Why do gold nuggets sell for such a premium?

Discussion in 'Bullion Investing' started by Dalladalla80, Jun 2, 2019.

  1. Dalladalla80

    Dalladalla80 Member

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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    FWIW, I watch the "Gold Rush" series all the time, and most of the gold that is recovered is pretty fine and rarely do they find nuggets of any size. Maybe that has something to do with it.

    Chris
     
    masterswimmer likes this.
  4. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think its just a fascination of being a "GOLD NUGGET" that makes the
    Price rise, however if your buying smaller amounts they also have
    The cool factor, not sure if this ones for sale...LOL.
     
  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  6. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  8. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    There both on display, where else but the Golden Nugget, Las Vegas. Nevada
     
    Seattlite86 likes this.
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    Even the smallest gold nugget will sell for a premium. A gold nugget does not retail for the gold weight. Why? Because of the fascination, the excitement of owning one. It's a rock like any other rock so it's a mineral simple but because it's gold....

    I collect rocks and I have a number of small nuggets. They're cute and people like them. They get excited just looking. I paid a little over spot but then I can sell them for a small but decent profit.

    Add in supply and demand and there you have it. A gold nugget that it worth $10 for the gold is now selling at retail for $40 or higher.
     
    Randy Abercrombie likes this.
  12. FryDaddyJr

    FryDaddyJr Junior Member

    10 dollar nugget. bet thats a small one
     
  13. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Another mystery to me. Usually an average of around 80% gold, sells for multiple, and jewelers have been making them for jewelry for decades or more. Some videos on net can show you how with torch, carbon blocks, and part of a gold coin. Now gold veins in quartz is very hard to fake if at all. Some say firms in Russia can make it from gold in synthetic quartz matrix, but never seen any as described. Jim
     
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    Yes it is.
     
  15. rte

    rte Well-Known Member

    Natural gold nuggets range
    80-92% pure, 21-23 karat
    Considering how long they were in the ground, can we call them an antiques? :greedy:
     
    Collecting Nut likes this.
  16. Oldhoopster

    Oldhoopster It seemed like a good idea at the time.

    Some stuff I picked up on ebay in the early 2000s when gold was cheap.
    IMG_1150 (2).JPG
     
  17. fretboard

    fretboard Defender of Old Coinage!

    Well the answer is very simple, and I'm sure you already know this. ;) Gold scrap is gold that was used to make jewelry or whatever, maybe a number of times. Gold nuggets are gold in it's rawest form and the karat level is normally a lot higher than scrap gold. I don't own any gold nuggets but I've had plenty of opportunities to buy some as there's a ton of gold here in California! Nice looking nugget in your link but I'd rather look at gold coins as opposed to looking at gold nuggets! :D
     
  18. gxseries

    gxseries Coin Collector

    It's to one choice. Unless you are actively fossicking or have some knowledge of what a nugget looks like, the chances of finding a gold nugget on the ground is next to zero.

    Gold nugget can come in all forms. It's like saying why should a piece of painting be worth so much when in reality the raw materials used are not worth a lot.
     
  19. goldcollector

    goldcollector Member

    I choose the coins too but the nugget has the advantage of being unique. I suppose they could say there ain't another exactly like it anywhere in the world. That's probably why they have such premium. Recently a 2.2 ounce nugget came up for sale in one of my Facebook groups. It was assayed at like 94% or something. It was $5000 and sold by end of the day.
     
    fretboard likes this.
  20. Seattlite86

    Seattlite86 Outspoken Member

    I recognized these. My dad still works there. :)
     
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