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Gold Nuggets?
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Thread: Gold Nuggets?

  1. #1
    Join Date
    Dec 2009
    Location
    North Idaho....The Silver Valley
    Posts
    1,495

    Default Gold Nuggets?

    Anybody ever have dealings in this arena?

    A friend was asked to move 2 ounces worth of gold nuggets for a local doctor that is interested in moving them at Weight X Spot Price.

    I didn't have any background to tell her....she sells colloidal silver related products in her shop.

    Is this a fair price for nuggets....and what is typical?

    Curiosity will not kill the C/Kats of SS Nation!

  2. #2
    Join Date
    Mar 2008
    Location
    Alaska
    Posts
    491

    Default Tricky business

    Gold nuggets are tough to sell. Since all nuggets have a certain amount of impurities in them that fudge the true weight of the gold that is in there. That is why spot is set at .999 fine--REFINED--gold. Folks don't want to spend 1k plus for impurities. So your next bet is to go the Jewler's route, who will use them in gold nugget jewelry. They usually will give you Pawn Shop prices for it. You might get lucky and find a person who will give you a good fair price. I would give ebay a shot at it, for the folks that collect nuggets, or take it to a refiner who pay below spot, plus refining fees. Nuggets are one of those things that you pay a premium on in finished jewlry, or the RARE COLLECTOR and pay a penalty on when trying to sell in raw form.

  3. #3
    Join Date
    Aug 2007
    Posts
    403

    Default

    Native gold nuggets are unique and are valued individually by size, color (= purity), shape, and character.

    The word "nugget" is vague when it comes from someone who isn't familiar with native colors. What size colors does the person have?

    Every piece of native gold regardless of size is a "color". Colors are classed by size.

    A "nugget" (also called "course" gold) is defined as any color that will not pass through a 10-mesh screen (10 holes per linear inch). Nuggets or course colors are frequently referred to as +10 mesh.

    The holes in a window screen in a house is normally 18 to 19-mesh.

    A "medium" color is any piece of gold that will pass through a 10-mesh screen but will not pass through a 20-mesh screen. (-10/+20).
    A "fine" color will pass through a 20-mesh screen but will not pass through a 40-mesh screen. (-20/+40).
    A "flour" size color (historically called "dust" by prospectors) will pass through a 40-mesh screen. (-40).

    A prospector normally works recover all colors down to about 230-mesh. Large professional mining operations screen down smaller than 600-mesh.
    Many prospectors and all large commercial mining operations use chemicals to recover smaller colors.

    If the person you are referring indeed has 2 oz. of nuggets, each nugget has a different value. I would help you value and sell them if I could. The most valuable nuggets are "jewelry grade" nuggets = nuggets that have jewelry applications. The top of the line of jewelry nuggets are called "picture" nuggets. They look like something. Maybe a letter of the alphabet, a tree, house, animal, etc. (I have what I call a "Casper" nugget that is shapped like a "ghost"...I had it made into a tie-tac. A good quality (22-23 Kt.) picture nugget will normally sell at 3 to 4 times the value of its weight.

    The next most valuable nuggets are called "Pendant" nuggets...they are nuggets that are both attractive and large enough to make into a pendant.
    People who are familiar with nuggets can generally within a reasonable range, estimate the purity of a nugget by it's color. This is because nuggets are alloyed to other metal(s) and different amounts of metals depending on where the nugget geographically originated. The most common alloyed metals are silver and copper...both of which depending on the comparable amount present create distinct shades of colors. If the colors the person has that your talking about came from one geographic area then they will generally all have similiar purity. Any one who is familiar with the gold in that area can tell you what the purity of the gold is.

    Most "medium" size collors (often called "flakes") are best sold to artists who do inlay work and jewelers who make and repair settings. Some dental labs will also pay a pretty good price for flakes. The advantage of flakes is that a person doesn't have to cut any gold up...they simply melt the precise amount of gold they need for the particular application.

    Fine and flour size colors are generally ultimately sold to a refinery.

    The gold you are referring to can probably be most easily sold on craigslist for a fair amount. Just provide pictures and weights...I would offer nuggets separately.

    A more visually attractive (desirable) nugget is worth more than a less attractive nugget of the same size and purity. With gold at $1100.00 a fair price for a non-jewelry grade nugget is about $2.25 per grain. I would ask about $4.25 and up for picture nuggets, $1.75per grain for medium size colors (flakes), and $1.60 per grain for fine size colors.

    Also make sure that if a deal is struck that you meet in a safe place...inside a bank is best. After you get the money tell (lie if you have to) the buyer that you are going to deposit the funds in your account there...wait until s/he leaves the bank and parking lot, then leave yourself.

    Hope this helps; best of luck.
    "Big rocks, big gold". Love those big rocks.
    Boulder
    Last edited by goldminer; 16th February 2010 at 21:55.

  4. #4
    Join Date
    Dec 2009
    Location
    North Idaho....The Silver Valley
    Posts
    1,495

    Default Thanks Fellas

    For the info....and the class.....I had no idea

    I'll pass it on.

    Curiosity will not kill the C/Kats of SS Nation!

