Have you ever seen a gold nugget this big? You may also be wondering if gold nuggets are worth the same as regular gold and what do you do with gold nuggets? Some people melt them down and sell them, but most people advise against this beca...
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Have you ever seen a gold nugget this big? You may also be wondering if gold nuggets are worth the same as regular gold and what do you do with gold nuggets? Some people melt them down and sell them, but most people advise against this because gold nuggets like these ones seen here are collector's items and you can make more money per ounce by selling them as a whole nugget. Refined gold trades for about $445 per ounce and small gold nuggets even sell for $560 per ounce. The larger gold nuggets are more difficult to find, however, which makes them more valuable at around $1,000 per ounce. So if you melt them down, you'll lose a lot of their value. Gold prospectors only find a small amount of gold in the form of nuggets, or pieces of placer gold which are gold deposits found in streams. The smallest gold nuggets are called screen gold, and they are very light, less than an ounce in weight.
So who buys these precious gold nuggets? Both Jewelers and collectors buy gold nuggets just as they would gemstones, and most of them are 85% to 95% gold with other trace minerals included. Those nuggets that have more minerals are not considered jewelry grade, and so they're melted down. So gold nugget hunters would be thrilled to find gold nuggets the size of the ones you see here. Since gold tends to have a malleable consistency, it tends to be quite sticky which is how these gold nuggets are formed. All of the gold particles can stick together or weld together by pressure as the gold pieces travel down a river or stream. The groundwater dissolves and leaves gold behind that sticks together. Also, gold nuggets in modern placers will often come from the erosion of old placers also known as paleoplacers which are thousands of years old. Sometimes hard rock gold is missed because it ends up getting hidden under the placer.
Once you have a gold nugget if you're lucky enough to find one, what do you do with it? There are some places and people who buy gold nuggets and flakes, but some don't pay you what the gold is worth. To make sure that you get the most money for your gold you will want to get familiar with the top merchants that are buying gold. That way you'll know that you're getting the best value for your gold. Gold is also always rising in price, and more companies claim to offer you top dollar for gold jewelry and nuggets. The key is to not trust just anyone who wants to buy your gold.
First of all, you have to determine how much gold you have by getting yourself a high-quality digital scale to give you an accurate measurement. You can buy one at Wal-Mart or Amazon and then you can weigh it and figure out the weight since gold is bought based on how much it weighs in ounces or grams. Then, you can check what gold is worth per ounce from places like eBay Gold Prices, GoldPrice.org and Kitco Live Gold Prices. Once you've figured out how much gold you have and how much it might be worth, then you want to start seeing who can buy it from you if you want to sell it. You can look in your town or city and find out where the gold stores are and talk with someone to see what they're paying for gold. Always check with more than one place, and compare the pricing and see if you can bargain with them to make yourself the best deal.