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Buying Gold Nuggets

PostPosted: Sat May 07, 2011 2:17 pm
by marblerye
What do you guys think about buying small (~0.5 gram) gold nuggets? I know these nuggets are probably only 20-22 k gold at best, and not 24k pure but I wonder if this is a practical way to buy small amounts of gold over time? There are several sellers on Ebay that have sold thousands of these nuggets and they have good feedback. Sometimes I just look at the premiums on the small fractional gold coins and shudder...

Re: Buying Gold Nuggets

PostPosted: Sat May 07, 2011 5:26 pm
by argent_pur
Do you have electronic testing equipment to verify the nuggets are real? I'd stay far away if you don't! The premium you pay for smaller coins will be worth it when you go to re-sell. Coins are of a standard weight, standard diameter and thickness, etc. Fake nuggets are alot easier to make and because the weight isn't standard, you could be buying a 1/2 gram of pretty brass and you wouldn't know it without a tester.

Buy a $20 digital gram scale on ebay. Learn about the coins you want to buy and weight them, check the diameter and thickness and if all checks out, you can rest easy ;) 99% of all faked coins are numismatics, and the ones that aren't are either too light, too thick, or too wide.

Re: Buying Gold Nuggets

PostPosted: Sat May 07, 2011 10:09 pm
by Mossy
I regard nuggets as jewelry material, sort of a "collectible", having lived in areas where nuggets were found. Good investment when times are good, maybe otherwise when they are bad. Prospectors want to sell them for a premium over what the refiners want to pay, so "where's the deal?"

Re: Buying Gold Nuggets

PostPosted: Sat May 07, 2011 11:36 pm
by andrewjackson
8-) There are several reputable nugget sellers on eBay. I have done business with several in Alaska.
As a gold prospector I can say that in my region gold purity runs 22-23 karat. Some areas including Alaska the purity might be lower. I really like gold nuggets, you might call it gold fever. No two nuggets are the same. I guess I'm a bit biased but ,I think they are a good investment. They are rare, and are able to be purchased in small increments.