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What you should consider when purchasing gold nuggets on the Internet!

Gold nuggets
are famous collectors’ items and investments! Potential buyers are browsing through the Internet to find the most beautiful nuggets which should also have the lowest price. Nevertheless, you should take a closer look at the offers.

Do not fall into the following traps:

1. Indication of weight
The weight must not be missing in any offer. Dubious sellers deceive potential buyers by the use of atypical weight units. Example: Often, on platforms such as eBay, grain is used as an indication of weight. Grain has the abbreviation "gr." which can be confused with gram (g). This can mean a great difference. In this example 15.432 grains are only 1 gram.

2. Size / Shape
The size and shape of each nugget is, of course, also a factor that can influence the price. The more interesting and bizarre the shape of the nugget, the more expensive - because less frequently. In order to get an imagination of the nugget’s size, it must be comparable with something familiar. For example, this can be achieved by using standardized objects such as 1 euro coin, millimetre paper or a scale.

And exactly this is not indicated in dubious offers. The buyer should not buy a pig in a poke and runs the danger of spending a great deal of money for nothing. Using a good macro lens makes the smallest gold grain looks immense. This representation combined with the indication of weight “grain”, the seller is able to perfectly deceive buyers. Such dubious machinations destroy the business of serious nugget distributors on the Internet. I can assure you that I will do my utmost to process your order to your complete satisfaction. Each nugget is placed next to a scale with a millimetre specification and the scales are set to grams.

3. Purity
How does the buyer know if the offered nugget is a pure nugget found in nature? I can only recommend buying from established traders who provide proper invoices. Either the trader issues a certificate of authenticity or makes a note of the place where it was found and a guarantee of authenticity on the invoice.

On my invoices, the gold content in % is also indicated with two digits after the decimal point for larger nuggets. The gold content of these nuggets was measured by X-ray fluorescence analysis (RFA). This is a very precise surface analysis method. For further information, see Wikipedia.

Caution is advised for auction platforms. There, fake nuggets are sometimes offered which are only gold-plated. This can only be found somewhere in the offer, written in small print - if there is any indication at all.

There are also nuggets that are sold as genuine natural nuggets which are made from genuine gold (sometimes also fine gold which means 99.9% gold content) but their shape is only generated by the pouring of molten gold in cold water. Those nuggets are only worth as much as the daily gold price (gold spot). An extra charge which is common with natural nuggets would be unjustified in that case. So be careful!

Another case of fraud is it to melt down computer waste and to sell it in form of a smooth hemisphere. Although little gold can be found in circuit boards of mobile phones, laptops, computers, processors, etc., but the gold content in the end product is very low. Other metals and alloys are added which bring weight and volume. In that case, the buyer should ask for certificates that indicate all elements (content of gold, silver and copper).

4. Dispatch
A merchant always carries the shipping risk. This means that if you buy gold or generally precious metals from a retailer, you are always on the safe side. This means you either get a replacement delivery or your money back. This security cannot be given by a private seller. When buying online with individuals, the buyer takes the risk of shipment from the moment when the seller hands over the merchandise to the carriers (post office, courier). But honestly, who knows whether a filled package has ever been dispatched? The package can be manipulated by the seller so that it looks as if it has already been opened and the seller denies any sort of blame. Small nuggets are often dispatched by standard letters. In this case, there is no evidence or a tracking possibility. Even if the goods are sent as registered letter, the gold is not insured in case of loss. That is how it is written in the terms and conditions of the senders (post office, etc.). To be on the safe side, you should ask for either a value transport (e.g. intex-paketdienst.de) or DHL in combination with a fee required additional option called “Valorenklasse II”. 

5. Serious traders
The number of commercial suppliers of genuine gold nuggets is a manageable size in Germany, since it is unquestionably a niche product. Trust is important and for this reason transparency and honesty should be the dealer’s top priority. Don’t be fooled by professional-looking sales platforms on the Internet. Simply dial the dealer's phone number and ask him / her. Check the information in the imprint and look for it in one of the search engines.

Has the VAT number the correct number of digits and is the number valid? Does the given street really exist? Check it with google maps. I have asked myself the same questions and was able to discover fraudulent practices. The private provider wanted to use a certain trustee service. During my research, I have noticed that something is wrong. The VAT number had too many digits, there was no company to be found under the given address and my phone call with the provider was just strange (check it here). Rely on your instinct.

Be aware of the above-mentioned points and compare wherever you can. Finally, you would do the same when buying a gold coin. The view to the website www.gold.de is obligatory in order to find a reputable dealer with the best gold price.

These are the most important, but certainly not all points, you should be aware of. There are always really good deals on the Internet. However, these must be carefully filtered out at first.

If you should know other fraudulent practices, please feel free and leave a comment on my website.

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