There are a lot of gold buyers out there who will be happy to pay for your hard-earned gold. If you have some gold nuggets up your sleeve, there are some things you need to know. Selling gold nuggets is not that simple, and there are certain things that you need to consider before approaching a buyer.
One of these considerations is the value of the gold you’re carrying. After all, you don’t want to be paid less than what it’s worth. But how do you know how to price your gold fairly? There are several factors that come into play, and we’ll break them down into actions you can take.
Know Its Weight
Invest in a high-quality digital scale to identify the accurate weight of your gold nuggets. It’s crucial that you know how much your nuggets weigh before you start selling them.
Get Clear on Rarity
One of the factors that affect the value of your gold nuggets is its rarity. How would you know the level of rarity your gold nugget has? The bigger the nugget is, the rarer it is. These days, finding huge gold nuggets is not easy because most of them have already been found, melted down, and used.
Know the Valuable Shape
Gold nuggets come in endless different shapes and structures. Knowing if your nugget is a particularly rare structure or shape will most definitely add to its value.
Look Into Its Beauty
A jewellery-grade nugget that is lustrous and relatively free of other sediments is considered attractive gold. This will allow you to sell your gold nugget for a higher price.
Know Its Purity
Many gold nuggets contain impurities that can reduce their price. Make sure to have the gold nuggets appraised to check for impurities.
Aside from knowing these factors, here are some things to avoid when selling gold nuggets:
Selling Quickly – Some gold nugget sellers sell in a hurry for some quick cash. However, you need to take your time if you want to get the most out of your nuggets. Watch the market and follow the spot gold price as a rule of thumb.
Not Researching – There are many buyers of gold nuggets out there and it’s not practical to sell your nuggets to the first person you see. Research properly and read reviews. You want to sell your valuable nuggets to someone who really knows how much they’re worth.
When it comes to selling your gold nuggets, keep in mind that timing is everything. Don’t rush a sale and don’t wait until you’re at the point that you’re desperate for cash. This will lead you to sell gold at a low price. Instead, wait until the spot price is high before you decide to sell.
Make sure to sort out your nuggets and separate the nice ones so you can get a better price for them. Once you sell your nuggets, move on, and don’t dwell on it. There are many miners who dwell on the sold price and get devastated when prices for gold are higher than they were when they sold their nuggets.
That’s just the way the market works. You’ll never really know when gold prices will peak. What’s important is to know the right time to sell and sell it to someone who really knows the value of gold nuggets.
Several factors affect the price of gold nuggets, and you should be aware of them when you’re selling yours. With many gold buyers out there, you want to make sure that you’re getting the best price possible.
Need cash for your gold nuggets in Australia? Trust our experts who will give you the best price here at Gold Nugget Shop. Contact us today to find out more.