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#1 2015-01-13 02:09:19

Joshtammi
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From: NSW - Western Sydney
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Gold nugget spot price + what %%%

Just out of curiousity what is an average price to pay for lower premium nugget sizes (1oz and less)

spot plus 5%? spot plus 10%

Average figures of course smile

Thanks

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#2 2015-01-13 02:25:47

Eureka Moments
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Re: Gold nugget spot price + what %%%

Do you mean spot based on gross weight or actual purity, and with or without quartz or ironstone inclusions?


Disclosure:  Even Barnabas Gan has changed his tune!. Last years legend called gold to be $950/oz by this years end on Jan 28 2016 but now expects $1400. 

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#3 2015-01-13 02:29:26

Aurora et luna
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Re: Gold nugget spot price + what %%%

Joshtammi wrote:

Just out of curiousity what is an average price to pay for lower premium nugget sizes (1oz and less)

spot plus 5%? spot plus 10%

Average figures of course smile

Thanks

Anything more than 5 grams should pick up a decent premium.
Around $60 - $80 a gram depending on eye appeal.
That's for a clean specimen without quartz, ironstone inclusions.

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#4 2015-01-13 02:41:07

Eureka Moments
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Re: Gold nugget spot price + what %%%

Detecting nuggets even bigger than 1 gram is getting hard these days and the vast majority of all larger nuggets found throughout history have been melted. Modern mining methods means very few are now found commercially so to my way of thinking they are rare and collectible.


Disclosure:  Even Barnabas Gan has changed his tune!. Last years legend called gold to be $950/oz by this years end on Jan 28 2016 but now expects $1400. 

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#5 2015-01-13 03:09:06

Aurora et luna
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Re: Gold nugget spot price + what %%%

Eureka Moments wrote:

Detecting nuggets even bigger than 1 gram is getting hard these days and the vast majority of all larger nuggets found throughout history have been melted. Modern mining methods means very few are now found commercially so to my way of thinking they are rare and collectible.

A clean 1oz nugget is probably rarer than a 5 carat diamond!
Saw a nugget display at the Sydney gold symposium with prices well over $100 a gram for quartz included specimens.

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#6 2015-01-13 05:47:50

Joshtammi
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Re: Gold nugget spot price + what %%%

well i suppose thats alright then, I picked up an 18 gram nugget for $950 today. Looks nice. Ill post up a pic soon smile I wouldn't know the purity, intact for all I know its copper plated gold haha:P

I did a specific gravity test and it would appear to be 23k gold or there about with my ancient methods (don't really have 20k for xrf lol)

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#7 2015-01-13 08:16:39

Joshtammi
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Re: Gold nugget spot price + what %%%

12461_fullsizerender.jpg

Coin is a 10c piece

Last edited by Joshtammi (2015-01-13 08:16:57)

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#8 2015-01-13 08:47:33

Aurora et luna
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Re: Gold nugget spot price + what %%%

Looks like a high grade butter yellow nugget.
You got a good buy!

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#9 2015-01-13 09:00:38

Joshtammi
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Re: Gold nugget spot price + what %%%

yeah its amazingly yellow:) he had another for 34 grams I might go back and grab that one for a similar price smile

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#10 2015-01-13 16:58:21

Aurora et luna
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Re: Gold nugget spot price + what %%%

Jewellery grade nuggets will fetch more.
This 9.4 gram nugget sold for $60 a gram when spot was much lower

6_img_20141209_141808.jpg

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#11 2015-06-30 21:02:58

argyle
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Re: Gold nugget spot price + what %%%

Joshtammi wrote:

Just out of curiousity what is an average price to pay for lower premium nugget sizes (1oz and less)

spot plus 5%? spot plus 10%

Average figures of course smile

Thanks

Gold nuggets under an oz are in no way rare.

