The Value of Gold Nuggets

Australia is the second biggest gold producer in the world. People have been finding gold all over the Australian outback for centuries. The country has had a rich history and several gold rushes in the 1800s that have seen a number of notable finds. Prospectors came from all over the world to make their fortunes and a couple were lucky enough to stumble upon gold nuggets that netted them a lot of money. Gold continues to attract people to Australia and people are still finding gold nuggets.

What is a gold nugget?

Gold nuggets are pieces of gold that occur naturally. They are usually formed when a piece of gold is eroded after it has broken off from the bedrock. Nuggets are often carried down by rivers and streams. As the rock tumbles down the stream, it gets cleaned and shaped. Gold nuggets are unique in that there are no two nuggets that can be ever be the same. Nuggets are rare. They are even rarer than diamonds. However, most of the impressive gold nuggets found in Australia like the Welcome nugget found in 1858 and the Welcome Stranger found in Moliagul, Australia on February 5, 1869 have been melted down. Gold nuggets are sought- after by gold collectors. They also happen to have a higher value than the standard international value of gold because of their rarity.

Gold nuggets usually contain 70 to 97% pure gold the rest is silver, copper or iron. Gold nuggets with a high gold content have a bright yellow color. Nuggets that have a high silver content are white. To sell gold Brisbane nuggets, you need to determine the quantity of the gold in the nugget.

Why sell your gold nuggets?

Gold nuggets are a great asset to have. They are very liquid and because of their scarcity they are always in demand. Historically, gold has always been an excellent way to hedge against troubled economies and inflation. Paper currency continuously loses its value. This has been the case since people began using fiat currencies. Gold on the other hand, has always been exempt from the factors that lead to currencies losing value. In fact, the value of gold rises when everything else is on a downward spiral. Because of their rarity, gold nuggets fetch higher prices on the market than refined gold.  

There is a growing community of recreational prospectors who go out with metal detectors to find nuggets. It is believed that less than 2% of the gold found on earth is gold nuggets, this means that they are the most sought after precious mineral specimens. However, there haven’t been a lot of big finds made in recent times. There are still some worthy finds judging by the number of nuggets that one can see on a daily basis on sites like eBay.

Selling gold nuggets

There are different ways to sell gold nuggets. The easiest way to sell gold Brisbane nuggets is to sell to a cash-for-gold company. These gold buyers can be found virtually everywhere. These gold buyers offer spot prices on gold nuggets. You can expect the price to be lower than the prices you would get from a gold collector who buys nuggets for their intrinsic value rather than the amount of gold contained in a nugget. However, if you have a small nugget and you would like to make some quick cash then selling to a cash-for-gold company is the way to go