, you need to look for a buyer who offers you a fair price. Spend some time looking for shops, stores, or acquaintances who might be interested in buying your gold until you find the one who gives you the best deal and pays a fair amount for your rare stones.
1. Local Buyers
If you’re looking to sell your gold quickly, you can certainly look for local gold buyers and gold orientated store. These can sometimes be the easier way as you can often see how they are valuated in front of you and barter with the buyer. However make sure you are getting a fair price and know your weight and purity if you can before you attempt to make the sale..
2. Gold refineries
If you are selling gold nuggets that are neither attractive nor rare, then one way is to take it to a refinery. Since there is no middle man, you should be able to get a decent price for your gold. However they will usually charge a refining fee so be aware of this.
3. Online websites
The most convenient way to sell your gold nuggets is to put them up for sale on online websites. This direct selling technique allows you to look for a buyer who offers a fair price even without leaving your home and within just a few clicks.
Conclusion
To sum it all up, there are several ways to know the correct value of your gold nuggets and find different potential buyers you can sell your rare stones to. When looking for a buyer, make sure to take your time and do your research first so you can get the best price for your gold.
At The Gold Nugget Shop, you’ll find Australian gold for sale. Get in touch with us to see how we can help you.