And by "lower premium nuggets I guess you mean "unattractive " nuggets,  as most are flat and really quite mundane in appearance compared with, say, a nice quartz/ironstone/gold specimen, or a nice solid nugget with 'guts' to it.
If you like you can purchase all of my nuggets atm and in the future at those Spot Plus figures,,, but you'd be loosing money.
As we sell them usually at minimum minus  -10% Spot price.

We have to offsell them usually quickly, and the buyer has to make his mark....

So unless it's a very unique /appealing shape, or in crystalline form, don't get sucked intto paying over -10% spot.

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#12 2015-06-30 21:19:06

argyle
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Re: Gold nugget spot price + what %%%

This is a good example of a nugget with guts, bought at near enough to spot price. It's a piece that can be on-sold or kept for future hikes in gold price.

As long as it's not one of the copper nugget fakes a guy has been coating in Sydney the last year or so.

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#13 2015-06-30 21:22:55

argyle
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Re: Gold nugget spot price + what %%%

Oh, and there is no such thing as high grade butter yellow gold.

It's just an expression a reseller  came up with years ago, and means nothing. Usually a 'butter' shade means a lower gold content.

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#14 2015-07-01 06:49:46

Eureka Moments
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Re: Gold nugget spot price + what %%%

Hi argyle, you sound like you know a fair bit about the nugget trade and values.

I cant agree with your blanket pricing on sub 1oz pieces. Might be different where you are but Victorian gold nugget purity is pretty much all higher than 22k. The Welcome Nugget, found in 1858, was 99.2% pure. Weighed 2217oz, but the purity doesnt diminish with size of the gold.


Disclosure:  Even Barnabas Gan has changed his tune!. Last years legend called gold to be $950/oz by this years end on Jan 28 2016 but now expects $1400. 

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#15 2015-07-01 07:37:24

Aurora et luna
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Re: Gold nugget spot price + what %%%

argyle wrote:

Oh, and there is no such thing as high grade butter yellow gold.

It's just an expression a reseller  came up with years ago, and means nothing. Usually a 'butter' shade means a lower gold content.

I happen to think that description fits that nugget perfectly. smile
Here in NSW prospectors describe a lower grade/gold content nugget as a brassy shade

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#16 2015-07-01 08:17:15

mmm....shiney!
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Re: Gold nugget spot price + what %%%

argyle wrote:

If you like you can purchase all of my nuggets atm and in the future at those Spot Plus figures,,, but you'd be loosing money.
As we sell them usually at minimum minus  -10% Spot price.

We have to offsell them usually quickly, and the buyer has to make his mark....


Care to post some images of these? Where did you find them?

Last edited by mmm....shiney! (2015-07-01 08:17:38)


3<

"Every day is ordinary, until it isn't."

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#17 2015-07-01 16:54:37

argyle
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Re: Gold nugget spot price + what %%%

Eureka Moments wrote:

Hi argyle, you sound like you know a fair bit about the nugget trade and values.

I cant agree with your blanket pricing on sub 1oz pieces. Might be different where you are but Victorian gold nugget purity is pretty much all higher than 22k. The Welcome Nugget, found in 1858, was 99.2% pure. Weighed 2217oz, but the purity doesnt diminish with size of the gold.

Hi EM,   I'm sitting in the Central Vic Goldfields at the moment EM,   having my fourth cup of coffee and waiting for the sun to rise so I can start digging.

Actually the true purity of the Welcome nugget has always been misquoted. Around 94% is closer to the mark.

My 'blanket' pricing is on nuggets we sell, to buyers that have to make make money (or collectors)and the essay/refine fee eventually has to be paid by someone at some stage. So, as I've already stated, unless the nugget has a high appeal in it's shape form, or plenty of guts to it (not flat, with a nice length /width/depth ratio) we have to accept minus -15% for dog ugly specimens, to minus -10% for the others,  to offload it quickly.
The only way we get a premium is to wait longer and list them on eBay,  where eBay fees and PayPal fees eat into the premium, not to mention bid-renegers.

