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 Replies: 16 / Views: 3,230 |
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Pillar of the Community
Canada
834 Posts |
Buying gold nuggets is a totally different ball game, beware of fakes, low purity etc. fakes can be made as easily as melting down some scrap gold, and drip pouring a bit into water and presto you have a "natural gold nugget" low purity is another thing to watch out for. California gold's purity ranges anywhere from .630 to .930 in purity. Personally for that amount, I would look into a nice piece of Alaskan gold. Known for it's high purity (22kt) and its gold that is big and feels good in you're hands. Take a look at something like this http://www.ebay.com/itm/26-85-Gram-..._1558wt_1115 |
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Pillar of the Community
United States
2543 Posts |
My concerns : Not solid gold nor pure gold. How much of the 27 grams is gold and how much is other ore or crystal material.How pure is the part that is gold.
Even if it was solid .9999 gold, it still would only be intrinsically worth $1429.00
It will always be a collectible and it's value will never reflect the spot price of gold.
For $2500 you can buy an ounce and a half of .9999 which if gold goes back up could be worth &00 next month.
Lastly, have you heard of iron pyrite ?
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Pillar of the Community
United States
1200 Posts |
Definitely not for the faint of heart! If I was ever going to buy something like that, I'd buy it from an established, known, trusted source that I knew personally. Buying that thing from ebay is somewhere that I wouldn't go. I can however identify with the desire that little monster gives rise to. I feel it singing to me jut like the mythical sirens. However--a lifetime of "sensible shoes" programming would cause me to put my $2.5K into a pile of ASEs, CSMs, Engelhard bars or something else that'd be truly boring by comparison. However -- if you can't resist that siren song, go for it and best of luck! |
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Valued Member
United States
405 Posts |
Not to high jack the thread but...still on topic, what is a good price to pay per gram for Alaskan nuggets?
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Pillar of the Community
 United States
648 Posts |
Quote:
If you can afford it, I say go for it. You obviously really want it, and it IS a fantastic nugget. Would be a great piece for any collection and how often will you find something like that? I know right. I really do want this piece! Quote:
Buying gold nuggets is a totally different ball game, beware of fakes, low purity etc.
fakes can be made as easily as melting down some scrap gold, and drip pouring a bit into water and presto you have a "natural gold nugget"
low purity is another thing to watch out for. California gold's purity ranges anywhere from .630 to .930 in purity.
Personally for that amount, I would look into a nice piece of Alaskan gold.
Known for it's high purity (22kt) and its gold that is big and feels good in you're hands. Thanks for the note as always. I've asked the specific purity as well. That link you've provided is very intriguing. Quote:
My concerns : Not solid gold nor pure gold. How much of the 27 grams is gold and how much is other ore or crystal material.How pure is the part that is gold.
Even if it was solid .9999 gold, it still would only be intrinsically worth $1429.00
It will always be a collectible and it's value will never reflect the spot price of gold.
For $2500 you can buy an ounce and a half of .9999 which if gold goes back up could be worth &00 next month.
Lastly, have you heard of iron pyrite ? Yes, for my entire life I've made many intrinsic bullion purchases for awhile. I'd like to get something different even if it meant a premium. And I'll pass on the iron pyrite as I certainly know what that is  Quote:Definitely not for the faint of heart! If I was ever going to buy something like that, I'd buy it from an established, known, trusted source that I knew personally. Buying that thing from ebay is somewhere that I wouldn't go. I can however identify with the desire that little monster gives rise to. I feel it singing to me jut like the mythical sirens. However--a lifetime of "sensible shoes" programming would cause me to put my $2.5K into a pile of ASEs, CSMs, Engelhard bars or something else that'd be truly boring by comparison. However -- if you can't resist that siren song, go for it and best of luck! Thank you and yes, I've been looking for weeks/days for the right nugget. There are SO many options! Edited by tripncoins
03/25/2013 11:31 pm
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Pillar of the Community
United States
1200 Posts |
With a move of this magnitude, don't go jumping after just mere days/weeks of research. I'd put months of research into a move this big.
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Pillar of the Community
United States
648 Posts |
Fat Freddy - you're right. I need to spend more time and research. I got me a bad case of gold nugget fever!
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Valued Member
United States
455 Posts |
It's beyond my budget but it is an awesome looking piece!
