Selling Gold

This page is a response to an e-mail question. Since most people treat gold prospecting as a hobby, not a job, very few members find enough gold to sell. What gold we find, we keep to look at or show off to others. After putting in the effort to find some gold, we are loathe to part with it. However I will try to present some ideas for selling your gold. Thanks to Bob Boor and George Volker for their input.

Gold nuggets are the easiest to sell, especially those with certain characteristics. In every case we are talking about natural nuggets, not manmade ones by melting fine gold. Obviously the bigger the piece the easier it is to sell. Crystallized gold is rare and easy to sell. Gold with distinct interesting shapes. Gold attached to other minerals that make an interesting display specimen. All these command a price above the spot price of gold. Be aware that most gold is not pure and there are smelting costs for bulk gold so don’t expect spot price for your fines and pickers.

Ideas for Selling

  • The easiest method is to ask those members who find the most gold if and where they sell their gold. There are usually a few members who devote the time and energy required to be successful at finding gold. These members are usually well known in the club.
  • Sell gold on e-bay. Just be careful to fully disclose size and weight of nuggets. See the article “How not to get ripped off buying nuggets on Ebay” on gold-nuggets.org for information on how to list nuggets for sale.
  • The Club continually buys gold of a specific size, which is used for the nugget raffles. The DGD does not buy any other gold.
  • Depending on your talent and imagination, you can make gold jewelry or keepsake items to sell locally or on the web. I have met one person who does this. This is obviously extra work but gives the best price, much higher than any other method of selling gold.
  • There are dealers that advertise in the California Mining Journal to buy gold.
  • Jewelers are often interested, particularly in nuggets.
  • Attend gem or mineral shows such as the Tucson Gem & Mineral Show.

Other Ideas

  • Some members turn their gold into jewlery (or have it done) for themselves or their spouses. Spouses tend to be more tolerant of prospecting expenditures if they receive a direct benefit.
  • Turn your gold into a nice display to impress your friends, co-workers and neighbors.