Selling gold - how, why, where

[Diggertom]

Double the price is generally anything over half ounce as a natural nugget. But just because they ask that, doesn't mean that they get that. You have to look at auction only, then time ending soonest to see the "real value".

That being said I see it go as high as 50% more than spot price. Though you lose your ebay fees and paypal fees so it brings what you make down a bit.

Tom

 

[Guest]

Thanks for that RJ and DT. I'll go and have a double-brandy and let that all sink in.

And I hear what you're saying RJ. The likes of Michael Jordan didn't get that repugnant amount of money from Nike; by them paying the kids in the sweat-shops a living wage!

 

[mbasko]

Don't count the chickens before they hatch. I'd save the double brandy until after you start getting out gold detecting. You may need it more when reality sets in? :lol: It's a lot harder (& expensive) to find than it is to sell.

 

[SCROUNGER]

Somebody's got gold ($) fever :lol: :lol: :lol:

 

[Guest]

Well, yes and no. It won't be nearly as hard as when I was up in Forsayth at Western Creek and over at Mt Clayton using a bloody Garrett AT Pro in 40 degree heat. So I'm not a complete 'tender-foot' here. The difficulties of finding are only too apparent after my experiences up in Nth Qld.

And the brandy is to assist in anesthetizing the pain that will more that likely arise when I start to negotiate with owners, for access to prospect on their property. Enter a bottle of Bundy for the owner...to grease the skids a little.

 

[RedDirtDigger]

Hi Sunrise Boy

If you want to sell 5 or more ounces of not so pretty gold, you can send it to a refiner. The assay tests/ refining cost is around $140, they pay the daily gold price less about $40 per oz. But the money is in your bank 8 days after they get the gold. Of course you need to pre-factor in about a 6-12% loss of you gold on refining (impurities and silver content of all gold).

If you want to sell nuggets from your patches that have a very high silver content sell them on ebay.

If you want to sell crystalline gold or nice pendant nuggets go for ebay.

If you want to sell shapely slugs over about 20 ounces in size, or very nice crystalline nuggets seek out some of the private gold collectors, or dealers who go to the big US mineral shows.

If you want to sell your slugs that are over 200 oz in size.....well that's when the magic happens.
RDD

PS Never ever acid treat your bigger nuggets. give them a quick scrub in water and the buyer will clean them to the level they want

 

[Goldtarget]

2 reasons.
Gold is not so easy to find, if you don't get to the Goldfields much (let's face it most of the members here spend at least some time at the most accessible Goldfields in the world) it's not easy to pop out a nugget or alluvial.

Second reason is gold speaks a global language. Walk into any country in the world you can trade gold. Would you rather be paid in kissi money in the middle of Sierra Leone or big fat nuggets and diamonds? Alot of black market trade comes from gold swap thus making it even more desirable and harder to get your hands on. Stores small, weighs heavy, and is worth good trade with little to no risk. Gold no matter in abundance or scarce is always wanted.

 

[Guest]

RDD and GT, thank you for you Big Brotherly direction and advice. The likes of which hadn't crossed my tiny radar, as it were.

I'll have to learn a bit more about the BM trade referred to. I'll PM you and if you might, give a little more clarification on that score.

Thanks again fellas.

 

[bluejeansronald]

Will someone tell me what the best method, or protocol, is for selling gold, please.

Hi Sunrise Boy, I sold many ounces on ebay, I found a lot of people buy and dont pay for a week or next payday never worried me the price was that much better,My tip is on postage,Put your gold in a tiny plastic bag stick it in the center of a bubble post bag so it cant move around no won will know what it is, always send with with sine for tracking post i never lost one,Ron

 

[Guest]

Thanks for that Ron. Though I'm a bit fuzzy on the comment, 'a lot of people buy and dont pay for a week or next payday'.

Will you clarify that a bit more please?

 

[bluejeansronald]

Thanks for that Ron. Though I'm a bit fuzzy on the comment, 'a lot of people buy and dont pay for a week or next payday'.

Will you clarify that a bit more please?

Hi Mate, I have had people buy my gold no payment i contact them after three days ask is this sale still a live , they say yes but we cant pay till next week or next payday, I trust them to pay, I have sold my gold fore a good price so i wait, when you list you should ask for payment in one or two day payment,what helps get a good price i keep my gold in different containers marked day date and place i find it collectors like this imfo mostly worth 3/5 dollars per gram more. Hope this helps.Ron.

 

[Guest]

Thanks Ron. But I would have thought that payment up-front via PayPal is the only way to go these days. I've been scammed a couple of times buying stuff using direct debit. Using PP is the only way to go; in my opinion.

 

[bluejeansronald]

Thanks Ron. But I would have thought that payment up-front via PayPal is the only way to go these days. I've been scammed a couple of times buying stuff using direct debit. Using PP is the only way to go; in my opinion.

Hi mate that never red right, I mean i give them time to pay before closing sale and relist,NEVER send before money in bank or paypal, another scam when you ad tracking No, They try to reverse sale and get there money back after you post ebay mostly stop them,Ron.

 

[Guest]

Thanks for that Ron. I really am pretty naive. I'd never heard of that reverse sale scam.

Yep, there are some incredible scammers out there.

 

[Nuggetbuster]

One quick phone call to a metal detector dealer will provide the answer to your question

 

[AussieGamer_Ben]

guys I need some help.
im just wondering if u need a license to sell gold at all. or does it go by how much ur selling. thanx in advance

 

[Diggertom]

Depends on which context you mean sell.

Under your prospecting right you are allowed to sell the gold you mine yourself, or any other minerals that you extract.

If you wish to buy and sell gold you would need a licence similar to a pawnbroker I believe. Also you would need to operate under a ABN and pay tax on profits ect like any other business.

 

[Guest]

Check this line of post. click on the link. cheers

https://www.prospectingaustralia.com/forum/viewtopic.php?id=15212

 

[AussieGamer_Ben]

Depends on which context you mean sell.

Under your prospecting right you are allowed to sell the gold you mine yourself, or any other minerals that you extract.

If you wish to buy and sell gold you would need a licence similar to a pawnbroker I believe. Also you would need to operate under a ABN and pay tax on profits ect like any other business.

like if I found gold and took it too my local buyer ( he is at a hock shop) to sell. I wouldn't need a license

 

[Diggertom]

H

Depends on which context you mean sell.

Under your prospecting right you are allowed to sell the gold you mine yourself, or any other minerals that you extract.

If you wish to buy and sell gold you would need a licence similar to a pawnbroker I believe. Also you would need to operate under a ABN and pay tax on profits ect like any other business.

like if I found gold and took it too my local buyer ( he is at a hock shop) to sell. I wouldn't need a license

In that situation you wouldn't not need a secondhand dealer licence no.

Still depends on a few factors.

First and foremost, you would need a prospecting licence to be able to do that legally. Although the people buying gold generally Won't ask to see it, the bottom line is you would need it for the state you extracted the gold in, and sold to I believe.

Secondly, depending on your state and territory will depend on how much you can sell, and whether you would have to pax any taxes on it. For instance in South Australia, you can't get a prospecting licence, and any minerals inclusive of gold you find are legally property of the Crown and you can only keep for mineral specimen purposes. Even when found on private property.