Gold nugget spot price + what %%%

Discussion in 'Prospecting & Detecting' started by Joshtammi, Jan 13, 2015.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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  2. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    The purity of the Welcome Nugget may not have been 99.2%, but I have had many nuggets from around here tested. Plenty of them showed purity of 98-99% with the highest reading of 99.6%.

    Without rooting around on ebay I can sell any clean nuggets instantly for spot minus 2% agw and have made many private sales of subgram nuggets for at least spot+10%. I, or anyone else, would be a fool to sell Vic gold according to your pricing formula, but I reckon you already know that.
     
  3. argyle

    argyle New Member

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    Only a fool buys ordinary nuggets, regardless of subgram, at 10% above spot.Who are you selling to? Detectorists that ho home telling their wives they found it?

    It isn't "my pricing formula ", merely the market. Sometimes we get great value on a good piece, most times I have to sell, and selling at an even 'spot price' is simply not how the buying market works.

    However, those that fiddle/invest can forge their own market, I'm not interested in what others do for a living or side income. I Dig it.
     
  4. argyle

    argyle New Member

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  5. argyle

    argyle New Member

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    Sorry, but those pics, which are on my phone, are actually in a very nice high resolution /pixel but for some reason they come out a bit blurry on this forum.
     
  6. argyle

    argyle New Member

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    Hi Altima.

    If you keep track on an Aus eBay search - gold specimen - you'll find a really nice piece of quartz and gold. Especially if seller states it was found in the Castlemaine district, Victoria. While most areas of the Victorian Goldfields produce nice specimens, Castlemaine in my mind produce the nicest.
    Lovely Specimens, to my eye anyway, are much better to look at than nuggets (nuggets can get boring to look at over time, except large ones haha) and are much cheaper to buy. Postage cheap to Canada too as small parcel .
     
  7. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    You're the one doing the digging, but you have no interest in getting correct current market value to cover your labor and expenses.

    Small high grade (tested) nuggets imo are a good way for people to buy gold. From a buyers perspective, at spot plus 10% the premiums are at the lower end of retail/resale prices for other forms of fractional gold. People have paid me higher than spot price in private sales because they know exactly what they are getting and can afford the small outlay.

    Small nuggets are much more liquid than larger pieces and have better potential for future resale. 1oz and larger pieces have to compete with refined coins and bars that retail at much lower premiums than fractional sizes.

    This is the market I buy and sell in, if I mostly found larger nuggs I might think differently. :p
     
  8. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Some high grade butter gold...

    [​IMG]

    Its a term used to describe the color of extra high purity alluvial nuggets. The buttery tinge is because there is no copper or iron present, only a fart or two of silver.
     
  9. argyle

    argyle New Member

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    There is no such thing as 'high grade butter gold'.....

    I've met pretenders like you many times over the past 40 years EM.... None of which have any idea of 'correct market value' on any given piece. Don't talk gibberish to me again.
     
  10. Gazza79

    Gazza79 Well-Known Member Silver Stacker

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    5 grams of "I cant belive its not butter" nuggets from the Golden Triangle :D (98+ Purity)

    [​IMG]
     
  11. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Every time I sell nuggets or specimens I offer a refund to anybody who has second thoughts or thinks they have overpaid after receiving their goods. I am yet to issue a refund, the only question ive been asked is "Got any more?". Pretty much all my sales have been by auction and I set no reserve, the bidders/buyers decide the final price. All fair and transparent.

    The original reference to high grade butter gold in this thread was made by Aurora et luna. How about calling him a pretender?
     
  12. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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  13. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    I am not the originator of the description "high quality butter yellow".
    However happy to wear it if someone wants to nail it to my moniker. :)
    Also have never XRF a nugget with that butter yellow appearance and found it to be of low purity.
    Just because someone claims that a " butter shade usually means a lower content " doesn't mean his assumptions is correct.
     
  14. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    ^^^ I only pointed it out because have proper credibility from your extensive business experience. You would have learned to pick high purity by color before xrf existed.

    My opinions and experiences are from detecting, selling and/or trading as a hobby. I have an old cousin well into his 70s, long time prospector. When I mentioned a place I had been looking he said they called the alluvial nuggets from there butter gold. Also have several mates who currently detect and weve all used the phrase.

    Butternut is the nugget color to beware of imo.
     
  15. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    ^^^ Not an expert but extremely lucky! :p
    Picked up this 124 gram nugget expecting it to XRF between 93-96% fine
    XRF shows 99+

    [​IMG]
     
  16. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    It's a pumpkin EM. :rolleyes:

    :D
     
  17. scrooged

    scrooged New Member

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    Very nice.
    I've only had 3 coffees today so still waking up, but I'd say you have a popcorn buttery nugget with "guts" and zero sign of what I like to call an "petroleum spill". Good get. Expect in the region of spot -15% max.
     
  18. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Yeah, better than a Jap but still not high grade. ;)
     
  19. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Mmmm, up here Japs grow better in the hot weather. Just picked two from the back yard, both over 7kg each. Now if they were made of gold that'd fetch in excess of $350 000 each, but at $1.50/kg we're lucky to get $10.
     
  20. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Hey argyle, how about showing some real guts and posting in the thread under your "real" username instead of trying to pretend you're someone new.

    You think you are some sort of international man of mystery and nobody will ever notice you running different accounts here so you can agree with your own crap and drivel and launch attacks on others who dont.

    You're like a poor quality nugget, cheap and full of impurities.
     

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