Here's and example of a small dog ugly speciemen, found about 40 feet from where I'm digging atm. This particular area is queer spot that holds a mix of quite ugly molten ironstone/gold, flat nice nuggets, only a few with real guts to them , copper nuggets, all the way to quite beautiful rosey pink quartz/gold specimens.This gully picks up from 3 different sheds.  I've yet to dig a nugget over 4oz here,

This piece will have to be dollyed with it's ugly companions. The buyers final price to me will be around minus -15% for the couple of oz's in that lot.

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#18 2015-07-01 17:00:38

argyle
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Re: Gold nugget spot price + what %%%

[img][/img]
Source: IMAG3208.jpg

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#19 2015-07-01 17:05:13

argyle
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Re: Gold nugget spot price + what %%%

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#20 2015-07-01 17:27:59

Altima
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Re: Gold nugget spot price + what %%%

Cool. Appreciate you sharing on gold nuggets. Been wanting to buy one but I just can't justify the premium to my significant other.


"Two things define you. Your patience when you have nothing, and your attitude when you have everything."
WTB:
WTS: 2010 Fiji 1 oz Silver $2 Taku BU (First Year Issue)

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#21 2015-07-01 18:04:01

mmm....shiney!
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Re: Gold nugget spot price + what %%%

Yep, dog ugly. smile


3<

"Every day is ordinary, until it isn't."

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#22 2015-07-01 20:22:41

Eureka Moments
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Re: Gold nugget spot price + what %%%

argyle wrote:
Eureka Moments wrote:

Hi argyle, you sound like you know a fair bit about the nugget trade and values.

I cant agree with your blanket pricing on sub 1oz pieces. Might be different where you are but Victorian gold nugget purity is pretty much all higher than 22k. The Welcome Nugget, found in 1858, was 99.2% pure. Weighed 2217oz, but the purity doesnt diminish with size of the gold.

Hi EM,   I'm sitting in the Central Vic Goldfields at the moment EM,   having my fourth cup of coffee and waiting for the sun to rise so I can start digging.

Actually the true purity of the Welcome nugget has always been misquoted. Around 94% is closer to the mark.

My 'blanket' pricing is on nuggets we sell, to buyers that have to make make money (or collectors)and the essay/refine fee eventually has to be paid by someone at some stage. So, as I've already stated, unless the nugget has a high appeal in it's shape form, or plenty of guts to it (not flat, with a nice length /width/depth ratio) we have to accept minus -15% for dog ugly specimens, to minus -10% for the others,  to offload it quickly.
The only way we get a premium is to wait longer and list them on eBay,  where eBay fees and PayPal fees eat into the premium, not to mention bid-renegers.

Here's and example of a small dog ugly speciemen, found about 40 feet from where I'm digging atm. This particular area is queer spot that holds a mix of quite ugly molten ironstone/gold, flat nice nuggets, only a few with real guts to them , copper nuggets, all the way to quite beautiful rosey pink quartz/gold specimens.This gully picks up from 3 different sheds.  I've yet to dig a nugget over 4oz here,

This piece will have to be dollyed with it's ugly companions. The buyers final price to me will be around minus -15% for the couple of oz's in that lot.

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.


Disclosure:  Even Barnabas Gan has changed his tune!. Last years legend called gold to be $950/oz by this years end on Jan 28 2016 but now expects $1400. 

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#23 2015-07-01 20:52:04

argyle
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Re: Gold nugget spot price + what %%%

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.

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#24 2015-07-01 20:59:57

argyle
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Re: Gold nugget spot price + what %%%

mmm....shiney! wrote:

Yep, dog ugly. smile

Your not joking. All the gold coming from the eastern shed on this lead is nearly all dog ugly as it's associated with molten quartz.
Here's the back end view of that piece...even uglier again.



http://s13.postimg.org/qneumohl3/IMAG3207.jpg

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#25 2015-07-01 21:03:40

argyle
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Re: Gold nugget spot price + what %%%

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.

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