Gold spot prices worldwide & Gold specimen sales tip

24hr Gold Prices

24 Hour Gold Price – Spot

Selling Gold Specimens - Prospector’s Caution:

‘Hand of Faith’ Nugget 875 Troy Ounces! Found in 1980

Hey, it’s a US Presidential election year, 2012 and gold has dropped about 14% since the peak in September of 2011. That brings up a question, do you think the gold rush boom is over?

Then you ought to –  look at this gold rush election year spot price post too.    Before you go there, consider this gold prospector’s tip first…

The next time you dig up a “Hand of faith nugget” be ready for some big gold specimen collectors to come knocking and ask you to sell it at spot gold prices…

Wait a minute! You’re thinking; why not sell my nugget at spot price?

You shouldn’t sell nuggets at spot because larger natural Gold specimens sell for more sometimes much more.  Gold specimens which are any decent sized nugget, crystalline gold piece or Gold ore with good character and quality. These finds are very rare*, rare enough to qualify for a better price per ounce than typical Gold bullion (spot) prices shown above.

Finding gold?

For What its Worth…
(The $ Value of Your Gold Nugget)

As a Gold prospector you must keep one eye on the spot price and another eye on the going specimen price. You see, a gold nugget of reasonable size and quality can bring in from 2x to 4x the spot price when sold to the right collector. To start with, go over to Ebay and look up what smaller collector specimens sell for. That’s not even typical prices for a larger or more interesting quality gold find either. The search on Ebay for high priced gold nuggets is here.

Gold Prospecting Tip:
Secure your find in a safe place, then do your gold specimen price research before you agree on a price for your rare gold finds.
There’s no need to rush the sale. since your find has been waiting for a long time already ;)

Good Prospecting!

Prospector Jess

P.S. * Why do native gold nuggets command higher prices to collectors?  Native gold nuggets have both natural beauty and rarity much like diamonds.
Consider this fact:   A one ounce gold nugget is more rare to find than a one carat diamond!

Think of all those large natural nuggets that were melted for bullion in the 1800-1900 period. Ouch, let’s not make that mistake again!

 

Comments

  1. maheo says

    So what should i keep in mind if im going to prospect on the side of a mountain in search of a vein? Should I “spot test the valley” then work my way up?

  2. Feyisetan Adekunle says

    There is Gold spot my dad found on his land and he has been thinking of selling it but he has no idea of who to tell and how he can go about it, pls can you help me out wit this?

  3. Richard Moses says

    Which is easier to do: Dry mining or wet mining? I ask because I have a mining claim where water is not always available; which means I often have to do the mining without using water. I store water, when it comes as rain, in a10,000 gallon tank, and then use that water, (which I recycle and filter), when washing the sand/dirt for gold.
    I just would like to know which would be a better deal. Dry or Wet?

    • Prospector Jess says

      Depends a lot on the kind of gold you are recovering. It sounds like you are working in an arid region so dry washing is a workable option as long as humidity is low there. Re-circulating sluices are an option but do require a lot of filtering and a ready supply of recharging water or a pond nearby.

  4. Hamish says

    I’m looking at selling 2 of my nuggets. One is 149.8gms and the other 1121.3gms. How do you find collectors that would be interested in them?

    • Prospector Jess says

      At that size you should contact a few prospecting clubs. Of course you could try GPAA or Ebay, but a good quality nugget of a few ounces could be worth a lot to the right collector. The key is getting word out to the right collectors networks. Pictures help a lot here.

  5. kents says

    Hello all, I’m Kents from Malaysia. I have a gold nugget specimen(94.14gm) wanted to sell but i can’t seem to know where to sell and the local here don’t appreciate natural thing here(i guess). Can anyone guide me? It’s very beautiful. Thank you

  6. kim diaz says

    I have two native gold nuggets that I would like to sell who would I sell them to at a good price? One is 23.3 grams and the other one is 22.2 grams Let me know of interest Kim

  7. Rick says

    G’day Jess, I am writing from Cairns Australia. Thanks for your informative videos. I am just starting out prospecting and detecting. I have an Etrac and have just bought a sluice. I am keen to get out there and get amongst it. I am 6 hours from the Palmer River goldfields which yielded over a million ounces in it’s day. I am sure they didn’t get it all. There is some left for me. Keep you posted. Cheers Rick.

    • John Apthorp says

      Hi Rick,
      The Etrac is not really the best detector for gold but in saying that, my first nuggett after 18months of detecting, was a 53.3 gram crystaline gold nuggett. It was laying on the surface completely encased in limestone. I have since sold the Etrac & I am going to buy the new Garrett AT Gold detector.
      I have just returned from the Goanna Muster run by Goanna Gold Detectors out of Greta in NSW – formerly Jack Lang detectors. Bob demonstrated the surprising fact that the AT Gold would outperform the Minelab GPX5000 on very small gold about 1/2 a pinhead size.
      All the best,
      JA in Dubbo, NSW.

  8. Thomas Cromwell says

    After you’ve found gold, where would you go to exchange it for cash? I don’t think you would take it to the local pawn shop. What questions will you have to answer, or paper work would you have to fill out. Can you get a fair price for your gold?

    • Prospector Jess says

      As the article mentions, you’ll need to do some research first. Yes you can get a good price although many simply note the price and keep on collecting. I’ve seen some pretty neat caches of native gold and heard stories of even bigger ones. For small quantities there is a pretty lively market on EBay for gold nuggets. Try this EBay search: http://www.ebay.com/sch/?_nkw=gold%20nuggets

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