Hi ... hoping some stackers might give me a clue? I'm a relative newbie. The only thing I really know much about is 10 oz PM silver bars. So there's your starting point. I may be getting some pretty nice gold nuggets soon, maybe 10 to 20 grams. I'll want to keep some and sell some. What's the typical going rate for nuggets? Spot plus "x" % etc?? BTW: how do you stack nuggets? (sorry about the "dad joke"). Cheers, Alf
The last time I sourced some nuggets it was a straight swap - gold Sovereigns for nuggets weight for weight. Always looking for good quality nuggets, so give me a yell when you get some.
Yeah total Newbie here, but I would suggest that purity throughout the nugget could be an issue. How do you know that for sure other than specific gravity. If it isn't 999.9 which a nugget probably isn't in any case, then you are asking a premium for collector value if you want over spot price for the weight of the nugget. I am pretty ignorant of the market realities here on this forum, that is I'm reluctant to pay a premium for anything , but I have seen enough deals done elsewhere, in other commodities, to know that the "going rate" isn't the only rate. Don't know if there is any useful logic in there for discussion, but that's my contribution ;-)
Purity for most of the nuggets I have bought or traded has been between 85 - 96% fine gold. You also have to factor the residual ironstone, quartz and muck that sometimes comes with the nugget I use .916 to average it out and so far its worked out OK
Depending where the nugget is from, purity can be up to 99%. Premiums really depend on the size and aesthetics - I've got a 260g nugget that tests at about 98.5% I would pretty much want double spot for because of the wow factor - the bigger the nugget, the rarer it is - it's the opposite of bullion where the bigger the item the lower the premium. A decent collectible nugget should be fetching anywhere from 25% to 100% over spot. A business selling them would need to also include GST.
Awesome response, and so quickly ... the power of silver stackers! (serious comment!) While we are here, anybody got an idea on how many posts a "Silver Stacker" member can upload per month? Hope all are having a lovely day.
Stick to the questions and give the jokes a miss alf. lol It really depends on many factors, size, purity, shape, purpose etc. I'll narrow it down to my objectives, others with different objectives will have different price structures. I buy nuggets in the 0.5 - 2oz bracket because that's all I can afford and I don't like fly shit. I buy nuggets for display purposes - not for jewellery purposes ie jewellery nuggets tend to be flat. I buy nuggets with providence ie a traceable history, this is easy when you buy from the person who found it. I like to know the area in which it was found, I think it helps with resale and can help determine purity. I buy nuggets that are visually appealing, not lumps of yellow globs. So with that in mind, I am willing to pay up to about 10% over spot, but it would really depend on the actual piece. With specimens, I am willing to pay the spot price for gold per gram of the specimen depending upon it's visual appeal, but no more. Although I did pay more than I wanted for one specimen coz I did a calculation error. If you buy a specimen for $200 though, don't expect to get $200 worth of gold in it. It is a decorative piece. Edit to add: as the pelican said, it depends. I have held a 125gram nugget from Central Vic, it was beautiful, basically all gold, no host rock that I could see, well above 90% purity, probably 97-98 and it was in the shape of a scorpion. Spot rate = $6000, I would pay $8000, he's been offered over $10G. If I had money to burn I'd give him more. It's not for sale though. Which is just as well, he's leaving it for his wife when he dies, which means it gives me time to get some $$$$$ to buy it off her in a few years, trouble is, he's a damn tough little 72 year old, likely to go on living until gold reaches $10000/oz.
I only have 1 nugget in my collection and it's a beauty! Won't be selling this one any-time soon! Can't remember what is weights; think it's just under 50grams
You need to bust that out and fondle it steve. There are few things more wondrous in the world than a nugget in full sun. How much value would the PM packaging add to it do you think?
Not going to happen Tony. Packaging is worth at least 20% of spot if not more. Had a loose 44 grammer that wasn't buttery enough; traded that back for Sovereigns a while back Looking for a clean and buttery 10 - 30 gram fondler.
I deal in the specimen and flyshit areas because that's the size of the stuff I find. Small high purity gold nuggets are in my opinion worth the type of premiums attached to fractional coins and bars. I sell pieces that are virtually free of of iron and if quartz is attached to a nugget its weight will be negligible. If a nugget has a small amount of quartz attached it should only be a small amount of the overall weight, but it may worth paying its entire weight in gold. (Yes that's right!) The reason is that people are naturally interested in gold/quartz combinations and they are rarer than nuggets without quartz attached. Note the difference between quartz and ironstone! Ironstone inclusions can detract from a nuggets beauty and value due to weight and ugliness (my opinion again). If I show people a group of nuggets they always pick up and look at those with quartz attached, simply because it is unusual and different. That's my theory and Im sticking with it. Unlike coins that have thousands of identical types, each piece of gold or a specimen is unique. They are not easy to find...people pay premiums for stuff churned out by man-made machines. Nuggets are a small remnant of trhe total above ground supplies. Where a nugget is from is important, but reputable XRF testing can make this less relevant for buyers. Im a nugget fan. Its a great way to stack small amounts of gold and have some things that you can actually play with rather than have stuck in plastic capsules and not allowed to breath on.
More excellent and diverse thoughts. I'm valuing and respecting everyone's input. Many, many thanks ... Alf
