How to Sell Placer Gold

By Larry Parr

  • Overview

    Placer gold is any natural gold nugget that has neither been refined nor changed in any way. Most placer gold is only about 80 percent gold, with the remainder made up of silver and other metals. But placer nuggets, because of their beauty and rarity, sell at a considerable premium over the intrinsic value of their gold content--sometimes 100 percent to 200 percent or more, in fact.

    • Step 1

      Knowing the price of pure spot gold is a good starting point in your quest to fetch a premium for your nuggets.

    • Step 2

      Take your placer gold nuggets to a large local jeweler. Have your nuggets wrapped in a dark blue or black velvet cloth so that they are displayed at their finest. You are not selling gold, but fine gemstones.

    • Step 3

      Each nugget should be weighed before selling. Do not accept a price lower than the current price of spot gold for your placer nuggets and, in fact, you should hold out for a considerable premium.

    • Step 4

      Take clear photos of your gold nuggets, making sure the lighting shows off every detail. Place a ruler or a dime in the photo so the viewer can judge the size of the nugget more clearly.

    • Step 5

      Post your photos on eBay or one of the other large auction sites. Indicate the size and weight of the gold. You may wish to place a minimum bid equal to, or slightly higher than, the current spot price of pure gold. If your nuggets have much intrinsic beauty, expect them to sell on Ebay for a good premium.

    • Step 6

      Take your 1 ounce-or-larger placer nuggets to an auction house. A properly publicized auction can bring a tremendous premium over the spot price for nuggets of exceptional size or beauty.
    • Skill: Easy
    • Ingredients:
    • Placer gold nuggets
    • Tip: If you sell your placer gold to a refiner, you could end up getting approximately 64 percent of the spot price per ounce.
    • Warning:
    • Shop around at local jewelers if you have exceptionally fine or large placer nuggets. Since the price you will be offered is based on the perception of value rather than intrinsic value, the price you will be offered by different jewelers can vary greatly.

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