So you’ve purchased your gold panning kit, you’ve found a great place to pan, you’ve even followed the gold panning tips and now you’ve finally found some color in your pan. But what do you do with your findings? Where can you sell your panned gold and maybe even make a little money on your panning excursion?
Assuming you’ve found a little (or a lot) of gold while out panning, you’ll want to know what to do with your findings. The answer depends on quite a few different factors, including what your own ambitions are, how much gold you’ve found, the quality of the gold, the price of gold and other assorted factors.
Interesting, many people choose to simply hold onto the gold they’ve found while panning. They simply put the nuggets in a glass vial and keep it stored away for safekeeping or up on a shelf, admiring their find. This is a perfectly acceptable thing to do with your panned gold and keeping it around might inspire you to get out and find some more to add to the collection.
Assuming you’d like to try and sell you gold, you have a couple of options. A great thing to do, first and foremost, is find someone in your area who already knows a lot about panning for gold. You can find someone through a local gold panning club or a store that sells gold prospecting equipment. This person will likely know the best places to sell the kind of gold in your area and how to best handle the gold you’ve found.
You’ll really want to educate yourself before you attempt to sell your gold, even if you aren’t able to find a local expert to give you some guidance. Know what the spot price of gold is going for currently and if the price has been moving dramatically lately. You’ll also really want to know the quality of your gold, or how pure it is. You’ll want to get it tested, or assayed, so you know just how good it is since the gold you find while panning may have a lot of impurities in it.
Another option to unload your gold findings is through a local jewelry store. A jeweler will often want nuggets or gold pieces to use in their jewelry as art pieces for necklaces, rings or other fine pieces. Even if they can’t use your gold, they might be willing to share some good sources to sell your gold.
There are companies online that will be able to both test or assay your gold as well as give you an offer to buy what you’ve sent in. You really want to make sure you’re dealing with a reputable company, of course, since you have to know you can trust both their findings and their offer. You’re usually under no obligation to sell them your gold, but you will likely have to pay an assay fee if you don’t end up selling to the company.
If you already live in an area where gold prospecting and panning is common, there is likely someone around you who can test the gold. Again, check with a local gold mining club or a gold panning supply store for some guidance here. There is really now use in going through this process blindly when you can get some expert help. Don’t however, be afraid to venture out of your area once you’re confident in what you have and what you might be able to get for it.
Some people also have luck selling their nuggets online themselves through places like Ebay or even Craigslist. There are often people looking for just the right nugget to complete an art piece for jewelry or some other project and they will use these places to find good and original pieces. If you have an especially unique and beautiful gold nugget this might be a great option to find the best price for your gold findings.