When it comes to owning gold, I like it all. I like bullion K rands, Eagles, Maples and bars as an investment. I like antique numismatic gold for the double whammy of intrinsic value and numismatic value combined. But I really like natural gold specimens to spice up the collection / inventory. There is something about a nugget that interests me more than a piece of dolled up bullion. If there is host rock present I like it even more and there are some really cool ore specimens out there that can make a guy drool. It must be the "one of a kind" aspect that is the appeal for me. I'm asking the forum if anybody else feels this way. Is this a wise alternative to a mint product? There can be heavy premiums for some of this stuff and would like your opinions. I see these things for sale at coin shows and wonder if I'm the only person that buys it. Pitfalls? Thanks, Matt
I think if they came with a stamp on them showing weight & weather it was 12 14 or 24kt,more people would buy them I like the nugget look tho
I know it is beating a wounded horse, but I certainly wouldn't buy any off of ebay. It is much easier to fake nuggets than to AT a coin. Look in a community guide and see if you have a rock/mineral/geology club close by. Almost all will have someone interested in gold and know honest sources of true nuggets. However, as you have found, there is a price premium compared on the "gauge" ( size) of the nuggets.I have seen gold nuggets at about 1/4" sell for 30-50% premium, which is emphasized when most are about 84% or less ( 18-20 Karat), gold. Gold dust is more reasonable, but doesn't have the pizzazz. And if you want gold in quartz matrix ( my favorite) not very available, be prepared to pay big time.
Do they still have assay offices where you can take in raw gold? It would be nice if you could turn in panned gold for bullion coins.
As far as investment goes, nuggets are fine as long as you have an honest guy to sell it to when it comes time to cash in. There are so many jewelers and other firms with every excuse under the sun to give you far less than you have coming. The shop I deal with has a fair and honest way of determining the purity of gold and silver items, and then giving you a fair price.
The market is thin for them in many respects. I just sold 1.95 ounces ( troy) of placer gold to another party locally at 90% of spot. We were both happy. 12 grams of matchead sized stuff, 2 nuggets just under a pennyweight each, one 7/10'ths, one 3/10'ths and the remainder dust/flakes. No doubt those 2 bigger nugs will eventually sell for a premium but I can't be standing around the creek bank all summer waiting for the right person to come along. The guy I sold to has a 'pan gold here' biz and he will retail what I have wholesaled him. Same like every other business in the world really.
Ok guys, its' been a while since this thread was started, interesting points for sure. my point with these pics it that i would rather own one of these specimens all day over say a K rand. And now with higher than normal gold spot prices, the former premiums on nuggets have evaporated to almost nothing. I like the ones with a little matrix locked inside. JMO
Like Jim mentioned, specimen gold value isn't based on it's gold content. Therefore it's hard to place an investment value on such things. I own a few pieces of specimen gold and other minerals just because I like them. Guy
My local coin shop has a nice electronic karat tester. When tested, most show at 20- 22 K and some higher, so the actual gold content is pretty easy to find. But 80% pure is the easy rule to be safe. Matt
