Facts about Gold Nuggets

Gold is formed naturally in quartz deposits in the earth. When erosion takes place, exposed veins of gold break off and wash into rivers and streams. The natural movement of the water tumbles the gold against sand and rocks, forming a natural gold nugget. This gives each nugget its unique texture, shape, and character.
Natural gold nuggets are found by placer miners that sift through the dirt and gravel of ancient stream beds to reveal precious gold. Natural gold nuggets average 22kt or 90% pure. This compares with 10kt (41.7%) or 14kt (58.5%) gold. Natural Gold Nuggets of fine quality are unique and one of a kind.
The gold purity will vary from rivers and streams. Gold Nuggets can be found from 70% to as high as 95% pure depending on the mix of other minerals with the gold. This high purity accounts for the rich luster and color of natural gold. Nuggets are weighed by the gram (gr) pennyweight (dwt) and troy ounce. One Troy ounce equals 20 pennyweights or 31.1 grams. They are sold at a premium price compared to the gold market based on their rarity, shape, and size. Higher gold content and character have more value. This is similar to the grading of a fine quality diamond. The larger the Gold Nugget, the more rare it is. A one-ounce nugget is now considered as rare as a five-carat diamond.