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Friday, August 04, 2023

Gold Nuggets at Auction: Stunning Specimens 10k and Above

The precious metals recovered from the mines of the western frontier were largely processed into gold ingots, jewelry, and used in industry. Historically, very few large nuggets were saved for their value as collectibles. In modern times, large gold nuggets are exceedingly rare and are highly valued.

Heritage Auctions is the world’s largest auction house for collectibles, including fantastic gold nuggets that have been recovered from the mines of the West. These nuggets are selling at auction for prices that far exceed the value by weight of the specimens when considering current gold prices.

The following examples are gold nuggets that have been sold at Heritage Auctions and have sales prices over $10,000.
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8 comments:

  1. AnonymousAugust 4, 2023 at 2:21 AM

    I was working in Skull Flats, just up from Volcano when the following happened. This was over a period of three months.

    Two bodies were found the same morning. Each washed out of a river, both riddled with bullet holes.

    That same river produced a gold nugget weighing just over three lbs.

    A fork on that river produced a gold nugget set in doubled terminated quartz crystals. I forget the size, only that it was as impressive as the other nugget.

    I attended a BBQ at a friend's home while there. The front lawn overlooked a deep, narrow river strewn with large bolders. I casually commented that that looked like a place to pan in the summer when the river is down.
    People stopped talking and stared at me. A bit later, my friend took me aside to say don't talk like that. And he said it wasn't a secret why and how those bodies turned up as they did.

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  2. bogsidebunnyAugust 4, 2023 at 6:15 AM

    The Golden Rule: "He who has the gold makes the rules.”

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  3. Univ of Saigon 68August 4, 2023 at 7:06 AM

    Spot price in WSJ today is $1,932/oz. So if that first one at the link is 33 oz and had a reserve price of $31,000, 'crystalline' gold can't be pure gold. (1932 X 33 = 63,756) Somebody educate me.

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    Replies
    1. GuardDuckAugust 4, 2023 at 10:28 AM

      The story said that it had that reserve price at auction in 2008. Prices in 2008 were around $800/oz. Weight value would have been $26,400

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    2. AnonymousAugust 4, 2023 at 11:04 AM

      The 31k price was a 2008 auction with a 2008 price reserve. Use the 2008 spot price and rerun the numbers.

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    3. AnonymousAugust 4, 2023 at 9:21 PM

      Gold in its natural form is rarely 100% and varies on the region it is found.

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    4. AnonymousAugust 5, 2023 at 10:08 PM

      I did the math too - my "explanation" aka guess - while there are many nuggets, there is only one largest from N America.

      Rarity has collector value for certain but dang, that's way over spot (abt 2,000)

      Have a blessed weekend

      ch

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  4. AnonymousAugust 4, 2023 at 8:59 AM

    Thanks. That was interesting. - Nemo

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