Gold Dust
 

Does anyone know the going rate to buy placer gold flakes and "popcorn"? A friend of a friend has a small working placer mine and since gold coins are getting rare, I thought I'd see if he would be willing to sell some of his placer gold flakes and small nuggets. I think I remember someone telling me that jewelers pay 80% or 90% of spot (due to impurities in the flakes). I want to be informed before I approach him.

Re: Gold Dust
 

I have a close friend who's family is in jewelry. I will look into it during the week and see what I can come up with

Re: Gold Dust
 

That sounds about right. Need to get it assayed when go to sell it though, even to a metals dealer. I was offered to buy some gold placer but as long as bullion is still available am hesitant. I have also heard the nuggets, good ones can go for more than spot if a jeweler likes its qualites. Gcube might have some good info.

Re: Gold Dust
 

What the old-timers called gold "dust" is now called "flour" gold. Flour gold is any color (each particle of gold regardless of size is called a "color") that will pass through a 40-mesh screen (40 holes per linear inch). Window screen used in houses is about 18 to 19 mesh.

"Pure" gold does not exist outside a laboratory and "native" gold varies widely in purity. The only way you can tell is to melt and assay it. This said, gold from a particular geographical area is usually about the same purity so someone may well pay 80-90% for native gold from a specific area...but only if that gold is very high in purity; say 22 to 23 Kt. (about 91 to 96% pure).

A prospector needs to develop his or her own market to get the most for the hard-earned colors they recover. The most money for flour size colors can be obtained by putting a grain to a grain & a half in a glass vial filled with water, and selling it as a novelty item at gun shows, flea markets, jewelry shop consignment, etc.

"Fine" size colors (any color that will pass through a 20-mesh screen (20 holes per linear inch) but not though a 40-mesh screen are also best sold in small vials as a novelty.

"Medium" size colors (any color that will pass through a 10-mesh screen but not a 20-mesh screen are best sold to inlay artists, jewelers who make custom settngs and repairs, and dentists & dental labs.

"Course" colors are another story. Course gold is any color that will not pass through a 10-mesh screen (10 holes per linear inch). These colors are also called "nuggets" and by prospectors: "pickers" and "clunkers" - they can be picked out of a pan with fingers, and will make a (WONDERFUL) clunking sound when dropped into a gold pan.

Nuggets are valued individually. Gold nuggets are rare, there are more diamonds found then gold nuggets. Nuggets are classes as "small", "medium" and "large", and value is determined by weight, size, shape, and texture (irregularities on the surface)...all of which create visual appeal unique to each nugget. Those suitable for jewelry applications are called "jewelry grade". The most valuable medium size jewelry grade nuggets are "picture" nuggets...a color that has the shape of an alphabet letter, or some other object like a dog, a tree, a person, a house, a ghost (I have one I call my "Casper" nugget that I had made into a tie tac), etc.

"Pendant" nuggets also are valuable. These are colors that have great eye appeal and are large enough to serve as a pendant.

NEVER be in a hurry to sell your colors.

Hope this helps.

Re: Gold Dust
 

Thanks for the post there Goldminer,I learned something.
I sure wish that I lived near gold deposits.
CR

Re: Gold Dust
 

According to your classification, the gold that comes out of this guys placer claim (that I have seen) is pretty much small nuggets, large flakes and small pickers. Any idea what would be a fair price for his gold without having to assay it? His claim is in the motherlode area of the California.

Re: Gold Dust
 

Goldminer, (or anyone who might be able to help),

Is a 16 gram nugget considered small or medium? Would it carry a premium over it's melt value?

Someone showed me a nugget today and asked me if I knew it's value. I told him I didn't know if it had value over the gold melt value, but I might be able to ask someone who might know more. I remembered this thread and thought maybe you might be able to give some info on his gold nugget.

Of course I realize that without actually seeing it you can't give a definitive answer. We're just looking for some general info on if he should sell it for scrap or if he might want to give ebay a try and see if he could get more.

Thanks

Re: Gold Dust
 

My two cents-

California placer runs 870 to 910 fine. Anything smaller than 1/8" gets 90% spot.

Nevada placer runs 760 to 790 fine gets 80% spot for 1/8" and under.

Both are cash deals

Nuggets over an 1/8" to a 1/4" gets 10% more.

Over a 1/4" gets spot + 20%.

All of the above based on weight of course.

CC

Re: Gold Dust
 

Thanks CrazyChicken.

This nugget measures about 1 -3/4 inch long. So I think he should probably try to sell it rather than scrap it.

Re: Gold Dust
 

If it is 1 3/4" long and I wanted to sell it I would start at double spot. If I was trying to buy it I would start at spot.

EBay most likely the best place to start. Put the reserve at 1.35 spot. Nothing ventured, nothing gained.

Any pictures?

Good luck.

CC

Re: Gold Dust
 

Here you go.

Re: Gold Dust
 

After seeing the pictures I would think the long one would be worth 1.4 spot. It is large but the bottom "tail" seems to have a fault that would make it easier to break off. Based purely on the picture of course. The middle one probably 1.5 because it is a more interesting visual.

Very nice.

CC