Reality Check
Recreational fossicking rarely yields significant gold. A good day might produce 0.5-2 grams (worth $40-$160 at current prices). This guide is for when you do strike it rich — or just want to cash in your accumulated finds.
Understanding Gold Pricing
Gold is priced by the troy ounce (31.1 grams). The "spot price" fluctuates constantly based on global markets. As of writing, gold is around $4,200 NZD per ounce.
Buyers typically pay 85-95% of spot for raw gold, depending on purity and quantity. Nuggets and specimens with interesting shapes can fetch premiums from collectors.
Where to Sell
MyGold
RefinerAuckland (mail-in nationwide)
Pros
- ✓ Pays spot price minus small margin
- ✓ Professional assay
- ✓ Fast payment
Cons
- • Minimum quantities apply
- • Need to mail gold
NZ Gold Merchants
DealerMultiple locations
Pros
- ✓ Walk-in service
- ✓ Immediate payment
- ✓ Buys small quantities
Cons
- • Lower prices than refiners
- • Varies by location
Trade Me
MarketplaceOnline
Pros
- ✓ Collectors pay premiums for specimens
- ✓ Set your own price
- ✓ Large audience
Cons
- • Fees apply
- • Slower sale
- • Trust issues
Local Jewellers
RetailNationwide
Pros
- ✓ No shipping
- ✓ Personal relationship
- ✓ May buy rough gold
Cons
- • Highly variable prices
- • Many won't buy raw gold
Tips for Getting the Best Price
- 1Clean Your Gold
Remove black sand and debris. Clean gold looks more impressive and is easier to weigh accurately.
- 2Know the Spot Price
Check the current XAU/NZD rate before selling. Don't accept more than 15% below spot without good reason.
- 3Get Multiple Quotes
Email photos and estimated weight to 2-3 buyers. Prices vary.
- 4Consider Collectors for Specimens
A nice nugget with quartz attached can sell for 2-3x melt value to collectors.
Rather Trade Than Dig?
Skip the sluice and the selling hassle. Trade gold CFDs from your phone — profit from price movements without ever touching metal.
Start Trading Gold →