Selling Large Nuggets

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Post  Kon61gold on Wed Aug 04, 2010 1:10 pm

We have heard about selling small nuggets on Ebay but what about a nugget say 3 oz and over. Where do you sell them? It would be a nice problem to have!

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Post  Guest on Wed Aug 04, 2010 1:39 pm

Jeff i have more success selling all the small stuff but the big ones, there are few who really have the money

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Post  nero_design on Wed Aug 04, 2010 6:27 pm

The big ones are EASILY sold if you are selling them closer to spot-price. The prettier the nuggets are, the more likely they are to sell. People interested in investing in gold usually prefer something over an ounce or maybe more. Over an ounce means you can sell it for more than the spot price if you want to or if you think it will be desirable. Smaller nuggets are not as rare as the larger ones. And those dealing in refined gold (like ingots or bullion) should buy from a company like the Perth Mint because non-recognized mints and assayers mean that the ingot must be remelted and re-assayed (for an additional fee) in order for the mint to risk buying it. Note also that the most easily traded and stored bars are the 10 ounce bars.

I agree that finding a buyer for a more expensive nugget is harder since most collectors want something up to an ounce or more. A good reputation as a reliable seller on Ebay will see your nuggets go for premium price, even some of the larger ones but you may need to list it twice or even three times to lock in a sale. Another thing you can do is offer for the buyer to pay in three installments. The first payment could be non-refundable. Allowing people to use Paypal is important because MANY sellers stupidly demand Direct Deposit ONLY in order to avoid Paypal fees which are worth their trouble because of the added buyer-seller protection.

Adding Paypal as a payment option means that people will be able to buy the nugget using their Visa/Mastercard etc Credit Card and pay off the card rather than cough up a larger sum at once.

I've seen some large nuggets that I would have bought for investment pieces if I could.... but, I did not think the seller had enough history to risk that much money on. I detest new sellers on eBay who make stupid claims like: "This nugget has been assayed and is 24 carat pure gold" (gold NEVER occurs at more than 23 carats) or they list a $60,000 for their first ever Ebay sale and they have no history or feedback to support them as an honest seller worth the risk. The biggest annoyance I have is someone who regularly sells gold but always has small, blurry and poorly lit pictures. No-one in their right mind should risk such purchases and some report to me that the nugget they bought was man-made and not natural but that they could not tell because the picture was small, blurry and poorly lit.

As a seller you need to take this information to heart and sell your nuggets in a practical way that offers the buyer safety assurances. Get a courier to handle larger specimens with full insurance and tracking. Nobody will mess with your shipment - because the courier company pays out the insurance if the item is broken or goes missing... and they don't want to do that. Safety is also a concern. If you do it regularly, you can set up a webpage of your own - although more people will visit Ebay simply because they know it's safer.

For REALLY big nuggets, you should phone around the detecting stores for advice as some (not all) will put you in touch with people who collect big ones and will pay. You can certainly sell it to a refiner for bullion or you can speak with an auction house. There's no limit really but Ebay is the most convenient. Just remember that larger type nuggets can't be exported without the appropriate license (mineral export permit).

Unattractive nuggets, like fine specimens in ironstone or quartz, are better off melted down at the mint where the assayer will issue you with a cheque. Such specimens are too, large, finely dispersed or ugly to be made into jewelery or grace someone's mineral collection.
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Post  Guest on Wed Aug 04, 2010 6:34 pm

Jefgold wrote:We have heard about selling small nuggets on Ebay but what about a nugget say 3 oz and over. Where do you sell them? It would be a nice problem to have!
Jeff

Yes, what a horrible problem to have. My heart goes out for those with the problem... I feel your pain.... Selling Large Nuggets Icon_rolleyes

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Post  Greg on Wed Aug 04, 2010 7:14 pm

Jeff.
I know how you feel Jeff. I don't know if i should display my only nugget, put it on ebay or send it to the mint, what do you reckon I should do with it, it weighs .6 of a gramme Selling Large Nuggets Icon_biggrin
Cheers Greg

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Post  Guest on Wed Aug 04, 2010 7:44 pm

