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Gold nuggets, bars or coins: how they differ
All three are gold, but they are not the same thing and people do not buy them for the same reasons. Here are the differences, so you know what you are buying in each case.
What each one is
- Bars: melted and refined gold, usually 999.9 fine, in standard weights and with a serial number.
- Gold coins: pieces struck by a mint, with a fixed purity and weight. Some are 999.9 fine, others 22 karat (916.7 fine).
- Nuggets: native gold just as it came out of the ground, never melted. Each one is unique, and its natural purity is usually between 20 and 22 karats, as we explain in gold nugget purity.
Price: the gold price versus a one-off piece
The price of a bar or a coin closely tracks the gold price, plus a small premium for manufacturing and distribution. A nugget’s price also depends on its shape, rarity, size and origin: you pay for it as a collector’s item, so it usually costs considerably more per gram than bullion. We explain why in how much a gold nugget is worth.
Gold nuggets at auction right now
Live bids from our Catawiki auctions. Tap a nugget to see its photos and bid.
Resale
Bars and well-known coins are easy to sell to almost any precious metals dealer, at a price close to the gold price. A nugget is resold mainly to collectors, in specialist shops or at auction; its price depends on how much another collector values it, not only on its gold.
Tax
In the European Union, so-called investment gold (bars and certain coins that meet purity and other requirements) has a special scheme and is exempt from VAT. Nuggets do not fall into that category. If tax matters to you, ask an adviser in your country.
Why people choose nuggets
Someone buying a nugget is rarely looking for the same thing as someone buying a bar. They want a natural, one-of-a-kind piece with a geological story and a specific origin: an Alaskan river, Australia’s Golden Triangle or the Finnish Arctic. It is an object to look at, collect or give, as we explain in giving a gold nugget as a gift.
| Bar | Coin | Nugget | |
|---|---|---|---|
| Purity | Usually 999.9 | 916.7 to 999.9 | Natural, often 20-22 karat |
| Price | Gold price + small premium | Gold price + premium | Gold value + collector value |
| Each piece | Standard | Standard | Unique |
| Resale | Metal dealers | Metal dealers | Collectors and auctions |
This article is for information only and is not investment advice. If nuggets appeal to you for what they are, every week we auction nuggets from Alaska, Australia and Lapland with their exact weight and macro photos.
Frequently asked questions
Is a gold nugget an investment?
A nugget is above all a collector’s item: its price includes a premium for its shape and rarity, and it is resold to collectors. This article is not investment advice.
Why does a nugget cost more per gram than a bar?
Because on top of the gold you pay for its uniqueness, natural shape and origin, and small pieces carry higher costs per gram.
Is there VAT on gold nuggets?
In the EU, investment gold (bars and certain coins) is VAT-exempt, but nuggets are not considered investment gold. For your own situation, ask an adviser.
How pure are gold bars and coins?
Bars are usually 999.9 fine; coins are 916.7 (22 karat) or 999.9, depending on the model.
Raquel selects, weighs and photographs every nugget we sell. Gold Nuggets Minerals S.L.U. is a small company in Zaragoza, Spain, specialising in native gold. On Catawiki we have sold more than 120 nuggets, with 100% positive feedback and the Top seller badge.
Looking for a natural gold nugget?
See this week’s nuggets at auction