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Pillar of the Community
United States
1200 Posts |
@trip---Good move. Jumping on something like this ( especially on ebay) after 3 or 4 days of infatuation could be a roadmap to disaster. Study, consideration and deliberation may cause you to lose the deal of the moment but they won't cause you to lose any money. If I had a terminal case of gold fever, I'd put another $800 in the kitty on top of the $2500 and grab two gold eagles. Boring, plain vanilla, sensible shoes, blah-blah-blah... Correct, BUT it's highly unlikely I'd regret the move and if I did I could always bail out for a (hopefully) minimal penalty. There's one potential nightmare we haven't even really opened up yet, too. What would your position be if you ever went to sell that thing? You might make out OK but you also might take a vicious beating. No way to even guess. That's a position I'd never knowingly put myself into. |
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Valued Member
United States
318 Posts |
Do you have a shop in town that has nuggets that you can look at in person? I would be willing to drive several hours to the next big town to see them first hand.
Also, how do you plan to display a piece like that? Grubby paws would wear the luster off pretty quick. Won't fit in a flip, and wrapping it in a hanky seems.. unceremonious.
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Pillar of the Community
United States
648 Posts |
Quote:
Fat Freddy - What would your position be if you ever went to sell that thing? I battled that question. Do I get it because I have the fever and keep it because I love it? Or, do I just hope that this is so unique that MAYBE there will be a buyer out there in the future when Gold is at 2k and I won't even have to worry about it. I tried to beat him down to spot as close as I could and he barely budged. That's what I honestly think about sometimes... Quote:
Silver Eye - Do you have a shop in town that has nuggets that you can look at in person? I would be willing to drive several hours to the next big town to see them first hand.
Also, how do you plan to display a piece like that? Grubby paws would wear the luster off pretty quick. Won't fit in a flip, and wrapping it in a hanky seems.. unceremonious.
I do have a local shop that does have them in person (Alaskan nuggets). He did have a higher price than this dealer and not as nice looking nuggets as this dealer. I wouldn't display a piece like this as it would be stored in my SDB...it's a shame but a must for security on pieces as such. For me at least. All - I declined the offer with the dealer and will research some more. Until then, I picked up a 10 gram Alaskan gold nugget from a new dealer I met at a show and 1 oz Scotia bar. We had 40 minute conversation about gold mining and his massive collection of gold nuggets. He even offered me a trip up to Alaska (I pay my travel etc), and I could help him and keep what I find on my own! He said he has his own gold claim in Alaska. I asked him if he did this full time and he said no, he was a full time lawyer & part time gold hunter during the summer times with his wife. Really cool guy and gave me his business card to ping him if I was seriously interested. Maybe then I'll find my own massive nugget one day....I'll keep dreaming (and researching hard).
The problem is I have gold feverrr!!  Edited by tripncoins
03/26/2013 9:12 pm
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Pillar of the Community
United States
1200 Posts |
Fevers can be difficult, costly things. I've got some eye-popping, staggeringly expensive toys left over from previous fevers.
I'm sure you'll never regret having dropped back into the research+study mode now when you look back at this episode in the future.
As I look at some of my toys, I wish I'd dropped back into the research+study mode myself a couple more times than I did in years past.
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New Member
Singapore
25 Posts |
I recently started to buy gold coins too and plan as an investment. I would suggest if you buy as an investment than it's much cheaper to buy from local gold dealer.
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Valued Member
United States
318 Posts |
Now that looks like a nugget that you can hold in your hand and play with. I like it. Let's you get it out of your system before you buy a museum quality piece like the first one you looked at and tarnish it all up. Heck, I'd double-stitch my pants pocket and carry it around for a while. I like to live dangerously.  |
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Pillar of the Community
United States
648 Posts |
@ SilverEye LOL - good one. You're right, this little "10 grammer" was significantly cheaper. I have kept this little nugget around and I can't let it go!
@ mattkasaimi - trust me amigo, this buy was purely a premium buy with no intentions of investment. For that, I only collect pure .9999 Gold Bullion Bars and Coins (Maples / Pandas etc). I have been just wanting to add a "raw" piece to the collection.
The purpose of buying this nugget was not because of investment, it's because of my love for the precious metals. I don't plan on selling it at all (nor any of my bullion) anytime soon. If I do sell this nugget and make money? Great! If I do not make what I paid? No biggie...
Keep stacking everyone and thank you for your perspective & comments! I really like this forum.
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Replies: 16 / Views: 3,230 |
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Posted 03/25/2013 10:24 pm
