Nigel, I just checked the price of gold here in Australia. It?s pretty high at the moment at $121 per gram. That?s for pure gold and of course, gold nuggets generally contain impurities such as silver and copper and may also contain bits of quartz, dirt etc. I cleaned the gold in an ultrasonic cleaner to remove most of the dirt and there was very
little quartz attached. The gold in our area is some of the purest gold in Australia and normally comes in at around 98% purity. If the gold we found yesterday was melted into a small ingot, I would expect to get over 10 grams in total. We have a shop in town that is going to buy gold and will pay 90% of spot price for it. They melt the nuggets down, weigh the resulting block of gold and then test it in an XRF machine for its purity. They will then calculate the real quantity of gold and pay accordingly. If we wanted to sell it, we could expect to get just over $100 per gram. If we wanted to sell the gold privately as gold nuggets we would be able to attract a premium and get a bit more than spot price for it. A guy I know in Western Australia recently found a 58 gram nugget on top of the ground. (What we call a sun baker) It was a pretty piece and would sell for a good price to a collector. The biggest nugget that I?ve actually seen and held was one that a local guy found in Western Australia a couple of years ago. It weighed well over 600 grams. It was a thrill to be able to hold it.