If you have a gold nugget collection you may want to sell them to make money. There are thousands of gold buyers in Australia who would gladly buy your nuggets but they are all different in how they conduct business. You have different options available to you when you want to sell gold nuggets Melbourne.
#1. Cash-for-gold- businesses
You’ve seen them all over your TV, those 2 am adverts of people who want to buy your gold. “Send us your gold,” they say, “and as we will send your money.” If they are not on TV, then they are on the internet or on the corner store with blinking lights beckoning you to give them your old gold for cash. There are some good companies and a lot of bad ones who just want to make money off you. Check their website to see what rates they are paying or call to find out. Some of these gold buyers can pay 90% of the spot price.
Pawnshops are pretty much like loyal gold buyers and cash for gold businesses. You can take your gold to a pawnshop physically rather than have you send your gold by mail. Unfortunately, pawnshops don’t offer the best price for gold and most don’t know how to price nuggets. Most Pawnshops payaround 60% of the spot price. It would be extraordinary to get more than 60% of spot from a pawnbroker. Often a pawnshop will just re-sell the gold to a gold buyer.
Refineries buy gold from gold dealers and pawnshops. Pawnshops and gold buyers give you a price based on what they expect to get from a refinery less a margin. In essence, they are middle men who take a percentage of what your gold is really worth. If you have gold with a purity between 85-90%, then perhaps a refinery is the best option for you, you can expect to get at least 95% + of the spot price. The only drawback with dealing with the refinery is account signing up, slow turnaround times and minimum weight requirements to make it worthwhile.
People have been selling gold nuggets on eBay for years. EBay enables you to show your gold nuggets to a number of potential buyers. You will have buyers bidding on your gold nugget. The downside of selling nuggets on eBay are the fees that can run anywhere between 6 and 12% and then you have to pay 3% to PayPal. There is a cost attached to shipping as well. There are also scammers who have taken advantage of sellers on eBay. However, it should not be discounted as a viable option to sell gold nuggets Melbourne, especially if you have a nugget that resembles something such as a map of Australia.
#5. Gold nugget dealers
Australia has a rich history of gold. People have been finding gold nuggets since the 1800s. People have been selling gold nuggets since then so it stands to reason that there would be an industry of gold nugget dealers who know enough about the real value of gold nuggets to offer more than a fair price. They could potentially offer more than what a pawn shop or a cash-for-gold dealer will. Most buy gold nuggets for their rarity and not to their melt value, therefore some natural forming shape that resembles something is desirable.
#6. Auctions and special shows
Once in a while collectors set up rock shows where they get to showcase their rock specimens and gold nuggets to gold nugget collectors. Being part of which shows may require special fees and would require extra effort.