by Peter Schiff, Schiff Gold:
Last year, an Australian family found a gold nugget just laying on the ground. Needless to say, this doesn’t happen every day. In fact, finding a gold nugget is quite unusual – even a small one. But every once in a while, somebody discovers a massive nugget. The biggest nugget ever discovered was over 600 pounds!
Virgin gold is a natural product of the geological process. A gold nugget is a mineral which chemical composition is a solid solution of silver with gold. Percent of silver in such a solution can be up to 43%. Also, the solution may include up to 0.9% of some other impurities (mainly copper or iron). Depending on the composition, gold nuggets may have different colors and prices.