Jump to content
Nugget Shooter Forums

Need some gold selling advice


mth308

Recommended Posts

Several recent personal events (wife totalled car trying to miss a deer, AC unit struck by lightning) finds me needing to sell some of my collection......

I hate auction listing fees and I hate seeing nice nuggets (not fines, but specimens or decent sized nuggets) go to a refinery (you may disagree, but thats just my opinion).

Any suggestions on where to sell some higher end stuff that I can also be reasonably sure its not going to be melted for bullion??

Thanks

Link to comment
Share on other sites

You might also get ahold of El Dorado (Steve) on this forum ... He creates beautiful jewelry that can command a much higher price than even specimen nugget value ... Even adding a simple bail to make a pendant out of it will greatly increase the price you can get for it ... Cheers, Unc

Link to comment
Share on other sites

Just for grins, I went over to ebay and I picked 5 completed gold nugget sales. While I did this, I noted many sales did not sell. I calculated the average sell price for nuggets on these completed sales and the average was $72.76 per gram. Obviously, this could vary depending on which sales you picked. You could select them all and get a very accurate average.

Yesterday at 12:58pm, spot price for gold was $52.10. That tells me that folks are paying roughly 28% more for nuggets than they are for pure gold! So, this must be close to the collectors value of them or people are plain stupid. I suspect a little of both. I am guessing, although I refuse to speculate on metal, I do not think we will see gold at 2,263 per troy ounce this year.

Out of those 5 I randomly picked, the high sale price per gram was $106.27 and the low was $60.

Also noted was that most had free shipping. And Ebay/Paypal make about 12% per sale.

So if you have nice nugs for sale, that should give you an idea what some are selling for. I do not know any gold buyers or any refiners that would come close to paying that much. You might find a jeweler (a starving one) that would pay that or someone who collects nuggets. Obviously, someone is buying them!

So, this should give you some info for selling your nuggets and maybe get the best return. I would suggest to not get attached to the gold materially as you can not control what happens to the gold once you sell it. The real value for nuggets, for many, is the memory of the find! Most people value what they have in gold way more than it's worth!

Jim

Link to comment
Share on other sites

Also remember gold sales through sleezebay and others taxable so adios 25% at least to Unkie Sam as you just left a paper trail. CASH in your face is king-pure simple and ez 2 do on craigslist and ALWAYS meet folks in a secure location,I use my bank conference room, to do the deed as sellers from all internet sites gettn' robbed in this our new great depression-John

Link to comment
Share on other sites

John, I like the bank conference room idea! Now I just have to get some more gold (sold mine to the club recently for our nuggets raffles).

Speaking of which, most clubs buy gold at a fixed percentage of spot. Our GPAA chapter buys at 90% of spot and no taxes to deal with.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...