What You Need to Know About Buying Raw Gold
Gold has always been an investment. A symbol of wealth and prosperity even in ancient times, this brilliant, precious metal has held its worth throughout the falls of empires and recessions of modern economies.
Nowadays, gold investors and dealers have a more systematic approach to selling gold. It usually comes in refined gold bullion in standard, predetermined weights and sizes. However, if you’re looking for the raw form of gold, there are ways to do just that. They’re often unique, carrying the natural beauty of the earth while being easily transportable.
Here’s what you need to know about buying raw gold:
The Basics
Although most gold bars are made of high purity, usually bearing 99.9 per cent fineness, raw gold isn’t as pure. Since it comes straight from the earth, it is alloyed with different metals that are usually refined to produce pure gold. Raw gold is rough and unpolished, looking fairly different from the gold bars and bullions you may be more familiar with.
Most raw gold comes in the forms of dust, small pieces, and flakes. Larger nuggets of raw gold are often much rarer, meaning they cost much more. Although natural gold nuggets are diluted with other metals, miners usually charge the full spot price. Australian raw gold is often at much higher purities than raw gold of other countries, bearing 23 karats or slightly higher.
Where to Get Raw Gold
Gold is consistently one of Australia’s most significant exports thanks to the gold rush in the 1970s and 1980s. In fact, it was Australia’s third-ranked export commodity in 2010. Since it’s in abundant supply in Australia, there are plenty of places to get raw gold.
For instance, you can buy raw gold from local dealers, like our shop. There is also natural gold available in trade shows and exhibitions that focus on gems and trade jewellery. If you’re focusing primarily on raw gold jewellery, you might find some precious pieces in these local exhibitions.
Things to Keep in Mind About Collecting Raw Gold
When you buy gold dust, which is made up of tiny gold flakes, you usually have it assayed to identify its purity before finalising the price. There are gold dealers or assay labs online that can help you do this, and the cost varies per location.
Assaying gold dust is essential for protecting yourself from possible fraud, as you want to make sure you buy the real deal. Plenty of fraudsters attempt to pass off “fool’s gold”, which is mineral pyrite made of iron sulphide that has the pale yellow lustre that resembles gold. A professional assessor can help you avoid this mistake.
When you invest in gold, you’ll also want to invest in safe storage and insurance to protect it. Using a home safe or a bank safe deposit box is a secure way to store your gold. Only you can access it, and if anything happens to you, it can be passed onto your family. This is why using a safe is a better option than burying gold in your backyard or in a secret location. If nobody but you knows where it is, your loved ones won’t be able to find it in an emergency.
Conclusion
Buying raw gold is a unique way to diversify your collection. Even though they aren’t as pure as refined gold, they have distinct characteristics that make them valuable all the same. Now that you know the basics of raw gold, where to find them, and where to store them, you’re now ready to start being a raw gold collector!
Looking to buy gold in Australia? Check us out at Gold Nugget Shop! We have over 20 years of experience in trading gold all around the world. We’re in the business of providing golden opportunities for smart investors, and we specialise in premium gold nuggets and unique gold specimens. Get in touch with us today to see what we can do for you!
