Gold nugget found in box of jewelry.

[cyberdan]

I don't usually post on this thread but I am curious on the value of this item. I bought over 200 pounds of junk jewelry from someone I met at a yardsale. I have pulled out a lot of nice things but I came across this nugget with chain hoop attached.

It weighs 2.8 gr and is 5/8" long, not counting the hoop. So raw gold value is about $105.00 right now
I have heard that jewelry quality nuggets go for more than melt. Any ideas on value?

 

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[azblackbird]

I have heard that jewelry quality nuggets go for more than melt. Any ideas on value?

Take it to a pawn shop and see what they'll give you for it. Naturally you'll get low balled, but that will give you a starting basis of what the value is.

 

[NeoTokyo]

A pawn shop will probably give you 50% spot.
Selling it to gold shop will get you anywhere from 75-80% spot
Selling it on craigslist could get you 1-2 times spot.
Trading it on craigslist could get you value of 2-4 times spot
Putting it on consignment with an online store that sells minerals, gold and nugget jewelry could get you 2-4 times spot cash after fee's.

The nugget has great features and is very bold, if tempted, don't clean it.

 

[gunsil]

C'mon, you're an ebay expert, go look up "placer gold" and you will see what nuggets are going for. Yours will have a little less value perhaps since it has a lower carat ring soldered to it. I love nugget jewelry and have several nugget stick pins.

 

[RockRaven]

A good general rule seems to be 3 to 4 times melt value for nuggets that have good jewelry or collector qualities, that nugget has excellent shape and patina, should be way more valuable than melt

 

[TAKODA]

Nice piece even with the appendage and it's worth exactly what you can sell it for ......... period .

 

[meMiner]

What a great surprise to find amongst junk jewelery! I would suggest putting it in a box with a small gold chain and give to your significant other. The immediate rewards might prove more satisfying than you will get from selling it, plus it stays nearby...

 

[cyberdan]

Take it to a pawn shop and see what they'll give you for it. Naturally you'll get low balled, but that will give you a starting basis of what the value is.

I took it into a pawn shop and he tested. Higher than 22K and he offered me $107, I figuered $105 before I walked in just for melt.

 

[NeoTokyo]

Damn, your pawn shops are way better than ours.

Redding's pawn shops are super low.

Olde West is the worst place in town to try to sell your gold. They only offer 45-50% spot.
Now that's not to say that their pawn shop isn't a great place to shop at though, lots of good stuff.

 

[Reed Lukens]

Well at $1220 that's $39.20 a gram times 2.8 grams = 109.76 x 2.5 because it does have character and looks like an old anchor so should be sold as The Anchor's Away Nugget" and picked up by a boat enthusiast for his wife, I would put it on ebay, while setting a reserve at $250 and see where it ends up. 5/8 is a perfect size for a woman and my wife wears one about the same size. But yours with its character should bring a good price. BUT like stated I would give it to the wife because it is a rare nugget and not common.

 

[dashriprock]

Just for your info.....I picked this up at a booth at the gold show in Denver several years ago for $159 when gold was $400/ounce. It weighed 2.3 grams with loop attached. The man and his wife at the booth traveled to AZ, CA prospecting and selling their gold to supplement their retirement income. I thought at the time it was a good deal. It was marked at $195 but being late in the afternoon the last day of the show I talked him down some. If I had the one you have I would keep it as it has great character.