If you have a collection of natural gold nuggets that you would like to sell, you have many different options to consider. There are literally thousands of gold buyers out there who would gladly purchase your gold, but it is important to realize that natural gold nuggets have an added value as unique and collectable items. Since you obviously want to get the best price, lets take a look at some of your selling choices.
One option that you have certainly heard about are the cash-for-gold type buyers who ask you to mail your gold to them in their prepaid envelope. These companies often run advertisements on late night television and promise you huge stacks of cash for your gold. I would highly suggest you avoid these types of businesses if you are trying to get top dollar for your gold. Many investigations have been done on these companies and have found that they pay only a small fraction of what your gold is actually worth.
Another option you have is to find a local gold buyer or pawn shop to sell your gold nuggets. While this may be a slightly better option than the mail order gold buyers, you will still most likely only receive a small payout for the true value of your gold nuggets. As an example, I met a gentleman recently who had a beautiful 2 ounce nugget from Arizona who took it to several pawn shops trying to sell it. The best offer he received was just 60% of the gold spot price! Fortunately he did not sell to them, but If he had, he we would have gotten a terrible price.
Refineries are an option to consider also. By selling to refineries, you are cutting out the middleman, and will probably receive a better offer than you would be able to get from a pawn shop or mail order gold buyer. The main problem with refineries is that they are only interested in the gold value of your nuggets. Gold nuggets are not pure gold, and with have varying amounts of copper and silver alloy which you will not be paid for. After the refinery takes their percentage of profit, you may only get 70% of spot price or less for the weight of your nuggets.
eBay is a good option to consider if you are looking to get a fair price. By selling on eBay, you have the ability to sell your nuggets directly to a collector. The auction format also gives you the potential of receiving multiple bids, which may get you a better price. The downside of using eBay is the fees, which can take anywhere from 6% to 12% for your total sale price, plus approximately 3% fee for using PayPal, plus the cost of shipping. You also have to deal with customers, possible online fraudsters, and the extra effort required to list the auctions.
You could also set up a booth at a rock and mineral show and potentially get a great price for your gold nuggets. This is another way for you to market your gold directly to the collectors. There will certainly be some extra effort involved in setting up a booth, buying some tables, chairs, and displays cases, but if you are willing to put in the extra effort you may be rewarded with a some great prices.
If you have a large collection of gold nuggets and you don’t want to hassle with selling them on eBay or at a mineral show, then selling directly to a gold nugget dealer may very well be your best option. The biggest difference between a gold nugget dealer and a typical gold buyer is that they are interested in the collectable value of your nuggets. While most gold buyers are simply interested in melting down your nuggets and extracting the gold content within the nuggets, a gold nugget dealer can generally get above the spot price or “melt” value of the gold. Their exact price will vary depending on the size, attractiveness, and overall beauty, but you are almost certain to get a better price than most of the companies that just want to melt your nuggets.
It is certainly important to appreciate that any business needs to make a profit, but since you want to get the best price for your gold nuggets, you will want to check around and evaluate your different options. With a little research you will find that if you can find someone who values gold nuggets as collectible items, similar to a gemstone or mineral specimen, then you will get a far better price than simply selling your gold nuggets for the value of their gold content alone.
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