  5. #5
    Join Date
    Feb 2010
    Posts
    3

    Default

    I used to detect out at Gold Basin AZ. For the money the Fisher Gold Bug II is your best bet. I also liked the old White's Gold Masters especially the GM 3, very good for small nuggets. The SD's are very good but very expensive and heavy. What's your budget for a machine? Also did fairly well drywashing out there. After I found a good spot drywashing I'd always go over the area with my detector or visa versa. If you decide to buy a new SD contact Doc there in Vegas and I'm sure he'd take you out and show you how to use the machine, he's a very nice person.

  6. #6
    Join Date
    Aug 2007
    Posts
    403

    Default

    Agree. A Gold bug II is an excellent buy for nugget shooting, and the lower unit is waterproof so the unit can be used in streams...just make sure the box doesn't get wet. Better detectors are made by Minelab but they're too more expensive and totally waterproof....great for underwater use...diving and snorkeling in beach coves, especially after a good storm (northeaster on the east coast).

    beach miner: What is the purity of the colors you recover from Az. Most of my prospecting and weekend mining has been in the Carolinas and N. Georgia. All of the colors are very high quality: 21-22 Kt. (= 91 to 96% pure Agshaman).

  7. #7
    Join Date
    Mar 2008
    Location
    Alaska
    Posts
    491

    Default Goldminer: I have always enjoyed your posts

    First off I'd like to say that I find Goldminer to be the Best Poster on this forum. His information is always correct, and detailed. He knows more about P.M. than anyone else on this forum. I, like most guys who "have some ground" don't like to speak about it too much. This forum is as public and social as I have Ever Been. So rather than diving in, I'll opt to wade in slowly. I live in Wasilla-Sarah-Alaska. I got my start at Nome on the beach. Buzzard and the GPAA where a few miles up the beach, they where mechanized. All I can say is that it was the best Gold Mining experience I ever had. I'd go up every summer for a few weeks, each time learning more and more. The Beach gold is very fine-as in mesh size, a vile of it when poured on a sunny day is a great sight to behold, it pours like liquid gold, slowly like oil. Since it has been washed in salt water and polished by the sand, it is clean as an angel's hair. Guy's set up along the Beach in shanties built of drift wood, and store bought tents. Each site was a Hot Spot on the Beach where the winter high wave action had concentrated the Gold and Black Sand. Many new guys got skunked, a few new--like me--got a few ounces; enough to get us to come back the next year and get better, smater, and more productive. If ya want to know more, let me know. God Bless ya Goldminer, See Ya At The Top.

  8. #8
    Join Date
    Dec 2009
    Location
    North Idaho....The Silver Valley
    Posts
    1,495

    Default End of the rainbow....visited @

    This afternoon I'm gonna visit her shop and take some photos with my digital camera and see if I can upload them for you Cats later today.

    I'd be interested in your opinions drawn from viewing said photos.

    Curiosity will not kill the C/Kats of SS Nation!

  9. #9
    Join Date
    Jun 2008
    Posts
    516

    Default

    Quote Originally Posted by beach miner View Post
    First off I'd like to say that I find Goldminer to be the Best Poster on this forum. His information is always correct, and detailed. He knows more about P.M. than anyone else on this forum. I, like most guys who "have some ground" don't like to speak about it too much. This forum is as public and social as I have Ever Been. So rather than diving in, I'll opt to wade in slowly. I live in Wasilla-Sarah-Alaska. I got my start at Nome on the beach. Buzzard and the GPAA where a few miles up the beach, they where mechanized. All I can say is that it was the best Gold Mining experience I ever had. I'd go up every summer for a few weeks, each time learning more and more. The Beach gold is very fine-as in mesh size, a vile of it when poured on a sunny day is a great sight to behold, it pours like liquid gold, slowly like oil. Since it has been washed in salt water and polished by the sand, it is clean as an angel's hair. Guy's set up along the Beach in shanties built of drift wood, and store bought tents. Each site was a Hot Spot on the Beach where the winter high wave action had concentrated the Gold and Black Sand. Many new guys got skunked, a few new--like me--got a few ounces; enough to get us to come back the next year and get better, smater, and more productive. If ya want to know more, let me know. God Bless ya Goldminer, See Ya At The Top.
    Have you considered running a detector along the banks of the Yukon after the flood up in Eagle last year? A friend of mine says it scoured the sides for miles when the ice finally broke free.


    I used one of the first White Eagles when they first came out. First time out I stumbled onto a piece of sponge gold encrusting a nice garnet crystal. 135 grains total ----beginners luck! I was working a hillside with a small recycling system and a small sluice one day and ran the detector over my work area when I was packing up. I dug a chunk of monzonite out of the roots of a bush with 4 ounces in it. Pulled 10 oz. off that hillside that day.

  10. #10
    Join Date
    Mar 2008
    Location
    Alaska
    Posts
    491

    Default Great work Fullsafe

    Wow: That was some good ground you where on. I have never been in that area, always spent my time in Nome. But it costs so much to fly up there I just might check out the Eagle, Chicken, Yukon area. Nothin wrong with the older detectors. Your right about last spring raking the banks, that ice really did a number up there. As I recall we didn't get a lot of rain last year, so the river might not have done the flooding, washing of the banks. Hopefully the stuff that was broken loose from the banks, didn't get washed downstream. That makes for easy pickins. As you can testify. Glad you made it up here. Think ya might be back.

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