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How Much Is An Ounce Of Gold Worth?

 
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Author Previous TopicReplies: 8 / Views: 1,484Next Topic  
Pillar of the Community
United States
1571 Posts
 Posted 09/17/2009  1:23 pm Show Profile   Bookmark this topic Add livingdinasaur to your friends list Get a Link to this Message
Gold is an item that many seek, and many others buy. Usually in the form of a round, or bar, but usually in minted coin shape. I have never bough gold for "ccash money", but have sweated long hours drywashing, in the hot, dry areas, (so as not to give awway my location). and have quite a bit accumulated. My question now is: What is the difference in value between the "placer gold", and that found in veins in bedrock? The purity, naturally comes into play, for the "fineness", but basically comparing an ounce of placer gold, or an ounce from a nugget, to an ounce from a round, or bar, which has the higher value? Does the nugget or the placer gold qualify as an "artifact? Gold, if foind in "rose quartz", is in fact an artifact, and has a much higher value. The fineness will not be the same every place it is found. Usually it will be found with silver, copper, lead, or other metals, as an alloy. An assayer can tell where the gold came from, just as a point of information. BTW, Gold is figured in ounces TROY, which is different from avordupois. One pound troy is 12 ounces,, avordupois, 16 ounces to the pound.
Dick
Bedrock of the Community
10045 Posts
 Posted 09/17/2009  1:45 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply

Quote:
.have sweated long hours drywashing, in the hot, dry areas, (so as not to give awway my location)

Darn.and I was hoping to jump your claim! So, I suppose the assayer can tell where your gold is from, generally speaking? Uh-oh.

Quote:
.but basically comparing an ounce of placer gold, or an ounce from a nugget, to an ounce from a round, or bar, which has the higher value?

A friend of mine deals in spot metals, and we discussed this the other day. From what we've heard, placer gold (nuggets) that have a nice shape command prices much higher than simply gold content. Another example would be a gold pocket in quartz that has an interesting shape or nice crystal structure. I saw in his shop a very nice "nugget" that came from a pocket, around 5 ounces, that still retains its crystalline structure. Beautiful stuff!

I also know a few Aussies here "fossick" for gold...maybe they have some stories to tell?
Edited by DVCollector
09/17/2009 1:56 pm
Pillar of the Community
United States
1571 Posts
 Posted 09/17/2009  2:26 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
Gold in "bull-quartz", or milk-quartz is common in AZ, among other states. But the one that really is beautiful, and much higher priced, is the "rose-colored quartz.
I have heard the term "Fossick", but don't know what exactly it is, or implies. Drywashing, which is as the name implies, is the working of the very dry sand, (the drier, the better), and it uses air pressure to lift the lighter sand, etc from the sand placed over the air flow, and using "riffles", (barriers that tend to collect the heavier particles of gold, lead, bullets, etc), into concentrated amounts, which are known as "concentrates", or "cons". These are then cleaned, and, (in my case, screened to size), and placed in small bottles of one ounce capacity, and stored in a safe place. I don't care for "sluicing, or dredging". I have heard of some of the "mining methods "Down-under), but know nothing about them. As far as my claim, the claim was turned over to a friend, and as far as I know, they are still working the claim.
Dick
Bedrock of the Community
10045 Posts
 Posted 09/17/2009  2:34 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply
Interesting...I have not seen the "rose quartz gold", except the alloy used in jewelry of that color.
Yep--all mining is difficult and dirty work. It can be a fun hobby, and helps you appreciate how much work went into those gemstones and gold for jewelry. Given the recent gold trend, I'm sure prospectors are going crazy up in the "gold country" of California--and Arizona too.
Edited by DVCollector
09/17/2009 3:28 pm
Pillar of the Community
United States
1571 Posts
 Posted 09/17/2009  6:15 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
The "rose-quartz", it the color of the quartz, which varies in color from milky white, to a semi-transparent rose colored stone. The gold is found in a variety of forms. There are thick veins, there are pieces of quartz, with the gold running all thru it, like wires, hence the name "wire gold" It is VERY valuable, due to it's rarity. It is also found in sizes from "Micron, to large nuggets. The finer the size, the more expensive to operate.
Then there is "fools gold". It is not gold, at all. It looks like a huge piece of gold, but is not gold at all! It is Iron pyrites, and when it is struck, it shatters, into a thousand small black bits of sand. The difference bweing, you hit a piece of gold, it assumes a different shape, because it is metal.
Dick
As far as jumping my claim, I don't think it would be advisable, now, because I don't have any more rights to "trespass", and My old partner is a dead shot. He likes to use a double-barrel 12 guage, shotgun, loaded with rock salt. It don't kill, but it does keep the "varmints" away! He don't even like metal detectors within a quarter mile of the boundry lines!
Edited by livingdinasaur
09/17/2009 8:22 pm
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Australia
13733 Posts
 Posted 09/17/2009  8:59 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply

