Buying Gold Nuggets
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When buying gold nuggets, it all depends on what you are looking for and how much you want to spend.
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Gold nuggets come in all kinds of shapes, sizes, prices, and purity. There is a lot to consider when shopping for a gold nugget.
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Gold nuggets are available to buy from Mints, Dealers, and private sellers like a Museum. You may sometimes have an opportunity to buy directly from the Miners if you have a source.
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You must be aware when buying gold nuggets because it comes with risks. While there are plenty of reputable sellers out there, there are also those who like to take advantage of buyers who don’t have enough knowledge.
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Be aware of what you are buying and from who. Here are some safety points to consider:
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Evaluate the Seller
You can’t go with any seller when it comes to something as valuable as gold, be sure you’re buying from a trustworthy source. A reputable dealer will provide you with a certificate of authenticity and a map locating where and when the gold was mined.
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We buy our gold nuggets directly from miners. Each of our raw gold nuggets come with a certificate of authenticity with a map locating where and when the gold was mined.
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Check out the Customer Reviews
The reviews will tell you a lot about the seller. Customers always like to report their experience, good and/or bad.
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Review the Current Gold Price
A good habit before purchasing gold nuggets you find worthy is to do a little research on gold price first. You may find the seller is asking for far more than it is worth! By knowing the general price of gold, there is less chance you will be taken advantage of.
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Pay attention to the Weight
Grams and Grains are Different. It is crucial to pay attention to the weight, as you could end up misreading and buying gold nuggets you thought were much heavier than they are. One of the biggest mistakes new gold nugget buyers make is mixing up grams and grains. Beware because the weights are vastly different, with grams weighing far more than grains.
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Check if they offer Returns
Does the seller you’re buying from offer returns? If you are ordering online, it’s better to order from someone who makes returns simple. Even if you receive the item exactly as advertised, it might not meet your expectations, so it’s always safer to know that you can return it if you want or need to.
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Ask for a Size Reference
It is not always easy to see how big the nugget is, and some sellers make them appear bigger than they are. For this reason, ask for a size reference when purchasing (for example, a picture with a ruler behind the nugget)
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Perform a Gold Acid Test
If you are still skeptical and want to be completely sure that you are buying quality, then the safest way to do so is by using a gold acid test kit. Once you receive your gold from a new seller, the first thing you should do is test it, and if it is not as pure as advertised, start the return process or file a dispute with the seller.
Acid Gold Testing is done with an acid kit. You can complete it yourself by creating a small scratch in a section of the gold that is unnoticeable and will not ruin the appearance of the gold (for example, on the underside). The scratch will help the acid penetrate deeper into the metal and provide a more accurate result.
Place a small drop of acid onto the scratch on your gold starting with the lowest Karat acid (9 Karat). The acid kit should come with acid for all Karats of gold. The reaction of the metal to the acid will tell you which Karat your gold is.
Observe the reaction of the acid and reference the color of the material with the color chart provided with the kit. Material that is gold-plated or not made from gold at all will normally turn green or bubble; if the color match is inconclusive, clean the gold thoroughly with a clean rag and repeat the process with the next Karat acid.
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Now you own a precious gold nugget. A concern is if you are looking to sell your gold nugget, how do you value it to the buyer? For example, a gold coin has the details imprinted directly on its surface. A sure sell. A fast sale.
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Bottom line
Buying gold nuggets it’s more for collectors who love gold. However, as an investment, it’s not a wise choice. Selling your precious gold nuggets requires a specific unique buyer who may not be easy to find when you are looking to sell for fast cash.
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