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A Beginner’s Guide to Selling Your Gold Nuggets – What to Know

Selling gold these days, as, contrary to what it may seem like, there are a lot of gold buyers out there that are interested in buying gold nuggets. For a gold prospector, it’s crucial to take your time and research before you sell your hard-earned gold. Here are some things to know the value of your gold nuggets and how you can sell them:

Weight

Before you sell your gold nuggets, determine first how much you have exactly. Make sure to invest in a high-quality digital scale that can provide you with accurate readings.

Rarity

A gold nugget’s value is based on certain factors, such as its rarity. Today, gold nuggets are becoming rarer because most of the gold in history has been melted down and reused. Thus, finding a gold nugget today isn’t easy. Keep in mind, the larger the gold nugget is, the rarer it is.

Beauty and Shape

A simple round gold nugget is not considered an attractive shape, which means that you might not be able to get a high price for it. On the other hand, a jewellery-grade nugget is considered attractive gold, which will allow you to sell it for a premium price.

Size

A jewellery-grade gold nugget that is has an attractive or rare structure can sell at a more premium price. The rule here is, the more unique the gold nugget is, the higher the premium will be when you sell it. However, it will also depend on the buyer’s eyes.

Purity

When selling gold nuggets, it’s essential to remember that your gold has impurities such as other alloys like silver and copper, which can reduce its price. Have someone appraise the gold to check for any impurities.

Motivation

In order to sell your gold nuggets, you also need a good dose of motivation to do so. For example, if you badly need the money, then it’s likely that you will sell the gold nugget for a lesser price. On the other hand, if you are not in a rush to sell your gold nugget, then you will be able to look at other options that will increase your chances of selling your gold nugget for a higher price.

There are also the daily changes of gold prices to consider. If you predict that the price will be higher in the next couple of days, then you may be motivated to hold onto the gold nugget first.

Where to Sell Gold Nuggets

Lastly, you need to know the best places to sell your gold nuggets. You might want to consider the following:

  • Local buyers – you can always tap into local buyers in your area. Jewellery services and stores usually purchase gold nuggets. Research to find out the best places to sell your gold in.

Conclusion

As a gold prospector, it’s vital that you know the value of your gold nuggets before you put it on the market. Take your time and research well. If you’re looking for a gold buyer in Perth, get in touch with us today and get a premium price for your gold today!