Quote:
I have heard the term "Fossick", but don't know what exactly it is, or implies.

"To fossick" is an Australian slang word meaning to hunt through a goldfield or gemfield (usually an abandoned one) looking for something valuable that may have been overlooked by everyone else. Fossickers usually work by eye or with simple tools, rather than bring along heavy gear; a gold fossicker might have a pan or a metal detector, but that's all.

"Fossick" can also be used as a general synonym for "rummage" or "forage", as in, "She was fossicking through the sale bins and found some cheap shoes she liked." or "I found an old sixpence while fossicking through the till at work.".
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Pillar of the Community
United States
1571 Posts
 Posted 09/18/2009  12:21 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
Crikey mate, I didn't realize I had been doing that, all my blooming life!
just kidding SAP. but yes, I am guilty of doing just that. Having been born into a poor family, many things were not 'store-bought', rather, gotten from rummage sales, and thrift shops, etc, or "hand-me-downs, During the depression, mt dad was working for the AT&SF Ry., as a telegraph operator, and made $5.00 a day. good wages, considering most didn'e have a job. We loved where it snowed inthe winter, and it has been known to snow in June! I know for a fact it snowed 5'' on mothers day, 1961. I was there! So when my shoes were worn to the point they had holes in the soles, I would use the cardboard boxes the cereal came in, to make innersoles, so I could go toschool. so much for reminiscence, (sp). A small gold pan is light, useful for many things, beside gold prospecting, and it will sure let you see if there is any "color", or not. Once you do find color, then you 'grid" it out, and determine where you want to stakle your claim. Make your boundry monuments, put a copy of the claim notice in a protective container, (it used to be a prince Albert tobacco can, which lasts foe years), now, it could be anything plastic. Then the hard work comes, but it is rewarding! One sleeps well. I have been down that road, and if I had my "druthers', I would be back doing the same thing. Gold then was much lower than now, and I remember when it was $35.00 an ounce. The "gold-diggers" were just as active then, as they are now. Take that any way you like,only the truth hurts!
SAP, thanks for the enlightenment. I thought about going to Australia, when I was very young, but the chance, (translates: $$$), was not there, to achieve my desire. I have known many "Aussies", and have great respect for them. The only thing I know about the people, and the country, is what has been on TV, and in the movies, which one naturally has to rtake with a "grain of salt".
Getting back to "Fossicking", I recall reading, or maybe it was a movie,or on the National Geographic channel, about people going into holes, as in wells, and working there. I assume they were doing some panning, or maybe screening, for gemstones. Not ever having been there, it could also be just another "windy", aka as, a lot of hot air!
Dick
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United States
16394 Posts
 Posted 09/19/2009  04:35 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Hey Dick,
Being a recreational gold prospector myself, I do know that gold in specimen or nugget form tend to be valued slightly higher than bullion gold at any specific time, due to their specimen value. I have heard estimates as high as 30% above spot for some specimens. I know I have on occasion found nuggets that are more "orange" in color usually indicating a higher gold content (Aussie nuggies are a good example) and others with like you stated, silver or copper that tend to be lighter yellow like some I have found in Southern Arizona.
Bedrock of the Community
10045 Posts
 Posted 09/19/2009  12:05 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply

Quote:
I have heard estimates as high as 30% above spot for some specimens.
Sounds more accurate than my wild estimate--or what they'll charge in gold country giftshops for nugget jewelry
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