Greg wrote:Jeff.
what do you reckon I should do with it, it weighs .6 of a gramme Selling Large Nuggets Icon_biggrin
Cheers Greg
Selling Large Nuggets Lol Selling Large Nuggets Lol Selling Large Nuggets Lol

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Post  Tributer on Thu Aug 05, 2010 9:14 am

Just to clarify an error. You do not need an export license to sell gold nuggets. Export licenses are only required if you are exporting tons of australian minerals/ores

You can freely sell your nuggets overseas unless it is a nugget valued at or above AUD$250,000. If you have a nugget over 200 ounces (or perhaps a 30 oz+nugget if it covered in nice defined pyramidal gold crystals) it may have cultural heritage value and export from our shores is prohibited under the Movable Cultural Heriatge Act/Regs 1987.

You can apply for an export permit (as provided in the Act), and have the nugget assessed, however you are not likely to gain a permit. Hopefully all nuggets over 200oz stay in Australia and any prospector who finds one will realise its cultural and dollar value and, not break down the nugget to avoid the Act.

PS All Australian meteorites also require a permit to export under the Act. That is why so many obsessed collectors travel to Australia and steal meteorites from the known strewnfields like Boxhole and Mundrabilla before secreting them home.

PS. Any big nicely shaped/crystal nuggets will probably gain best dollar through a specialist international auction house or via a gold buyer brokering for you to private collectors or via the worlds big mineral shows.

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Last edited by Tributer on Thu Aug 05, 2010 9:39 am; edited 3 times in total (Reason for editing : grammar change)
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Post  Guest on Thu Aug 05, 2010 10:28 am

Thanks for that Tributer it is always better to know the rules in plain English as well thanks again Selling Large Nuggets Icon_biggrin

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Post  Guest on Tue Dec 07, 2010 9:39 am

there a a couple of gold brokers in the main street of Kalgoorlie that buy the gold or sell on consignment basis. I have seen a number of old timers standing out the front of the store with their quite large boxes waiting to get in after hours to have their gold bought or consigned for sale.

In most towns in western australia there are public notice (community) boards where gold buyers and collectors leave their numbers for purchase of the gold found in the fields.

I think there are a few spots in the golden triangle that do the same in Vic.

just be fair in the price you are asking and be prepared to haggle a bit ( both up and down as the situation dictates)

Keep away from the little stores in supermarkets that buy gold now as they rip u off by up to 55%

Hope that helps a little

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Post  Ausrox on Wed Dec 08, 2010 5:55 pm

Ausrox Gold is a gold broker based in Perth and Melbourne. I have contacted Jeff, the moderator of this site, and he has approved a comment from me. Earlier this year, we brokered The Ausrox Nugget which weighed in at 23.26kgs (748 ozs). The prospector who found it with a metal detector in the eastern goldfields of WA received over $1 million for it. It is now on display at the Melbourne Museum.

In general, we buy clean, good-looking nuggets of 5 oz + and pay up to at least gold price of the day. For nuggets that we deem exceptional, we will pay a premium. We also pay premium prices for gold crystals, leaf gold and wire gold. We prefer nuggets to be just washed in water, not any acids. We also buy gold on white quartz as specimen pieces for which the price is negotiable.

If you are looking to sell large nuggets, call us and post or email a photo of your nugget. Alternatively, drop by the Perth or Melbourne offices by appointment only. We will negotiate from there. Happy detecting!

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Post  goldslinger on Thu Dec 09, 2010 7:15 am

Hi Ive had no probs selling big nuggs uglly ones as well in fact the last one i sold the bloke told me he will buy all big nugs i find and that was through e-bay
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Post  hookey13 on Sun Aug 12, 2012 7:09 pm

Would be nice to have this one to sell!
Type this in the 'Buy' section: NATURAL AUSTRALIAN GOLD NUGGET 96.44 grams Western Australia
Ther still are some nice larger nuggets out there obviously being found
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Selling Large Nuggets Empty big nuggs

Post  goldslinger on Sun Aug 12, 2012 9:39 pm

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