Selling Gold - Are Bigger Bits Worth More?

[Jin]

Decided to offload all my gold. I've never sold gold before and not sure if you just approach a gold buyer and sell it for whatever they're prepared to pay. Obviously, it will be less than the gold price and also less to account for impurities. Now I don't have any wopper nuggets to sell but just curious if my two 16gram bits would be worth more if I sold them privately, say on eBay or on a gold prospecting facebook page? If so how do price them?  

[IronDigger]

Jin, sell your gold on EBay. Ask spot plus, shipping cost and eBay fees. 16 gram solid nuggets can fetch you a lot more ... you just have to find a buyer. Otherwise take some pics and post it on all the forums....and asking price. Good luck!

[Northeast]

Hi Jin.  I've sold a bit on eBay but remember the fees - they are a little prohibitive. 

Have also sold on the Prospecting Australia forum which was fine. Easy, no fees, good price.

Pieces under 5 grams I just ask for the gold price. Bigger bits I have asked for a bit more - depends on if they are plain or pretty. 

Just a note on sending them.  Australia Post do not cover 'bullion' by insurance.  I didn't know this when I sent mine and the lady at the AP desk in Myrtleford even knew that it was gold and said it was fine     There is a good thread here  https://www.prospectingaustralia.com.au/forum/viewtopic.php?id=23319 

#9 post by Secret Squirrels in particular is very informative. 

Good luck with your sales  

[phoenix]

Jin from my experience you`ll do better on Ebay than rocking into a gold buyer.    A gold buyer near me pays spot minus 17%, and that`s ok, they`ve gotta make a profit, but if you want to put in the effort, take good photo`s, good descriptions, stuff like that,  most times you`ll get spot or better on Ebay.  You can sell "at auction" and just take what you get, or you can set a no auction "buy it now" price.   Don`t scrimp on postage, always pay for registered post and post in the proper padded bags. cheers

[vanursepaul]

Barry in Tonga

[Northeast]

28 minutes ago, vanursepaul said:

Barry in Tonga

Michael in Tallahassee 

[madtuna]

With Aust post make sure it's registered and insured post.

I sent a Swarovski  rifle scope off for a service, registered with signiture required. Disappeared into the ether it seems.

They've just agreed to reimburse me $50 + postage. Not bad for a $1700 scope

[Northeast]

MT - they actually won’t insure bullion though - that’s the issue. And bullion includes unprocessed gold when you look at their definition. 

The only other option is to call it something else - a $600 computer micro chip or something that they will insure.  

[geof_junk]

11 hours ago, Jin said:

Decided to offload all my gold. I've never sold gold before and not sure if you just approach a gold buyer and sell it for whatever they're prepared to pay. Obviously, it will be less than the gold price and also less to account for impurities. Now I don't have any wopper nuggets to sell but just curious if my two 16gram bits would be worth more if I sold them privately, say on eBay or on a gold prospecting facebook page? If so how do price them?  

With gold price of Au$1650 @ the moment with Ebay 10% of final sold price,

you would have to sell at Au$1833 just to cover  their commission only of Au$183 for your 2 nuggets of approx. 1 ounce with no mailing included.

Best bet is sell nice bit at gold fields caravan parks as most hobbyist will pay gold price plus.